Applications are due Dec. 31 to attend a series of two, two-day intensive practice analysis workshops sponsored by the American Association of Bovine Practitioners (AABP) Veterinary Practice Sustainability (VPS).
Workshop participants will work on these things:
- 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
Presenters include Dick Lewis, veterinarian David Welch and Denise Tumblin, CPA. The March and May 2017 workshops will be centrally located in Kansas City, Mo. or St. Louis, Mo.
Veterinarian applicants must meet these three requirements:
- US citizenship
- graduated veterinary school 2007-2016
- at least 10% of their practice income from food animals
Also, preference will be given to veterinarians practicing in or adjacent to a USDA-designated Veterinary Medicine Loan Repayment Program area.
This program derives from the fact AABP's sustainability committee received a grant for more than $200,000 from the USDA National Institute of Food and Agriculture Veterinary Services Grant Program. That USDA program is intended to relieve veterinarian shortage situations and support veterinary services in the US.
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.
An application process will determine participants' eligibility for this free training. Successful applicants also will receive a $500 stipend to attend the training.
A detailed description and outline of the program, as well as an application are available on the AABP website. Applications are due by 5 p.m. (CST) Dec. 31, 2016.