Thursday, February 13, 2020
8:00 – 9:30 a.m. Revenue and Profit I & II – The Importance of Revenue and How Small Changes Have Big Results - Dr. Amy Grice
Learn how to maximize your practice’s profitability and value through small changes - in your revenue, inventory management, administrative expenses, employee costs, and/or spending on facility and equipment. Explore discounting strategies and increase your understanding of how profit forms the foundation of your practice’s value. Associates as well as owners will come away with a new perspective about the business of veterinary medicine.
9:30 – 10:00 a.m. Break – Visit the Exhibits
10:00 – 11:30 a.m. Rational Price Setting - Dr. Amy Grice
Learn the activity-based methodology of setting prices through utilizing fixed costs. After a review of income statements (P&L) you will become comfortable with calculating a minimum hourly rate based on practice overhead, profit goals, and available billable hours. This presentation will create financial confidence through hands-on practice in calculating rational pricing.
11:30 – 12:30 p.m. Lunch
12:30 – 2:00 p.m. Transitions of Ownership & Valuation of Your Practice - Dr. Amy Grice
Whether you are interested in buying shares in a group practice, buying a practice outright, merging with a colleague, or are considering transitioning out of practice, this presentation will provide an overview of the process. You will learn to recognize a buyer/seller/partner that is the “right fit”, explore important considerations when admitting partners, and understand the important elements of partners’ operating agreements. The presentation will outline how the value of the practice(s) is calculated and touch on corporate acquisitions. All generations of veterinarians, from new graduates to experienced practitioners poised to retire, will benefit from the information presented.
2:00 – 2:30 p.m. Break – Visit the Exhibits
2:30 – 4:00 p.m. Communication, Difficult Conversations & Negotiation - Dr. Amy Grice
These three topics will provide an accessible understanding of the fundamentals of communicating under stressful circumstances. Beginning with a determination of the participants’ communication styles, this presentation continues with a comprehensive look at successful negotiations and finishes with a look at how to manage difficult conversations. You will gain a new comfort level with these difficult skills.