Posts by VetRx Solutions
6 Lessons from Vet School: What Clinic Owners Can Learn for Hiring Associate Veterinarians
Recruiting, hiring, and retaining associate veterinarians is one of the most consequential responsibilities for veterinary clinic owners and managers. Understanding what motivates new graduates and how their educational experiences shape their perspectives can help make your hiring and integration processes more effective. A recent article, 6 Other Things I Learned in Vet School, by Dr.…
Read MoreWhy Do Dogs Look Like Their Owners?
You’ve probably heard it before – dogs often resemble their owners. But is there any truth to this popular belief, or is it just another urban myth? As it turns out, science has some fascinating insights on this canine conundrum. The Eyes Have It Research suggests that there might indeed be a striking similarity between…
Read MoreThe Spectrum of Veterinary Care: Where Urgent Care Fits
Urgent care bridges the gap between general practice and emergency care: General Practice: Routine check-ups, vaccinations, and routine health issues during normal business hours. Urgent Care: Treats non-life-threatening but immediate needs (e.g., vomiting, minor wounds, ear or eye infections) Offers extended hours, including evenings and weekends Staffed by vets experienced Emergency Care: Handles life-threatening conditions…
Read MoreEvaluating Urgent Care for Your Veterinary Practice: Insights from Instinct’s 2024 Survey
This article reviews the 2024 State of Emergency and Specialty Veterinary Care Survey by Instinct, which gathered responses from 545 veterinary professionals at approximately 1600 emergency, specialty, and urgent care practices nationwide. The survey highlights key trends, challenges, and operational distinctions in these practice types. Part one summarizes the main findings, while Part two explores…
Read MoreUnderstanding EBITDA: The Key to Maximizing Your Veterinary Practice’s Value
As a veterinary practice owner considering selling your business, understanding EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) is crucial. This financial metric plays a pivotal role in determining your practice’s value and attracting potential buyers. EBITDA represents your practice’s operational profitability, providing a clear picture of its financial health without the influence of financing…
Read MoreOptimizing Inventory Management: Key Strategies for Effective Inventory Control
If your cost of goods sold (COGS) is more than 20%, this article can help. As a veterinary practice owner, optimizing your inventory management is crucial for maximizing profits and ensuring quality patient care. With inventory costs at many practices accounting for 20% or more of gross revenue, saving money on COGS is money that…
Read MoreWhat is SEO? Why is It Important for Patient Growth? How to Use In-House Review Management to Improve It?
What is SEO and Why is It Important? In short, SEO is what makes your Google page rank higher. How to do that? This is where SEO comes in. Here’s how SEO (Search Engine Optimization) works – in simple terms. Imagine the internet as a vast library, with millions of books (websites) on every topic…
Read MoreUnlocking Profit Potential: How to Calculate EBITDA and Use it to Power Your Practice
Unlocking Profit Potential: How to Calculate EBITDA and Use it to Power Your Practice EBITDA, or Earnings Before Interest, Taxes, Depreciation, and Amortization, is a key financial metric used to evaluate the profitability of a veterinary practice. It essentially shows how much profit a practice generates from its core operations, excluding expenses related to financing,…
Read MoreHow Does Your Practice’s ATC Compare?
Tracking the Average Transaction Charge (ATC also known as ACT) is key to understanding how your veterinary practice stacks up against others both nationwide and in your region. According to iVet360’s 2024 Veterinary Industry Benchmark Report, ATC rose nationally by 7.6% from 2021 to 2022 and by 8.3% from 2022 to 2023. The West had…
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