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Top 10 Reasons To Be Accredited: How Professional Standards Benefit Your Clients and Practice
by Allison Farey | Published 09/23/2007 | Practice Management & Marketing : Vet
Providing excellent patient care and building a professional business that is both successful and a nice place to work are common goals for most veterinarians. The AAHA Standards of Accreditation help practices succeed in both. While accreditation is voluntary, the shared experience of preparing for and completing the process benefits the entire practice team.
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Inventory Management Made Easier
by Mike Hughes | Published 03/15/2007 | Practice Management & Marketing : Vet
Managing inventory in a veterinary practice can feel overwhelming. After all, you must order, stock and note the various uses of 1,000 or more line items. It helps to break the large project into smaller parts. You’ll not only protect your sanity but also save your practice money.
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Digital Radiography: An Emerging Trend In Veterinary Medicine
by Seth Wallack | Published 09/23/2007 | Equipment & Technology : Vet
Digital radiography is the current buzzword in veterinary medicine. The technology encompasses computer radiography, direct digital radiography and charge couple devices, and offers many obvious benefits – in addition to other benefits you may not yet know about.
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Financing Options For Your Practice Purchase
by Jim Baum | Published 03/31/2009 | Practice Acquisition & Start-up : Vet | Financing & Financial Planning : Vet
While today's economic environment is certainly challenging, there are still a number of financing options available to veterinarians transitioning to ownership through a practice purchase.
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Getting Your Ducks In A Row: Preparing For A Start-up Or Expansion Project
by Richard Armstrong | Published 08/23/2007 | Practice Acquisition & Start-up : Vet | Office Design & Construction : Vet
Migrating ducks instinctively know that their survival depends on the leadership of one individual. Following the lead duck, they have the best chance of staying on course. Failure to follow the leader puts the flock at risk of being scattered in all directions. As you embark on your new hospital project, you can learn a lot from these ducks.
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Hospital Construction: Using a Consulting Team to Build Project Success
by Kelly TerWisscha | Published 09/23/2007 | Office Design & Construction : Vet
Constructing a new veterinary facility can be a daunting task that requires time and focus, not to mention a considerable financial investment. So what’s the best way to ensure you get your money’s worth and the outcome you’re hoping to achieve?
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Lease or Term Loan - What Is Right For Your Practice?
by Allison Farey | Published 12/01/2007 | Financing & Financial Planning : Physicians | Financing & Financial Planning : Vet
It’s amazing how your bottom line is affected by the equipment financing you choose. But which option is best for your practice? Here’s an overview.
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Getting Ready for Practice Ownership
by Dave Gerber | Published 03/15/2007 | Practice Acquisition & Start-up : Vet
As a private practitioner, you have three career choices: associate, relief doctor, or owner. Each requires a different mindset.
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Leadership: Key to a Successful Transition
by Tammara Plankers | Published 06/06/2008 | Practice Acquisition & Start-up : Vet
Most veterinary hospitals ultimately succeed – but inevitably, some new practice owners run into transition difficulties that require considerable assertiveness to overcome. Whatever challenges you may face when transitioning to ownership, your practice can survive and thrive when you apply the lessons of leadership. Take a look at how two new practice owners used their leadership skills to overcome a difficult situation.
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Building Your Practice Through Debt Consolidation
by Author Not Available | Published 08/06/2007 | Financing & Financial Planning : Vet
Financial institutions allow us to achieve our dreams like never before. If you’re like most practitioners, you probably took out your first loan to finance veterinary school. Years later you may have borrowed again to realize your dream of owning your own practice. And as your business and professional goals grew, you may have decided to finance the expansion of your practice.
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Insurance Considerations During Practice Transitions
by Ed Branam | Published 03/15/2007 | Financing & Financial Planning : Vet | Legal & Business Planning : Vet
As a veterinarian, you may experience several transitions during your career. To protect your professional and personal assets, it’s important to include insurance as part of your planning.
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Associateship to Buy-in: The Importance of Written Agreements - Part 1
by A. Lee Maddox | Published 07/02/2009 | Legal & Business Planning : Vet
Veterinarians associating with owner-doctors have become more prevalent in recent years than has been the case in the past. The number of doctors graduating from veterinary school, the increased overhead costs of operating one’s practice, the rigor of starting a practice from scratch and the increasing difficulty of obtaining total institutional financing to purchase practices are all reasons for the unbridled growth of associateships.
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Associateship to Buy in: The Importance of Written Agreements - Part 2
by Maddox and Josselson | Published 07/02/2009 | Legal & Business Planning : Vet
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Is It Time To Expand Your Hospital?
by Christine Merle | Published 09/23/2007 | Practice Management & Marketing : Vet | Office Design & Construction : Vet
Your hospital has standing room only at the reception desk...you want to offer puppy education to kindergarteners but have no place to hold the animals in your facility...you’re considering consolidating several solo practitioners into a central hospital.
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How the Entity You Select Can Protect You From Liability
by William Prescott | Published 03/15/2007 | Legal & Business Planning : Vet | Practice Acquisition & Start-up : Vet
Are you forming or purchasing a practice? Are you planning to practice with another doctor? What entity form is appropriate and what do you need to know to select the right one?
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Conducting a Proper Practice Valuation
by David McCormick | Published 03/18/2009 | Legal & Business Planning : Vet
Veterinary practice appraisers typically use methods that place an emphasis on the earnings or profitability of the practice.
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Insurance Considerations for Your Remodel or New Pet Hospital
by Jay O'Brien | Published 12/07/2007 | Office Design & Construction : Vet
There are several areas to consider that can save you future insurance dollars when you build or remodel your hospital or clinic. To realize the most savings, the time to address them is while you’re in the early planning stages!
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Positioning for Transitioning
by W. David Griggs | Published 03/18/2009 | Legal & Business Planning : Vet
Strategies for Early, Mid and Late Career Doctors.
Many veterinary hospital owners think of practice transitioning as an event that occurs at the end of their career. But with careful planning and positioning of your practice, you can find many opportunities throughout your career to enhance your profits and practice value through various transition strategies.
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The New Economy: Start Now to Improve Your Practice Value
by Nancy Willerton | Published 03/18/2009 | Practice Management & Marketing : Vet | Legal & Business Planning : Vet
You have heard it before: a healthy, well-managed veterinary practice should sell for about one year’s gross revenue. Please toss that rule of thumb out the window — it no longer exists!
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Which Ownership Model Is Right For You?
by Trey Cutler | Published 03/18/2009 | Practice Acquisition & Start-up : Vet
While the single-owner veterinary practice may be a time-honored tradition, recent years have marked a move toward multi-vet and multi-owner practices that provide more specialized services, especially for small animal practices within urban areas. Here are a few questions you can ask yourself as you try to assess what ownership model is right for you.
All practice financing is subject to credit approval. Business Refinance Program is for business term debt only. Revolving credit and existing Wells Fargo Practice Finance debt are not eligible for consolidation.
The articles and materials on the Wells Fargo Practice Finance Web site are provided for general information only and do not constitute, nor are they intended as, a substitute for consultation with accounting, tax, legal or other professional advisors. Wells Fargo makes no representation regarding the articles available in the Strategies for Success Library or the completeness or accuracy of the information contained therein. The articles and the information contained therein may be incomplete, may contain errors or may have become out of date. Wells Fargo makes no commitment, and disclaims any duty, to update any of the articles or materials in the Strategies for Success Library. The views expressed in the articles are those of the authors alone. They may or may not reflect the views or opinions of Wells Fargo.
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