For those of you unfamiliar with vet practice financials, you may be forgiven for thinking that if you’ve seen one, you’ve seen them all. That they all follow a similar structure or template, and that the practice’s income and expenses will always be labelled somewhat consistently from practice to practice. The truth of it is […]
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When veterinarians decide to get into practice ownership, they spend many hours analysing possible practices to buy or sites to start up in. They fill spreadsheets with costings and projections, competition analysis, ideas and business plans before they act. When they are in practice, they spend countless hours agonising over how they are going to […]
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There is an urban legend that if a frog is suddenly put into a pot of boiling water, it will jump out and save itself from impending death. But, if the frog is put into lukewarm water, with the temperature rising slowly, the frog will keep trying to adjust and acclimatise … until it’s too […]
Continue ReadingTom Donnelly writes on developments in the US veterinary industry. While big businesses such as Banfield Pet Hospital and VCA (Veterinary Centers of America) — the two largest owners of veterinary hospitals in the world, both owned by Mars. Inc. — grow, a group of practitioners who value their autonomy have formed an organisation dedicated […]
Continue ReadingOnce you have worked in veterinary practice for long enough you will have seen your fair share of preventable errors. As a practice owner there is nothing more frustrating than dealing with mistakes despite feeling that you have plenty of good systems in place and have given your staff ample training. Most practices have experienced […]
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