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3 ways to get more out of your veterinary practice Improve compliance, client retention and profitability with compounding.

Š Copyright 2011 Wedgewood Pharmacy


Contents Get more out of your practice. 1. Non-Compliance: When pets won’t cooperate Increased information leads to increased compliance. 8 ways to make non-compliance a non-issue Did you know? The high cost of non-compliance 2. Client retention: a lost art Knowledge is power. Make time for patients. 7 ways to increase client loyalty and retention Did you know? The high cost of defection 3. Increase profits by saving time, lowering costs. 6 fresh ways to control your practice’s expenses Did you know? The drop in profits Let us do our part to help Convenient ordering Reducing preparation prices RefreshTM Exchange Program – a refreshing solution for expired medications Home delivery to your patients Guide to compounding pharmacy in veterinary practice

Customer Care Specialists and pharmacists are available: Monday - Friday 8:00 a.m. to 8:00 p.m. Eastern Saturday 9:00 a.m. to 5:00 p.m. Eastern 800.331.8272 WedgewoodPetRx.com

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Wedgewood Pharmacy 405 Heron Drive, Suite 200 Swedesboro NJ 08085-1749

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3 ways to get more out of your veterinary practice How to improve compliance, client retention and profitability.

Get more out of your practice.

Non-compliance, losing customers and increasing costs are key challenges that your practice faces every day. These challenges could cost your practice your most valuable assets: time, money and patients. That’s why we develop innovative ways to deliver medications, services and solutions that go beyond the basics, to help you with every facet of your practice.

Customer Care Specialists and pharmacists are available: Monday - Friday 8:00 a.m. to 8:00 p.m. Eastern Saturday 9:00 a.m. to 5:00 p.m. Eastern 800.331.8272 WedgewoodPetRx.com

Wedgewood Pharmacy 405 Heron Drive, Suite 200 Swedesboro NJ 08085-1749

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3 ways to get more out of your veterinary practice

Did you know? The high cost of non-compliance

How to improve compliance, client retention and profitability.

1. Non-Compliance: When pets won’t cooperate

Compliance is a serious issue for veterinarians and pet owners. Many pet owners don’t realize the dangers and consequences of abandoning or interrupting treatment, and most are not aware of other options that could make administering medications more pleasant for them and their pets. When they become frustrated with administering medication, they may just decide to take their business elsewhere. When non-compliance results in lost business, it could cost your practice more than you realize.

Increased information leads to increased compliance.

The more informed owners are about the consequences of non compliance, the less likely they are to stop their pets’ prescribed treatment regimens. We take patient care very seriously; our pharmacists and customer care specialists are available to answer any questions pet owners may have – either by telephone or in person. We offer printable patient-counseling materials and veterinarianauthored information online to give you and them important information about the compounded preparations you prescribe for their pets.

8 ways to make non-compliance a non-issue

1. Give pet owners information about the dangers of non-compliance. 2. Give pet owners simple, detailed instructions and easy administration techniques. 3. Prescribe medications that taste better. 4. Prescribe medications that are smaller and easier to administer. 5. Prescribe medications that are more affordable, when possible. 6. Provide automated refill reminders. 7. Make it easier, safer and more convenient for pet owners to get the medications they need. 8. Increase communication and follow-up with pet owners.

Customer Care Specialists and pharmacists are available: Monday - Friday 8:00 a.m. to 8:00 p.m. Eastern Saturday 9:00 a.m. to 5:00 p.m. Eastern 800.331.8272 WedgewoodPetRx.com

Several studies have been conducted regarding non-compliance among companion animals. Some of the findings may surprise you: • The rate of compliance for chronic medication is just 76%. That means an astounding 24% of pets are not being treated with the medications they need to live healthy lives – and in some cases, simply to live.1 • Pet owners who are shown one or more ways to administer medication had a significantly higher rate of compliance (73% vs. 59% for those not shown). Yet, only 43% of practices show pet owners how to administer medication.2 • 60% of owners would pay more for medication that is palatable and easy to administer.3 • 93% of veterinarians say that compliance monitoring has a positive impact on their practice.4 • 72% of pet owners would like to receive information in writing about their pets’ medication so they could refer back to it.5

Wedgewood Pharmacy 405 Heron Drive, Suite 200 Swedesboro NJ 08085-1749

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3 ways to get more out of your veterinary practice

Did you know? The high cost of defection

How to improve compliance, client retention and profitability.

