Daily Breakeven Analysis While Sheltered In Place Orders in Effect
Budgeting is a foundation stone to cash management, and in an uncertain economy, practice owners should revisit daily breakeven computations for strategically planning resource utilization and borrowing needs.
While we can talk about capital infusion options elsewhere, we believe running your current numbers and solidifying daily cash needs is an important first step.
To that end, our team brushed off the breakeven calculation Excel workbook we have shared with many of you in the past, and created a version intended to capture variables resulting from the current C-virus reality.
The Excel workbook computes a breakeven cost per day. This model does not include calculations for building in potential profit or long term financial planning. The intent of this calculation is to assist you in determining the impact of reduced work-force, client revenues, and/or open days.
If you determine that you would like more customized assistance, please contact our office and we can discuss setting up an engagement to help.
We are confident that this will assist you in planning for your practice during these challenging times.
Articles
Practice liquidity during a pandemic: A guide to the small business loans offered through the CARES Act
Webinars
April 8, 2020 - this webinar is of interest to ALL veterinary practice management teams
COVID-19 Business Continuity Planning for Equine Practitioners - Part 1
COVID-19 Business Continuity Planning for Equine Practitioners - Part 2
Veterinary Hospital Managers Assocation
March 31, 2020
Coronavirus - Financial Matters Owners and Managers Need to Focus On
April 16, 2020
Coronavirus - Payroll Issues Managers Must Know
Ohio Veterinary Medical Association
April 17,2020

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