Category: Opinion

  • Corporate vet school

    Corporate vet school

    The announcement of a corporate veterinary group’s collaboration with the new Keele University/Harper Adams veterinary school struck a few chords, and seemingly opened a figurative can of worms that (like their literal parasitic counterparts) just doesn’t sit well in my gut.

    A few points to consider here, the first of which I have written about before, although not about this particular arrival on the vet school scene.

    More vet schools needed?

    Do we need more vet schools? The short answer, in my opinion, is no. The employment crisis in the veterinary industry as it stands is multi-faceted – pluck a reason out of the air and it almost certainly has some impact on why practices are begging for vets:

    • compassion fatigue
    • poor working conditions
    • work-life balance
    • salary
    • lack of long-term prospects
    • Brexit
    • client pressure
    • under-supported young vets

    I could talk about any one of these reasons at length (and have done), but, for the purposes of discussing the above gem of veterinary news, I will focus on the last point: support for new graduates or young vets.

    Vicious cycle

    circle
    “This lack of support leads to high stress levels, young vets becoming fed up and looking elsewhere for a different career that provides them with the mental stimulation they desire, but with better support, hours and pay to go with it.” Image © Michael Brown / Adobe Stock

    Some practices are excellent at providing a nurturing environment for young vets, but many are not and often not through any fault other than lack of staff.

    This lack of support leads to high stress levels, young vets becoming fed up and looking elsewhere for a different career that provides them with the mental stimulation they desire, but with better support, hours and pay to go with it – thus the vicious cycle of extremely talented young people leaving the profession after a few years begins.

    Problem solver?

    Will opening more vet schools help the staffing problem? No. It is a short-sighted, temporary solution to fill a gap nobody seems to be able to plug. But the more graduates that accept jobs from practices who ideally wanted an experienced vet and can’t source one, the worse the retention problem will become. It is unfair on both parties to take on a new grad if a practice does not have the resources to sufficiently train and help them through their first few years.

    To solve the retention problem, the profession needs to improve working conditions and encourage vets to stay, not just find more avenues to farm out new grads to try and bridge the gap.

    Are corporates good for the profession?

    I could (and probably will) discuss corporates at great length, but there is no clear answer for them being good for the profession. Having been stung with the sore end of the corporate tail once before, I’m inclined to say no, but that would be based on my experience of one particular practice. Conversely, I have colleagues who work for corporate practices that seem to be very well run and provide a great environment for learning.

    My opinion is not fact and, to keep it short and sweet, is summarised below:

    • The idea behind corporate practices is often well meaning, but does not always work when put into practice. For example, the graduate schemes sound great, but only work if they are implemented correctly on an individual practice level.
    • Some corporates are extortionately priced compared to independents – there is a fine line between charging appropriately and taking the biscuit. This is likely exaggerated because many independents have been selling themselves short for years; however, it is not okay to triple prices in a week when an independent practice is taken over. All it does is feed the myth that vets are only in it for the money.
    • Long-established corporately owned practices seem to have better client satisfaction than practices newly acquired under a corporate brand as the shock of takeover, staff changes and price increases are long gone.
    • Corporates aim to provide better working hours (a four-day week, for example) and flexible working patterns, but, again, this varies on an individual basis.
    • The hand of many partners in independent practice has been forced as the profession continues to change. Young people do not have the disposable cash to buy into partnerships, as was the tradition. Corporates have taken advantage of this by buying out those wishing to retire without any new blood coming through.

    Corporate practices can vary wildly even within the same group – much of it comes down to the individual practice, as with independents. As much as corporates offer many benefits with their nice shiny contracts, many independents match or better these. Likewise, an independent or corporate practice can be an equally catastrophic place to work in if managed badly at the practice level.

    Now, to the elephant in the room…

    Should a corporate group be running a vet school hospital?

    Is a corporate running a vet school hospital any different from the outsourced rotation format of the other newest veterinary schools – Nottingham and Surrey – whereby they have no on-site university clinic, but rotations are undertaken in nearby hospitals?

    nocash
    “The hand of many partners in independent practice has been forced as the profession continues to change. Young people do not have the disposable cash to buy into partnerships, as was the tradition.” Image © MHChristine / Adobe Stock

    The concern with new veterinary schools popping up and proposing this sort of final-year teaching is the associated practices are then less available to provide EMS placements for local students. The purpose-built corporate hospital that is to be partnered with the new veterinary school avoids this particular hurdle in part, at least (there’s no mention of an equine hospital or farm clinic), but is it still a good idea?

    Remaining impartial

    It comes down to whether the corporate presence is going to be ingrained into the teaching. Will the graduate scheme offered by the group be heavily recommended? Would the business structure and branded drugs be taught to the students?

