Key Metrics Every Veterinary Practice Should Track Weekly, Monthly, and Annually
Veterinary practice owners wear many hats — clinician, manager, leader, and entrepreneur. With so much going on daily, it’s easy to fall into “firefighting” mode and lose track of bigger business trends. That’s why it’s critical to have a rhythm for tracking key metrics at the right intervals.
Weekly, monthly, and annual reviews provide different perspectives on your practice’s performance. When done right, they create a real-time dashboard for smarter decisions, quicker adjustments, and long-term success.
Here’s how to break it down without getting overwhelmed.
Metrics to Track Weekly
1. Appointment Volume Monitor how many appointments are scheduled and completed. Quick shifts here often signal larger trends in client demand or staffing capacity.
2. New Clients Track the number of new clients each week. New client growth is a major health indicator for your practice’s future.
3. No-Show and Cancellation Rates Identify patterns early. A spike in cancellations can indicate scheduling inefficiencies or client communication issues.
4. Staff Productivity Measure key staff metrics like:
- Number of patients seen per doctor
- Revenue generated per technician, if applicable
Weekly numbers aren’t about perfection; they’re about spotting early trends and maintaining momentum. This is not something your advisor may be involved with unless the practice requests it, so assigning this to a staff member, preferably the office manager, and systemize recordkeeping will provide meaningful feedback to the owners while not expending their precious time.
Metrics to Track Monthly
1. Gross Revenue and Revenue by Service Line Track total revenue and break it down by services (e.g., wellness visits, surgeries, dental, diagnostics). This identifies which services are growing and which may need attention.
2. Average Transaction Value (ATV) How much revenue does each client visit or farm call generate? Monitoring ATV helps you measure pricing strategies, service bundling, and client education effectiveness.
3. Client Retention Rate Are your clients coming back? Measuring retention helps you gauge client satisfaction and loyalty efforts.
4. Expenses and Profit Margins Monthly expense tracking ensures you’re managing overhead effectively. Watch items such as staff wages as a % of revenue, cost of goods sold (COGS)/gross profit, and facility/administrative expenses. Remember to concentrate on other items identified in your goal-setting exercise.
5. Cash Flow Snapshot Look beyond profit to see how much actual cash is flowing in and out. This reveals operational health.
At CBAS we suggest using your monthly meetings with your business advisory/tax strategist to make small adjustments before minor issues become major problems.
Metrics to Track Annually
1. Annual Revenue Growth Are you growing year-over-year? Measure both top-line revenue and revenue per DVM.
2. EBITDA Margin EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) gives a clearer picture of operating profitability and practice valuation.
3. Staff Turnover and Retention Employee retention is critical to culture and client continuity. High turnover costs more than just money — it damages morale and client trust.
4. Client Lifetime Value (CLV) Understand the long-term value of a loyal client relationship. This informs marketing expenditure and retention strategies.
5. Owner Time Commitment How many hours are you personally working in versus on the business? If you’re trapped clinically full-time and dream of reducing your hours, this metric matters just as much as financial goals.
6. Investment in Continuing Education and Equipment Track how much you invest annually in staff development, practice/equipment improvements and technology advancements. Staying current enhances service quality and competitiveness. It also enhances salability if that is one of your goal.
Annual metrics are about reflection and strategic planning, whereas weekly/monthly/quarterly assessments influence day-to-day operations.
Build Your Metrics Rhythm
Metrics aren’t about micromanaging every number every day. They’re about building an informed rhythm. As discussed in other blogs, different periods produce different sets of assessments. By tracking the right numbers consistently at the right intervals, you stay proactive, reduce stress, and position your veterinary practice for sustainable success.
Do not become overwhelmed, chunk tasks down and start simple. Then stay consistent and watch how clarity transforms your leadership.
