VMC, Inc. Newsletter - September 2008

mark As I write this I am sitting in a meeting room listening to Gary Glassman, CPA, present to a room full of managers at the VMC School Of Veterinary Practice Management. I love listening to Gary - he is one of a few accountants that can explain things in terms that most of us will understand. It makes me realize how important your management team is to the success of your practice.

Your management team consists of the practice owner(s), the practice manager, team leaders, practice consultant, accountant, and when necessary, a lawyer. As managers we are not CPA's or lawyers and must surround ourselves with those that have expertise that we lack. How well does your accountant interact with you and your practice? At the very least, I expect an accountant to:

1. Keep you informed of changes in financial position of your practice

2. Keep you in compliance with state and federal regulations

3. Help your practice to reduce its tax liability

4. Help the owners of the practice in the area of personal financial planning or at least make sure this need is being met by a financial planner or a CFP (certified financial planner).

So how well did your accountant do in these areas? If the accountant is not doing what he or she should, talk to them and see if they are competent and willing to do so. Developing an effective management team is essential to the success of your practice.

Back to the VMC School, next on the agenda is Personnel Management and Sheila and I get to work with the students on that. Best wishes to you on your continued success.

Mark Opperman
President, VMC Inc.

Let us hear from you - tell us what you'd like to see in future issues. You can contact us at vmc@vmc-inc.com

Hiring Associates and Practice Managers - Is There a Catch?

by Sheila Grosdidier, BS, RVT

sheila

It is common practice in the Veterinary field to create a contract upon hiring an Associate or a Practice Manager. This contract explains the expectations of the practice regarding basic duties of the employee and the wages and benefits the employee will receive. It also should include a confidentiality clause to protect the practice from the employee divulging information about the practice's clients or finances or any other confidential or proprietary information from the practice. The contract, if state laws allow, also includes a non-compete agreement to protect the practice from a former employee owning, managing or being employed by another veterinary clinic within a specific distance of the clinic for a specified length of time.