    At university, we were always told to learn drugs not brand names to remain impartial. Would that impartiality be maintained appropriately in a hospital that uses own-branded drugs and whose bigwig advisory boards dictate which products should and shouldn’t be offered?

    Encouraging research into all available treatment and diagnostic options is a key aspect of learning and practising evidence-based medicine on rotations.

    Familiarity breeds

    Even if no direct corporate emphasis exists, surely the undercurrent is going to sway the students into applying for jobs in sister practices under a graduate scheme.

    As a new grad, you are bewildered by everything and getting a heads-up on even the smallest of obstacles can make a huge different to your day in the first few weeks. Therefore, simple things, such as the practice management system used in every practice the group owns, may be enough to sway the decision between accepting one of two jobs, simply because using a system you’ve gotten used to on rotations will make your life that bit easier during day-to-day practice.

    Conclusion

    It remains to been seen if a corporate partnership with the new vet school will be a success for the students under their care and the profession as a whole, and I’ll withhold judgement for now.

    However, with predictions corporate takeover will saturate at 70% of practices in the profession, it is undeniable the veterinary landscape is moving further adrift from its once independent roots as the corporate giants continue to tighten their grip.

  • An unrecognised reliance on technology

    An unrecognised reliance on technology

    It’s surprising how much we rely on the internet and associated technologies. In fact, you don’t quite realise how much it helps until you find yourself without it.

    I experienced a weird widespread internet fault. I’m not sure if it was localised to to my geographical area, but, for a few hours, neither my mobile data would work on my phone or the internet on the practice computers (although I’m not sure if they were just being their usual painstakingly slow dinosaur selves) – even the clients were commenting there seemed to be a data blackout.

    Regardless, it made my consulting morning surprisingly more challenging.

    First appointment

    Repeat aglepristone injection for mismating

    I go to check the protocol as I know the timings are different to when given for pyometra. The BSAVA app crashes four times on opening before I accept defeat and find a bound copy of the formulary.

    I then realise things are listed by drug name rather than brand name and draw a blank. I try to open the NOAH website on the consult room PC, but this inevitably crashes the internet browser. Of course it does.

    Suddenly the name aglepristone is dragged from the depths of my brain and I leaf through the formulary once more. That wastes nearly the whole appointment time before I even manage to find the drug, draw it up and give it.

    Second appointment

    "When your consults are only 10 minutes, that extra couple of minutes in each one adds up and very quickly I found myself getting behind, and, therefore, more stressed." Image © WavebreakmediaMicro / Adobe Stock
    “When your consults are only 10 minutes, that extra couple of minutes in each one adds up and very quickly I found myself getting behind, and, therefore, more stressed.” Image © WavebreakmediaMicro / Adobe Stock

    Potential re-admit from the previous day

    The computer freezes while trying to print consent forms. Luckily it’s a fairly straightforward admit for fluids/treatment and the client knows the drill. I hand over to the ops vet and leave her to work out doses.

    Third appointment

    A transfer from the out-of-hours provider

    After skim reading the long history (that consists mainly of numerous phone calls back and forward as to whether the owner could get the collapsed dog in the car), I finally get to the point and call the client in.

    The dog is bouncing and back to normal, apart from a stonker of a heart murmur. Cardiology is not my strong point and after a lengthy discussion about starting medication, and much faff flicking through the compendium trying to remember various side effects, I manage to convince them to trial medication.

    Fourth appointment

    Vaccination

    Yay, no formulary needed.

    Fifth appointment

    Medicine check

    One client thinks her dog has gained weight since being prescribed a particular medication. I highly doubt this is the cause of weight gain, but say I will quickly (or not so) check the data sheet.

    I reach for the NOAH Compendium (when I manage to locate a paper copy) rather than the formulary, because I can’t for the life of me spell the active ingredient. On skim reading the page, can’t find anything about weight gain or appetite, but it’s not as clear cut as the lovely “clinical particulars” or “contra-indications and adverse reactions” tabs on the website. I close the book.

    The client seems to be in a rush, but wants to discuss lowering the dose (are you serious? Could you have not said that while I had the page open?). I flick through and eventually find the page again, and work out the dose as they’re practically running out of the door.

    Sixth appointment

    Pregnant bitch

    The owner asks about worming and once again I leaf through the compendium to find the protocol, only to realise we don’t have that formulation in stock.

    Of course I’ve shut the book – but, before I find the right page again, one of the fantastic receptionists has materialised a bottle from somewhere and is flashing the data sheet in front of me for reference.

    Seventh appointment

    NOAH's 2018 compendium
    As she had no internet, Jordan turned to the NOAH’s Compendium for guidance, with varying results.

