NOT EVERY QUESTION IS A LEGAL QUESTION. THAT IS WHY WE HAVE EXPANDED OUR SERVICES TO INCLUDE CONSULTING
I have always been interested in the convergence of law and business long before becoming an attorney and veterinary practice owner. Prior to attending law school I obtained an Master's in Business Administration (MBA). During my graduate business education I was the graduate assistant to university's Executive Leadership and Organizational Change Program. It was there I learned about emotional intelligence, working with teams, leadership, financial management, and implementing organizational change. Unbeknownst to me at the time I would put those tools to use 10 years later leading an elite team within my own veterinary practice.
Our services are geared towards Practice Managers. Whether it is an add-on to a retainer plan, access to the resources in our members' area, or utilizing the products and services in our store--we are hear to help. Below are just a few of our consulting service for practice management.
Leadership and Growth
When you look at your practice does it meet the expectations and design set forth in the practice mission? Is it the type of practice you envisioned? Owners often find themselves swamped with the day-to-day operations and lose site of operational efficiencies, goal management, and growth. While even a poorly ran hospital can show a profit recent data tells us the number of veterinarians entering the job market since 1991 has increased 78% while the growth in the market has been 26%. The increased flux of veterinarians means that healthy practices will have value, but the poorly ran practices will see not only increased competition, but a lack of interest from potential buyers willing to open a new practice down the street. If you don't believe me, look at my own practice which opened its doors 0.2 miles down the road from an established 30-year old practice. Not saying that practice was poorly managed by any means, but it did not provide incentive for an investment by a young veterinarian.
Being both a doctor and a business leader can be challenging. That is why most doctors and practice managers rely on outside resources to strengthen its practice vision. We regularly provide videos, webinars, and consulting services on leadership and management to help orient practices towards a common goal--usually a succession plan.
Implementing Organizational Change & Human Resources
The weakest link in any veterinary practice will be its human resources and its ability to organize and implement positive changes utilizing those resources. A practice that does not place value on its team will quickly find its products and services are fungible and therefore interchangeable with the growing competition. Value in a veterinary practice is created through dynamic relationships. The stronger the relationship with clients and patients both actual and perceived value is created. Actual value is created in the health and wellness of the patients and perceived value, namely trust, is created with the client. This type of value is the basis of goodwill that increases the growth and eventually the purchase price of a hospital.
Our firm can help you find, train, and retain quality human resources. Our store contains several human resource forms to help identify ideal candidates and training information. Also, if you are a member, please look at the Human Resource educational videos.
Understanding the financial impact of decision-making is a key ingredient to success. We can help show you how to create financial models to better understand your practice, set budgets, control expenditures, retirement planning for you and your employees, negotiate better prices, and set appropriate prices for goods and services. Remember, raising prices is not a growth strategy!