Business | Practice Finances

Im worried that todays corporate consolidators arent an answer for solo practices who cant find associates to buy them.

This happens in the contractor submittal process of your veterinary clinic redesign or new build, and its why you should keep your architectural team involved until the end of the project. Especially when it comes to installation of new products.

When the budget on your dream veterinary clinic project gets tight, here are some strong opinions from an architect and team with an award-winning hospital on how you can cut to still keep your design intact.

One veterinary lender at HospitalDesign360 conference revealed some of the questions to ask before you lock in financing for that new remodel, renovation or new veterinary hospital building.

Do millennial veterinary associates have the same needs as any other associate you've hired in the past? Well, yes and no says Dr. Eva Evans.

Its well known that veterinary professionals undervalue their time and services, but your clients might notif you play your cards right.

Selling to an associate shapes the future of the veterinary profession. In this era of corporate buyouts and growing multipractice chains, dont give up on selling to a smart millennial quite yet.

To secure the best price from a veterinary consolidator, sellers need to hire associates wholl stay on after the transition.

After your hospitals veterinarian has explained the need for a product or pharmaceutical, dont hand off your clients to websites, pet store employees and big-box aisles and aisles of competing products. If this is the right product for this pet, carry it. The sales will follow.

Veterinary practice owners: Here are five things you or a trusted practice manager can watch regularly to make sure raising prices isnt the only way your practice survives.

Every veterinary practice buyer has different needs and wants, but if you nail these 12 items, yours is a hospital anybodyd love to buy.

Many veterinary practices have seen their pharmacy sales for oral and topical drugs shrink. Have you explored all the injectables on the market?

How much of the local veterinary business is your practice capturing compared with your competitors? If you don't knowor if it's not a pretty picturethis AVMA tool can help you pin down a plan toward greater success.

The pool of potential cases for rehabilitation services in general veterinary practice is much bigger than you think, says Fetch dvm360 speaker Dr. Matthew Brunke.

A lesson in spending for veterinary professionals.

There are lessons to be learned from the many companies that have disappeared in recent years.

While its true that Disney reigns supreme when it comes to delivering superb customer service, that fact is that not all customer service models can be equal. Heres how the Disney model hurts our professionand what we can do about it.

In the past year, veterinarians, managers, technicians and other team members clicked on these personal finance articles to help them think about budgeting, expenses and retirement. Could they help you too?

A primer on Public Service Loan Forgiveness from the AVMA Econ team.

The latest generation, born after 1997 and graduating veterinary school in a few years, will have some things in common with millennials (who lived through a recession). Here are the major issues theyre likely to face based on todays economy.

Practice chains are paying many times what the next generation of practice owners can afford for good veterinary hospitals. Associates feel left out in the cold. Find out what expert Karen Felsted, CPA, MS, DVM, CVPM, CVA, says about the alternative: starting up a practice with zero clients when you open your doors.

Corporate consolidators are snapping up veterinary hospitals. Associate veterinarians scramble to find good ones left. And practice owners who werent thinking about selling all of a sudden wonder if nows the time. Heres how the process works.

When it comes to benefit plan compliance, its often the case that you dont know what you dont know.

When I took a new job as hospital administrator after 26 years at a new veterinary practice, the differences in associate pay, standards of care and geography just didnt work for me.

Even if you dont run a payback period or breakeven analysis before you buy a new piece of equipment for your veterinary practice, you still need to (honestly) answer a few questions with your management team.

Entrepreneurial millennial Dr. Eva Evans told Fetch dvm360 Baltimore attendees that associates might need a little mentoring and encouragement to think about owning a practice.

With the high cost of hiring and retaining veterinary practice employees, it's time to consider the mental health benefits of employee assistance programs (EAPS) to keep your team on track for success.

Get a sneak peek into how practice ownership gets a makeover from Dr. Julie Reck at Fetch dvm360 in Baltimore, Kansas City and San Diego this year. (Hint: It's about leading and hiring.)

What you charge and why are questions crucial to your businesss future. They signal the quality of your veterinary medicine and client service. And youre (probably) not thinking about them enough. Dont worry: The Veterinary Hospital Managers Association has a free white paper (this ones well-written) to help you.

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.