Veterinarians Slated To Be Exempt From Red Flags RuleDecember 9, 2010 Veterinarians practices and other health care practices are on the brink of being exempt from the Federal Trade Commission’s Red Flags Rule now that both the House and Senate have passed the Red Flag Program Clarification Act. It currently awaits the President’s signature before becoming law.Veterinary practices and other health care practices are on the brink of being exempt from the Federal Trade Commission’s Red Flags Rule now that both the House and Senate have passed the Red Flag Program Clarification Act. It currently awaits the President’s signature before becoming law newsline Veterinary practices and other health care practices are on the brink of being exempt from the Federal Trade Commission’s Red Flags Rule now that both the House and Senate have passed the Red Flag Program Clarification Act. It currently awaits the President’s signature before becoming law. The Red Flag Program Clarification Act, as described by the American Veterinary Medical Association, defines the term “creditor” more narrowly than the FTC had, with the intent of exempting small businesses and other service providers who do not receive payment in full from their clients at the time they provide their services. The AVMA was part of a …
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Hold Off Or Write Off?December 8, 2010A new laboratory suite can take the bite out of 2010 taxes. It’s that time of year when veterinarians decide to make an in-house laboratory purchase or find they need to hold off. Fortunately, there are purchase options for 2010 tax deductions that allow for a write-off whether or not the practice has made a profit. The Small Business Jobs and Credit Act of 2010, signed into law by President Obama on Sept. 27, made veterinarians’ capital improvement plan options a lot better. If a veterinarian has a profitable year in 2010, they could write off on their tax return as much as $500,000 on equipment purchases. The law expands section 179, doubling the write-off amount from $250,000 to half a million dollars. This allowance could boost any practice’s bottom line, experts say. But, if this sounds too good to be true, it might be. Accountants should be able to properly advise a veterinary client based on the practice’s financial situation and state guidelines. “The $500,000 is a federal limit, not a state limit,” says Gary I. Glassman, CPA, of Burzenski & Company, P.C., a Connecticut-based accounting firm. “Each state has its own income …
Voting Deadline Looms In Heska’s ‘Inspiration’ ContestDecember 8, 2010 Heska Corp., a provider of veterinary diagnostic and specialty products, has narrowed the competition of its 2010 Heska Corporation Inspiration In Action Contest down to four finalists: the Panama Amphibian Rescue and Conservation (PARC) Project, Pets Forever, the Prevent Unwanted Pets (PUP) Project and World Vets. Heska asked veterinary professionals across the industry how they would use $25,000 to support and inspire their profession. The second place winner will receive $5,000. The Loveland, Colo.-based company received more than 100 submissions. Heska is now asking the public to vote for one of the top four ideas at their website. Individuals may vote only once. Deadline is Dec. 15. “The Inspiration In Action Contest is the latest of our ‘Smarter, Together’ projects and demonstrates our belief that great ideas come to life when we work in partnership with our customers and colleagues—individuals who are very gifted and dedicated professionals,” said Robert Grieve, Heska’s chairman and CEO. Finalists’ Inspirations at a glance: • PARC Project – Averting the threat of extinction for amphibian species. • Pets Forever – Helping low-income, ill or elderly individuals care for their pets. • PUP Project – Implementing an …
New Study Reveals Most Cats Will Wear CollarsDecember 7, 2010 Almost 73 percent of cats wore collars consistently during a six-month study period; statistics that can help veterinarians discuss the importance of pet identification with cat owners, according to The Ohio State University. Convincing cat owners, even those with indoor-only cats, that their pets need identification is a “tremendous uphill battle,” said Linda Lord, DVM, Ph.D., assistant professor of veterinary preventive medicine at the university and lead author of the study. “A lot of people start out with the dogma that cats can’t wear collars, that they won’t tolerate them or that they’re dangerous,” Dr. Lord said. “Now pet owners can look at this research and, if they own a cat, maybe they will now consider that they will be able to put identification on them. A collar with an ID tag is probably a cat’s greatest chance of ever being re-homed or brought back if it is lost.” The researchers recruited 338 cat owners for a total of 538 cats from the college of veterinary medicine at Ohio State, the University of Florida, Texas A&M University and Cornell University. Thirty-two animals were withdrawn from the study for various reasons, leaving 506 cats. Cats were …
Social Buying Website For Pet Owners LaunchesDecember 6, 2010 BarkingDeals.com, a social buying website for pet owners, officially launched today. The website offers members a deal a day on an array of pet products, including grooming supplies, treats and toys. Members can share those deals via Facebook, Twitter and e-mail. “When we noticed the popularity of economical, group buying sites increase, we wanted to offer the same type of service to the pet owner community,” said CEO Steve Watters. “By offering new deals daily, members can try products that they might not have tried otherwise.” Barking Deals of Oldsmar, Fla., said it partners with pet product manufacturers and distributors to offer members pet products for 50 percent to 90 percent off. Manufacturers benefit by being able to introduce their brands to a niche group of receptive consumers who are likely to pass on recommendations to others via social networks, according to the company. “It’s a great way for manufacturers to launch or expand their social media programs to committed buyers and a great way for consumers to see what else is out there for their furry friends,” Watters said. “It’s a win-win for all.” Today’s deal is $7.91 for a combo pack of Calm …
