Acquire a Veterinary Practice
BUSINESS IMPACT: Take the Next Step
By purchasing an existing practice, you are making money from day one. You have a staff up and ready to go, a client base, and a reputation in the community. Our experts are able to assist you with:
- Veterinary Practice Analysis and Valuation
- Tax Issues in Making an Offer on the Veterinary Practice
- Financing the Purchase of a Veterinary Practice
Whatever stage you're at in the buying process, we're here to help as your trusted financial advisor. Contact SVA today and learn how our team can help you.
BUSINESS IMPACT: Reward Profitability
Many books, professional journals, websites and blogs discuss the factors one should consider when establishing a compensation model for a veterinary practice. But the most important thing to remember is there is no one-size-fits-all approach.
To get started, SVA’s veterinary consultants can guide you through the myriad of questions related to compensation. Here are just some of the questions to consider when planning the best model for your practice:
- Should compensation be a fixed salary?
- Is it a percentage of the revenue generated and collected?
- Should it be based on profitability?
- Does it include professional services and/or over-the-counter medications and products?
- How are staff members paid?
- What about performance-based compensation?
- Should I consider length of service?
- What about training costs?
- Where do I calculate benefits into the model?
Grow your Veterinary Practice
BUSINESS IMPACT: Strategic Growth
We'll analyze your statistics related to the profitability of your practice, your fee schedules, active patient counts and doctor productivity with the goal of increasing efficiency and profitability. SVA experts have experience dealing with all of these issues and finding a model that will make your practice profitable. You'll also find that there are tax, as well as financial reporting, aspects that can directly impact your doctor productivity.
We can help you analyze all aspects of your practice through the lens of your goals. Some key factors that determine the growth of your veterinary practice are:
- Analyzing staffing and compensation to determine the right size and proper earnings for your employees
- Helping you minimize your income tax liabilities
- Assisting you to right size your overhead
Sell a Veterinary Practice
BUSINESS IMPACT: Path to Success
To get top dollar for your veterinary practice, you need to ensure that it is at maximum profitability before you sell. Before you put your practice up for sale, we can help you determine profitability by evaluating a few key areas:
- How does your office benchmark against other practices?
- Are your veterinarians producing what they should be?
- Is your overhead too high? If it's over 62% - yes it is!
- Are your fees competitive?
- Are your receivables up to date?
- Is your appointment scheduling efficient and effective?
Start your Veterinary Practice
BUSINESS IMPACT: Decide on Success
You've finished school and are ready to start your own veterinary practice, or you’re ready to branch out on your own. The hard work and tough decisions are done, right? Think again. Before you get started, there are decisions to make that will truly shape your veterinary practice path.
We will work closely with you to develop the right plan and provide continuous support. Through our countless years of experience, we know that going down this path alone can be a risk.