May 2nd, 2020

Categories
News Numbers

Daily Industry Data Update 5/1/20

4.8%

Revenue

1.6%

Transactions

6.5%

ATC

12.8%

New clients

Summary: The first day of May started off with positive revenue at 4.8%, and transactions almost flat at negative 1.6%. May continues the rally towards “back to normal” we witnessed as the month of April came to a close.

iVET360 data source: 775 hospitals across all 50 states. Avg hospital size $2 million. Daily stats are compared to the same weekday last year (ie. Thursday to Thursday comparison). Month to date stats is based on calendar month over last year.

May 1st, 2020

Categories
News Numbers

Daily Industry Data Update 4/30/20

6.7%

Revenue

2.4%

Transactions

9.3%

ATC

27.2%

New clients

Summary: The last day of the month closed our very strong. With revenue up 6.7%, transactions closest to flat we’ve seen all month, and new client growth very strong at 27%. Month to date closed out down in revenue 13.3% driven by very slow transactions at the start of the month and slower recovery signs towards the end of the month.

iVET360 data source: 775 hospitals across all 50 states. Avg hospital size $2 million. Daily stats are compared to the same weekday last year (ie. Thursday to Thursday comparison). Month to date stats is based on calendar month over last year.

April 30th, 2020

Categories
News Numbers

Daily Industry Data Update 4/29/20

3.6%

Revenue

15.2%

Transactions

13.7%

ATC

13.6%

New clients

Summary: Wednesday saw revenue off 3.6% with transactions off 15.2%. New clients continue to show positive growth and Wednesday was the second day in a row of very strong ATC growth (potentially demonstrating non-elective surgeries being performed). Month to date is down 14.1% in revenue with transactions off 20.2%

iVET360 data source: 775 hospitals across all 50 states. Avg hospital size $2 million. Daily stats are compared to the same weekday last year (ie. Thursday to Thursday comparison). Month to date stats is based on calendar month over last year.

April 30th, 2020

Categories
News Webinar

Managing Your Practice After COVID-19

It looks like things are going to start opening up again soon around the country. Good or bad, it’s happening—and we want to help you be ready for it.

So LIVE…from kitchen tables all over Portland, OR…it’s a special “Managing Your Practice After COVID-19” webinar! This webinar is free and open to anyone who wants assistance in getting back up and running in the new normal. No sales, no strings, just the best of iVET360’s Marketing, Analytics, and Human Resources teams offering you great ideas for how to:

  • Re-engage with your clients who have lapsed on pet care
  • Manage expenses and revenue based on industry data
  • Bring your team back together after this stressful situation
  • Prepare your practice for coming out of pandemic restrictions

It’s not as if anyone has all the answers for how things are supposed to work after a pandemic. But what we do have at iVET360 is smart, experienced people who truly care about helping you help pets.

Download The Slides Here >

PPP Tracker Example >

Downtime Task List >

AHAA-VMG Chart of Accounts >

Return to Work Checklist >

April 29th, 2020

Categories
News Numbers

Daily Industry Data Update 4/28/20

2.6%

Revenue

11.0%

Transactions

9.5%

ATC

5.8%

New clients

Summary: Tuesday saw revenue off 2.6% with transactions off 11%. New clients continue to show positive growth. Month to date is down 13.5% in revenue with Transactions off 19.7%

iVET360 data source: 775 hospitals across all 50 states. Avg hospital size $2 million. Daily stats are compared to the same weekday last year (ie. Thursday to Thursday comparison). Month to date stats is based on calendar month over last year.

April 28th, 2020

Categories
News Numbers

Daily Industry Data Update 4/27/20

7.7%

Revenue

12.9%

Transactions

6.1%

ATC

2.9%

New clients

Summary: Monday stats started the week off with revenue off 7.7% and Transactions off 12.9%, we are continuing to see positive new client growth as of late.

iVET360 data source: 775 hospitals across all 50 states. Avg hospital size $2 million. Daily stats are compared to the same weekday last year (ie. Thursday to Thursday comparison). Month to date stats is based on calendar month over last year.

April 28th, 2020

Categories
News Webinar

COVID-19 HR Town Hall 4/28

Our last regularly scheduled HR COVID-19 Town Hall started with a brief update on the Paycheck Protection Plan and the newly approved funding. Suggestions were made about how to manage finances while waiting for approval. We then dove back into thinking about life after the pandemic with suggestions to keep employees actively engaged after the abnormal circumstances many have found themselves in. These suggestions included catching up on performance evaluations, starting one-on-one conversations, creating goals and development plans, and offering ample online training to the team to help them build skills. We ended with our final frequently asked questions segment, this time focusing on getting team members to return to work, and how to handle employees who have been “double-dipping:” collecting unemployment while also on paid FFCRA EFMLA leave.