    Dog bitten by a ferret

    Small wound, possibly infected, but the dog is very wriggly. I prescribe Amoxyclav – one of the few things I instinctively know the dose of – and meloxicam (definitely no books required to work out that dose).

    Eighth appointment

    Puppy diarrhoea

    Can you give young puppies probiotic paste? Back to the book…

    It’s not listed in the compendium, and the box doesn’t indicate a minimum age – normally I would check the product website… Sigh. I search for the other vet to ask what feels like the 100th stupid question today. So it went on…

    No time to lose

    The point is, I didn’t realise quite how much using the internet on my phone sped up my consults. A 10-second search on an app turns into a couple of minutes leafing through a book for a drug dose. When your consults are only 10 minutes, that extra couple of minutes in each one adds up and very quickly I found myself getting behind, and, therefore, more stressed.

    I can’t retain numerous drug doses in my head – or at least don’t trust myself to rely on memory for many of them except the most common ones – so maybe this dependence on technology is more of an issue for new grads than more experienced vets who seem to be an encyclopaedia of drug doses.

    I was thankful this hadn’t happened on a large animal day – as someone with a terrible sense of direction, I would definitely have been stuck in the middle of nowhere with no Google Maps to get me home.

  • Choose your own path

    Choose your own path

    Life doesn’t come with a manual, more’s the pity. How much easier would it be if we were automatons, told exactly where to go and what to do? No big decisions to be made or uncertain futures to be faced.

    But then, there wouldn’t be any adventures either. With no guidebook, we have to choose our own career (great choice, by the way) and chart our 
own course.

    You can read all about people navigating their own futures in this edition; from the nurse set to become a social media star to the RVNs behind Kent’s newest veterinary 
nursing school.

    Indeed, education is a wonderful gift that keeps on giving, long after we have left our school days behind. Noel Fitzpatrick, aka “The Supervet”, discusses this very notion, and how it could tackle the retention crisis.

    Seize opportunities

    As you will hopefully see from the July issue of VN Times, opportunities are all around you; whether you want a fresh start, to take on a new role or help others on their journey (see opposite page for an inspiring mentor-student story).

    You have the freedom to choose your next move, whatever it may be.

    The poet Erin Hanson wrote: 
“And you ask, ‘what if I fall?’ Oh but my darling, what if you fly?”

    What if, indeed…

  • How to survive your first weeks as a new grad

    How to survive your first weeks as a new grad

    You’ve done it – five long years of hard work and study have paid off and you’ve graduated as a fully fledged vet. Welcome to the veterinary community.

    And it is just that – a community of people who’ve all been there and had a first day as a vet. You’ll find that everyone (meaning more senior vets than you, which is basically any vet) is happy to offer what I consider “well-being” advice, such as “don’t be too hard on yourself, you will make mistakes” or “don’t be afraid to ask if you don’t know”.

    Now, while this sort of advice is true, I don’t think it’s practically helpful for getting you through those first few weeks. No matter how much positive encouragement you receive from other vets, you will probably still be terrified for your first day/week/month.

    Practical advice

    "Familiarise yourself with the drugs in the dispensary. At uni, you learn drug names, now you’re in practice you will have to learn the brands."
    “Familiarise yourself with the drugs in the dispensary. At uni, you learn drug names, now you’re in practice you will have to learn the brands.” Image © JackF / Adobe Stock

    Having been there only a year ago, I have some practical tips and tricks to help get you through the day during those first few weeks:

    In-practice consultations

    • Make sure you know where things are kept in the consult room, so you don’t have to open every drawer in front of the client to find the syringes on your first consult.
    • Likewise, familiarise yourself with the drugs in the dispensary. At uni, you learn drug names, now you’re in practice you will have to learn the brands.
    • Make a note of the vaccination protocol used at the practice and the most common recommended flea/worm treatments (such as those on the pet health plan, if your practice has one).
    • Note down anything you may want to look up quickly, particularly premed doses. Depending on how your practice works, nurses may draw up premeds and have vets check before giving them, which can sometimes just be a waft in the vet’s direction for assertion – don’t panic and agree just because you don’t know what the dose is off the top of your head.
    • Keep a health plan or puppy/kitten package leaflet handy for when clients ask about them.
    • The stethoscope is one of the most useful tools for allowing yourself time to think without the client bombarding you with questions.
    • ALWAYS leave something essential outside of the consult room (a thermometer, fluroscein or tear test strips, for example). This gives you an excuse to leave the room have a flick through a book or ask another vet (don’t do it too many times in one consult).
    • If it’s something you want another vet to look at, most owners respond well to getting a second opinion. Alternatively, take photos “for comparison” then go and show another vet (be careful here – you need permission from the owners and check your practice policy regarding GDPR. You may be okay to use a work phone/camera, but not a personal one).
    • If you want to remove the animal from the owner – either to get another vet to look or for thinking space – ask if you can go and get a nurse to help restrain.

