Need financing? A community bank can help
Applying for an SBA loan might seem a laborious process, but the right lender can cut through the red tape and sometimes offer more flexible rates and terms.
2020 has been a challenging year for business owners on nearly every front. Whether your veterinary clinic was forced to close for a time or your clients brought their pets in less often, you had to get creative to maintain success. If you were looking to make changes to your clinic, you might have noticed […]
What one practice learned during COVID
Paperless transactions, curbside service and telemedicine lead to a safer environment for clients and hospital team members.
COVID-19 brought hard challenges to all of us in 2020. But as we plan for 2021 and beyond, it’s time to evaluate the adaptations that practices like mine made during 2020 that should carry on in the years ahead to ensure everyone’s success. When the pandemic hit the United States, we all scrambled. Park West […]
When client invoices go unpaid
A proactive approach that starts before a pet arrives can help veterinary practices reduce collection-related issues.
For many veterinarians, creating and maintaining a healthy revenue cycle can be a major challenge. Balancing day-to-day operations, providing excellent care, and managing billing and payments can be a constant struggle. But it doesn’t have to be. Capturing more revenue and setting your office up to handle the collection process all depends on the systems […]
5 ways to succeed in the pandemic era
The veterinary business model has changed quickly and for good reason. Technology is helping us to interact with clients and protect our teams.
Although life in the time of COVID-19 is unprecedented, daunting and constantly changing, veterinary medical professionals are among the most adaptable, solution-oriented and innovative people I know. Pandemic life, with all its challenges, is another hurdle we’re jumping together. Here are five challenges that every veterinary hospital is facing during the pandemic and some ideas […]
How to avoid a COVID legal infection
Practice owners need to be careful to avoid claims over discrimination, paid leave, medical testing and harassment.
As businesses reopen across the United States amid the COVID-19 pandemic, veterinary practice owners are confronted with myriad decisions that can impact profits. Minimizing the risk from potential employee lawsuits should not be a primary consideration, but it does need to be an important part of the reopening calculus. Returning to Work If your clinic […]
Prepare for post-pandemic success
Now is a great time to convey your practice’s brand and values through your communication, education and advertising.
If you’re wondering how your veterinary office should move forward during COVID-19 and after the pandemic, you can rest assured that you’re not alone. No practice owner saw this coming, and no one is quite sure when life might return to normal. But as the dust has settled, the best bets and smartest strategies have […]
Zoetis launches Pumpkin pet insurance
Policyholders who choose preventive care coverage will receive a Zoetis parasiticide directly from the company.
The $1.5 billion-a-year U.S. pet health insurance market has a new player: Zoetis Inc., the world’s largest manufacturer of animal drugs and vaccines. Zoetis’ insurance subsidiary, Pumpkin, is competing against more than a dozen providers, from industry leader Nationwide to upstarts Spot and Prudent Pet. One feature that sets Pumpkin apart is Preventive Essentials, a […]
Advocacy group sees a bright future for remote care
The Veterinary Virtual Care Association wants to take telemedicine to the next level — and beyond.
The Veterinary Virtual Care Association wants to do for veterinary medicine what the 27-year-old American Telemedicine Association has accomplished in human medicine. That is, as the ATA says, “change the way the world thinks about health care.” The newly established veterinary organization aims to make virtual care — a term encompassing telemedicine, teletriage and everything […]
How COVID-19 affects your student loans
Conserving cash is a smart move during these trying times even as the government steps in with relief for borrowers.
The coronavirus pandemic is forcing a lot of people to rethink their monthly budget. As more Americans deal with or anticipate unemployment or reduced income, many face hard decisions. The uncertainty is prompting folks to take a close look at their spending. This is a great time to distinguish between wants and needs. You want […]
The banker’s role in a practice acquisition
You can’t afford to skip any critical steps when buying a veterinary practice.
As the coronavirus pandemic grinds the U.S. economy to a halt, putting downward pressure on demand for pet health care services, acquisitive veterinarians should wait for conditions to stabilize. When the pandemic lifts, however, many smart acquisition opportunities will be available. Acquiring a practice is a complex and potentially competitive process — acquirers range from […]