Clinic Profiles Project

Frequently Asked Questions

Who is it for?

Clinic owners who are: 

• Wondering how their clinic compares to their peers in Vancouver 

• Interested in exploring a change in remuneration models, or the impact of the LFP on their clinic overhead rates 

• Interested in exploring the impact of rising costs on business 

• New to the business, trying to understand how their business is performing so far 

• Exploring future scenarios such as clinic growth or upcoming physician retirements/departures 
  

What do you get for participating? 

• Overall analysis of your clinic financials, cost drivers of clinic and expense burden created by various operations 

• A customized VDoFP tool to support ongoing analysis in future 

• A summary report outlining major findings from financial analysis, and potential opportunities 

• A comparative analysis report comparing clinic metrics with other similar clinics locally  

The above is being covered by the Vancouver Division as part of the data gathering project.
The estimated value of the deliverables you will receive, free of charge, is over $7,000. 

What do you need to provide? 

• Financial statements or budgets from the last two years 

• General provider schedules 

• Any overall answers to minor questions as they come up 

• Time for 2-3 meetings of 1 hour each to share information about clinic, and walkthrough project findings presentation.
  The clinic owner’s time to complete this project is kept at a minimum.  

All specific clinic information and data will be kept confidential, only aggregate and average values will be shared with the Division and other participants.   

Other Information

• Those who are selected to participate will sign a confidentiality agreement with Hive Business Solutions, a 3rd party consulting group that carries out the analysis. A confidentiality agreement with the agency will be in place before any information gets shared.
• To protect the confidentiality and anonymity of participating clinics, the comparative analysis will rely on normalized aggregate data to glean insights that can help all types of clinics.
• The Vancouver Division will not have visibility or access to any specific clinic financial information as part of this project, only the aggregate results.
• For non-clinic owners interested in financial information as a result of this project, aggregate cost/data will be made available to all members once this project finishes.