How uncertainty affects valuations
Buyers of veterinary hospitals prize the stability of earnings over time and the seller’s ability to successfully deliver goodwill.
What is the impact on a practice’s valuation during a crisis like COVID-19 when hospitals change how they manage clients and patients and when the usual daily grind is anything but usual? Honestly, not much — at least not yet. The two primary influencers of business value are cash flow and risk, both of which […]
The future of veterinary practice
Forced to pivot because of COVID-19, the profession learned more lessons about telemedicine. The pandemic exposed clinics and clients to pet-only visits and could lead to the rebranding of relief work.
It’s anything but business as usual in the veterinary profession. Over the past couple of months and likely for the next several months, practices have adapted to a world that looks very different. While each day brought surprises and challenges, there is a sense that practices have implemented protocols, adjusted hours and staffing, and begun […]
Could loan relief be coming for veterinarians?
Lobbying is underway to include DVMs in the still-pending Student Loan Forgiveness for Frontline Health Workers Act.
The Association of American Veterinary Medical Colleges is raising the possibility of veterinarians being included in legislation that would wipe out some or all of their federal student loans. A bill introduced May 5 by New York Democratic Congresswoman Carolyn Maloney would forgive the eligible loan debt of health care workers “on the front line […]
Chapter 10: Tales from the COVID-19 front lines
“Now is the time to make lemonade out of the lemons we’ve been handed.”
This week: Curbside care is still the norm as veterinary practices think about a post-COVID world and the future of telemedicine. Read other installments in this series: Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 Chapter 6 Chapter 7 Chapter 8 Chapter 9 Chapter 11 Chapter 12 Chapter 13 Chapter 14 Chapter 15 […]
With little warning, the COVID-19 pandemic pummeled the veterinary industry and transformed patient care, client relations and staffing. Will we ever return to the “old normal,” or is more upheaval still to come?
Over the past few months — it feels like decades — the world of veterinary practice has been totally disrupted from the medical and business perspectives. Before February, many practicing veterinarians were convinced that corporate consolidators, online merchants, millennials or some other outside influence would be the source of the profession’s greatest upheaval ever seen. […]
Telemedicine and you
Veterinarians can partner with a platform provider or manage the service on their own. Fear not, newbies. If you’ve ever consulted with clients by phone, you’re well on your way.
At the start of 2020, assessing a pet’s hot spot or lameness over a video chat would have seemed absurd to most practitioners. That changed in a heartbeat when COVID-19 swept the globe, sending millions into quarantine and upending everything we thought we knew about the standard of care. Overnight, veterinarians’ views on telemedicine changed […]
Chapter 9: Tales from the COVID-19 front lines
“Cash-strapped, underemployed and unemployed pet owners will desperately seek deals and discounts if unemployment persists more than another few weeks.”
This week: The veterinary industry is in a state of flux as some stay-at-home restrictions are eased, pets are adopted in record numbers, and team members return to work or choose not to. The next few weeks could answer a lot of questions. Read other installments in this series: Chapter 1 Chapter 2 Chapter 3 […]
2 Fetch shows canceled due to COVID-19
Conferences in Baltimore and Kansas City won’t take place, but K.C. Animal Health Corridor events remain on the calendar for now.
The COVID-19 pandemic has forced the cancellation of more veterinary industry meetings. MJH Life Sciences pulled the plug on Fetch conferences scheduled for mid-July in Baltimore and late August in Kansas City, Missouri. The Baltimore event originally was set for early April but was postponed weeks earlier. “We had been working over the past month […]
Graduating veterinary technicians can celebrate online
The Class of 2020 will be honored May 24 during a virtual commencement ceremony.
Dr. Andy Roark sure knows how to draw a crowd. The popular speaker and media personality brought together nearly 2,000 people May 3 for the College of Veterinary Medicine Virtual Graduation, a bittersweet alternative to university commencements called off because of COVID-19. Now, the South Carolina veterinarian will host a free online graduation ceremony Sunday, […]
May business starts well after April nosedive
Tracking companies iVET360 and VetSuccess report an uptick in year-over-year revenue, although transactions remain down.
Two companies that monitor the financial performance of U.S. veterinary hospitals are seeing signs of improvement as the COVID-19 pandemic continues to play out. iVET360 found that revenue on Wednesday, May 6 at 786 veterinary clinics was 7.2% higher than on the same weekday one year earlier. While the number of transactions was down 2%, […]