Why do vets increasingly shun practice ownership?July 8, 2024There are so many powers in play (educational, generational, familial, and geographical factors, etc.), but columnist, Dr. Patty Khuly lists top four she considers as the most daunting stumbling blocks to practice ownership.
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How independent veterinary practices are winning with clientsApril 26, 2024Often, clients turn to independent veterinary clinics for a more personalized and attentive approach to pet care, without the constraints of corporate protocols.
The next generation of practice ownershipMarch 15, 2024Practice ownership options vary by degree of partner involvement, risk tolerance, veterinarian income upside, work-life balance potential, capital requirement, and, ultimately, span across a unique set of potential independent ownership and partnership paths.
From vision board to visionary practiceNovember 1, 2023Mike Cao, DVM, shares how the Irvine Valley Veterinary Hospital (IVVH) remains unique in the growing arena of corporate-owned practices.
How best to survive a license complaintSeptember 22, 2023Although a license complaint from their state’s veterinary board is among the few things every veterinarian fears more than almost any other professional calamity, it is rare for veterinarians to lose licensure as a result of a complaint.
How a triple net lease protects youMarch 20, 2023Triple net leases, sometimes referred to as NNN leases, are very common in commercial real estate transactions where a building has a single tenant.
Career clash: Should you stay or should you go?December 6, 2022They say the grass is no greener on the other side. Alas, sometimes they’re wrong. There are plenty of reasons why seeking a position elsewhere is the better option. For example, when you find yourself uninspired by your profession, dreading your days, and/or generally behaving like the disgruntled, unsatisfactory employee you know you are not meant to be.
Why you should pre-plan your practice exitAugust 9, 2022Let’s start by talking about exit planning. When you think about this term, what does it represent to you? Many will perceive it means they are ready to sell tomorrow, but it is not absolutely true. Whenever you consider starting a business, and no matter the phase of business you are in, an exit plan is vital to your future success. Practice owners are waiting until they are tapped out, exhausted, and ready to get out as quickly as possible. This creates a tremendous amount of stress on what they receive for the sale of their practices and the likelihood of selling to another veterinarian is low.
Why a practice should build net worthJune 23, 2022Practice ownership is not an easy feat, and the demands put on you as the owner can feel unsurmountable. If you are a practicing veterinarian, it can be difficult to run a successful business while practicing high-quality medicine.
VPN Plus+ ExclusiveMy wildest dreams?June 2, 2022By Patty Khuly, VMD, MBAPractices like mine are easily worth 20 times their original sale price (and possibly a lot more given our profession’s feverish practice transaction climate in many suburban markets). Trouble is, I have such mixed feelings on the subject of selling that I do not even want to know my practice’s current market value. Sure, I can have a proper valuation done, but do I really want to go there?
