Finance

5 ways to better manage labor

Having detailed job descriptions for each employee — DVMs, nurses, groomers, kennel workers and front-desk employees — is important.

Finance

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.

Finance

Think twice

Before you put more money into your practice, evaluate how quickly the investment will contribute to the bottom line.

Finance

A Balancing Act

You need to strike a balance between having enough cash to pay your bills each month and meet unexpected expenses, but not having so much cash that you are not utilizing your assets effectively.

Finance

An inside job

Many embezzlements occur because a practice has not implemented appropriate internal controls.

Finance

Discounts? No!

If you discount your services to senior citizens, military members or firefighters, just stop. Instead, grandfather these clients by continuing their discount, but do not offer one to new clients.

Finance

When selling to an associate makes sense

When an associate veterinarian buys the practice, the seller usually has a greater ability to negotiate the most important benefits.

Finance

Make effective use of your team

Veterinarians generate active income. The all-important passive income starts with the staff members.

Finance

Cash or credit?

If this is your first foray into lending, look beyond the interest rate offered and take a close look at the services and support each lender offers.

Finance

The real deal

Getting a good deal for your hospital involves more than just the sales price. The sales terms could have an impact on your personal finances and lifestyle for years afterward.

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