{"id":11124,"date":"2021-12-01T00:00:53","date_gmt":"2021-12-01T00:00:53","guid":{"rendered":"https:\/\/todaysveterinarybusiness.com\/?p=11124"},"modified":"2022-06-15T17:48:15","modified_gmt":"2022-06-15T17:48:15","slug":"solo-veterinary-practices","status":"publish","type":"post","link":"https:\/\/navc.sitepreview.app\/todaysveterinarybusiness.com\/solo-veterinary-practices\/","title":{"rendered":"The Solo Option"},"content":{"rendered":"

If you think corporations dominate the veterinary practice landscape, think again. In reality, multimillion-dollar (and multibillion-dollar) companies own about 20% of the estimated 35,000 U.S. clinics and perhaps half of the specialty practices. The percentages are growing, but not all that fast.<\/p>\n

That\u2019s one reason the Independent Veterinary Practitioners Association isn\u2019t running scared but rather promoting the idea that a locally owned and operated practice can be a profitable and satisfying option for a veterinarian.<\/p>\n

\u201cIt\u2019s healthy to have a balanced ecosystem,\u201d said Dr. Bonnie Bragdon, the co-founder of the 500-member IVPA and a former practice owner. \u201cThere are practices so big and so complex that it\u2019s natural for a corporation to own them. But it\u2019s also important for veterinarians, and even nurses, technicians and practice managers, to continue to own practices, because that keeps the profession competitive, viable, growing and thriving.\u201d<\/p>\n

Independent practices<\/a> enjoy two big advantages, Dr. Bragdon said. One is their ability to \u201cform a very deep relationship with the customer and offer very personalized care,\u201d she said. The other is that they represent choice.<\/p>\n

\u201cConsumers want to know whether the practice they visit is independently owned,\u201d Dr. Bragdon said. \u201cJust like they have a choice to go to Costco to buy their vegetables or go to the local farmers market, consumers want that choice.<\/p>\n

\u201cI don\u2019t want choice to disappear. And I don\u2019t want veterinarians, nurses, technicians<\/a> and practice managers to lose the choice in where they work, how they practice and how they take care of themselves financially.\u201d<\/p>\n

At the same time, Dr. Bragdon understands the lure of a big payout.<\/p>\n

\u201cWhat I get sad about is when a practice sells simply because of the stress of running the practice. That is not a good reason to exit,\u201d she said. \u201cAlso, there are times if you sell early to a corporation and are in your 40s or 50s and have another 20 or 30 years to work, you potentially are losing money. You\u2019re going to have to become employed or buy another business.<\/p>\n

\u201cNow, if it\u2019s the right time for you to exit, absolutely you should sell and get what you can financially. If your exit means you have to continue to work there, that should be factored into the purchase price.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

If you think corporations dominate the veterinary practice landscape, think again.<\/p>\n","protected":false},"author":23,"featured_media":18581,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"iawp_total_views":0,"footnotes":""},"categories":[312],"tags":[],"class_list":["post-11124","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-december-2021-january-2022","column-editors-letter","clinical_topics-from-the-editor","clinical_topics-practice-ownership"],"acf":{"hide_sidebar":false,"hide_sidebar_ad":false,"hide_all_ads":false},"yoast_head":"\nThe Solo Option | Today's Veterinary Business<\/title>\n<meta name=\"description\" content=\"IVPA co-founder Dr. Bonnie Bragdon says it\u2019s important for veterinarians, technicians and managers to own veterinary practices.\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, 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