Larger businesses often end up distant from the values that they were originally established upon. As companies grow, it is common for decision making to become more impersonal and outcomes-based rather than values-focused. This reflects the fact that as organizations get larger, they often establish incentive and accountability frameworks that are solely outcome-based. Even if … Read moreScaling With Purpose: Avoiding “Apathy of Scale”
Good Business and Great Medicine: More in Common Than Meets the Eye I often have conversations with veterinarians who own their own businesses but claim to “not be good at business”. These are extraordinarily intelligent individuals who have mastered the challenging art of veterinary medicine yet feel intimidated by the prospect of operating their businesses … Read moreGood Business and Great Medicine: More in Common Than Meets the Eye
There are many supposed benefits of consolidation that are touted as being a reason why the corporatization of veterinary medicine might not be, at least wholly, a bad thing. Most of these benefits relate to improving the financial health of consolidated practices. At least in theory, better financial performance translates into practices being able to … Read moreConsolidation in Veterinary Medicine: Why Isn’t Patient Care Getting Better?
Veterinary medicine has gone through lots of changes over the last decade. We sit at an interesting inflection point for the veterinary industry, facing issues such as rapid corporatization and consolidation, an acute labor shortage, declining rural veterinary care access, exorbitant veterinary medical student debt, and an ongoing crisis of declining mental health within the industry. As we look back at … Read moreThe Crystal Ball Part 2: More Predictions for the Next Decade of Veterinary Medicine
The veterinary industry has enjoyed a long trajectory of growth, but never more so than in the period from 2018-22. After a strong and relatively steady bedrock Compound Annual Growth Rate (CAGR) of 5-7% in the preceding decades, pet health spending dramatically increased to a CAGR of 10.9% from 2018-22. Furthermore, that stretch can be … Read moreVeterinary Market Trends – October 2023
Dzmitry and I were thrilled to sit down with Peter Lehrman of Axial last week to record an episode of the Masters in Small Business M&A podcast. This episode gives a window into how our unique approach to partnership, as well as the values of our founding team, helps set AVP apart from other veterinary … Read moreDr. Bill and Dzmitry on Axial
Warning: This blog post talks about issues related to suicide, depression, and mental illness. Anyone having thoughts of suicide are encouraged to contact the National Suicide Prevention Lifeline immediately at 1-800-273-8255 (TALK). If you are a veterinary healthcare worker who is seeking crisis help or other mental health support, resources can be found at Not … Read moreIt’s Not Just Burnout: “Moral Injury” and How it Affects Veterinary Professionals
Antitrust laws are designed to promote fair competition and prevent monopolies and anticompetitive practices in various industries. In the United States, the Federal Trade Commission (FTC) enforces antitrust laws through the enforcement of the Sherman Antitrust Act and Clayton Antitrust Act. By ensuring that companies provide their services in a competitive and accessible manner, these … Read moreAntitrust Enforcement: More Important than Ever in Veterinary Medicine
The news has recently been dominated by the failure of Silicon Valley Bank, a financial institution whose clients disproportionately included venture capital-backed startup companies and founders. The bank’s management made irresponsible decisions regarding the investment of the bank’s deposits that limited the bank’s liquidity. When rumors of the state of the bank’s liquidity circulated within … Read moreWhat Lessons Can Veterinary Medicine Take Away from the Silicon Valley Bank Failure?
As each year passes to the next, we often set resolutions to accomplish in the new year. Whether small or large, there’s a common theme of trying to get something done this year that we wish we’d done last year: “I’m going to go to the gym more often.” “I’m going to read more.” “I’m … Read moreYou Forgot to Make an Important Resolution this New Year!