    Being on-call/farm visits

    • Open things before your first equine/farm visit (gloves, lube, etc) to avoid awkwardly trying to rip open boxes while the farmer is waiting.
    • Save dropped pins on Google maps or your satnav for your main farms or big equine clients. Again, work within GDPR, which may only allow this on work phones.
    • Make a cheat sheet for the car detailing drug doses for the most common things you use on farm – to avoid the inevitable mind blank resulting in an inability to do simple mental maths while staring at the bottle of Pen and Strep with the farmer staring at you. I made one for a 300kg/500kg/750kg size horse for quick reference.
    • If you need to call a colleague for advice while on farm, make an excuse to go back to the car. I would go to examine the animal first with minimal kit (just a stethoscope, for example) then, if necessary, make a call when I had to go back for a thermometer or relevant meds.
    • Make a note of who to contact regarding out-of-hours, door codes and alarm codes – and make sure you have practice keys.
    • Be prepared to be tired. It doesn’t last forever, but working as a vet is very tiring to begin with – don’t make too many plans for week nights or weekends for the first couple of weeks to allow you to relax when you get home.
    • Plan easy, quick meals so you don’t end up ordering a takeaway every night.

    General advice

    • Have a pocket-sized notebook and pen at all times, and hold on to that pen for dear life. Pens have a habit of wandering in vet practices.
    • Take a look at one of my previous blogs on language (Fake it ’til you make it) for some handy phrases to help assert your ability when you don’t really have a clue what’s going on.
    • "Plan easy, quick meals so you don’t end up ordering a takeaway every night."
      “Plan easy, quick meals so you don’t end up ordering a takeaway every night.” Image © serguastock / Adobe Stock

      Have a couple of books handy for quick reference when you need a memory jog. I use 100 Top Consultations in Small Animal General Practice and Gerardo Poli’s The Mini-Vet Guide for small animal, but I hear good things about the “Nerdbook” as well. For equine, I find the Handbook of Equine Emergencies great for quick reference on the go, along with the Saunders Equine Formulary.

    • Make lunch in advance to start with. It may be that you always get a lunch break, but sometimes things are manic, so ensure you have food to keep you going.
    • Take part in any work social activities and get to know your team – it will make the working day much more fun if you get on with those around you.
    • Book a holiday for three months time. You will need it.

    Handy resources

    Make use of the vast range of apps and websites out there. Here are some I found really helpful:

    • BSAVA app for the formulary (it’s quicker to search drugs than flicking through the paper formulary).
    • BEVA apps – which features drug doses, certain procedures and joint blocks.
    • NOAH Compendium – there isn’t an app (at the moment), but the mobile version of the website works well. Open the NOAH website on your computer before a consulting session starts – practice computers are notoriously slow and I guarantee it will freeze when you’re desperately trying to do a quick search for doses while the client is waiting.
    • Norbrook app – for drugs not on NOAH.
    • BHA Vaccination Date Calculator for horses saves a lot of time when working out vaccine validity.
    • MSD Vet for the Merck manual.
    • Vet Calculator for various calculations, particularly the heart rate counter.

    While the word “survive” carries negative connotations about veterinary practice (and I have previously discussed how this sort of language can be harmful), I do think you feel like you’re firefighting in those first few weeks.

    There’s no doubt it is a steep learning curve, but I’m confident you’ll come out the other side and thrive on the challenges of being a new grad.

    Good luck and enjoy finally being able to say you’re a vet.

  • Embrace change

    Embrace change

    Change can be scary. But it can also be exhilarating, liberating and exciting – and it happens all the time.

    By the time you read this, for example, Harry and Meghan will have made one of the biggest changes possible by embarking on married life (read how some homeless hounds marked the occasion on page 1 of June’s edition of VN Times).

    Closer to home, plans to open the UK’s ninth vet school in 2020 have been given the green light (page 1) and it is anticipated the collaboration between Keele and Harper Adams Universities will foster strong relationships between vets, RVNs and animal care professionals from the start.

    Dare to dream

    Effecting change or undertaking a challenge takes strength and bravery – from creating a district VN conference (page 2) to volunteering abroad (page 2). Yet daring to dream pays off, as you will see in the pages that follow. For my part, becoming VN Times editor is a big change, but a dream come true, and I am honoured to be penning (or rather, typing) this foreword.

