Chapter 15: Tales from the COVID-19 front lines
“In the face of the current normal, being busy isn’t all it’s cracked up to be. The busyness is not necessarily good for business.”
This week: Dr. Peter Weinstein on the best and worst of times, Dr. Wendy Hauser on communicating lifetime cost of care, Wendy S. Myers on credit card fees, and much more. Read the first 14 installments in this series: Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 Chapter 6 Chapter 7 Chapter 8 Chapter […]
Flow in uncertain times
Go With the Flow
Rather than being overwhelmed by a unique and daunting situation, practices and their owners seemed to tap into their inner reserves and resources and then meet the challenges with agility.
The last few months have been unique in their level of disruption of behavior patterns, norms and lives across the globe. It’s easy to occasionally become overwhelmed by both the magnitude and rapidity of the events that unfolded and continue to unfold. So, discussing “flow” in the context of recent national and global events might […]
What are you waiting for?
Demand for virtual care is soaring. The ever-expanding field of teleconsulting and telemedicine has options galore for any size practice. You just need to investigate and choose a partner.
Is your veterinary practice one of the estimated 32% that use some form of virtual care? If you joined the crowd due to the COVID-19 pandemic, you’re not alone — telehealth platform use skyrocketed once social distancing arrived and clinics scrambled to take care of pets while keeping their owners six feet away. But maybe, […]
A view from the curb
How do clients and team members really feel about drive-up appointments? Pet owners miss the face-to-face contact, while the veterinary staff reports some pros and cons.
I admit it: I got a pandemic dog. After my soul dog, Jack, passed away in February, I knew I’d eventually want another dog. I started looking at various animal rescues but couldn’t find “the one.” That changed over Memorial Day weekend. The Thursday before, I was attending a virtual happy hour with colleagues when […]
Never stop learning
Whether in person or online, the educating of veterinary teams by sales reps needs to remain a priority, even in a COVID world.
The business world as we know it was upended by COVID-19. It’s no longer business as usual. Practice owners, medical directors, administrators, managers and other clinic leaders have had to reinvent how we provide medical services and sell products. The idea of holding a lunch and learn is the farthest thing from our minds. What […]
An unforgettable freshman year
It was 34 years ago that I received my DVM from the University of Illinois. As I look back to the end of my freshman year, my biggest panics were dealing with really challenging faculty members in virology and immunology and getting past the large animal anatomy final. Disruptions were limited to snow, rain, heat, […]
Selling your practice in a COVID market
Making and closing a deal between a hospital owner and a buyer isn’t as easy as it once was. Skittish lenders, contract contingencies and even uncommitted clinical staff can gum up the process.
So, you’ve decided to sell your veterinary practice after a lifetime of hard work, but the COVID-19 pandemic has fundamentally impacted the process. From new contractual provisions and buyer financing delays to due diligence issues, you’ve encountered numerous roadblocks. However, with better planning and the right team in place, a sale can be successfully achieved. […]
How to survive the recession
Cash is king whether it’s coming or going. You should explore all the ways to persevere and succeed during tough times, from negotiating with vendors and lenders to training and trusting your team.
We don’t claim to be economists and can’t begin to fully explain what causes a recession, but we’ve been impacted personally and professionally by a number of them and emerged reasonably unscathed each time. Historically, veterinary medicine has been recession-proof, one of the reasons it’s such an attractive space for investors. However, during the 2007-2009 […]
The worst and best of times
Practices that conserve cash, champion job security and nurture clients will be ready to capitalize on an economic resurgence. When leadership takes care of the team, the team takes care of the business.
It became official June 8: The United States began its pandemic-fueled recession in February 2020 after experiencing the longest economic expansion in the nation’s history. The announcement was a bit difficult to reconcile because many veterinary practices are experiencing abnormally busy summers. However, as unemployment safety nets dissolve and consumer confidence erodes, hospital managers need […]
Veterinary clinics report double-digit growth in June
Revenue and new-client numbers rose sharply compared with 12 months earlier, a VHMA survey shows.
Companion animal practices fared well in June despite the pandemic and economic recession, according to the Veterinary Hospital Managers Association. A survey of 644 member practices revealed average revenue growth of 14.6% in June compared with the same month in 2019. The number of new clients jumped by 14%. June 2020 had one additional workday […]