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year

Grading on a Curve

Departure Notes

Whatever you do, just don’t compare 2020 to other years.

If 2020 was a patient, I suspect most of us would have elected humane euthanasia sometime around May. That would have been after the wildfires in Australia, the U.S. drone strike on an Iranian general, the impeachment and acquittal of Donald Trump, the death of Kobe Bryant, the U.K.’s departure from the European Union, a […]

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 […]

colorblindness

Colorblindness Is Not a Cure

Diversity Toolbox

Not seeing or acknowledging race serves as an exit ramp from discussing or participating in advancing social change.

I  remember years ago in grade school when kids stood in front of classmates, especially on movie day, and blocked their view. A common retort was, “You know your parents aren’t glassmakers, right?” It was a smart-aleck way of communicating, “You are blocking my view!” Years later, I have repurposed the adolescent retort when anyone […]

behavioral finance

Manage Your Emotions

Financial Wellness

Understand why you make irrational choices with your investments and what you can do about it.

Standard financial and investment theory holds that markets and investors are completely rational. The assumption is that investors exercise self-control and adhere to a defined investment discipline when making financial decisions. Therefore, those decisions are free of human emotion at all times. Yeah, right! Behavior and Investing The influence of human emotions on financial decision-making, […]

Halloween party product

Don’t be afraid to sell a product

Selling Points

You’re not a peddler. You’re a veterinary professional looking out for your patients’ best interests.

Halloween is right around the corner. My 8-year-old daughter, Ashelyn, and her friends are contemplating what they will wear for trick-or-treating. It’s a rite of passage for children. Heck, even adults find time to dress up every now and then for a Halloween party, with couples often choosing complementary costumes. Imagine the possibilities if a […]

emergency hospital

My dog broke his leg

Practice Smarter

Sure, veterinary practices are super busy, but curtly turning away emergency cases or making pet owners endure long, silent waits won’t endear clients to your hospital. Video or audio visits, anyone?

My 18-month-old, love-of-my-life Great Dane rescue dog broke his leg. Ben was playing in the backyard and caught his right front leg in something, causing a greenstick fracture of his distal radius. This happened in the early afternoon, so I called the veterinary practice where we have been a client for over a year. Now, […]

candidates

Seeing is believing

VetPartners Corner

Words on a computer screen or smartphone carry only so much weight. Making a video pitch to job candidates can elevate your practice’s recruiting efforts.

When asked what they’re looking for in a career, veterinary graduates say what you’d expect. Themes like work-life balance, team culture and high standards of care are common responses, according to gradstalk.com. But if you listen more intently, you’ll hear a less-familiar theme. Many candidates want to work in an environment where core values are […]

payment options

Advice that pays for itself

Talk the Talk

Cash-strapped clients want to provide appropriate veterinary care for their pets, and many of them are open to frank discussions about money. Be ready to propose a few financial options.

Looking at recent economic and unemployment reports, I’m concerned we might see more cash-strapped pet owners in the coming months. Clients might not have the money to pay for their pets’ sick care. Some might not be able to afford routine preventive veterinary services, which means they might not respond to appointment reminders. Here’s how […]

lease

The first-time practice owner

Legal Lingo

Opening a veterinary clinic is a fabulous opportunity, but planning for it is best done one step at a time.

Starting a veterinary practice is an exciting endeavor for any clinician, but trials and tribulations are a normal part of the process. I’ve found that the following seven steps will help establish the foundation for a successful start-up. 1. Develop an Airtight Business Plan Creating a business plan — the framework for opening a practice […]

sell veterinary practice

Sell now or later?

Financial Wellness

What likely will be the biggest financial decision of your life shouldn’t be made in haste. You can sell your practice quickly to a consolidator, hand off to an associate in 10 years or do something in between. Weigh your options and the pros and cons.

We work with successful veterinary practice owners who are contemplating the sale of their hospital. In many cases, they are considering a sale because of the significant growth in corporate consolidators who pay multiples as high as twice the historic valuations. A general feeling exists that the bubble will inevitably burst and that practice values […]

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