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How do you determine expected yearly production for veterinarians? How should it change based on years of experience?
"Expect production to be at least $250,000 a year," says Veterinary Economics Hospital Management Editor Mark Opperman, owner of VMC Inc. in Evergreen, Colo. An associate who's producing $200,000 a year, making 21 percent of production, would only earn a salary of $42,000. Starting salaries are closer to $50,000, so an associate needs to produce at least $250,000 a year, Opperman says.
"Production should go up yearly, because a doctor will become more efficient and better able to market his or her services," he says. "And each time the practice increases its fees, the doctor's production should increase, too. A well-seasoned doctor can produce $500,000 to $800,000 or more depending on how well the practice leverages team members, which translates into $105,000 to $168,000 if he or she earns 21 percent of production."
Mark Opperman, CVPM