2. Client retention: a lost art

A measure of success for any practice is the ability to retain patients. Even though you believe you’re doing everything you can, it isn’t always easy. There are many reasons pet owners switch practices. There may be reasons you can’t control, such as patient relocation, or reasons you can control, like lack of time or attention during office visits. Whatever the reason, client loyalty and retention are on a decline nationwide. And this trend could be costing your practice.

Knowledge is power.

When your clients feel they are true partners in the health of their pets, they are more likely to remain loyal to your practice. You, your staff, and your patients can find information about compounded medications such as printable drug monographs, dosage forms, diseasestate information and much more in our Learning Center at WedgewoodPetRx.com.

According to recent studies, the number of unhappy veterinary clients may be larger than you think: • The average companion animal clinic loses 10 - 15% of its client base every year.7

Make time for patients.

• 38% of patients never return after a first visit. The main reason is lack of attention from the practice and too little of the veterinarian’s time.8

7 ways to increase client loyalty and retention

• Only 25% of owners reported that their vet appointments lasted more than 10 minutes – a major reason why they switch.9

Pet owners’ biggest complaint, and the number-one reason they leave a practice, is that their vets don’t spend enough time with them.6 We understand that your time is valuable, and we’ve developed tools and services to help you preserve more of it. With our online payment and ordering options, automatic email order-confirmations and shipment-tracking notifications, fast delivery, guaranteed satisfaction and home delivery, you’ll have more time to spend with your patients.

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Provide information to owners so that they can become active participants in their pets’ health. Spend quality time with patients and their owners during office visits. Create a comfortable, welcoming environment. Provide ongoing training for your staff, so they can be increasingly responsive and helpful. Limit waiting time for pets and their owners. Increase communication and follow-up, like phone calls, with pet owners. Provide treatment solutions for hard-to-treat animals.

Customer Care Specialists and pharmacists are available: Monday - Friday 8:00 a.m. to 8:00 p.m. Eastern Saturday 9:00 a.m. to 5:00 p.m. Eastern 800.331.8272 WedgewoodPetRx.com

Wedgewood Pharmacy 405 Heron Drive, Suite 200 Swedesboro NJ 08085-1749

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3 ways to get more out of your veterinary practice

Did you know? The drop in profits

How to improve compliance, client retention and profitability.

3. Increase profits by saving time, lowering costs.

If you’re like most small-business owners trying to improve profitability, you’re looking for ways to increase efficiency and client retention, and decrease the cost of carrying inventory.

6 fresh ways to control your practice’s expenses

1. Reduce inventory – fewer products on your shelves means more money for the practice. Stop carrying items that you haven’t ordered in the past year. 2. Order so that your inventory arrives just before you need it. 3. Capture your client’s email addresses and send electronic communication – it is much more cost-effective than printed materials. 4. Pay bills with a credit card that gives you cash back. 5. Negotiate lower fees with your merchant account when your clients pay with a credit card. 6. Trade time spent with vendors for time spent with patients. Choose vendors that are reliable, high quality and easy to work with, vendors that are an extension of you, and are committed to improving efficiencies and the job satisfaction of your staff.

Customer Care Specialists and pharmacists are available: Monday - Friday 8:00 a.m. to 8:00 p.m. Eastern Saturday 9:00 a.m. to 5:00 p.m. Eastern 800.331.8272 WedgewoodPetRx.com

• 47% of veterinarians report that costs are rising.10 • 87% of veterinarians report a drop in volume of medication dispensed from their practices.11 • The average amount of drugs and medical supplies on hand per veterinarian is 16,804.12 • Drugs and medical supplies are a veterinary practice’s largest variable expense.13

Wedgewood Pharmacy 405 Heron Drive, Suite 200 Swedesboro NJ 08085-1749

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3 ways to get more out of your veterinary practice How to improve compliance, client retention and profitability.

Let us do our part to help.

We are committed to ensuring that your patients not only receive the proper medications they need, but also taking them as prescribed. That’s why we offer solutions like an array of tasty flavors and innovative dosage-forms to help make medications more appealing to even the most uncooperative animals; printable patient counseling materials that give owners information about the importance of adherence; and offer administration tips and refill reminders, so there’s no interruption in their pets’ treatment schedules.

