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Can You Manage Veterinary Practice Staff Expenses?
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...
Exit Strategy Checklist – Preparing Your Veterinary Practice For Sale
Click here for a printable PDF of this article: Exit Strategy Checklist 3 years before putting your veterinary practice on the market: Make quality time to write down your goals; develop a timeline; consider life after practice. Have a baseline practice valuation...
Is Your Veterinary Practice Exit Strategy Up To Date?
While this year always sounded like it was in the distant future, here it is. With it comes a unique opportunity to capitalize on your hard work and either sell your practice or work on a sound exit strategy. Following cultural events such as an election of a...
Selling Your Veterinary Practice – Private vs Corporate
By, David King, DVM, CVA, Simmons Southcentral Just like just about anything in life, deciding to sell a veterinary practice can be made easier with a little knowledge and a little planning. Knowing your options along with the pros and cons of each can help you make...
“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 With a Degree and Student Debt
David King, DVM, CVA – Simmons Southcentral In the past, the recently graduated DVM had several options when deciding on a career path. Most of the time, the path led to practice ownership, but that may not be the case now. 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...
Be Prepared: How the Scout Motto Applies to Veterinary Practice Owners and Exit Strategies
Baby boomers are getting older. Today’s average baby boomer is approximately 63 years of age, and by 2025, all baby boomers will be over the age of 60. For those in the veterinary industry, this has clear implications on the number of practice owners exiting their...
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