Download The Slides Here >

April 27th, 2020

Categories
HR News

Welcome Back: How to Recall Furloughed Employees

Over the next few weeks, government ordinances related to COVID-19 will slowly begin to lift nationwide. Hopefully, this means your practice will be able to start getting back to something resembling “normal”, and you can start recalling your furloughed employees.

Here is a brief overview of how to conduct the recall process:

  1. Create your recall list. Some practices will be able to bring back all of their furloughed employees at the same time, but most practices will need to bring back furloughed employees in phases. If you are staggering the return of furloughed employees, you will need to choose a selection process for who you will bring back first. Just like when you started this process, you will want to ensure that your selection process is non-biased and consistent. Common selection processes would be:
  • first furloughed is the first to come back,
  • selected based off seniority with the practice, and
  • selected based on skillset.
  • Recall furloughed employees. OK, so you have your list together and now it’s time to recall them. Prepare your recall letter for each individual you will be recalling prior to contacting them. We have attached an example recall letter here for your reference.

Essentially when an employee is furloughed from a business, they are put on an unpaid leave from the practice, so just like any leave you will want to communicate key pieces to the employee in the recall letter, including:

  • an employment offer
  • a return to work date
  • terms of employment
  • any consistencies and changes in their role
  • benefits status
  • changes in policies and procedures since their furlough

We suggest first reaching out to the employee via phone when recalling them, and then following up with an email that has the recall offer letter attached for the employee to sign.

  • Put the employee back on the schedule. Once you have the employee’s signed recall letter of acceptance, it’s time to put the employee back on the schedule. Ensure that their manager is scheduled to meet with them the first hour of their shift to review the practice’s new safety protocols and any new policies and procedures that have been implemented during their leave. This would also be a good time for the employee to read any handbook addendums you may have created and have them sign these documents for their personnel file.
  • Schedule a time to check in with them during their first week. There are still many unknowns and uncertainties during this pandemic, so getting back to work may feel very weird for some. Be sure to make it a point for the employee’s supervisor to check in with each recalled employee and see how they are doing reacclimating to daily practice life.

What if my employee doesn’t want to come back yet or is still concerned about their safety?

It is understandable that some employees are not going to want to come back due to safety and/or health concerns. We suggest you speak with these individuals about their concerns and review with them the safety protocols that management has put into place. If the employee has exhausted all federal and state leaves available to them, including their federal leave time (FFCRA), it will be up to management as to whether they will approve for the employee to continue staying out on unpaid leave.

It is important to note that some states, like New Jersey, have put some guidelines in place as to how to handle employees who have refused to come back to work due to fear of gathering and choosing to self- distance. It is always important to keep in mind that if you approve unpaid leave for this one person, it should be an option for anyone else who has the same concerns and requests continued leave.

Finally, it’s important that management ensure all communication regarding furlough recalls is well documented in each employee’s personnel file.

April 27th, 2020

Categories
News Numbers

Weekend Industry Data Update 4/25-26/20

6.5%

Revenue

22.5%

Transactions

20.6%

ATC

5.6%

New clients

Summary: Weekend stats we some of the strongest we’ve seen since the start of the Covid-19 crisis, only off 6.5% in revenue and positive new client growth. Similar trends to other weekends with lower transactions and very high ATC increases, see our March assessment on why we think this is.

iVET360 data source: 775 hospitals across all 50 states. Ave hospital size $2 million. Daily stats are compared to the same weekday last year (ie. Tuesday to Tuesday comparison). Month to date stats is based on calendar month over last year.

April 25th, 2020

Categories
News Numbers

Daily Industry Data Update 4/24/20

0.3%

Revenue

8.2%

Transactions

8.7%

ATC

11.3%

New clients

Summary: Friday saw some continued signs of a slow recovery, with Revenue almost flat and new clients up again over the prior period. Month to date revenue is off 16.7% driven by overall low transactions.

iVET360 data source: 775 hospitals across all 50 states. Avg hospital size $2 million. Daily stats are compared to the same weekday last year (ie. Thursday to Thursday comparison). Month to date stats is based on calendar month over last year.