Financial Management | Veterinary Economics

Financial Management

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VETERINARY ECONOMICS: Feb 01, 2005
They're here to stay. And the sites that target consumers are making heavy-duty media buys. Are you often doing enough to explain why clients should buy medications from you?
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VETERINARY ECONOMICS: Feb 01, 2005
By dvm360.com staff
Expect health insurance to cost about 10 percent more this year, marking five years of double-digit increases, according to The Washington Post.
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DVM360 MAGAZINE: Jan 15, 2005
Any practice that modifies, adapts or adds to the business premises will qualify for a write-off period.
Jan 01, 2005
By dvm360.com staff
With the help of a patient-care coordinator, Veterinary Medical Clinic in Tampa, Fla., is seeing double-digit growth for the first time in years--and patients are enjoying even healthier lives, says practice owner Dr. Eddie Garcia. "The patient wins because it gets a better follow-up on what the doctor recommends and a better quality of life, and the client gets to enjoy the pet longer. The clinic wins because we're providing the service and making the income," he says.
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VETERINARY ECONOMICS: Jan 01, 2005
The American Jobs Creation Act of 2004 created billions of dollars of tax breaks.
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VETERINARY ECONOMICS: Jan 01, 2005
Not long ago in a Midwestern town, the owner of Wylie Animal Hospital, a two-doctor practice, called our office for help. The caller, Dr. Rudy Wylie (a composite character based on real practitioners), was an established practitioner whose companion animal practice had always been able to pay its bills, give staff members an annual raise, and maintain its client base.
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VETERINARY ECONOMICS: Dec 01, 2004
Small business owners are particularly vulnerable to the risks of a prolonged illness or disability, because they're often the business's main asset. In other words, the business's success often depends on the owner's ability to earn income. As a business owner, you need to protect both your personal and business income. And the right insurance provides that protection.
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VETERINARY ECONOMICS: Dec 01, 2004
The Internal Revenue Service (IRS) cares about accurate classification of employees and independent contractors, but so does your state unemployment tax department. No one ever thinks he or she will get audited, and many practitioners are surprised to learn that state unemployment departments often audit more frequently than the IRS.
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VETERINARY ECONOMICS: Dec 01, 2004
We're having trouble monitoring the counts of specified items, calculating an accurate budget for inventory costs, and staying within that budget. We've identified our A, B, and C inventory items. What more can we do to get inventory under control?
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VETERINARY ECONOMICS: Dec 01, 2004
Financial planning early in your career is perhaps the most important thing you can do to make sure you accomplish your personal and professional goals. In fact, the day you leave school would be a great time to start planning. But regardless of your age or career stage, it's never too late to gain value from a hard look at your financial situation and advice from a financial advisor who can help you identify and implement your financial plan. Here are the essential components of a financial plan:
Nov 03, 2004
By dvm360.com staff
After Veterinary Economics published "Caught in the Middle: Business vs. Compassion" in June 2004, we received several letters fueling the discussion. One in particular, from Dr. Lowell Novy of Valley Veterinary Clinic in Simi Valley, Calif., provided an interesting solution: Start a nonprofit organization to help cover costs.
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VETERINARY ECONOMICS: Nov 01, 2004
What do I do with a relief veterinarian who doesn't stick to my fee schedule?
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VETERINARY ECONOMICS: Nov 01, 2004
Is it reasonable to charge a holiday surcharge for boarding pets? Hotels charge more during holidays. I want to be fair to my clients, but I also want my clients to be fair to us!
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VETERINARY ECONOMICS: Nov 01, 2004
In the past year, I've learned that a little laziness and a lot of assuming can cost big bucks. First it was our radiology badges—I assumed we all paid about the same price for this service. But when an astute colleague asked about the going rate in our area, I learned I was paying four times more than some of my colleagues!
Nov 01, 2004
Cleveland—Though many veterinarians fret about student loans prohibiting them from buying a practice, the real killer is revolving credit, such as credit cards and car loans.