    I have long admired the profession and am constantly inspired by, and in awe of, your dedication and commitment – not only to animals you care for, but owners, colleagues and people outside the veterinary sphere, who you help in so many ways on a daily basis.

    Danny Kaye once said: “Life is a great big canvas; throw all the paint you can at it.” I invite you to use this magazine as your own canvas to share your news, views and ideas.

    Wonderful things occur in the profession every day – from fund-raisers and scientific breakthroughs, to personal achievements and team victories, and I, for one, cannot wait to hear all about them.

    So, as we step into the future together, I urge you to be proud of who you are and what you do, and embrace change. Exciting times are ahead, and who knows? Perhaps the best is yet to come…

  • Buying or selling a vet practice, part 4

    Buying or selling a vet practice, part 4

    Last time, we looked at some practical steps to be taken running up to completion (pre-closing) and completion itself. This week, we will look at some of the softer skills that may be required post-completion – particularly if you are a buyer or seller who has an ongoing retained role in the business.

    For the acquired business – and those involved in it (whether employees or sellers with a continuing role) – the period immediately following completion will inevitably result in change of some sort, and require a degree of adaptation.

    Business as usual

    If you are a seller with a continuing role, clear communication with employees, suppliers and customers to avoid undue worry and disruption to operations, along with reassurance it is “business as usual” (if your role permits that), will go a long way to ensuring a smooth transition.

    For the buyer, managing reactions to that change in a positive manner in the period immediately following completion will be key to the long-term success of the acquisition or merger.

    It’s often said the first 100 days following an acquisition or merger is the most critical period, during which time the confidence of staff should be won, customers contacted and reassured, and systems integrated.

    Hands on or off?

    Generally, if former management have a retained role in the business (even if only for a few months), the integration phase will, of course, be much easier.

    Otherwise, a hands-off approach from a buyer, without a physical presence within the business for the first few months, could have a negative effect on the business, from which it could be difficult to recover.

    Calendar.
    It’s often said the first 100 days following an acquisition or merger is the most critical period. Image © gazanfer / Adobe Stock

    Large consolidators will very likely have a well-tested integration plan, which can be rolled out, but others should carefully plan for integration in advance of completion.

    Given concerns customers might have following a sale, some integration plans of consolidators will involve not informing customers of the sale until some later.

    It can often be easier to allay fears of change when people realise the change occurred six months ago and they haven’t noticed any difference in service.

    Secret to your success

    In short – and this may sound cliché – but success comes down to the people in the business – particularly for a veterinary practice – and how they integrate in to the new model immediately post-completion could be what makes a transaction successful.

    As a final thought, two top tips to keep in mind include:

    • Buyers: have a plan prepared in advance of completion for the integration.
    • Sellers with an ongoing role: enjoy your new position as either an employee or consultant without the burden of being a business owner. Otherwise, enjoy retirement.
  • Being a millennial vet

    Being a millennial vet

    Millennials are stereotypically considered lazy, entitled and always wanting something for nothing. And having previously discussed the many advantages of employing new graduates (and, therefore, millennials), this sort of labelling angers me.

    The choices our generation makes are not due to lack of work ethic and naiveté about the future, but rather a reflection on the hand we have been dealt by society.

    Recent statistics show the average baby boomer had to save for 3 years for an average-sized house deposit in comparison to the predicted 19 years it would take for millennials to do the same. By the age of 30, the number of millennials still renting is double that of their predecessors in “Generation X”.

    At my age, my mother owned a house, had her first child (yours truly) and had been married. I can’t even comprehend the possibility of being able to afford one of those things at this stage in my life, let alone all of them.

    We may prioritise our meagre disposable income in different ways, but, despite all the jokes, our love of avocados and lattes are not the reason we can’t afford to get on the property ladder. (For the record, I can’t stand avocado).

    Unyielding abyss

    AdobeStock_119083745-web
    It is excruciatingly impossible, says Jordan, to save enough in today’s financial climate to even consider a house deposit. Image © zimmytws / Adobe Stock

    It is excruciatingly impossible to save enough in today’s financial climate to even consider a house deposit, while pouring money into the unyielding abyss of renting.

    One of the biggest snags in the rental black hole is the deposit and associated agency fees. Shortly after leaving university, I had to magic £1,500 out of somewhere to rent a place close to my first job (and that’s a lot when your bank account hasn’t been above zero since you started uni).

    Six months after that, I was faced with having to do the same again because I quit that job.

    As vets, we bang on about being happy, having a supportive first job and leaving if it’s not right. That’s all very well, but what if you’re trapped financially?

    I didn’t give much thought to my financial situation at the time because I was too unhappy to carry on. While I think it was ultimately the right decision for my mental health, I would carefully consider my situation before doing it again – two months of no salary left me in a very vulnerable position, and if it had been much longer, I would have been in serious trouble.

