Is It Time to Sell?

October 29, 2020

Author: Trent Homec, MBA
Senior Vice President – Business Development
Pathway Vet Alliance


This is the question that many ask. When is the right time to sell my practice? The practice that I have built, in some cases, for over 40 years! Your baby, your prized possession, the business that you have put large amounts of personal capital in. The question can sometimes be elusive and very dependent on the individual and circumstances.

There is no big secret that the pet care industry continues on a steep growth curve. We survived, albeit pretty banged up and bruised, the Great Recession. We got side swiped by a great pandemic. One thing I have learned through all of this is that despite the obstacles, veterinary medicine is resilient, our hospitals teams are resilient, we are innovative and we can pivot on a moments notice to meet client and patient demands. Hats off to all that you do!

This resiliency hasn’t gone unnoticed by outside investors and as such, there is a high demand to purchase high quality hospitals. Purchase prices are at an all time high, practices owners are able to cash in on their business and in some cases re-invest into that company in order to build wealth over time and realize greater economic upside down the road.

With the demand to buy animal hospitals come many groups or companies who want to buy. It’s becoming increasingly difficult to differentiate between the dozens of companies and decide which company would be the best fit for your practice. As we all know, many companies come and go but the key is to identify a company that is built to last and is structured to provide support to you and your employees once you sell.

Feedback and Coaching and Conflict, Oh My!

Navigating the Difficult Conversation Trifecta
By: Rachel Teichberg, CVPM

I’ve watched this scene a thousand times… Dorothy and the gang anxiously making their way through the forest chanting “lions, and tigers and bears, oh my!” As they quickly skip their way along the yellow brick road, they eventually meet their lion. In practice, you come face to face with a lion daily, except yours is in the shape of difficult conversations.

All day long you have conversations with your coworkers. You chit-chat about the weekend, discuss plans for the day, ask for help with lab work, direct someone to pick up line three, follow up on those retirement party plans, and debrief about cases. All of this conversation flows seamlessly until you have a critique, a suggestion, or a problem. Just like that, communication comes to a grinding halt as you try to avoid having what you believe will be an awkward or emotional conversation.

Each time you avoid feedback, coaching, and conflict conversations you may feel like you’ve gained something in the short-term by saving yourself from feeling uncomfortable (as many people jump through incredible hoops to avoid). In the long-term, the effects of avoidance will present as low morale, low performance, low efficiency, and high turnover. All of those factors will directly affect your bottom line.

Feedback, coaching, and conflict are, in fact, three separate types of conversations and tools which can be approached in different ways to improve performance in your practice. Feedback conversations should occur between all team members, regardless of their place on the organizational chart, and are focused only on things that were witnessed by the person giving the feedback. That’s right, no triangulated communication, no gossiping, no running to the manager.

Rethinking Client Communication and Brand Awareness during COVID-19

Written By:
Alexis Wells, CVPM, CCFP- Senior Practice Coach with Veterinary Growth Partners

Employee Engagement Matters!

Written By: Julia Marlin, CVPM Director of Coaching Operations with Veterinary Growth Partners

The definition of employee engagement is the emotional commitment an employee has to the organization and its goals. It helps leaders focus on the actions that matter most to their team members. Achieving high employee engagement is an important method for driving a high-performing culture and accomplishing the goals of your hospital.

Employee engagement involves the basic psychological needs that must be met for employees to perform their specific roles well. An engaged employee “shows up,” physically, emotionally and cognitively. They are enthusiastic about what they have to do, and they naturally find ways to improve and excel. In short, engaged employees generate most of the creativity, innovation and excellence in your practice. Your employees are your greatest asset and what truly sets you apart from your competition.

How do we determine what an engaged employee is?

Gallup defines three types of employees: Engaged, Not Engaged, and Actively Disengaged employees.

Engaged Employees

  • Highly involved in and enthusiastic about their work and workplace
  • Psychological “owners”
  • Drive performance and innovation
  • Move the organization forward

Not Engaged Employees

  • Essentially checked out and psychologically unattached to their work and company
  • They put in time — but not energy or passion — into their work

Actively Disengaged Employees

Keep Talking

Communication During Unprecedented Times
By: Rachel Teichberg, CVPM

Here we are, living through an unprecedented time as the world has been turned upside down, the future is uncertain, and the tension is high. People are stressed, afraid, worried, and exhausted. Our minds are all over the place, feeling the overwhelm of information while trying to navigate this ever-changing landscape of COVID-19.

This is new territory for everyone but let me be the one to tell you: YOU’RE DOING GREAT. It may not feel like it, but I promise that you are. You’re showing up, you're minding your distance, and you’re thinking about your employees, your business and, of course, your patients. You want what’s best for everyone and that may mean making a lot of immediate temporary changes.

Be a Source of Quality Information

  During this time, your communication skills are going to have to take the wheel. I know that it may feel like communication overload these days between the news, social media, and our inbox, but it’s important to provide resources and information about COVID-19 to your team. Do not assume everyone is getting quality news from legitimate sources. You don’t need to be an expert but provide the links and resources that can help them keep themselves and their families safe. Consider sites such as the CDC, AVMA, WHO and your local VMA. Information is being updated as the situation progresses, so continue to monitor them regularly.

Boost Client Compliance with Your Online Pharmacy

By: Julia Marlin, CVPM
Director of Coaching Operations with Veterinary Growth Partners

Have you recommended products in the exam room, but the customer declines?  Then later get a fax from for the prescription food? Are you receiving a ton of prescription requests via email or fax when you could be keeping these purchases within your own practice through an online pharmacy?

If you answered yes to any of these questions, then our partner, Vetsource, is the answer to these challenges you face! Vetsource makes it possible to satisfy your clients desire for convenience while increasing compliance and the customer experience. Did you know that nearly 50% of consumers prefer to shop online and 29% are shopping weekly?  If you are not offering home delivery to your customers, they may be shopping with someone else!

Vetsource Online Pharmacy has wonderful tools that will help to increase client compliance like ScriptRight, ScriptShare, RemindMe, Autoship, and more! My favorite tool, ScriptRight is a cloud-based e-prescribing tool that allows you to set up a client for Home Delivery in 40 seconds or less, all while assuring the quality and exactness of each and every order. You can take the payment in the office or send them an email reminder with ScriptShare.


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