Since the beginning of the pandemic, veterinary practices have reportedly seen an increase in transactions, somewhat exposing the inefficiency of the veterinary business model. There was more money coming in, but there was also a lot more stress put on the vets and nurses. So, what are some ways tofind a good middle ground between profitability, sustainability, and work-life balance? In this second half of our two-part episode, Donna Harris, Assistant Professor at Michigan State University, and Peter Weinstein, President of Simple Solutions for Vets, give their input on this key question and more.
Listen in as Peter covers the importance of leveraging our staff and some suggestions on rethinking the way we approach the veterinary business model. Donna also explains how academic institutions might increase the opportunities for students to learn how to handle complex situations. You’ll learn some encouraging things they’re seeing in the industry, as well as their advice for any veterinarian who wants to change the veterinary business world.
Listen to the Full Episode:
What You’ll Learn In Today’s Episode:
- Ways to achieve a balance between profitability and sustainability
- Why they recommend that veterinarians focus more on finding a work-life balance
- Theories on why there is a higher turnover in the veterinary industry
- Ways to help veterinary students handle complex business situations
- Advice for veterinarians wanting to change the veterinary business world.
Resources In Today’s Episode:
- Peter Weinstein: LinkedIn
- Donna Harris: CVM
- James Yost: LinkedIn | SignatureFD
- Travis York: LinkedIn
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Disclosure: Travis York is the owner of Three and One Vet Advisors and a partner of SignatureFD. Three and One Vet Advisors is a veterinary consulting and strategic planning firm of which SignatureFD has no involvement or ownership. James Yost is a partner and wealth adviser at SignatureFD. SignatureFD is an investment adviser registered with the U.S. Securities and Exchange Commission. Three and One Vet Advisors and SignatureFD are not affiliated. Mr. York provides all non-investment advisory services through Three and One Vet Advisors. The opinions of the guests and the contents of this podcast are intended to be educational only and should not be relied upon as investment, tax, business, or planning advice. You should consult with a professional advisor prior to taking any course of action that may impact you or your business.