    Luckily, I was offered accommodation for my second job, which was an enormous help, taking the burden of having to find a deposit again off my mind. This is one of the benefits of being a vet as a millennial – very few other jobs would offer a house as part of the package.

    If you have to repeatedly uproot and keep forking out for rental deposits every time your circumstances change, it’s easy to appreciate how quickly you can find yourself in a mess.

    And for me and my classmates, this is while holding down a respectable job with supposedly “good pay” for someone of the same age. But is the pay all that “good”?

    Non-vet friends

    My non-vet friends earn varying amounts dependent on their careers or jobs, but these certainly include plenty of non-professionals earning far more than me. However, multiple factors need consideration here.

    Those who didn’t go to uni have six years of “work experience” and climbing their respective career ladders more than me. Those who did go to uni have a two or three-year head start, which is significant in certain industries.

    While it’s understandable they have had more time to progress in the world of work, that doesn’t entirely quieten the resentment at having put so much money, blood, sweat and tears into a professional degree without the remuneration to reflect that.

    And while we may have a decent starting salary in comparison to other graduate roles, we are very quickly overtaken.

    The ceiling salary of the GP vet is a much-discussed topic, with an increase in salary seen early on, but thereafter very little difference is seen, despite further years of experience. In the current financial climate, the traditional partnership route becomes less and less tangible for the millennial veterinary graduate.

    I struggled to be approved for a credit card, and with the very real possibility of never owning a house, I wouldn’t dream of asking for a loan for the kind of money needed to buy into a practice – and I think I’d be laughed out of the bank if I tried.

    For my generation, the type of career, and therefore salary progression, is just not what it has been for previous generations.

    Enjoy life in present

    Perhaps this is why we value work-life balance more than our predecessors – for them, they worked hard in their early careers because there was a light at the end of the tunnel, being partnership.

    Many of my millennial colleagues don’t even consider that as a possibility, with many of us not really knowing what we want to do long-term career-wise, and so we take each day as it comes, not just trying to survive, but striving to enjoy life in the present.

    Old mini.
    Millennials are all in the same boat – still young adults driving battered cars with bleak property-buying prospects. Image © Deyan Georgiev / Adobe Stock

    It deeply upsets me that vets are still perceived as rich money-grabbers. I am not a rich vet, I’m just a millennial, struggling to make headway in an economy set up to put young people on the back foot.

    The difference between me and my desk-bound friends, however, is I have the privilege to do a job that I love, and while it comes with all manner of stress, it’s worth it for being able to care for someone else’s beloved pets.

    At the end of the day, though, millennials are all in the same boat – we’re still young adults driving battered cars with bleak property-buying prospects.

    We didn’t choose to inherit this situation. We’ve drawn the short straw in the birthdate lottery, so all we can do is live the millennial lifestyle and enjoy our lattes and avocados.

  • Buying or selling a vet practice, part 2

    Buying or selling a vet practice, part 2

    In part one of this blog topic, we looked at the first phase in the buying/selling process (pre-due diligence). In this post, we‘ll look at the next two stages – due diligence and deal documentation.

    Due diligence

    In essence, due diligence is the process where the potential buyer takes a very close look at the practice it is thinking of buying. It will be keen to make sure it is getting what it expects and that no nasty hidden surprises are lying in wait that will reduce the value of the business after completion of the purchase.

    The process itself is likely to involve the business owner’s advisors setting up a “data room” where the key information the buyer has asked to see is provided. These data rooms are now frequently online – essentially, file sharing sites.

    Compiling information for a data room can be a very time-consuming process, and the more organised the practice owner is, generally the easier this process will be.

    Usually during this process the owner doesn’t want too many employees knowing about a potential sale. This can impact the information gathering, often putting a greater burden on the owner.

    It is, therefore, usually worth considering bringing some key colleagues into the process to help ease that burden (it is only so often you can use the excuse “the auditors need the information”).

    Due diligence tips

    Some key points to bear in mind for a business owner during the due diligence phase are:

    • Always have robust confidentiality agreements in place with the buyer. But remember, if any sensitive, confidential information exists that could significantly disadvantage the business if the buyer doesn’t buy it, don’t disclose it to the buyer until you are happy a sale is very likely.
    • Don’t try to hide any “skeletons”. Trust is very important to buyers; if they think they can’t trust you, a real risk exists of the deal not proceeding or the due diligence becoming much more detailed and prolonged than it might otherwise have been.
    • Having clear lines of communication and responsibility mitigates the risk of detrimental issues and later potential disputes arising.
    • Know what you are passing across. If any “skeletons” exist, make sure you know you are passing across a “skeleton”.

