Elise M. Lacher, CPA
The days of set it and forget it when it comes to monitoring your veterinary hospitals finances are done. You cant fly blind as an ownerso start asking questions of the financial advisors at your disposal.
There are pros and cons to each possible business entity you might choose for your new veterinary hospital. No matter what, talk to an accountant and remember you need medical malpractice insurance. Inc. or not, its always your license and personal liability on the line when it comes to cases.
Positive cash flow is the lifeblood of your veterinary business, but there is much more to managing cash flow of your hospital than just looking at the balance in your bank account.
A veterinary practice’s success is highly dependent on employee commitment and engagement, both of which skyrocket when constructive feedback is offered.
If your practice is located near a veterinary school, there is a gold mine of potential new employees waiting for you.