Employers pay the price if they don’t follow the rules on who is and isn’t an independent contractor.
Are they employees of yours or 1099 independent contractors? On Jan. 6, 2021, the U.S. Department of Labor clarified the guidelines for classifying workers as independent contractors under the Fair Labor Standards Act, which among other things establishes minimum wage and overtime pay for private-sector employees. The final rule, which went into effect March 8, […]
Doing on-site pet cremations can give a veterinary practice an advantage over its competitors and even generate revenue from them.
Have you ever considered turning your veterinary clinic into a referral practice? We’re not talking about taking on supercomplicated medical cases but rather providing after-care services. For around $100,000, give or take, you could install an on-site crematory and start a new revenue stream, compassionately assisting not only your grieving clients but also pet owners […]
9 Tips to Sink Your Teeth Into
How you communicate with clients and what you do behind the scenes can help grow your practice’s dental revenue.
Paul Camilo didn’t plan on working in the veterinary industry for long when he became a kennel assistant at Hometown Animal Hospital and All Pets Dental. But within two weeks of starting his Weston, Florida, job, he saw a Rottweiler get a set of braces, and that made him do a double take. Working under […]
Less Is More
Fine-tune how your hospital is run so that you don’t have to work so hard.
A great catchphrase is: “Practice smarter, not harder.” But what does it mean exactly? Here’s what veterinarians and practices can do to bring the concept to life. Leverage Your Team Leveraging has to do with the number of full-time support staff you have compared with the number of full-time doctors. The “normal” practice has a […]
Know When to Walk Away
If you’re an independent practice owner, don’t rush into a sale to a consolidator. Here’s what to watch for.
Remember when veterinary practice buyers were scarce and hospital owners were concerned about finding one — or they expected the pool of buyers to be small? Then along came the consolidators, who used outside money to cherry-pick the best of the best practices. Today, as the inventory shrinks, the competition to buy practices has intensified. […]
Fair and Square
Veterinarians should have a basic understanding of the rules of competition. You don’t want to run afoul of antitrust laws.
Federal antitrust laws are discussed when transactions between corporate titans are in the news, such as the merger of T-Mobile and Sprint. Such laws, however, are the foundation of modern American capitalism and a subject that veterinary businesses need to understand, at least in principle. In a truly free market — one with no regulations […]
The Cat’s Meow
Expand your feline patient base by altering how you accommodate patients and communicate with their owners. CFP certification is a plus.
When I was 13, I found a litter of abandoned kittens in my 93-year-old neighbor’s backyard. All the kittens were dead except for one. I persuaded my parents to let me rescue the survivor and, being a teenage girl, I named her Melissa. Weird name for a cat, I know. Melissa lived for 18 years. […]
Shortages and Excesses
Politics and Policy
We have too few veterinary professionals (and dogs) and too much student debt. There is a way out.
COVID carried on a curious relationship with the veterinary industry throughout 2020 and early 2021. Much has been written about the industry’s financial strength and gains during this period, hopefully putting to rest chronic fears that pet health care is a fragile sector and susceptible to sudden downturns. The toll on human lives is a […]
Say No to No-Shows
When levying deposits or penalties (most practices don’t), communication is key.
It’s hard to believe we were so optimistic (naïve?) to think that the pandemic would be over in just a few weeks or months. Instead, COVID-19 has dragged on and on and presented ever-increasing challenges to veterinary practices. Animal hospitals are lucky to be as busy as they are. That busyness has, of course, brought […]
It’s All Coming Into Focus
We know (or think we know) where veterinary medicine is headed over the next decade. Let’s prepare for and enjoy the ride.
I have been around long enough to be wary about futurists, the people who all too often predict a future that looks pretty much like today, only more so. None of these futurists seem to be able to see around corners or alert us to unanticipated dangers. Too bad the futurists of 1750 didn’t understand […]