    Documentation

    Assuming due diligence has progressed well, the buyer will then move to producing the first drafts of the main deal documents.

    Depending on timescales (and the buyer’s confidence it won’t uncover any nasty surprises) the documentation is often produced at an early stage in the due diligence process, so negotiation of the documents can take place while due diligence is ongoing.

    In most cases, it is going to be the buyer’s lawyer who produces most of the deal documents.

    Documentation tips

    Key points to bear in mind during the documentation phase are:

    • Don’t underestimate just how much documentation is required and how long it might take to agree. The main document is, of course, going to be the acquisition agreement, but ancillary documents (particularly those that rely on third party consent, such as banks, landlords or other funders) can play a very important role. Failing to address issues arising in relation to these documents can have a dramatic impact on the timetable.
    • If possible, you (and your advisors) should avoid negotiating key documents at the last minute – preparation and planning is critical to avoid this. A detailed timetable and responsibility list should be prepared – and adhered to wherever possible.
    • When appointing advisors, it is worthwhile asking them for a list of documents likely to be required. This will give you an idea of what is likely to be involved and may also indicate to you how experienced your advisor is in relation to disposals or acquisitions of businesses.
  • Supporting new grads: are you up to the job?

    Supporting new grads: are you up to the job?

    As I discussed in my previous blog post, if you are a boss, partner or practice manager, it’s important to consider whether your practice is suitable for a new graduate, before taking one on.

    Perhaps you’re considering taking on a new grad for the first time, or maybe you’ve employed them before, but are struggling to attract candidates for your job vacancies – or it might be your new grads are leaving you after a short spell of employment.

    If any of these apply, or you’re simply looking for inspiration on what you could do to offer support to new grads, I’d like to offer some suggestions from the new grads themselves.

    Friendly face of support

    Every new graduate looks for “support” in his or her first (or, in my case, second) vet role, but what exactly does that look like?

    By far the most important aspect of support is communication – we’re all different, and the key to a great working relationship with a new grad is asking him or her the kind of support wanted or needed, and discussing how you can provide that.

    This should also be considered a fluid, flexible conversation that continues through the first few months of employment – the rate at which a new grad gains confidence and experience will vary due to individual personalities, but will also greatly depend on caseload.

    Vet and assistant.
    Being patient, friendly and answering questions are all important when dealing with a new grad. Image © .shock / Adobe Stock

    Never assume

    If your practice doesn’t see many cats, your new grad’s first cat spay might not happen for several months, and you can’t just assume having performed a lot of other surgeries, he or she will be fine to just get stuck in, when he or she may never have used a flank approach before.

    On the contrary, some new grads can be dangerously over-confident, and that’s where your clinical and character judgement will be vital in ensuring the safety of their patients.

    It can be a very delicate balancing act between pushing a new grad to improve, and not letting him or her charge in all guns blazing without the right skills.

    Suggestions

    The answer is not straightforward – no “one size fits all” new graduate induction plan exists – but a number of areas can be considered to help your new grad settle in.

    I’m not suggesting you action all of them, or even that they’d all be suitable for every new grad or practice – they’re just ideas to think about.

    • Provide a booklet with practice protocols – for example:
      • vaccine protocol
      • neutering advice (ages)
      • treatment protocols for common ailments (as a starting point)
      • what should be included in estimates for operations
    • Order uniform or name badges and have them ready for the first day. It may seem trivial, but it symbolises being part of the team. Being asked 10 times a day who you are, or “are you new here?” gradually chips away at what little confidence you have as a new grad.

      Woman with folders and badge
      Ordering a name badge for your new grad can help him or her feel part of the team. Image © kegfire / Adobe Stock
    • Have him or her spend a morning on reception to learn how to book appointments and other tasks, to get used to the computer system.
    • Put a nurse or receptionist in consults with the new grad to help him or her navigate charging for consults, saving notes, making up estimates and so on.
    • Have the new grad observe some consults or accompany other vets on call-outs to help him or her grasp how the practice runs and to introduce some of your regular clients.
    • Allow the new grad to pick up consults from a general list at his or her own pace.
    • Book out double appointments for the new grad initially, then shorten these as he or she gets more confident – and, therefore, faster.
    • Always have a more experienced vet available (in the prep room, perhaps) to answer those quick questions while the new grad is consulting. He or she need not be twiddling his or her thumbs, but, if performing procedures, ensure your new grad knows he or she can pop in and ask without feeling like an inconvenience.
    • Decide on a maximum length of time for a consulting block and allow breaks for the new grad to catch up or have five minutes to gather his or her thoughts.
    • Assign a formal buddy or mentor within the practice (not the boss) for him or her to go to as a first port of call for any problems – clinical or non-clinical.
    • Provide regular constructive feedback – we don’t know if we’re doing okay unless you tell us!
    • Have formal scheduled progress review meetings to let the new grad discuss any issues in a fair manner (the boss informally asking “how are you doing?” in front of half the staff will not always elicit an honest response).
    • Have a working list of procedures or cases your new grad wants to gain experience in so all staff know to try to involve him or her if they get one in. Similarly, have a list of procedures he or she is happy to do alone (and an expected timescale) so reception staff don’t book in three bitch spays on day one.
    • Supervision for operations – ask your new grad whether he or she wants someone scrubbed in, either in the same room or just within shouting distance, for different procedures.
    • Have goals for the new grad to work towards without pressurising him or her.
    • Show the new grad respect. Don’t undermine him or her in front of clients, even if he or she is in the wrong – better ways of addressing it exist without shattering the new grad’s confidence and credibility.

