The VetDebt Recovery Compass tool provides a way for practices to understand how outstanding payments affect their cash flow and practice value, and what steps to take next.
Mike Brooks, Chairman at DSL UK (pictured), said: “The VetDebt Recovery Compass offers a quick and easy way to see the true financial impact of unpaid debt.
"By making this information free and accessible to everyone, we hope to empower veterinary teams to take control of their finances.
DSL says that the new tool, which is available at www.dsluk.net, allows practices to see both the immediate recovery potential and the long-term value impact of their debts in less than 30 seconds.
The calculator also provides a species-specific breakdown, helping to identify where debt issues may be most significant and where to target first.
Mike has also appeared on the Federation of Independent Veterinary Practices (FIVP) Practice Matters Podcast, discussing how practices can better manage the topic of debt: https://fivp.org.uk/ep023-fivp-practice-matters-at-spvs-the-farm-vet-journey-practice-debt.