Planning Your Transition to Veterinary Practice Ownership

If you are considering becoming a practice owner, you’re probably feeling a lot of excitement—as well as a healthy dose of fear. Taking on practice ownership is a big responsibility, but it offers a wide range of rewards, too. As owner, you’ll be the one defining its direction, growth, and standard of care. You’ll also contribute to its culture and be instrumental in developing an inclusive, high-functioning work environment. And that’s not all. A practice is an investment, paying in dividends and then, when you’re ready to sell, it’ll be worth substantial value. Yet, practice ownership has its dark side
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Easy Ways to Re-energize your Team Meetings

Boring. Robotic. Unproductive.  A game of word association or a description of your team meetings?  If you chose the latter of the two, read on for some easy tips to help put the spark back into your team meetings and your practice! 1 Make it about them.   Employ the “open mic” policy and share air time. Amanda Morris, MBA and CVPM, Care Animal Hospital in Indiana, employs this at her practice by requiring each staff member to present what they’ve learned after attending a continuing education session. Team meetings are an opportunity to hear different perspectives so keep an
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How to Correct a Low Average Doctor Transaction (ADT)

Low ADT:  The target ADT for the practice is $160 to $175 and the doctors’ actual ADT ranges between $125 to $155. Correction 1: Forward-book the patient’s next appointment for medical progress/follow-up appointments, dental prophylaxis, preventive care appointments, follow-up bloodwork, etc. to ensure patients receive the healthcare prescribed by the hospital’s medical protocols of care and charge for all exams.  It’s not unusual for hospitals to neglect to charge for extended exams, medical progress exams, and hospitalized patient exams. Correction 2: Evaluate patient compliance with the hospital’s protocol for laboratory testing (related to preventive wellness care) and dental prophylaxis protocols. 
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