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Business

incentive program

Learn to Share

Practice Smarter

Veterinary teams deserve more than a paycheck. Employees need to know the financials, be thanked, and hear what they can do to improve the practice’s performance and their own.

Going into the pandemic, I expected that veterinary hospitals would be financially devastated. Clients would not bring in their pets, practices would close and employees would be let go. Well, I could not have been more wrong. Veterinary practices are doing very well financially. In fact, many are seeing increases in income like never before. […]

auto insurance coverage

Steer Clear of Trouble

Protect and Defend

Practice owners need adequate insurance coverage when transporting pets and when employees are on the road.

Insurance coverage and risk management remain a hot topic during the pandemic. This is the second in a two-article series highlighting the most frequently asked COVID-related questions I have received from my insurance clients. Q. What are the liability risks if my hospital offers a pet taxi service? A. You must consider two major exposures. […]

Six Growing Issues

The veterinary world is getting more complicated. It’s time to embrace change for the good of the profession, clients and patients.

If you’ve been around long enough, you’ll remember these two reports: Pew Research Center’s “Future Directions for Veterinary Medicine” (1989) and KPMG’s “The Current and Future Market for Veterinarians and Veterinary Medical Services in the U.S.” (1999). Both reports helped explain what was going on in the veterinary profession then and, more importantly, what the […]

consolidators

Mercenaries and Missionaries

Creative Disruption

Consolidators who push profits first leave veterinary teams feeling neglected, leading to less-than-optimal pet care and reduced profits.

Consolidation, a normal part of the economy, has come to our profession. Consolidation tends to occur in any successful, fragmented, profitable, healthy industry that will benefit from investment and continued growth. Recent human health care examples include growth investments in urgent care, hospice and medical devices. I’ve had the good fortune to work in both […]

telemedicine

What’s Next for Telemedicine?

Politics and Policy

The evidence shows there’s no reason for anyone to fret about veterinary virtual care. It’s safe, effective, in demand and here to stay.

When we look back on 2020, the year of COVID, three other things will jump out: With some exceptions, 2020 was a year of extraordinary growth for veterinary practices and the animal health industry. Who would have predicted that in early March, when an anxious America wondered about economic survival as the pandemic took hold? […]

telemedicine

See for Yourself

Telemedicine can enhance what practitioners do in otitis cases and cement client loyalty like nothing else.

Conventional wisdom says veterinary dermatology is more telemedicine-friendly than, say, internal medicine because the patient’s problem is on the outside rather than the inside. This means lesions, redness, pustules and the like can be visualized in photos, videos or a live camera feed and shared with a practitioner. However, with otitis, the problems can reach […]

robot

The Automation Evolution

Innovation Station

Robot team members? Expanded use of artificial intelligence in veterinary education and diagnostics? Get ready.

Imagine a pet owner enters a veterinarian’s office and is greeted by a 5-foot-tall robot that provides limited but flawless reception services. Given audible instructions, the client and his pet enter a designated exam room. There, a human veterinary nurse performs hands-on procedures like a dental exam and blood draw. She then activates another robot […]

profit

How Much Profit Is Enough?

Money Matters

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.

Not that long ago, many veterinarians considered profit an unworthy goal. After all, they had a higher purpose: a calling to care for animals and prevent and alleviate their suffering. Profit was not a priority. As long as there was enough money to keep the lights on, things were fine. Keeping the lights on, however, […]

arbitration

The Last Word

Legal Lingo

What you need to know about arbitration clauses in employment contracts.

Many practice owners require associate veterinarians to sign employment agreements that include arbitration provisions. One reason is that arbitration is generally touted as a good way for an employer to avoid the financial risk associated with taking litigation to a jury trial. That said, arbitration is not always cheaper than a court proceeding and not […]

GPO

Crowd Pleasers

Group purchasing organizations provide independent practice owners with discounts on products and services, along with other benefits. 

Viviana Burgos, the practice manager and co-owner of Eagle Fern Equine Hospital in Estacada, Oregon, knows that running a large clinic is expensive, but she instantly cut some bills when she joined The Veterinary Club about a decade ago. “I had just purchased the practice and was trying to save every penny I could, but […]

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