      Vets talking.
      Assigning your new grad a buddy or mentor can help as a first port of call for any problems he or she may encounter. Image © michaeljung / Adobe Stock
    • Take on board any suggestions the new grad may have in practice discussions – he or she will have the most up-to-date knowledge, and it can be a huge confidence boost to have your ideas taken up.
    • Try not to put your new grad to the bottom of the pile for holidays. In fact, some bosses almost force new grads to book a holiday after two months because they know they’ll need it.
    • Give the new grad a Christmas at home (or at least the choice of doing so). Nobody wants to work at Christmas, but is it advisable to have a stressed out new grad – who will likely still need backup in December – on call for the busiest “my dog’s eaten the Christmas pud” poisoning fest of the year? He or she will have likely moved a long way from home and will be particularly lonely at this time of year.
    • Have formal second on-call in place for as long as the new grad needs. Don’t assume he or she will be fine after six months – this will vary greatly depending on caseload.

    Making a difference

    From discussing our varying inductions and levels of support with my university friends, by far the most important thing is just being patient and friendly – even when it’s crazily busy.

    Taking 30 seconds to answer a question will make a huge difference for the new grad, rather than letting us spend ages unable to find the answer in an ancient textbook.

    If you take an interest in your new grad’s learning and development, rather than just employing us for cheap labour, you’re already heading in the right direction and your efforts to welcome us into the profession will be greatly appreciated.

  • Buying or selling a vet practice, part 1

    Buying or selling a vet practice, part 1

    Last time we looked at some hurdles owners of veterinary businesses have to overcome in finding their way to the exit door. However, once you have one hand on the door handle, what can you expect to follow?

    Practices that have been on a “buy and build” strategy will be familiar with the acquisition process, but many owners will only ever be involved in one sale process.

    Business owners in this situation often rely heavily on friends and contacts that have been through the process before, but, in many cases, those people can paint an unflattering picture.

    Parts of the process

    So what is actually involved? Is it as time-consuming and stressful as many claim?

    Generally, the process can be broken into six main phases:

    • pre-due diligence
    • due diligence
    • documentation
    • pre-closing
    • closing
    • post-closing

    In this article, we look at the first phase and how to deal with some issues that arise.

    Pre-due diligence

    Headline price

    Before letting a potential buyer inside your business, it is important to establish at the outset the price range they are prepared to pay, or at least how the price will be calculated.

    From a combination of publicly available financial information and additional (non-sensitive) financial information supplied by the business owner, a potential buyer is usually able to give an indicative price.

    However, a number of assumptions are likely to have been made when calculating this price and it will be important for the practice owner to understand what they were.

    Structure

    In addition to the headline price, how and when that is payable should be discussed at an early stage.

    As an owner, you will usually want to get as much of the price in cash as soon as possible. A buyer will usually look to defer paying as much of the price as possible, particularly in a veterinary business where personal relationships between the vets and clients are key.

    Given the number of issues that need considering if payment is deferred or subject to an earn-out (in which case, the price depends on the post-completion performance of the practice), it is vital a business owner understands whether this is the buyer’s intention and engages early with advisors to understand the issues in more detail.

    Know your buyer

    Every business owner understands a buyer will want to know as much as possible about the business it is buying before the sale completes, but not every owner appreciates the importance of knowing the buyer. For example:

    • If any deferred consideration takes place, will the buyer be good for the cash?
    • If an earn-out exists, do you trust the buyer to not manipulate the short-term profits to reduce the price payable?
    • If you are continuing in the business for a period after completion, can you work with the buyer?

    Consider speaking to the owners of previous businesses that have been bought by the buyer. Putting a bit of effort into this phase can help you gauge how likely the sale is to complete and the success of the exit.