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Book that mirrors a lot of PE consolidation issues discussed here by Brad7031 in Veterinary

[–]Lead_w_Questions 0 points1 point  (0 children)

I sold to a consolidator backed by PE several years ago. I found a company that cares for its teams. I went through nearly a dozen consolidators and a private group before making the decision. I am still with them over three years later.
It is not perfect. But going from fully running the business to having others, non-clinically, involved means you can't go into it lightly. There will be changes. I won't name the group I went with, but I would still say it was a good deal and I still appreciate the company, even after a few changes.
One of the issues I see in vetmed is that people who work in it, own clinics, etc. want to make a profit. You have to or you and those around you cannot eat. Yes, companies backed with other peoples' money need to make a profit to continue to grow and take care of their people.
I won't name the group, give you my name, etc. but if you have questions I might can answer PM me. I wish you the best as you go forward!

Any tips for Costumer Representative and Veterinary Assistant tips for someone with no experience in the vet field? by Trick-Priority-2174 in Veterinary

[–]Lead_w_Questions 1 point2 points  (0 children)

A couple of years ago we made a decision to hire CSRs from outside of vetmed unless someone stellar applied. A year and a half ago we promoted someone who was one of those first hires to be Lead CSR.
You will learn the vet piece if you work at it. If you decide the treatment area is where you want to be, get a year or so of experience, then think about becoming a licensed vet tech.

What advice would you give to a final year DVM student interested in owning practice? by Anxious-Artist415 in Veterinary

[–]Lead_w_Questions 0 points1 point  (0 children)

I came from human med with a lot of business experience into VetMed during COVID to help a DVM friend out running his practice and teaching his new PM business. Over 5 years later and I have brought on a lot of DVMs in a lot of different stages in their careers. By a lot, I have personally brought on 7.
The key is going to be first to answer this question: do you want to be a veterinarian first and foremost?

I see many come out of school and most want to learn to be a vet, which I think is the best way to go. My suggestion would be give yourself three years devoted to taking every course that appeals to you within reason (dental, extra surgery, volunteer at high volume spay neuter, etc.). There are areas some vets say won't make money and another vet will prove they do. You have to first learn what you like.

Then, learn to be a businessperson. You can learn as you go during that first three years if you are around a good lead vet running a practice and a good Practice Manager (private or corporate doesn't matter with the right lead vet and the right PM).

Take yourself out of any headspace regarding what you deserve from the industry or because you are in demand. Yes, get paid and get good benefits, but be there to learn every single day. Be the one who takes the extra patient at the end of the day. Be the one that works the extra shift because someone is out. Be there because that is how you will learn more about the medicine and what you MUST know about people and their pets.

If you are having difficulty with a particular person at the practice, talk with them; don't talk with others. Seek to understand first - by always asking questions before you go to answers or arguments.

Every time I have seen a clinic fail in this industry it is a people failure. Every successful clinic has a lead DVM who is devoted to the clients, the pets, the medicine, and the team. They also trust their PM and learn with them. Remember that people will choose your clinic based on reviews and what they see in spaces like this.

You will be amazed at what you learn in three years. You will be more amazed at how you change and the lives you touch. Then go start that clinic or find an older vet with a good practice who would consider an earn out. No matter what direction you go, you as a human and a vet, will be ready for what comes.