Business

Suddenly, in the midst of attempts to grow your practice, you find your cash flow dried up. And let's say your bank, no matter what you do, can't help you. What else can you do?

During the first few years of practice, it's not unusual to dig through textbooks, go online, or read up on cases during spare time. But somewhere around the third year of practice, most of us gain a level of comfort with medicine that stems late-night reading. We go on autopilot.

Long-range strategic planning requires making hard decisions in your practice. First, you must decide what you and your team are going to do more of. What's working? What services, activities, and products generate the most practice growth and are the most profitable? For example, are pre-anesthetic risk assessments profitable—and good medicine? If so, you may want to challenge your team to increase clients' acceptance of such procedures.

OLYMPIA, WASH. - 4/21/05 - Washington lawmakers have deferred a bill formalizing veterinary technician training to the House Department of Health's Sunrise Review.

So, you have found the perfect person to fill the position of veterinarian (or technician, client service representative).

Three-quarters of people still paying off their student loans say the payments are large enough to keep them from buying a car or a house, says the Cambridge Consumer Credit Index.

Have you ever stopped at a traffic light or just walked through a new section of town and inhaled the smell of garlic coming from a local Italian restaurant or the unmistakable aroma from a BBQ eatery? When you are paying the bill, do you ever wonder how you made the decision, spur of the moment, to fill up with pasta or ribs?

Commit to these 10 culture changes to build a terrific practice.

You know the product or service you're recommending could help your patients. The problem is holding clients' attention long enough to explain the benefits.

Veterinary practice can be fun, or it can be stressful. The trick is to figure out how to minimize stress points so you can experience enjoyment the majority of the time.

The careful design of this 3,010-square-foot hospital and the luxurious finishings belie the small footprint and reasonable price tag.

Want to avoid regrets about management? Learn to avoid these common missteps, pulled from candid conversations with practitioners.

Lack of respect for the facility can signal deficits in pride and care that hurt more than just the building if left unchecked.

With the advent of e-mail, it's easy to jot a disjointed note and send it off to clients or colleagues. But a slap-dash approach may lead you to say things you'd never consider appropriate if you were using a pen and paper. Keep out of trouble with these e-mail etiquette tips:

Student loan rates are at historic lows, says Veterinary Economics Personal Finance Editor Fritz Wood, CPA, CFP, but not for long. Wood says recent and soon-to-be graduates should act now to consolidate their student loans.

Regret is inevitable, but we don't have to hold onto it and the pain it causes.

Dr. Brad Rosonke, owner of Hillside Animal Hospital in Scottsdale, Ariz., has little interest in dentistry. But he knows that offering dental services means better care for his patients. His solution: Hire a dental resident--in his case, Dr. Peter Bates--to visit his practice on a regular basis. "This is a win-win-win situation," says Dr. Rosonke. "Dr. Bates needs to see more patients during his residency, I'm now free to see other patients while he's taking care of dental issues, and our clients get more complete care for their pets."

If you and your employees use work-related e-mail addresses, you probably face in boxes that bulge with spam, technically known as unsolicited commercial e-mail. And you're not alone in the battle against notices for low mortgage rates and questionable pharmaceuticals.

Studies show morale and turnover improve when team members feel appreciated.

A growing business adds customers, expands inventory, buys equipment, and hires new staff. The future looks great on paper, but the additional expenses bring a cash crunch, particularly if collections are slow.

Think you know where your personal finances stand? If you're married, your spouse likely sees family earnings and expenses differently.

Lack of respect for the facility can signal deficits in pride and care that hurt more than just the building if left unchecked.

I'm about to sell my practice. Is there any reason why I can't do the appraisal myself?

Imagine you receive a call about a horse experiencing a severe case of colic. You stabilize the horse and perform a physical examination, after which the horse exhibits signs of colic again.

Reminder cards are veterinarians' strongest tool to build repeat business and help their clients keep up-to-date on their pets' care.

In addition to arrhythmias, valvular insufficiency as detected by the auscultation of a murmur may result in signs of exercise intolerance.

I've played hockey for many years, often once or twice a week. One day it dawned on me I wasn't improving. Instead I was doing the same wrong things over and over--I was playing but not practicing. Finally, I took a skills class and was amazed at how much I didn't know.

At our practice, we have an inventory team that handles ordering and tracking of drugs, lab supplies, food, and so on. But we still struggle with inventory accuracy. Would establishing an incentive program for the inventory team help?

Don't know where to start? Here's what you need to know to communicate effectively with your insurance agent:

I have lost count of the number of occasions when I have written in this column that partnership in a veterinary practice is very similar to marriage. The analogy is one that potential partners must ignore at their peril. Nonetheless, joint ownership of a professional practice can be much like something else as well: a couple moving in together.