The Profitable Vet - by Dick Goebel & Karen E Felsted & Leslie A Mamalis (Paperback)

About the Book

"This financial management tool is intended to provide a broad basis for understanding the business side of veterinary medicine. While animal care is central to every veterinary practice, that care requires adequate medical equipment, pharmaceuticals, laboratory testing, highly skilled doctors, and personnel available and ready to treat the animal. Those assets of equipment, medications, and staff can be present only when the business is financially healthy enough to support them. This book includes chapters on understanding the most common financial statements because they reflect critical business activities. By better understanding the financial numbers and how to manage them, practice leaders can achieve business goals and ensure practice longevity. Financial performance, from growing the practice revenue to managing expenses, determines profitability. While few veterinarians entered the profession with the sole intention of making money, to remain in business, veterinary hospitals must be profitable. That profitability drives cash flow and is a critical component of business value. Practice owners must understand the factors that influence the value of a veterinary hospital. Ownership of a veterinary practice has a life cycle that often begins with the search for and purchase of a veterinary practice and ends with the eventual sale of the same enterprise. Accordingly, the essentials of practice valuation are described for use both as a management tool and a tool for pricing the practice for a potential purchase or sale. The purchase or sale of a veterinary practice is often the largest financial transaction experience in the professional life of the practicing veterinarian. An understanding of what to expect in these processes should provide a reliable guide as one anticipates the important process of ownership transition"--

Book Synopsis

"The Profitable Vet provides tremendous and accessible insight into the often overlooked financial and managerial facets of veterinary medicine." Dr. Dave Nicol

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A guide to help veterinarians, managers, and other practice leaders manage the business of veterinary medicine, this financial management tool provides a broad basis for understanding the business side of veterinary medicine. Its comprehensive scope offers insights and strategies for every stage of practice ownership.

Discover how The Profitable Vet can transform your veterinary practice, equipping you with the knowledge and tools to achieve exceptional financial success. Don't just survive in the industry-thrive with the invaluable wisdom contained within these pages.