Practice Financial Health - what it is and why it matters

This is an "intro" level session that is good for new managers, owners, future owners and students. It defines what it means for a practice to be financially healthy and the consequences of being a fixed cost business. It does have a "hands-on/participation" component where we go through the different kinds of expenses. It is an exercise that I encourage owners/managers to use at a staff meeting - if they have that financial meetings with their employees.

Here's what you'll learn

  • Attendees will understand what practice "profits" really are and why it matters

  • Attendees will learn how to do a self assessment of their practice profitability

  • Attendees will understand what it means to be a fixed cost business and the advantages/consequences of it.

Course curriculum

  • 1

    Practice Financial Health - what it is and why it matters

    • Practice Financial Health - what it is and why it matters

    • Quiz: Practice Financial Health - what it is and why it matters (Required for CE Credit)

Instructor

MS, CVA

David McCormick

David McCormick is a veterinary practice appraiser, broker and transaction specialist. Over the last 20 years he has focused on veterinary practice valuation, facilitating transactions and helping current and future practice owners reach their goals. He teaches regionally, nationally and internationally on topics such as practice value & practice financial health, buying/selling a practice, exit planning and practice ownership issues. He operates the Simmons & Associates offices of Simmons Mid-Atlantic and Simmons Great Lakes with his partner and father, Larry McCormick, DVM, MBA, CBA.