Heart + Paw introduces a new model for co-ownership
Content submitted by Heart + Paw, a dvm360® Strategic Alliance Partner
It’s a great time to be a veterinarian and start your own practice. However, for many veterinarians, the opportunity to do so may feel not only out of reach, but also overwhelming. Practicing the highest level of care, while also growing a practice, and managing a team, plus the financial requirements to open and operate a business, the high cost of diagnostic equipment and required technology platforms, a shortage of veterinarians and veterinary technicians, and, you get the idea.
There are a record number of pets in the US, and as pet owner spending is reaching all-time highs so are veterinary care expectations. This means exam rooms that are exclusive to canine or feline patients, state of the art equipment and surgery suites with monitoring equipment and diagnostic equipment, such as leading-edge radiology and ultrasound equipment, cytology machines and more, plus interest in a convenient location for veterinary care, grooming and daycare. Beyond the physical location, current technology is also required to provide pet parents with immediate access to their pet’s medical records and valuable health information, while also providing the ability to schedule and manage appointments.
Given all of these requirements, veterinarians have much to think about and many options to explore when building a practice. A co-ownership model can provide support functions like marketing, accounting, human resources, recruiting for additional veterinarians and other talent, and information technology, which, in turn, gives the veterinary team freedom to focus on their patients and practice the highest level of care while creating a best-in-class culture within their practice.
Enter Heart + Paw—an established group of full-service veterinary practices offering comprehensive veterinary care services, routine wellness, dental care, imaging, diagnostics, and surgery—and its business model comes in. Their co-ownership model provides an opportunity for entrepreneur-minded veterinarians to design, build, and co-own a practice, plus receive a comprehensive benefits package, and the ability to grow and share in the profits produced by the practice. Each practice is supported by a veterinarian-led operations team who provide medical and business guidance.