Zoetis Introduces Financial Management Service For Veterinarians
Scientific approach to improving business health
FLORHAM PARK, N.J., Dec. 11, 2013—The Companion Animal Division of Zoetis Inc. announced today it has partnered with Fee Technology, Inc. of Austin, Texas, to offer Profit Solver™ to veterinary practices nationwide. Profit Solver, the exclusive small business financial management service, provides a simple way for small animal clinics and hospitals to remain financially viable even in challenging times.
“As veterinarians, our primary goal is to practice medicine,” said J. Michael McFarland, DVM, DABVP and group director of Companion Animal Veterinary Operations for Zoetis. “The unique technology developed by Profit Solver allows veterinarians to maintain their financial health and afford the technology and tools they need to do what they love most—care for companion animals.”
The program allows veterinarians and practice managers to make accurate and informed decisions about how best to manage costs, pricing and new equipment purchases. It is a cloud-based resource used to determine profitability based on actual hospital expenses. The patented product allows practices to determine profitability based on their own specific circumstances and includes comprehensive training by Fee Technology consultants.
“We are pleased to partner with Zoetis, the leader in animal health, to bring our company’s flagship business solution to more veterinary practices and help them effectively address their financial challenges,” said Fee Technology founder Dan Zalta. “Profit Solver is a scientific and fair way for veterinarians to cover costs. It uses each individual practice’s data, not national or regional benchmarks, so the recommendations are practice-specific.”
Profit Solver was developed when Zalta was trying to help a friend save his struggling veterinary practice. He developed a methodology to appropriately price products and services that ultimately became the patented program Profit Solver, Fee Technology’s flagship offering. After an extensive review of an 18-month test in select veterinary hospitals, Zoetis entered into an exclusive agreement with Fee Technology to offer Profit Solver to its customers across the United States.
“When we started using the Profit Solver system, we set a goal for the first two years,” said Tiffany Ayers, CVPM, practice manager at the Patton Veterinary Hospital in Red Lion, Pa. “We exceeded that goal after just one year using the service. It was simple to incorporate into our hospital practice and is easy to use and maintain.”
“It is our goal to support customers not only with the best medicines available, but also by providing services that uniquely support the health of their practice,” said Ted Gannon, director, Marketing, Veterinary Business Solutions, U.S. Companion Animal. “Profit Solver is one example of a growing suite of premium service solutions, offered exclusively through Zoetis’ Veterinary Business Solutions portfolio, which our field force now has to offer the veterinary practices they serve.”
For more information on Profit Solver, veterinarians may contact their Zoetis sales representative or visit https://online.zoetis.com/US/EN/Solutions/Pages/ProfitSolver.aspx.
Zoetis (zō-EH-tis) is the leading animal health company, dedicated to supporting its customers and their businesses. Building on a 60-year history as the animal health business of Pfizer, Zoetis discovers, develops, manufactures and markets veterinary vaccines and medicines, complemented by diagnostic products and genetic tests and supported by a range of services with a focus on both farm and companion animals. In 2012, the company generated annual revenues of $4.3 billion. With approximately 9,300 employees worldwide at the beginning of 2013, Zoetis has a local presence in approximately 70 countries, including 29 manufacturing facilities in 11 countries. Its products serve veterinarians, livestock producers and people who raise and care for farm and companion animals in 120 countries. For more information on the company, visit www.zoetis.com.
Zoetis is the proud sponsor with the Smithsonian Institution Traveling Exhibitions and the American Veterinary Medical Association of the mobile educational exhibit Animal Connections: Our Journey Together. Families visiting the exhibit will explore the vast bonds between people and animals and learn about the important role veterinarians play in protecting animal and human health.
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