FDA Approves First Drug To Prevent Fescue Toxicosis In HorsesDecember 3, 2010 The U.S. Food and Drug Administration reported today that it has approved the first drug to prevent fescue toxicosis, a disease that can cause reproductive problems in horses. Equidone Gel (domperidone), which is marketed and distributed by Dechra Veterinary Products of Overland Park, Kan., is a dopamine antagonist that works at the cellular level to block the agonistic action of toxins produced by an endophytic fungus living on fescue grass. The product is administered orally by syringe once a day. The gel comes in disposable 25 cc syringes that can be used for multiple doses. The strength is 110 mg domperidone per cc of gel. The FDA has approved Equidone Gel (domperidone), a dopamine antagonist that works at the cellular level to block the agonistic action of toxins produced by an endophytic fungus living on fescue grass. In a letter to veterinarians, the FDA said, “Equidone Gel is the only FDA-approved animal drug that contains domperidone as the active ingredient. Now that Equidone Gel is approved and available for veterinary use in the United States, domperidone should not be imported from other countries or compounded from bulk…You may have specific patients that require …
Scil Animal Care Company Adds CE Courses For 2011December 2, 2010 Scil Animal Care Company Inc. of Gurnee, Ill., has added Internal Fracture Fixation and TPLO Made Easy to its continuing education course offerings. Registration for the courses, which are available through Scilvet Academy, begins Jan. 1. The Internal Fracture Fixation class will review classifications and nomenclature of fractures, bone healing, fracture forces and selecting appropriate implants. The lecture portion will also discuss power equipment, the surgical techniques involved with the use of implant plates, screws, IM pins and wires. In the hands-on workshop, the attendee will perform repairs of selected fractures of the humerus, radius/ulna and femur/tibia. The workshop will close with a discussion of postoperative care. “This basic course will give the veterinarian the skills necessary to make appropriate decisions in handling fracture cases and repairing them in their own clinic,” said Jeff Mayo, DVM, Dipl. ABVP, a Scil CE instructor. “The course will set the foundation for pursuing more advanced techniques.” The TPLO Made Easy class will focus on evaluating and diagnosing canine cruciate disease. Components of the TPLO saw, implant system and appropriate implant sizes will also be discussed. The hands-on workshop will cover surgical techniques involved in …
How Good A Surgeon Are You?December 1, 2010 Time flies. It has been three years since my first monthly surgery column in Veterinary Practice News. To celebrate this anniversary, I will ask some simple questions to test your surgical knowledge of past Surgical Insights. Circle “true” or “false” for each question. 1. Incisions heal end to end, not side to side. Therefore, a good surgeon should strive to make the shortest possible incision to speed up healing. True or false? 2. To be exact, a laparotomy is a flank incision. A celiotomy is a ventral midline incision in the linea. However, a laparotomy is considered an accepted synonym of celiotomy. True or false? 3. Surgery on a ruptured bowel or gallbladder is considered clean contaminated. True or false? 4. We should minimize the duration of anesthesia and surgery because each additional hour under anesthesia increases the risk of infection by 30 percent. True or false? Grade Yourself Odd-numbered statements (1, 3, etc.) are false. Even-numbered (2, 4, etc.) statements are true. 0-9 correct answers: Don’t feel bad, you probably would have aced a quiz on Cushing’s disease or chronic renal failure. That …
Dechra Grows Vet Pharmaceutical Business With UK AcquisitionDecember 1, 2010 Dechra Pharmaceuticals PLC reported today that it has acquired Genitrix Ltd., a U.K.-based veterinary pharmaceuticals company, for about $8.4 million. An additional $1.2 million will be payable upon achievement of specific milestones, according to Dechra Pharmaceuticals, also based in the United Kingdom. Dechra's acquisition is consistent with the company’s strategy to grow its international veterinary pharmaceutical business, said Dechra Pharmaceuticals, which has a U.S. division, Dechra Veterinary Products, in Overland Park, Kan. “Genitrix range of equine and companion animal products enhances and complements our U.K. product portfolio,” said Ian Page, chief executive of Dechra Pharmaceuticals. “Furthermore, the recently approved canine epilepsy product, Libromide, provides future growth opportunities through potential mutual recognition in Europe. The acquisition is expected to be earnings enhancing in the first full year following ownership.” Genitrix had revenue of about $3.7 million in the year ended March 31, 2010, according to Dechra Pharmaceuticals. <Home>
New Study Group Focuses On Practice ManagementNovember 30, 2010 EDTA new study group has formed to offer independent veterinarians a way “to improve their practice management success through the sharing, analysis and discussion of key information, challenges and opportunities in an increasingly changing industry.” The group, Strategic Growth Alliance, was formed by Purchasing Services Inc. of St. Petersburg, Fla., in partnership with Gary Glassman, CPA, a partner with the veterinary accounting and financial consulting firm of Burzenski & Co. P.C. in East Haven, Conn. The study group will consist of 20 Purchasing Services practice owners. Each practice will provide financial and operational data, which Burzenski & Co. will analyze. <Home>
