Dr. Felsted is a CPA as well as a veterinarian and has spent the last 15 years working as a financial and operational consultant to veterinary practices and the animal health industry. She also spent three years with the National Commission on Veterinary Economic Issues as CEO. She has written an extensive number of articles for a wide range of veterinary publications and speaks regularly at national and international veterinary meetings. She is the current treasurer of VetPartners, a member of the Veterinary Economics’ Editorial Advisory Board, a member of the CVPM board of directors and the current treasurer of the CATalyst Council. In 2011, she was awarded the Western Veterinary Conference Practice Management Continuing Educator of the Year and in 2014, the VetPartners Distinguished Life Member Award.
Dr. Felsted enjoys exotic international travel, and when the dvm360 team last heard from her, she was headed to the Galapagos.
Discussing money with clients can be downright scary. Learning to present an estimate with poise takes the fear out of this critical task?and improves the odds that clients will say yes to your treatment plan.
I work for a corporately owned, small animal practice on a production basis. We occasionally allow clients to make payments, and we accept checks. When a client doesn't pay or a check bounces, that amount's deducted from my monthly production total, and the client's turned in to a collections agency. If the company then receives payment, should I receive back payment for my services?
I'm starting a small animal practice, and I'm hoping to add an associate with buy-in potential after two years. Which business entity would be best, a Limited Liability Company (LLC) or Service Corporation?
It should be straightforward: You tell your clients what to do, and they do it. Aren't client relations supposed to work this way? After all, you're a doctor, you have command of the English language, and your clients love their cats and want to care for them. Unfortunately, compliance doesn't happen as frequently as we'd like, even with intelligent, committed clients. Reversing this trend means understanding—and eliminating—the reasons for client noncompliance.