04.08.2021
1. Prepare yourself for some tough love.
You desperately want some new equipment for your practice. You have asked your manager many, many times, but they don’t seem to listen, and you still do not have the new equipment. It’s so frustrating! Well, you were warned, and the problem may not be your manager, it could actually be you…
Put yourself in your manager’s position. You are probably one of many in the practice or region who is constantly asking them for capital to spend on new equipment.
To really make an impression and be more effective, think like a business owner. Present a business case and show how the investment will help to both improve animal care, and the revenue of the practice. Ask the question; how is this new equipment going to help the practice gain and retain clients and business,
2. Spend some time preparing a business case.
Presenting an opportunity for investment is so much more effective than asking to spend money. Spend your time doing a little homework, then you can demonstrate the improvements to the practice and how quickly the equipment will pay for itself, and start delivering a profit for the business.
Remember to factor in training and service costs. Equipment like ultrasound machines take skill, practice, and confidence to use. Make it clear that time and money should be allocated for training. The very last thing your boss wants is to buy a shiny new piece of equipment, and then find that it gets left in a corner, gathering dust and not being used. Similarly, servicing should be carried out regularly to maintain optimal functionality and to prolong the lifespan of equipment, which will in turn increase the return from investment.
3. Look to the future
Thinking about future outgoings is really important when purchasing any system. If you are looking to move from computed radiography (CR) to direct radiography (DR) X-ray systems, consider that as CR systems age, there is a higher chance of mechanical issues. Therefore, it can be more efficient to upgrade to a DR system, rather than repair an older CR system. Similarly, if you move to a higher specification ultrasound system you may be able to improve profitability by performing more advanced ultrasound examinations. Also, if you are looking to build an orthopaedic or oncology service it might be time to consider if you have the workload to justify investing in a computed tomography (CT) scanner.
4. The proposal
Print out your calculations and take your boss through the figures. It might go something like this:
“If we purchase for £x and did x many scans a week at £x amount, it will pay for itself in x months. With a minimum lifespan of 5 years it will generate £x profit over that time. That includes all the service costs. So, when can I place the order…?”
As for those practices with multiple partners, following the steps above means you have all the calculations on one sheet of paper that you and your boss can share with all the other decision makers.
Now you are approaching your boss with a properly prepared business argument, demonstrating how an investment in new equipment will help improve animal care and also increase the revenue of the practice. Give it a go, what have you got to lose? From your boss’s perspective they can see you are serious, have done your homework, put the effort in, and, more importantly, can show the projected impact on the growth of the practice. Just remember, once that shiny new equipment arrives you have to back up your figures in real life. Otherwise, next time you present a business argument for new equipment, they will simply not believe you.
Good Luck!
