IS YOUR VETERINARY BUSINESS BEING OVERCHARGED FOR VITAL BUSINESS SERVICES?

Your team has more important things to do than conducting thorough audits of your expenses. Thankfully, that’s what Schooley Mitchell does, all day, every day. We optimize your expenses so you can focus on doing what you do best – providing health care for animals.

At Schooley Mitchell, we’re entirely independent. Our consultants don’t accept kickbacks or incentives from service providers, and our process is completely risk-free. In fact, we’re so confident in our ability to generate savings for our clients, we’ve based our business model on that very fact. If we can’t deliver on savings, we don’t get paid.

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Case Study

The Client:

  • Signs a Service Agreement that covers our business terms
  • Provides us with bills, or online access to their accounts, so we can establish a baseline of their current rate structure
  • Signs a letter of agency, so we can negotiate with their current vendors
  • Describes their current processing environment

Schooley Mitchell:

  • Uses our benchmarking data to research options and negotiates better pricing for the client
  • Requests, reviews, and validates competitive quotes from other processors
  • Negotiates with the current vendor for a re-rate
  • Compiles our research and recommendations into a Value Report
  • Assists with the cancellation of services if needed
  • Assists with compliance standards
  • Implements pricing and changes
  • Confirms the new price 30 days after implementation
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Part 1: Client Background

Client A is a single-location veterinary practice focusing on family pets. Client A engaged Schooley Mitchell to ensure they weren’t overpaying on their non-veterinary expenses, like payment processing.

Important Factors - Payment Processing:

  • Payment processing was a considerable expense for Client A.
  • They were on a tiered pricing structure with theirincumbent payment provider.
  • They were not under an appropriate rate structure leaving room for savings.
  • They were spending $46,220.04 per year on payment processing fees.

Part 2: Savings Results

Schooley Mitchell negotiated with several payment processors, including Client A’s incumbent vendor, who was willing to provide a more competitively priced rate structure.

This resulted in an estimated reduction of $16,970.52 per year - or roughly 37%

This was all achieved without any changes to Client A’s payment processing structure.

Across the term of our engagement, Client A is saving $50,911.56!

Part 3: Implementation & Post Audits

Schooley Mitchell provided a timeline for implementation, including accurate instructions for steps involving Client A’s vendors.

Schooley Mitchell verified implementation within one month, dependent on the necessary invoices presented.

The client received a detailed implementation report outlining a savings summary for the next three years.

Following implementation, Schooley Mitchell continued to monitor Client A’s invoices quarterly, to ensure the agreed upon rates were being honored, and ensure any billing errors were caught right away.

Waste

How predictable is your waste every month?

Variability in your waste from month-to-month makes a big difference to certain service providers.

Is your container size and collection frequency optimized?

Finding a provider that is both cost effective and meets your needs can be challenging.

Are your waste disposal fees changing frequently over the course of the year?

A professional audit of your expenses can get to the bottom of it.

Merchant Services

Do you reference the "effective rate" to evaluate how competitive your processing fees are?

A blended pricing structure makes it more difficult to fully understand all the factors impacting your fees.

Do you know how your current processing environment impacts your processing fees?

How you process payments and capture data can have a big impact on your monthly fees.

Have you asked your processor to provide you an "interchange-plus pricing" quote?

This pricing structure is often the least expensive and most transparent option.

Telecom

Have you conducted a recent usage audit across your telecommunications system?

In many cases, we find inefficiencies and redundancies in the number of lines and features.

Have you considered moving to a Voice over IP platform?

Cloud based telecommunications systems typically provide unique features at lower costs.

Do you know when your current plan automatically renews?

Companies typically only have a 30-day window to make changes to their current contract.

Shipping

Have you considered splitting your shipping business across multiple vendors?

Vendors tend to specialize in certain areas so playing to their unique strengths can reduce your overall costs.

Are you paying for unnecessary delivery guarantees?

Being more flexible on delivery times can significantly reduce your costs.

Do you review your monthly statements to ensure the correct charge codes are used?

Charge codes can be very confusing and require a detailed review to ensure you are being charged correctly.

Compressed Gases

Do you think your compressed gases expenses are written in stone?

Commodity markets can be complex and confusing, making it difficult for business owners and managers to navigate.

Are you certain there are no billing errors in your invoices?

There are opportunities to optimize pricing structures and recover billing errors.

Are you receiving all tax benefits available to you?

Your business might be missing out on significant savings opportunities.

Jorge Jeffery

Strategic-Partner
Office: 424-272-5333

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