April 2019/May 2019 – Today’s Veterinary Business Magazine
Analyzing income-to expense rations will help unlock profits. A detailed chart of accounts and benchmark reports are good starting places. When practice owners and managers want to increase profitability, one of the first things they do is analyze expenses to identify areas where more is being spent than expected. From there, the challenge is to find ways to increase revenue or reduce expenses, or both, without sacrificing quality of service.
February 2019/March 2019 – Today’s Veterinary Business Magazine
Veterinary practice owners often see their hospital as more than an investment. For many, it is a passion, a calling or a life choice. Few private buyers acquire a hospital with a primary goal of making as much money as possible. The money is important, of course, but creating a legacy is sometimes of equal or higher importance.
December 2018/January 2019 – Today’s Veterinary Business Magazine
Becoming an independent practice owner carries many risks, but the rewards can be hefty if you have a knack for business and are willing to sacrifice sizable paychecks for a while.
October/November 2018 – Today’s Veterinary Business Magazine
Investing in your hospital shortly before a sale makes sense only in certain situations. Needless spending can depress the practice valuation.
August/September 2018 – Today’s Veterinary Business Magazine
Consolidators possess deep pockets, but practice owners might welcome a partner’s offer when the property itself, creative financing and even one’s legacy are taken into account.
June/July 2018 – Today’s Veterinary Business Magazine
Owning an attractive veterinary practice that will command a high sales price carries certain bragging rights. While no one would argue that the sales price isn’t important, it is only one factor in a complex deal.
April/May 2018 – Today’s Veterinary Business Magazine
Practice ownership opportunities aren’t just for veterinarians. In some cases, managers and nurses can become proprietors, too.
February/March 2018 – Today’s Veterinary Business Magazine
For hospital owners who plan to work for five years or longer, the rewards for selling today may be less than the earnings generated by the practice in the years before a sale.
December/January 2017 – Today’s Veterinary Business Magazine
A tangible spending plan is your vision for the future and is important for the financial health and success of your practice.
October/November 2017 – Today’s Veterinary Business Magazine
Key performance indicator help monitor the success of your actions, but they don’t explain the reasons for change.