September 2018

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Phone (908) 823-4607- info@veterinarybusinessadvisors.com

Selling Your Practice?
How to Transition 
Your Team

 
Whether an owner is transitioning a practice to an associate, colleague or corporate entity, the process of onboarding  can be complex. This article  outlines the medical, financial and staff transition steps to follow, post-sale, along with the challenges each presents. Although mergers and acquisitions (M&As) typically begin with high hopes of success, not all do succeed. Most failures are attributed to operational, financial and/or customer relations problems. Click the link below to learn what steps practice owners can take to help their team transition.

Hiring an Associate?
It's a Buyer's Market
but those Offers Must Make Sense

Reprinted with Permission from Leslie Mamalis at Summit Veterinary Advisors
 
 
On August 8, 2018, there were 2,403 job postings for veterinarians on the Veterinary Career Network. Hiring an associate doctor is rarely easy, but currently the demand for associates far outweighs the supply. While experienced associates can command good salaries and benefits, we see new graduates negotiating generous compensation packages of their own. The shortage of veterinarians looking for new positions, the expansion of corporate veterinary practices and the availability of corporate level benefits serve to increase compensation packages offered to new hires. These packages often include higher starting salaries, signing bonuses, more paid time off, moving expenses, help with student loan repayment and come without requirements for on call or emergency coverage. This phenomenon is not occurring only in the major metropolitan areas; it is happening throughout the country.

Succession Plan

Succession Plan


In This Issue
Effective Change Management Strategies 

Originally Published in 
Today's Veterinary Business
August 2018


Although plenty of businesses talk about change, and although many of them devote significant time to change management, too many efforts are still failing. An article in HR Magazine titled "Why Change Efforts Fail" analyzes why this is happening and offers suggestions to help make your next change management strategies take root.

Read more about the article and learn some tips to help prevent change initiatives from failing by clicking the link to below.

  

There's never been a better way to get the full story on your patients. BabelVet is the most comprehensive health dashboard you can use, because it links with the BabelBark app for pet parents right on their phones.

BabelVet is helping veterinarians stand up for their power of CHOICE, allowing access to innovation and differentiation to ensure independent practices are on the same playing field as large corporate groups.
 
Technology is the great equalizer in our future, ensuring clients can interact with their chosen veterinarian in the way they want... with their smartphone and connected to local pet services.  
 
To learn more about how BabelVet connects you to patients so you can deliver even better care, click below.


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