Five ways a loan can improve your practice amid COVID-19September 1, 2020 As the coronavirus pandemic continues to impact the nation, veterinary practice owners have been challenged to change existing procedures or find completely new ways of providing animal care while ensuring the safety of their staff and pet owners. Even with these additional burdens, veterinarians remain focused on keeping their practices going. Despite the uncertainty veterinary professionals face, there are also new opportunities to make meaningful improvements to their practices. Whether you seek to make an immediate impact on your day-to-day operations or pave the path for long-term success, a business loan can help you achieve your goals. 1) Understand the value of cash flow It's true: Cash is king. When cash is tight, it can be distracting, but having working capital can empower you to stay focused on providing excellent care and ensuring business success. A cash flow injection can help you cover immediate operational and overhead costs including rent or mortgage, insurance, utilities, and payroll. Cash can be set aside into an emergency fund to cover any unexpected costs that may arise. And having extra cash on hand can help you get through any delays in client payments. 2) Consolidate debt It might seem counterintuitive to get a …
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Choosing the right PIMS for your practiceFebruary 5, 2019Love 'em or hate 'em, all veterinary practices need one: a practice information management system (PIMS). There are so many factors to consider when researching which PIMS is the best fit for your clinic. They include practice efficiency, integrations, data security and backup, and impact to the client experience. No doubt, change can be complicated, especially when transitioning to a new PIMS. It can often feel a bit overwhelming for veterinary teams that are already stretched thin. However, choosing a PIMS that works for your practice is possible, resulting in overall improvements to practice workflow, productivity, and even team satisfaction. Understand your workflow needs—now and in the future A good PIMS should provide the foundation and infrastructure for a smooth workflow today and five years from now, but you must know what you're looking for at the outset to ensure a successful outcome. Remember, you can't buy software to improve your internal processes if you do not first understand them, as well as your pain points. For example, if your practice is looking to go paperless, consider how a system manages client and patient information, how it monitors inpatient care, and how its mobile functionality works. Not ready for paperless? …
Meet KC Animal Health Corridor Investment Forum 2018's 12 competitorsAugust 27, 2018Twelve emerging animal health companies from three countries vied last week for investment opportunities in a "Shark Tank" format with more than 200 animal health companies and 40 financial funds at the 10th annual KC Animal Health Investment Forum. "The Global Animal Health Investment Forum is the premier stage for emerging companies to showcase innovations and technologies that have the potential to revolutionize the animal health industry," said Kimberly Young, president of the Kansas City Animal Health Corridor. Each company is given 10 minutes to present their ideas in front of seven judges, including executives from Nestlé Purina PetCare, Bayer Animal Health, Ceva U.S. Holdings, and Petsmart, followed by a five-minute Q&A session. Presenting companies are seeking anywhere from $500,000 to $20 million in funding and have revenue projections of $20 million within five to seven years. "The Investment Forum is really unique," said Roy Stein, founder and CEO of BabelBark. "It gave us exposure to a mix of people with different backgrounds that were open minded and ready to listen to the newest technology. During Global Animal Health Week we connected with significant investors, potential partners and clients that provided us with enough traction to secure funding and …
