Practical Business Guide to Starting Your Veterinary Practice 1st Edition

Cover
Table of Contents
Title Page
Copyright Page
About the Authors
Acknowledgments
Introduction
Practical Guide to Starting Your Veterinary Practice
1 First Things First
1.1 Why … Do You Want to Be a Practice Owner?
1.2 Understanding the Pros and Cons of Practice Ownership
1.3 Industry Options Abound; Have You Considered Yours?
1.4 Self‐Assessment: Are You Practice Ownership Ready? If Not Now, Will You Ever?
2 Define Your Vision, Define Your Dream
2.1 Purpose
2.2 Value
2.3 The Importance of Clearly Defined Boundaries
3 How to Start
3.1 Healthy Habits
3.2 What’s Your Business Plan
4 Cash and Finance
4.1 Options for Financing the Practice
4.2 Steps to Become Loan‐Ready for a Startup Veterinary Practice
4.3 Working Capital
5 Starting from Scratch or Buying an Existing Practice?
5.1 Pros and Cons
5.2 Align Your Goals
5.3 Check Your Emotions at the Door – Learn from Actual Case Studies
6 Budget and Projections
6.1 Basic Understanding of Budgets
6.2 Five Steps to Budget Development
6.3 Basic Understanding of Projections and Why You Need Them
7 Building Your Team
7.1 Developing a Professional Team – Who Do You Need and How to Find Them
7.2 How to Pick an Advisor That Is Right for You?
7.3 Basics of Hiring Your Internal Team
7.4 When to Hire
7.5 Employee Handbook
7.6 Organizational Chart
8 Legal
8.1 When Do You Need an Attorney
8.2 What to Expect
9 Entity Selection
10 How to Choose Practice Management Software
10.1 How Do You Pick One?
10.2 What If There Is No Perfect Choice?
11 Financial Data
11.1 Accounting Basics
11.2 What Should You Be Looking At?
11.3 Cash Flow Issues
12 Inventory
12.1 Inventory Management Basics
12.2 How to Start
12.3 How to Delegate Inventory Management
13 What Is There to Know About Laboratory Contracts
13.1 Types of Laboratory Contracts
13.2 Key Components to Understand
14 Payroll
14.1 Payroll Schedule
14.2 Associate Veterinarian Pay
14.3 How Do You Get Paid
14.4 Payroll Related Pitfalls to Avoid
14.5 Understanding Worker by: Employee vs. Independent Contractor
15 Benefits
15.1 Timing of Benefits
15.2 Paid Time Off
15.3 Employee Discounts – Pet Care Benefits
15.4 Bonus – Incentive Plan
15.5 Pitfalls to Avoid
16 Fraud
16.1 Internal Controls
16.2 Red Flags
16.3 Detection Techniques
16.4 SOPs for Minimizing Employee Fraud
17 Marketing
17.1 Marketing Basics
17.2 When to Start
17.3 Marketing Ideas
18 The Grand Opening, Your Time to Shine
19 Congratulations, You Are Open. What Now?
Bibliography
Index
End User License Agreement