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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...
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....
“What’s in Your Wallet?” Or rather…”What’s in Your Clients’ Wallet?”
Wilson McManus II, DVM CVPM & Kris Smith CVPM ~ Many of today’s veterinary hospitals can receive up to 80% of their payments for services and products electronically by credit card, debit card or App based payments. This percentage could be even higher in the...
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...
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,...
The Pathway to Veterinary Practice Ownership – I have a Degree and Enormous Student Debt – Now What?
David King, DVM, CVA – Simmons Southcentral Many moons ago the recently graduated DVM had several options when deciding on a career path. Most of the time the path led to practice ownership, now that may not be the case. The reasons may include a fear of taking on...
$15,000 Awarded to Virginia – Maryland College of Veterinary Medicine Student
Simmons Educational Fund - Committed to Investing in the Next Generation of Veterinarians The Simmons Educational Fund (SEF) honored Sara Beth Dodson, a student at the Virginia - Maryland College of Veterinary Medicine, with the prestigious SEF National Business...
Thoughts to Ponder for 2019 – From the Desk of Doyle Watson, DVM
As I sit here with writer’s cramp, I began to ponder messages that owners and associates may want to hear and consider going into 2019 and beyond. Buyers still available Although the swarm of corporate invaders continues to grow almost exponentially, there are many,...
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...
“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...
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...
“The Not So Free Yeti Cooler…” How Drug Costs Can Kill Your Profit & Veterinary Practice’s Value
Simmons & Associates MidSouth - Wilson McManus II, DVM, CVPM & Kris Smith, CVPM | Do you feel you have a successful, busy veterinary practice, but you consistently end up with little or no profit at the end of each month? Have you recently had a practice...
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