Veterinary

We focus on the health of your practice so that you can focus on the health of your patients.

Davis & Hodgdon Advisory Group has served Vermont’s veterinarians and their practices for more than 30 years.

Our team provides the veterinarian-centered business services that allow vets to focus on what really matters and experience the peace of mind that comes with having a clear, strategic plan for their future and the future of their practice.

Whether you are just launching or expanding your practice or perhaps you are ready to begin planning your exit strategy for retirement – we have the perfect set of services to enable you to succeed!

Click here to check out our most recent article about Veterinary practices post-COVID-19.

Veterinarian Practice Services:

• DH CPAs provides proactive, not reactive tax planning = No more surprises at tax time.
  • Entity selection
  • Compensation considerations
• *Copper Leaf Financial's personalized financial and retirement planning integrates every aspect of your life.
  • Fiduciary, fee-only financial advice
  • 401(k) Retirement plan services
  • Evidence-based investing
• RAD (Remote Accounting Dept.) offers accounting and bookkeeping management.
  • Process bills
  • 3rd party payroll support
  • Maintain and reconcile your financial accounts
  • Customize detailed KPI statements and Pulse reports to make better, more informed decisions about your practice
• DH Exit Planning
  
  • Transition planning and Merger & Acquisition consideration
  • Practice valuations
  • Value acceleration strategizing

Are you looking at the information necessary to understand how well your practice is doing?

Is the review of these key performance indicators (KPIs) and business-critical reports part of your routine? 

• Monthly revenue
• Revenue by service type
• Average charge per transaction/invoice
• Monthly Accounts Receivable
• New clients per month
• New clients returning for second visits
• Client turnover rate (CTR)

Monitoring the appropriate KPIs for your practice and developing benchmarks will help you keep track of your practices’ financial viability, quality of care, and efficient production and collection, just to name a few.

Davis & Hodgdon can automate these reports into a manageable format and show you how to effectively analyze your business in just a matter of minutes each month, so that you have the time you need to work on your practice, not in your practice.

Articles

• Is it Time to Consider Outsourcing Your Veterinary Practice's Bookkeeping?  https://www.dh-cpa.com/is-it-time-to-consider-outsourcing-your-veterinary-practices-bookkeeping.html
• The Challenges and Evolution of Veterinary Practices Post-COVID-19 https://www.dh-cpa.com/veterinary-practices-post-covid-19.html
• Veterinary Practice Ownership, Your Path to Financial Security? http://simmonsinc.com/veterinary-practice-ownership-your-path-to-financial-security/
• Using Key Performance Indicators to Better Manager Your Veterinary Practice: http://www.impromed.com/newsletter/article.aspx?a=388
• KPIs in a Veterinary Practice: http://www.turbochargeyourpractice.com/blog/grow-your-practice/key-performance-indicator-kpi-in-a-veterinary-practice/
• State Taxes Charged on Veterinary Sales and Services: www.avma.org/Advocacy/StateAndLocal/Pages/sr-state-taxes.aspx
• Veterinary Supplies Exempt from Vermont Sales Tax: http://tax.vermont.gov/sites/tax/files/documents/06-04.pdf 
• Attention, Young Veterinarians: These Financial Secrets will Change Your Life: http://veterinarynews.dvm360.com/attention-young-veterinarians-these-financial-secrets-will-change-your-life
• The Business-Minded Veterinarian: http://newswise.com/articles/the-business-minded-veterinarian
• Veterinary Practice Ownership – Leaving a Legacy: http://simmonsinc.com/veterinary-practice-ownership-leaving-a-legacy/
• The Wonderful World of Profit for Veterinarians: http://simmonsinc.com/wp-content/uploads/2014/07/The-Wonderful-World-of-Profit.pdf 

*Copper Leaf Financial is an affiliated and separately registered entity.