Ownership Issues - Veterinary Economics
Friday, May 9, 2008
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Ownership Issues
  • I've been sued. Now what?




    Your Medical Career and financial stability flash before your eyes. A gut-wrenching feeling takes hold. This is it; you've been hit with a malpractice lawsuit.

    Who's in control?




    Someone is in charge at your practice. If you're the owner, it should be you. But you might be surprised to learn that the de facto leader of many practices isn't the person whose name is on the deed—it's a team member given too much power by a boss who doesn't want to manage or is afraid to.

    Ommm for owners




    Good associates are rarer than hen's teeth, so how do you attract them to your cozy practice and keep them?

    Build it, but will they come?




    I love my big building—until I compare it to another $1 million practice in our group, an older but well-maintained 2,500-square-foot facility.

    Total compensation statement



    Use this Excel spreadsheet to show associates and team members how much you spend to employ them.

    The R word: Recession


    With a possible recession looming, a wave of financially struggling clients may be cresting at your door. Are you ready?

    The measure of a machine



    New equipment can yield rewards that don't show up on a cost-benefit analysis.

    Associate vehicle ownership and care



    Should we require our associate veterinarians to own their own vehicles? We're finding that they don't take care of the practice-owned trucks. What are the ramifications of making this change, and what are other practices doing?

    Lights! Camera! Meet!



    Our 24-hour clinic has a main office, three satellite facilities, 14 veterinarians, and 80-plus team members, so staff communication is always a challenge. In addition to a weekly newsletter, we have monthly meetings for each department and a monthly staff meeting for everyone.

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