Going to the Dogs? Sikka Says Pet Parents Invest Heavily in Health of Their Pets

Despite COVID-19, U.S. Spending on Animals – Especially for Dental Procedures – Races Forward

Santa Clara, August 18, 2020: Sikka Software, a market leader in advancing retail healthcare connectivity, applications and insights, today announced the results of a months-long study into the veterinary industry about animal health during the COVID-19 crisis. Despite the devastating economic impact created by the pandemic across industries in the U.S., pet parents are investing in the health of their pets at a record pace.

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Guidance for Veterinary Practices through the COVID-19 Environment

Please join us for our Part II of our series of webinars on the COVID-19 impact of the veterinary industry, hosted by Rory Byrne, General Manager of Fintech at Sikka, in conversation with Dr. Matthew Salois, Director of the AVMA’s Veterinary Economics Division.

Watch the webinar.

We will present the latest data on veterinary practices production and procedures as the crisis continues and help guide veterinary practices through these challenging times.

Dr. Salois comes from the AVMA from Elanco Animal Health, where he served as director of global scientific affairs and policy since 2016, and as an economic research and policy adviser from 2014-16. Prior to joining Elanco, he worked as the chief economist for the Florida Department of Citrus and as an assistant professor in economics at the University of Reading in the United Kingdom.

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COVID-19 Impact on the Veterinary Industry

Join us for an insight-packed webinar, hosted by Christina Lopes, CEO and co-founder of The One Health Company, expert in precision medicine for dogs with cancer, in conversation with Benjamin Lewis, CSO of The One Health Company, expert in veterinary medicine. Also joining will be Rory Byrne, General Manager of Fintech at Sikka, as they shed light on the economic impact on U.S. veterinary practices. We will be providing an in-depth analysis of Sikka’s interactive U.S. heat map and discuss ways that practices can stay productive during this downtime and prepare when the shelter in place orders are lifted.

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Why We Won the Best in Healthcare APIs at API World

Wow! Our API was again judged the best in Healthcare by the folks at API World. For the second time in the last 3 years. And, our company also made it into the top 300 innovators – across all categories. It did take a moment for that to sink in. The first time, perhaps a lucky strike. But that’s twice now. There’s no lobbying for those awards, and they had fancy criteria to go by when judging the winner. Clearly, we did well on them.

To us, however, it comes down to just one thing. We let you – our API partners – scale. We understand what you mean when you say, I want to serve all dentists, veterinarians, optometrists, audiologists, oral and orthodontists and maxillofacial surgeons and I don’t want to be limited by the software they use to manage their hospital/practice and record the patient’s medical records. Without us, you would need to connect individually to the different software platforms used by each of the retail healthcare providers. It would be like learning 12 languages that are continuously changing. Actually, about 500 languages. You’d have to speak the language of each individual practice management software in the market. We cut it down to one. That’s what the One in Sikka One API is for. Your code for One API and you open yourself to a vast expanse of the market.

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Animal Hospital Charges per Invoice and Per Provider

Helping provide outstanding healthcare to animals requires active cash flow through an animal hospital to support purchasing inventory, staffing and salaries. Part of understanding cash flow is discovering trends in revenue generation, including when it is being generated, how much, and by who. This data allows for financial growth planning as well as estimating potential costs.

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Animal Health KPI

Sikka Software works with thousands of practices across United States, Canada, UK, Australia and New Zealand. We have been working with opt-in data without identifiers and only rollups and summaries for over a dozen years. As of this writing Sikka Software has 17,600 practices, over 19.1m active patients and processes approximately $4.5B worth of transactions a year. We keep track of the animal health key performance indicators and track them in real time across all of our opt-in practices. Interesting trends are emerging for the national trends data for animal health. While new patients dropped in February 2016 compared to both the previous month and previous year same month, the number of new clients actually saw a 2% growth.

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Sikka Software Corporation Rolls Out Integration with RingCentral to Drive Patient Communications and Engagement

Milpitas, CA,— October 1, 2015 Sikka Software Corporation, the Practice Optimizer Company®, today announced an integration with RingCentral, Inc. (NYSE:RNG), a leading provider of cloud business communication solutions. The integration will merge Sikka Platform Cloud™ for non-physician, non-hospital healthcare with RingCentral’s extensive suite of business communication services.

As Sikka continues to transform the customer experience, improve workflow and make communication more consistent across all channels, the integration with RingCentral will offer an unprecedented amount of data and insights, giving Sikka a leg up on competition within the $220B retail healthcare space that includes dentists, veterinarians, audiologists, optometrists and more.

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Holiday Related Pet Injuries

Sikka recently reported on how pet injury rates and veterinary clinic revenue increase significantly during holidays. This is due to exposure to risks such as new foods and situational hazards such as those related to camping or fireworks. From 2008 – 2014, July 4th was one of the top three days for increased invoice revenue from pet injuries. This update will examine the trends from the 2015 July 4th weekend and compare revenue generated to non-holiday calendar dates.

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Baseline Your Dentistry

Midmark approached the owners and staff of the five veterinary hospitals who participated in our study and asked how they were doing in the dentistry department of their practice. To a person, the responses spoke favorably of their dental case load, the number of cases they were doing daily and weekly. In fact, some exclaimed they were “booked out” for weeks. In order to accurately measure the impact of the improvements we were making as part of our proposed program, we asked for specifics: exactly how many dental procedures did you perform last year? What was your dental revenue? How did it compare to practice revenue?

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