CVPM flashcards
CVPM · Build recall with a focused review session.
31 cards. Read the term and the definition here. The deck at the top of this page is optional.
- Gross revenue per veterinarian
- Total practice gross revenue divided by the number of full-time-equivalent veterinarians. It measures individual doctor production and is compared against regional benchmarks, not against profitability.
- Cost of goods sold percentage
- Inventory and medical supply costs divided by gross revenue. A rising percentage with flat revenue points to pricing, waste, or shrinkage rather than to weak client demand.
- Break-even revenue
- Total fixed costs divided by one minus the variable cost percentage of revenue. It is the revenue level at which the practice covers all costs and earns zero profit.
- Markup to margin conversion
- Margin equals markup divided by one plus markup. A 100 percent markup yields a 50 percent gross margin, and a 50 percent markup yields a 33 percent gross margin.
- Inventory turnover ratio
- Annual cost of goods sold divided by average inventory value. Months of inventory on hand equals 12 divided by turnover; 1.5 to 2.5 turns per year is a common small-animal benchmark.
- Accounts receivable aging
- A report grouping outstanding client balances into 0 to 30, 31 to 60, 61 to 90, and over 90 day buckets. Growth in the oldest bucket signals a collection-process failure.
- Full-time equivalent
- Total paid hours per week divided by 40. Staffing and productivity ratios use FTE rather than headcount so part-time and full-time staff are compared on a consistent basis.
- FLSA exempt test
- The Fair Labor Standards Act requires overtime at 1.5 times the regular rate for non-exempt employees after 40 hours in a workweek. Exempt status depends on salary level and duties.
- Hazard communication program
- An OSHA requirement that the practice maintain a written program and Safety Data Sheets for every hazardous chemical, plus labels and staff training on handling and spill response.
- Employee turnover rate
- Separations during a period divided by the average number of employees during that period, annualized for comparison. It is tracked by role because turnover costs differ widely.
- Progressive discipline sequence
- Documented verbal warning, written warning, final written warning, then termination. Each step requires a dated record, the specific issue, and the employee's acknowledgment signature.
- Compensation benchmarking
- Setting pay bands by role and experience using regional veterinary salary surveys, with a documented review interval and consistent application across comparable employees.
- Appointment utilization
- Booked appointment minutes divided by available appointment minutes. Below roughly 85 percent utilization usually indicates gaps in scheduling, reminders, or client confirmation processes.
- Practice bottleneck
- The resource that limits total throughput. In most small-animal practices the veterinarian's appointment slots and exam rooms constrain volume more than the treatment area does.
- Medical record standard
- Records must be contemporaneous, dated, signed by the author, and legible. They are the legal record and the primary evidence in board complaints and malpractice claims.
- Controlled substance log
- A record of date, patient, drug, amount, and prescriber for every transaction, reconciled periodically against the physical count. Discrepancies must be investigated and documented.
- Reorder point formula
- Average daily usage multiplied by lead time in days, plus safety stock. Par levels are set per item so reorder decisions do not depend on staff memory.
- Standard operating procedure
- A written statement of the task, the responsible role, the frequency, and the required documentation. SOPs support training and provide the basis for internal audits.
- Client lifetime value
- Average transaction value multiplied by visits per year multiplied by retention years. In mature practices, improving retention usually returns more than equivalent acquisition spending.
- Marketing funnel stages
- Awareness, interest, conversion, retention, and advocacy. Each stage has its own metric, such as reach, inquiries, booked visits, repeat visits, and referrals.
- Preventive care compliance rate
- Patients receiving a recommended preventive service divided by eligible patients. It measures the care team's recommendation and follow-up rather than client demand.
- Reminder escalation schedule
- A defined sequence using text, email, and phone at set intervals after a due date. A single postcard is insufficient for recheck and vaccine reminders.
- Marketing return on investment
- Revenue attributable to a campaign minus campaign cost, divided by campaign cost. Attribution requires capturing the client's source at first contact.
- Situational leadership model
- Leadership style matched to follower readiness: directing for low competence and high commitment, then coaching, supporting, and delegating as competence and commitment rise.
- Transformational leadership components
- Idealized influence, inspirational motivation, intellectual stimulation, and individualized consideration. Transactional leadership instead relies on contingent reward and management by exception.
- Team development stages
- Forming, storming, norming, and performing. Conflict during storming is normal and should be managed openly rather than suppressed or avoided.
- SMART goal criteria
- Specific, measurable, achievable, relevant, and time-bound. A goal lacking a metric and a deadline cannot be evaluated or revised on evidence.
- Delegation versus abdication
- Delegation transfers authority and outcome accountability while the leader retains oversight. Abdication hands off the task without follow-up and is a common leadership failure.
- Unfreeze-change-refreeze
- The change management sequence in which the reason for change is communicated before the process change, then new behavior is reinforced and stabilized.
- Veterinarian-client-patient relationship
- The veterinarian has assumed responsibility, has sufficient knowledge of the animal, and is available for follow-up. Prescribing without a valid relationship is generally prohibited.
- Informed consent elements
- Disclosure of diagnosis, treatment options including declining care, material risks, and cost estimate, documented in the record before the procedure begins.