Veterinary Practice Financial Fitness
It is that time of year when many people assess their personal and professional lives and expectations, set goals for the future, and decide what to focus on to be healthy, happy, and successful in the year ahead. Just like you do with your personal health, you should conduct periodic examinations as an owner or […]
Veterinary Practice Goals for 2024
As we approach the end of each year, it is important to take time to reflect on the past year, review annual goals, and reset goals for the upcoming year. The majority of the population drifts through life aimlessly taking whatever life hands them. They spend more time planning their family vacation than they do […]
Four Ways to Increase Your Veterinary Practice’s Bottom Line
You’re proud of your practice and for good reason. You have an attractive facility, a well-trained staff, newer equipment, and a solid client base making it a comprehensive, client-oriented practice. But you may have concerns that your veterinary practice profitability isn’t where you’d like it to be, or you do not see the fruits of […]
Are You Sure Your Veterinary Practice Is Making a Profit?
Over time practice appraisers and brokers will invariably become aware of a disturbing phenomenon in the veterinary medicine profession — a significant number of practices valued substantially lower than expected. This problem stems from one problem, Veterinary Practice Profitability. Since practice value is so closely tied to profit, these practices have meager profitability. But what […]
3 Teamwork Essentials to Meet Your Veterinary Practice Goals
By: Casey Dubbs, Sherry Everhart, BS, RVT, and David McCormick, MS, CVA “Not finance. Not strategy. Not technology. It is teamwork that remains the ultimate competitive advantage, both because it is so powerful and so rare.” – Patrick Lencioni Most practice owners want to have a cohesive, efficient, motivated team. It’s essential to practice growth, […]
Tips to Help You Manage Veterinary Staffing
Veterinary staffing costs are one of the most significant expenses in a veterinary practice. Controlling these costs remains one of the most challenging issues for most practice managers and owners. Even in actively managed practices, it still can be a struggle to get staffing to an optimum and replicable level. Looking into vet practice staff […]
Increase Practice Value with Veterinary Practice Valuations
Increasing the value of your veterinary practice takes a lot of time and effort. If the sale of your practice at the end of your career is an important aspect of your retirement planning, consistent veterinary practice valuations can make a huge difference in what your eventual sales price. Knowing the elements that create value, […]
Mistakes Owners Make That Hurt Their Practice’s Value
Practice owners focus so much on the daily challenges of patient care, client service, and staff management that they overlook factors affecting profitability and practice value. In this session, the authors discuss the most important factors that drive down value. Some may involve circumstances beyond your control, while others are manageable if properly addressed. We […]
Your First 6 Weeks of Veterinary Practice Ownership
Byron Farquer, DVM, CVABuying a practice is so exciting you can almost feel tangible energy in the air! There are also significant potential mistakes lurking in the shadows, and you can choose to blindly plod through the early days of ownership or tread carefully and wisely. The single most important piece of advice in veterinary […]
10 Steps to Increase Your Veterinary Practice Value
When evaluating your veterinary practice, you do not want to be surprised by what you find out. That is why it is necessary to have a current knowledge of its value as well as what you can do to increase it. Read on to learn the steps you can take to help your practice be […]
