Practice Quiz

Veterinary Practice Manager

Category - CVPM

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Which of the following demonstrates an accurate method of calculating the lifetime value of a client in a veterinary practice?
  1. Estimate the cost of recruiting the client, minus the average transaction per visit
  2. Estimate the amount spent per animal, divided by the number of years the animal is expected to live
  3. Estimate the amount the person will spend, minus the cost to maintain this relationship
  4. Estimate the average transaction per visit, divided by the number of visits over the lifetime of the client
Explanation
Answer: C- Estimate the amount the person will spend, minus the cost to maintain this relationship is an accurate method of calculating the lifetime value of a client in a veterinary practice.
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