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Leslie A. Mamalis

Leslie A. Mamalis

MBA, MSIT, CVA

About the Author

Leslie A. Mamalis is the owner and senior consultant at Summit Veterinary Advisors. She provides practice valuations, profitability assessments, feasibility analyses, and financial consulting to veterinary specialists and general practices. She is co-chair of the VetPartners Valuation Council. Learn more at summitveterinaryadvisors.com

Written By This Author

Practice Management

Checks and Balances

When veterinary hospital leaders insist that they can’t find qualified people to hire, the truth sometimes is that no one will work for the wages that the employers are willing to pay.

Finance

Inflation Considerations

If your pricing strategy is tied to inflation, then yes, a greater increase is needed now to counteract rising costs.

Practice Management

Who’s Your Go-to Person?

Practice managers should be encouraged to put their hard-earned skills to work.

Finance

Unpleasant Consequences

If you want the best price for your practice, it must be profitable without you.

Practice Management

How Average Are You?

Don’t automatically fear the worst if your practice defies industry benchmarks. You might have good reason to be where you are.

Practice Ownership

Your Ownership Choices

Single-doctor practices aren’t corporate magnets. Consolidators are more interested in larger, multidoctor practices.

Finance

How to Account for Your COGS

A chart of accounts is a framework for financial statements, similar to how the skeletal system is a framework for the body.

Practice Ownership

Ownership Is a Great Idea

As a practice owner, you choose the equipment to buy, the hours the clinic is open, the philosophy or style of practice, the mission and the core values.

Practice Ownership

Know When to Walk Away

Reputable consolidators want you to feel good about the offer. They will not balk when you need to confer.

Finance

How Much Profit Is Enough?

How you spend excess money is your decision, not your adviser’s, but make sure you set goals and have a path to attain them.

Finance

The Whole Picture

A cash stockpile can leave you with a false sense of security if you fail to scrutinize all the systems that keep your practice humming.

Finance

Who Ya Gonna Call?

Selling a practice isn’t a do-it-yourself endeavor.

Finance

How Uncertainty Affects Valuations

Buyers of veterinary hospitals prize the stability of earnings over time and the seller’s ability to successfully deliver goodwill.

Practice Management

Aspire to Hire

Adding another veterinarian to a busy practice frees up time for you and other doctors to get more done on and away from the job.

Finance

The Value of Waiting

Should you sell your veterinary practice while prices are high, or does a better option exist?

Finance

Should you buy a no-lo practice?

Don’t automatically rule out a profit-challenged hospital. The problems, from a less-involved owner to poor inventory controls, might be easily correctable.

Finance

What are you buying exactly?

If you’re considering veterinary practice ownership, learn the differences between an equity purchase and an asset purchase.

Finance

Financial Disclosures

Sharing details about your veterinary practice’s performance builds trust in your employees and can help make your business even more successful.

Practice Ownership

Manage your expectations

A variety of factors helps determine what your practice is worth and what a buyer is prepared to pay. The market today isn’t all about consolidators.

Finance

Be a number cruncher

Analyzing income-to-expense ratios will help unlock profits. A detailed chart of accounts and benchmark reports are good starting places.

Practice Ownership

Your Fair Share

How veterinary hospital owners are paid — and how much — depends on the responsibilities they hold and the budgets and policies that are in place.

Practice Ownership

A place to call your own

Starting a veterinary practice represents a major investment that will reshape your entire professional career and your personal life.

Finance

Think twice

Before you put more money into your practice, evaluate how quickly the investment will contribute to the bottom line.

Finance

When selling to an associate makes sense

When an associate veterinarian buys the practice, the seller usually has a greater ability to negotiate the most important benefits.

Finance

The real deal

Getting a good deal for your hospital involves more than just the sales price. The sales terms could have an impact on your personal finances and lifestyle for years afterward.

Practice Management

Make it your business

Some states prevent non-veterinarians from owning a clinic. The opposition arises from a legitimate concern over animal welfare.

Practice Ownership

Value judgments

For hospital owners who plan to work for five years or longer, the rewards for selling today may be less than the earnings generated by the practice in the years before a sale.

Finance

A Budget Can Help You Reach Your Goals

A tangible spending plan is your vision for the future and is important for the financial health and success of your practice.

Finance

KPIs Leave out the Whys

Key performance indicators for veterinary practices help monitor the success of your actions, but they don’t explain the reasons for change.

Finance

Using EBITDA Can Be Tricky

The popular financial metric is not the most accurate method for calculating profitability or a veterinary hospital’s value.

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