Many people ask me why it matters who owns veterinary hospitals. If veterinarians can still practice good medicine, should it matter if they work for another veterinarian or a non-veterinary owned corporate group?
I strongly believe that veterinary control is crucial for high-quality care as well as an ongoing investment in veterinarians and their staff. Studies in human healthcare have shown that physician-led hospitals have higher quality. A 2011 study showed that the quality scores of the 100 best hospitals for cancer, digestive, and cardiovascular care were 25% higher in physician run than in non-physician run hospitals. The relationship was confirmed when looking at another 12 specialties.
In addition, if veterinarians do not own practices, profits do not help veterinarians pay off their debt and increase their equity. Instead, the profits leave communities and go back to people who really just want a return on investment.
Veterinarians want help with administration and management. However, I believe quality is higher AND profit stays with veterinarians when administrators and managers work for veterinarians rather than veterinarians working for administrators, whose main goal is providing cash flow for investors.
New Non-Compete Law in Washington Is a Win for Veterinarians and Veterinary Staff
The new Washington non-compete law limits non-complete clauses to 18 months and makes them illegal for employees who earn under $100,000/year.
The Importance of Why – Part Two
When businesses stay focused on the importance of “why”, they can have long term success. If the why is lost, the business loses its competitive advantage
The Importance of Why for Veterinary Hospitals
Many people ask me why ownership of veterinary groups is important. I believe that the reason and beliefs behind WHY your business was founded matter.
Understanding Competitive Advantage
Several years ago, I went to a great lecture about understanding competitive advantage. It really changed the way I thought about our business and about who we wanted to be. …
The Impact of Consolidation on Price and Quality
“Furthermore, the evidence suggests that system formation has primarily served to increase market power, not improve patient care quality or hospital efficiency, at least in the short run. ” –…
Giving Thanks for Veterinary Community
Giving Thanks for Community Thanksgiving is my favorite holiday. I love Thanksgiving because it is about coming together in community and giving thanks. It is about being grateful for hard…
Thoughts on giving to your Alma Mater: Veterinary Scholarships and Capital Projects
The Role of Veterinary Scholarships in minimizing veterinary debt A couple of weeks ago, I discussed the importance of state and federal spending in minimizing veterinary debt. State support…
Who Owns Veterinary Hospitals in Seattle?
Who Owns Veterinary Hospitals in Seattle? In June, I wrote a blog about who is buying veterinary hospitals. I looked at the size of each of the different groups…
Voting matters: The role of state and federal spending in rising veterinary debt
With the midterms fast approaching, I want to explain one reason why voting matters. No, I am not going to analyze judicial nominees and the horrors of the last two…