Convenient ordering

It’s easy to order compounded preparations for your office at WedgewoodPetRx.com. Search by keyword, preparation, species or disease state and choose from among the 7,300+ formulations for more than 250 therapeutic agents in our formulary.

Reducing preparation prices

We reduce the time – and cost – it takes to prepare medication every time we compound a new preparation in Gourmeds or Tiny Tabs dosage-forms. When we minimize our costs, we can pass those savings on to you. When you are prescribing a common compounded medication in a capsule, ask for our pricing for these often more cost-effective dosage forms.

RefreshTM Exchange Program – a refreshing solution for expired medications

Throwing away compounded medications, which have conservative beyond-use dates, is a waste of money. Our industry exclusive Refresh Exchange Program lets you exchange recently expired and soon-to-expire, unopened, compounded preparations for those in our formulary, absolutely free – even if you bought them from another pharmacy. For more information and to enroll, visit WedgewoodPetRx.com.

Home delivery to your patients

Of course, we can ship medication directly to your office. But if you prefer, you can have prescriptions delivered directly to your patients – saving you shelf space and inventory carrying costs. At your request, we will bill and ship the preparations you prescribe directly to your clients’ homes. We’ll remind them by phone, email or mail when their prescriptions are due to be refilled. When you are ready to prescribe, visit WedgewoodPetRx.com 24 hours a day, 7 days a week. Provide us with your clients’ phone numbers or email addresses and we’ll contact them to let them know their prescriptions are ready.

Customer Care Specialists and pharmacists are available: Monday - Friday 8:00 a.m. to 8:00 p.m. Eastern Saturday 9:00 a.m. to 5:00 p.m. Eastern 800.331.8272 WedgewoodPetRx.com

Wedgewood Pharmacy 405 Heron Drive, Suite 200 Swedesboro NJ 08085-1749

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3 ways to get more out of your veterinary practice How to improve compliance, client retention and profitability.

Guide to compounding pharmacy in veterinary practice

Wedgewood Pharmacy has created a guide designed to help you better understand the role of compounding in veterinary practice with useful information such as how to select a compounding pharmacy, how flavoring medications may improve compliance and references to some of the regulations affecting veterinarians’ use of compounded preparations. You can find this information in the Learning Center at WedgewoodPetRx.com along with other practice tips.

Bonus for veterinarians: Request a free trial Rx for in-office evaluation of one of Wedgewood Pharmacy’s innovative dosage forms

Guide to compounding pharmacy in veterinary practice

Albers J, DVM, Hardesty C. Compliance: Taking Quality Care to the Next Level. Lakewood, CO: AAHA Press; 2009:5. 2 Ibid., 5-6. 3 Ibid., 8. 4 Ibid., 18. 5 Ibid., 7. 6 Ackerman LJ, Blackwell’s Five-minute Veterinary Practice Management Consult, Hoboken NJ: John Wiley & Sons, Inc.; 2006:72. 7 Ackerman LJ. Blackwell’s Five-Minute Veterinary Practice Management Consult. Hoboken, NJ: John Wiley & Sons, Inc.; 2006:78. 8 Ackerman LJ. Blackwell’s Five-Minute Veterinary Practice Management Consult. Hoboken, NJ: John Wiley & Sons, Inc.; 2006:78. 9 Albers J, DVM, Hardesty C. Compliance: Taking Quality Care to the Next Level. Lakewood, CO: AAHA Press; 2009:6. 10 Which expenses are on the rise? Veterinary Economics. 2007; 48 (8) :112. 11 Veterinary Economics. Benchmarks 2009: A study of well-managed practices. 12 Ibid., 7. 13 Ibid., 41. 1

Customer Care Specialists and pharmacists are available: Monday - Friday 8:00 a.m. to 8:00 p.m. Eastern Saturday 9:00 a.m. to 5:00 p.m. Eastern 800.331.8272 WedgewoodPetRx.com

Wedgewood Pharmacy 405 Heron Drive, Suite 200 Swedesboro NJ 08085-1749

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How to improve patient compliance, client retention and practice profitability