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financial planning

What smart veterinarians do financially

Retirement accounts and budgets can put you in a more comfortable fiscal position. Those aren’t your only choices.

After working with many veterinarians, I have distilled some common denominators when it comes to successful practitioners. These are not all-encompassing behaviors, but they seem to be the smartest personal finance actions that a successful veterinarian can undertake. 1. Take full advantage of the unique retirement accounts available to them. For higher-income practice owners who […]

smart money

9 ways to improve your personal finances

Adjusting where you put your money and how you spend it can make a big difference for veterinarians.

Veterinarians are inherently busy, so enacting some relatively easy and quick changes to better themselves financially is a prudent move. Here are nine ways to do just that. 1. Lower your investment fees. Why are you invested in funds that charge exorbitant fees or commissions? Not many funds, if any, outperform the market over the […]

warehouse

Pet owners demand supply-chain transparency

How products are handled and delivered is a growing priority for today's customers. Some premium brands have altered their distribution practices to develop closer ties to consumers.

Increasingly engaged, empowered and values-driven, consumers are prompting changes in the route veterinary products take from manufacturers to pet owners. The result is a shift to human-grade standards for handling and distributing veterinary nutritional supplements and foods. This development has significant implications for manufacturers, trading partners and consumers. As brands develop deeper connections with pet […]

corporate culture

The culture conundrum

Building an outstanding organization starts with devoted, empowered leaders who encourage employee camaraderie, team building and plain old fun.

Salaries and benefits are no longer the raison d’être for attracting and retaining the best clinical and support staff. They are looking for more. More what, exactly, is the question? Work/life balance to be sure. What else? Relief from the burden of student debt would be high on the list; that shadow is an ever-present […]

financial adviser

Get personal about your finances

You should have short- and long-term goals and know how to achieve them.

Whether new to the profession or near retirement, veterinarians need a financial game plan. Consider these five questions. 1. What is the point of my savings? Being financially disciplined and saving money is great. Having a goal or multiple goals for your savings is even better. If you are fortunate enough to be able to […]

Create the ultimate clinic experience

First impressions matter, so think about what clients smell, touch and see when they arrive at your hospital.

Pet spending in America has reached over $69 billion a year. With that kind of price tag, luxury is a must within a veterinary office. Clients often expect warming pads, soft music, dim lights and separate waiting areas to help alleviate the anxiety that comes with a visit. But even though pets are the primary […]

Book ahead

Why forward-booking is the best strategy for veterinary practices.

Dentists have established the gold standard in forward-booking patients. When I visited Tom Kampfe, DDS, in Centennial, Colorado, my hygienist Yvonne pulled up the appointment schedule while I was still in the dental chair. She said, “Let’s schedule your next visit now, which will be the week of Jan. 23. I see that you usually […]

Help your clients by vetting pet insurance

Educate yourself about the different providers and their policies, and then share your recommendations with pet owners.

Running your veterinary practice can be difficult. Perhaps you have well-meaning clients who can’t pay for your services or who can’t afford expensive procedures. Other clients might ask for discounts. Not being able to help your clients or their pets can be emotionally and mentally draining for both parties. When you face these challenges in […]

What you need to know about 2018 taxes

Business owners would be wise to read up on the federal Tax Cuts and Jobs Act or ask their tax professional for guidance.

Almost a year ago, in December 2017, the Tax Cuts and Jobs Act (TCJA) was signed into law, introducing the most significant tax changes in 30 years. As 2018 draws to a close, now is a good time to plan and implement strategies that can boost your bottom line, improve the financial success of your […]

On high alert

As vector-borne diseases crisscross the country, animal and human health organizations are working hard to raise awareness.

An invasion is happening in the United States. Creepy crawlies carrying all sorts of vector-borne diseases are on the march or airborne. And neither pets nor people are safe. Illnesses from mosquito, tick and flea bites have tripled in the United States, with more than 640,000 cases reported from 2004 through 2016, according to a […]

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