KSM (Katz, Sapper & Miller)’s Post

Transform Your Veterinary Practice with VetSOAP in Today’s Economy! 🐾💡 Are you struggling to keep up with the demands of running a veterinary practice? VetSOAP is here to revolutionize your workflow and boost your efficiency. 📖 Must-Read: Terence O'Neil O’Neil’s article from AVMA (American Veterinary Medical Association) highlights how optimizing workflows and leveraging technology are key to success in our industry. 🚀 Our recent white paper reveals that VetSOAP can save your practice up to 2 hours per day by automating administrative tasks and streamlining medical records. Imagine what you could achieve with that extra time – more focus on patient care, enhanced client communication, and a significant increase in productivity. 🔍 Discover the VetSOAP difference for yourself! Sign up for a free trial today: https://www.vetsoap.ai Join the growing number of practices transforming their efficiency with VetSOAP. #VeterinaryMedicine #PracticeEfficiencya Peter Hart Jason Szumski, DVM Vetcor

3 Top Tips how to present your Veterinary Practice in the Best Possible Light https://lnkd.in/g7M5wKef

This is just wrong guidance to sellers... If you're a veterinary practice owner planning to sell your practice, you should ignore this blog. The condition and quality of your hospital equipment will not add $1 to the purchase price from corporate. It may be applicable for private sales, but likely immaterial in the final analysis. Outstanding debts, hospital or owner, will not lower the purchase price from corporate by even $1. Applicable for private sales or associate buy-in to a limited degree. Suggesting you can 'time' your practice sale...may be the worst idea on this blog.

Is it time to sell your veterinary practice? Veterinary accountant Gary I. Glassman, CPA says, "It's best to make a clean break. Don’t make the same mistake as many other practice owners who are selling the practice and proceed to negotiate sales, especially with associates, with a lot of strings attached. When contemplating the sale of your veterinary practice, consider this important fact: He continues, "An associate buy-in can create a good transition plan to retirement. But the decision to add an owner should not be made without a sound rationale for doing so. The motive is likely to be different for each practice, or even change every time a practice adds an owner. There also may be some compelling reasons why a practice should not choose a certain associate. A person should be made an owner only if he or she has the attributes of a productive owner.” Call Gary to discuss any issues related to selling a veterinary practice at 203-468-8133.

In Q4 2023, global revenue growth for veterinary hospitals was 8.4%, with invoice counts up by 3.6%. Despite this, rising labor and benefits costs are squeezing margins. Check out our analysis of financial data from over 500 Veterinary Management Groups - VMG member hospitals and our actionable recommendations to consider. #veterinary https://bit.ly/3Krakxx

KSM’s #veterinary consulting team analyzed financial data from over 500 veterinary hospitals to identify the latest industry trends and key insights. Our article provides an overview of data from the last quarter of 2023 along with actionable recommendations for hospitals to consider. #Accounting #CPA #Consulting

In Wicklow's latest blog post we tackle the things aspiring veterinarian hospital owners should be focused on as they prepare themselves and get their financial house in order. See the latest blog post here: https://lnkd.in/ejYb-k5n #veterinary #veterinaryownership #finances #network

𝗡𝗲𝘄 𝗼𝗻 𝘁𝗵𝗲 𝗩𝗲𝘁𝗮𝗻𝘀𝘄𝗲𝗿𝘀 𝗯𝗹𝗼𝗴 𝘁𝗵𝗮𝗻𝗸𝘀 𝘁𝗼 𝗖𝗮𝗿𝗹 𝗕𝘂𝗿𝗿𝗼𝘂𝗴𝗵𝘀 𝗳𝗿𝗼𝗺 𝗥𝗪𝗖 𝗣𝗿𝗮𝗰𝘁𝗶𝗰𝗲 𝗦𝗮𝗹𝗲𝘀... Whether you're thinking of buying or selling a veterinary practice, understanding the importance of a robust post-sale working arrangement can make all the difference! They work for both the seller AND the buyer and can make the transition that much less stressful in what can already be one of the most stressful times of your life. Read more on the blog https://lnkd.in/grWtXnJ9

We launched our review of the veterinary sector last September because this is a critical market for the UK’s 16 million pet owners. The unprecedented response we received from the public and veterinary professionals shows the strength of feeling on this issue is high and that we were right to look into this. We have heard concerns from those working in the sector about the pressures they face, including acute staff shortages, and the impact this has on individual professionals. But our review has identified multiple potential concerns with the market that we think should be investigated further. These include pet owners finding it difficult to access basic information like price lists and prescription costs – and potentially overpaying for medicines. We are also concerned about weak competition in some areas, driven in part by sector consolidation, and the incentives for large corporate groups to act in ways which may reduce competition and choice. Given these serious indications of potential concern, we are proposing to launch a market investigation because that’s the quickest route to enable us to take direct action, if needed. Read the full news story here: https://lnkd.in/e9i7QBPm

Check out this great article on the consolidation of veterinary practices! Ryan Leech highlights the importance of optimizing the cost of goods sold to improve profit margins. According to Ryan, practices should be making the most of inventory management to achieve this. If you're looking to improve in this area, consider Inventory Ally. Emmitt Nantz can help. Great job, Ryan!