Business

Q I'm a recent graduate, and I find that the clients I see have no preference for which doctor examines their pet. How can I develop my own clientele?

The rising cost of health care is taking a bigger chunk of the pie when it comes to the total compensation employers pay to employees.

Valley Animal Hospital in Roanoke, Va., helped people looking for love as well as abused animals by hosting a "Speed-Dating for Pet Lovers" night. The fundraiser was for the clinic's SPIRIT fund, which defrays veterinary care expenses for abused animals. "We hosted it as a typical speed-dating setup but participants had to have a pet, and the admittance picture had to be of the owner and pet together," says owner Dr. James Poage.

A new campaign launched by the American Association of Equine Practitioners and Fort Dodge Animal Health aims to let owners know their horses should get exams twice a year—in the spring and fall.

Take one IV bag, stir in a concerned client, and add a dash of helpful team member.

Q What's the typical turnover rate for front-office team members? How do I know if my turnover's too high?

How one practice successfully promotes dental care.

In November, President Bush signed into law an addition to the Agriculture Appropriations Bill that supports the development of open technology so all scanners can read all microchips.

"Accounts receivable in most small animal hospitals should never exceed 2.5 percent of the yearly gross income. For equine and other large animal hospitals, 4 percent to 5 percent of gross revenue is the norm," says Gary Glassman, CPA, a Veterinary Economics Editorial Advisory Board member and partner with Burzenski and Co. PC in East Haven, Conn. Most practices struggle because they lack good procedures to ensure collection, he says.

You've seen it before: Sweet little white-haired Mrs. Smith turns into the Queen of Mean when she gets her first gander at her bill.

Consider starting annual, seasonal, or quarterly events to expand your client base and retain current clients. Be creative: Make your promotions fun; make them silly!

I'm a bovine practitioner looking into ProSal compensation for my associates. I'm concerned with the percentage used to calculate the portion of the salary above the base. What percentage profit should a practice owner expect to make off of his associates?

As graduation approaches, my mind is a whirlwind of questions, concerns, and hopes. I'm ready to practice?mostly. Yet there's one topic that leaves me wary: salary. While production-based compensation and traditional salary historically have been the only two options, they each have room for improvement. But there's a third choice: the ProSal formula, developed by Hospital Management Editor Mark Opperman, CVPM. To understand why I think ProSal is right for me and other new associates, consider these pros and cons.

Choppers, fangs, incisors-call them what you like, but don't forget to celebrate them this February.

Don't let those New Year's goals slip away. Act now.

Relief veterinarians are typically treated as independent contractors responsible for their own income taxes and the reporting of their earnings and expenses. And most relief veterinarians conduct their practice activity as sole proprietors. Based on this, you'd report net income or loss from your relief practice on your personal income tax return. There are several important rules you should be aware of, however.

When clients go out of town and leave their pet with someone, suggest that they make a temporary pet tag that lists the name, address, and phone number of the sitter.

Projected increases in mortgage rates will likely lead to a drop in home sales in 2006, the Mortgage Bankers Association predicts.

One of the great things about working on a magazine is that every month our team gets to meet more veterinarians. There are always new people calling with a question, sending us letters and practice tips, and submitting articles. Building those new relationships is very rewarding. And each one of you has an interesting story to tell.

The best of both worlds, the ProSal compensation formula pays associates on a percentage of production and guarantees a base salary. Find out why this method's a top choice for associates, and why you'll like it, too.

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?

Use these tips to stay cool as a cucumber when clients get hot under the collar.

A few ill-chosen words can leave your message garbled. So if you see confusion or anger when you expected a smile, rewind your conversation and look for these verbal miscues.

At one time, the mass market was every veterinarian's target population. Today's best strategy, however, is niche marketing, which targets a specific population of pet owners, identifying their needs, and then addressing those needs more competently than anyone else.

ORLANDO - 01/08/06 - Every professional practice should incorporate public relations in its marketing strategy. That was the message from Dr. Jim Humphries, whose experience when dealing with the media helped him spearhead the Veterinary News Network, a collaborative effort to represent veterinary medicine to local television and newspapers.

Starting this month, 401(k) plans can offer a Roth 401(k) provision—which could be a better option for your retirement savings.

Use this sample to develop your own written warning notice.

If your burgeoning practice is making you claustrophobic, try these strategies to accommodate growth.

You're looking for improved profitability but could end up with high turnover and service breakdowns.

Q How should salary expenses for staff as a percentage of revenue differ for an emergency or 24-hour practice compared to a traditional practice?