Finance
5 ways to better manage labor
Having detailed job descriptions for each employee — DVMs, nurses, groomers, kennel workers and front-desk employees — is important.
Finance
What you need to know about 2018 taxes
Business owners would be wise to read up on the federal Tax Cuts and Jobs Act or ask their tax professional for guidance.
Finance
Think twice
Before you put more money into your practice, evaluate how quickly the investment will contribute to the bottom line.
Finance
A Balancing Act
You need to strike a balance between having enough cash to pay your bills each month and meet unexpected expenses, but not having so much cash that you are not utilizing your assets effectively.
Finance
An inside job
Many embezzlements occur because a practice has not implemented appropriate internal controls.
Finance
Discounts? No!
If you discount your services to senior citizens, military members or firefighters, just stop. Instead, grandfather these clients by continuing their discount, but do not offer one to new clients.
Finance
When Selling to an Associate Makes Sense
When an associate veterinarian buys the practice, the seller usually has a greater ability to negotiate the most important benefits.
Finance
Make effective use of your team
Veterinarians generate active income. The all-important passive income starts with the staff members.