dvm360 Leadership Challenge: Go Your Own Way
What's your hustle, people? Do you need to pay student debt? Do you need a return on your practice—the biggest one possible? Are you worried about the legacy of your practice—and need an associate? Are you petered out in a team member career and want to own? Do you hate corporations? Do you need corporate benefits?
Corporate chains buy practices for more than associates can readily afford. Associates are flowing into specialty practices. So who’s going to buy the practices out there that are good but not great, and who’s going to keep the inspired, talented team members needed to make a good practice grow into a great one? We ask the experts what the future holds, and we delve into what successfully run practices do differently that everybody can emulate.
Corporate buyout? Don't freak out
Your veterinary practice being bought by a corporation could be a great thing.
Fishing for acquisitions: 12 things corporations look for in a veterinary practice
Fat-cat investors are hungry for great veterinary hospitals to buy, and they're baiting the nation's practice owners with juicy sale checks. Here's what they want in a prize catch.
How many practices have consolidators eaten?
Here are the most up-to-date numbers we could get on the number of veterinary practices owned by corporate consolidators and practice chains.
Choose your own adventure
Would you be happiest working at a small, privately owned veterinary practice or a larger corporate practice? Use these factors to help plot your career path.
17 differences between selling to a corporation and an associate
Is a corporate cat or a lone wolf the right buyer for your practice? Use this chart to weigh whether an associate or a corporation is the right buyer for you.
Spruce up your veterinary hospital to attract new associates or buyers
Small touch-ups and an objective look at your space will go a long way in getting an associate or other potential practice buyer interested.
Vet Confessions: Corporate, owning and the almighty dollar
Flip through actual confessions from your peers experiencing setbacks (and some successes, too!).
Forge your own path
Associates do it. Corporations do it. Even educated managers do it. Let's do it. Let's talk about buying a veterinary practice (when you're NOT the doctor).
If you don't want to see your practice sold to a corporation, maybe you should own it. Practice ownership offers a powerful path for women to take leadership positions in their practices. (We're looking at you, associates, managers and technicians!)
Associates: Is your perfect partner in plain sight?
If you want to own a veterinary practice but don't want to manage, a practice manager might be your perfect co-owner.
Crippling debt + more debt = less debt? We promise there’s method to this math madness, but it requires veterinary graduates to pull their heads out of their debt and consider practice ownership.
Two successful hospitals have spent years trying to find a veterinary associate. Are these isolated incidents or signs of a larger trend? While the experts deliberate, futures hang in the balance.
The world of veterinary medicine is always evolving. Should we really be staying stuck in time to keep independent practices "safe" from corporate medicine?