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Can Staff Expenses Be Managed?

Can Staff Expenses Be Managed?

Staffing costs are one of the most significant expenses in a veterinary practice and 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...

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Is your veterinary practice exit strategy up to date?

Is your veterinary practice exit strategy up to date?

Amazing to think that we will soon be in the next decade. While 2020 always sounded like it was in the distant future; here it is. A new year presents a new opportunity to capitalize on your hard work and either sell your practice or work on a sound exit strategy....

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I Just Want to Be a Doctor, Not an Owner/Manager Anymore!

I Just Want to Be a Doctor, Not an Owner/Manager Anymore!

By: Nikki Nitz, CPA, CMA - Simmons Northwest & Simmons Midwest A common theme I am hearing from potential clients right now is, “Nikki, I just want to be a doctor and practice medicine. I don’t want to deal with all the management headaches anymore.” Can you...

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Enterprise Goodwill vs. Personal Goodwill

Enterprise Goodwill vs. Personal Goodwill

What’s the difference, and what impact does it have on practice buyers and sellers? Byron Farquer, DVM, CVA Each veterinary practice has two main assets classes, tangible and intangible. Tangible assets include items you can pick up and carry around like furniture,...

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The Essentials of Teamwork in Veterinary Practice

The Essentials of Teamwork in Veterinary Practice

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...

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“Be Prepared” applies to Veterinary Practice Owners

“Be Prepared” applies to Veterinary Practice Owners

Scout’s Motto: “Be Prepared” applies to Veterinary Practice Owners The average baby boomer today is approximately 63 years of age and by 2025, all baby boomers will be over the age of 60. Obviously, this has implications on the number of veterinary practice owners...

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How to Buy a Fixer Upper Veterinary Practice

How to Buy a Fixer Upper Veterinary Practice

By: Jim Stephenson, DVM, CBA and Joe Stephenson, MA – Simmons Northeast It’s tough out there for veterinary practice buyers today. Every year a few new investors and/or corporate consolidators call me looking to spend way too much money on 2+ doctor practices. So how...

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