Veterinary News

The Veterinary category is for all Veterinary related posts.

The Pre-OP Physical for Your Practice Expansion

By |August 24th, 2013|

Whether thinking about starting a practice, expanding an existing facility or building new, this workshop will engage you in the thought process that every Practice Owner needs to go through long before even thinking about putting a shovel in the ground.

 

To download this presentation, click here: The Pre-OP Physical for Your Practice Expansion

Tips For Getting Under-Served Patients In The Door

By |August 13th, 2013|

You may benefit from “mining” your existing patient base and a concerted effort to get under-served pets in for care.  Surely your practice sends preventive care reminders.  Call those clients who do not respond after the second reminder and get appointments scheduled for their pets.  Make sure your front desk team contacts all clients with pets six months, one year and eighteen months overdue for services so these pets get the care they deserve.  Offer a promotion to get these pets in your door.  Most practices need to work on compliance for felines in their data base.  Call or e-mail cat owning clients and offer a 50% off “welcome back” exam to get those felines overdue for care into your exam room.  Last, but not least, have your team take lifestyle histories when patients present.  If the patient lives in a multi-pet household and another four-legged family member in need of care is identified, have your staff members get [...]

Veterinary Customer Spotlight: Dr. Beverly – Pennsylvania

By |July 22nd, 2013|

Veterinary Customer Spotlight

Dr. Beverly shares her experience with Live Oak Bank.

The Beginning Stages of Acquisition

By |June 19th, 2013|

If you are currently an associate in a practice and considering purchasing part or all of the practice, you will likely ask: how do I begin this process?  The first step is confirming that you are willing to take on the additional responsibilities of practice ownership; often times a conversation with the current owner can strengthen your desire to be an owner. The next step is to gather key financial data on the practice. This includes three years of tax returns, interim profit and loss statements dated within 90 days, and production reports from the practice software system.

These documents will allow you to sit down with a qualified practice valuator and help you determine a purchase price that is feasible to support and fair to the seller.  This is key data, as you want to negotiate the purchase with supported data rather than assumptions.  Having the data reviewed by a bank will enable you to secure financing.  These are [...]

How to Best Retain New Veterinary Clients

By |June 5th, 2013|

Your marketing strategies are working and new clients are coming in the door.  You need to keep them coming back—right?  First, make sure new clients form a great impression when they step into your reception area.  Is your staff providing the “wow” factor needed to set you apart from the competition?  Make sure your staff meet and greet clients AND their pets warmly and that the waiting area is clean, odor free and inviting.  Next, make sure your technical staff takes a thorough history and shows a sincere concern for the health and well-being of your new patient.  At check out, be sure both you and your staff thank your new client for the visit, encourage a return visit and schedule a recheck exam if needed before the client walks out your door.

Last but not least, COMMUNICATE, COMMUNICATE, COMMUNICATE.  Be sure your new client signs on for the patient portal on your website, knows to check out your website [...]

The Successful Strategy to Compete in the Marketplace Today

By |May 13th, 2013|

Ok, I admit it. I am getting depressed reading about the Veterinary marketplace today I hear “Schools are producing too many veterinarians. People are reducing the amount of dogs they own and cat owners aren’t bringing Tigger into the practice as often. Student debt keeps rising, salaries keep sinking, low-cost spay/neuter clinics, vaccine clinics, 1-800 Petmeds are ruining my business!” I could go on, but you get my point. There is no shortage of negative talk out there.
But, if things are so bad, why does Live Oak Bank’s Veterinary Loan Portfolio continue to be filled with customers who I am proud to be in business with? I still believe in the industry, and continue to see practices grow and thrive. However, I do see clients who are growing faster than normal, and with margins that are stellar. That gave me the idea for this article, to give you the secret strategy that helps these thriving veterinarians overcome all [...]

Veterinary Customer Spotlight – South Carolina

By |May 13th, 2013|

Dr. Jackson
South Carolina

Everyone at Live Oak is on my list of heros.  I am forever indebted to you all for what you have done and are doing for my practice.

Veterinary Customer Spotlight: Drs. Tom & Wendy – Ohio

By |May 4th, 2013|

Veterinary Customer Spotlight

Drs. Tom and Wendy share their experience working with Live Oak Bank.

You’re holding regular team meetings — right?

By |April 17th, 2013|

Team meetings present terrific opportunities for you to improve your practice for the better and, if your practice does not hold them regularly,—at least once a month—you may be losing out!  In the course of my practice consultations, one of the most common concerns presented by staff members is the absence of regular and effective communication in the practice.  Through regular team meetings, you can review and instill proper practice protocols, encourage team members when they are doing well, correct common mistakes and receive suggestions from your team on how the practice might function more efficiently.  In addition, if you have initiated training for the staff, you can review their progress.

So, how do you conduct effective and productive team meetings that do not digress into nothing but the voicing of complaints?  Every meeting needs a leader and an agenda.  Either you or your practice manager should lead meetings.  To create an agenda, begin by asking the staff to provide [...]

Expansion Plan Should Include Fee Increases

By |March 1st, 2013|

Your practice is bursting at the seams and you are ready to expand your existing facility or build a new hospital. To improve patient care, you may need more exam rooms, a bigger surgery suite or better traffic flow in the treatment area. How can you make the most of your transition to an improved or new space?
You will want your client base and your team to embrace the change. However, expansion or a new facility will mean increased overhead expense and the need for greater revenue. To grow revenue, you will need to increase new client visits and—more than likely—increase your fees.
You may fear price increases will not be well received and your staff may already be frustrated with explaining the high cost of quality medical care to clients. Just as you painstakingly and strategically plan every aspect of your new facility, start early, plan carefully and look for avenues to make your move a financial [...]