The American Association of Bovine Practitioners (AABP) Veterinary Practice Sustainability (VPS) committee has received a grant for more than $200,000 from the USDA National Institute of Food and Agriculture Veterinary Services Grant Program (VSGP). The VSGP is intended to relieve veterinarian shortage situations and support veterinary services in the United States.
AABP plans to use the grant to fund veterinary practitioners to participate in a series of two, two-day intensive practice analysis workshops a year apart. For the 2017 workshops, application requirements include U.S. citizenship, veterinarians who have graduated veterinary school from 2007-2016, veterinarians with at least 10% of their practice income from food animals, and preference will be given to veterinarians practicing in or adjacent to a USDA-designated Veterinary Medicine Loan Repayment Program area.
Presenters include Dick Lewis, Dr. David Welch and Denise Tumblin, CPA. The March and May 2017 workshops will be centrally located in Kansas City, Mo. or St. Louis, Mo.
At the workshops, participants will:
· Learn to analyze practice cash-flows to determine profitability and identify trends
· Use value proposition concepts to identify and assess current and future client needs
· Use partial budgeting to gauge cash-flows, and establish timelines
· Forecast to predict how cash-flows may change with new or existing services
· Learn about practice valuation for sale or transition
· Learn about practice acquisition financing
· Network with peers about opportunities and experiences
Workshop attendees will be required to participate in pre-workshop assignments and conference calls, and will be asked to provide their practice financial data in order to obtain individualized analysis and training for their specific situation and needs.
“Veterinarians are highly trained scientists who have tremendous abilities to diagnose and solve problems,” says workshop coordinator and instructor Dr. David Welch. “Unfortunately, we often neglect the health and well-being of the very business we depend on for a living. These workshops provide valuable, easy-to-apply practical tools that can improve the profitability and sustainability of rural veterinary practices."
An application process will determine participants’ eligibility for this free training. Successful applicants will receive a $500 stipend to attend the training.
Find a detailed description and outline of the program, as well as an application, at http://aabp.org/next_gen/. Applications are due by 5:00 p.m. (CST) December 31, 2016.
AABP is a membership-based, not-for-profit organization serving cattle veterinary medicine professionals across the United States, Canada and other countries. Visit www.aabp.org.