Finance

It could be nothing more than a passing trend. Or it could be the future of veterinary practice marketing. Here's what you need to know about Groupon and other daily deal websites.

Ask yourself these important questions to see if you're ready to take the plunge into ownership.

You're used to handling most aspects of running your veterinary hospital yourself. But sometimes it's best to ask for help.

Chapter 4 of a nine-part video series about the Veterinary Care Usage Study by Dr. Karen Felsted, CEO of the National Commission on Veterinary Economic Issues.

It's not a glamorous title, but polishing your communication skills can help attract business from clients whose cats experience litter box problems.

The real reasons behind one of the veterinary industry's biggest problems.

Even in these difficult times, you can grow your practice by focusing on productivity

Do you have what it takes to create your own successful side business?

Accurate and complete financial recordkeeping is important to any hospital owner, but is also important to those who work with the veterinarian. People both inside and outside the hospital all depend on the accurate recording of financial transactions.

For more than a decade, the rule of thumb for setting fees in veterinary medicine was simple: Raise 'em! The corollary to this rule of thumb was: don't worry about clients not wanting to pay; if you communicate the value of the procedure, they will gladly open their pocketbooks.

Consider developing a monthly statistical analysis report for your practice. Take a pulse of your practice by understanding the monthly statistics that are important and track them in a comparative format; month to month, year by year.

For more than a decade, the rule of thumb for setting fees in veterinary medicine was simple: Raise 'em! The corollary to this rule of thumb was: don't worry about clients not wanting to pay; if you communicate the value of the procedure, they will gladly open their pocketbooks.

Budgets should an integral part of your overall financial plan. With budgets in place you are more likely to control the financial destiny of the practice.

Do you divide your staff responsibilities? By dividing responsibilities you reduce the opportunity of potential stealing from your hospital. Basically you should never have one person handle all aspects of a task. For example, the receptionist who handles money directly shouldn't be the person who prepares and makes the bank deposit.

Part of the reason technicians, doctors and other team members choose to work in the veterinary field is because they care about pets and want to see them get the care they deserve.

One of the many unhappy lessons veterinarians and their teams have had to learn from the recession is that clients don't have bottomless wallets filled with cash to spend on veterinary care.

Understanding profitability in a veterinary hospital can be like understanding a Chinese puzzle. Defining profitability can be confusing based upon the entity type.

Don't just sit around waiting for good things to happen. Go out and make your own luck.

Your financial health is just as important as your veterinary practice's. Use this advice to make sure you're well off now and in the years ahead.

Learn how to record your business travel expenses correctly to avoid an audit-or survive one if you're targeted.

One veterinarian retires in flush times, and two need to wrestle with the recession. See where they end up with different choices.

You can shake your Magic 8 Ball as hard as you want, but even that can't tell you for sure whether you should sell now or hold out. But here are a few indicators that the veterinary practice sale market is poised for growth.

What to do with an overcompensated employee

Every one of your team members might work hard, but taking a one-size-fits-all approach to doling out raises isn't fair to your best performers. So pump up your superstars' salaries by using one of these proven strategies instead.

Three dozen attorneys, lenders, accountants, brokers, consolidators, and consultants who are actively involved in buying and selling veterinary practices weigh in on the future of veterinary practice sales.

Don't let your emotions get the best of you-whether you're a buyer or a seller

National Report - Prices are rising across the board, from food to gas. What do these escalating costs mean to veterinarians?

National Report - While the cattle herd has shrunk over the years as grazing space dwindles, there are new signs of optimism in the market.