Owners
I heard there is a new bankruptcy law. What are the details?
October 1st 2005Starting in October, it'll be harder for people to file for personal bankruptcy under Chapter 7, says Veterinary Economics Personal Finance Editor Fritz Wood, CPA, CFP. Under Chapter 7, debtors can wipe away unsecured debts such as credit card bills after certain assets are liquidated.
What's the first thing I should do to reduce my practice's liability
September 1st 2005"Never practice without liability insurance," says Dr. Karl Salzsieder, JD, a Veterinary Economics Editorial Advisory Board member and a consultant in Kelso, Wash. "I know of one veterinarian who inadvertently let his insurance expire. Within two weeks, he had a suit that cost him $7,000 to settle."
Shifting money between benefits
September 1st 2005I'm a full-time veterinarian, and my employer pays for my health insurance, which costs about $4,000 a year. I recently got married, and my husband's insurance is better. If I join my husband's policy, should I get that $4,000 benefit somewhere else in my package? Is it fair to ask my boss to add it to my salary or to add more paid vacation days in equivalent to the benefit money?
Retaining-and honoring-trusted team members
September 1st 2005"It can be difficult for any practice to retain good employees," says Beth Montoya, hospital administrator at Pembroke Veterinary Clinic and Sajo Farm Veterinary Hospital in Virginia Beach, Va., and Great Bridge Veterinary Hospital in Chesapeake, Va. "But in areas with many strong veterinary hospitals, we have to work even harder."