Veterinary

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

Davis & Hodgdon Associates has served Vermont’s veterinarians and their practices for more than 25 years.
Our team of professionals provides tax, accounting and veterinarian-centered business services that allow vets to focus on what really matters to them – their patients.
Whether you are starting 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.

For the "start-up" or entrepreneurial veterinarian:

• Entity selection
• Cash Flow Forecast & Projections
• Internal controls: How effective/efficient is your practice?
• Compensation planning
• Bookkeeping through RAD (Remote Accounting Dept.)
• Inventory management and controls
• Product pricing & Cost Analysis
• Practice valuations for mergers/acquisitions
• Financial Planning and Investment Management

For the veterinarian looking towards retirement and exit planning:

• Practice valuations for mergers/acquisitions
  Retirement and succession planning through Copper Leaf Financial
  Financial Planning and Investment Management through Copper Leaf Financial

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

• 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: True Wealth Management

Davis & Hodgdon offers true wealth management with the services offered under the umbrella of Copper Leaf Financial. At Copper Leaf Financial we bring together holistic and comprehensive financial planning designed to integrate and enhance every aspect of your financial life. This is “true wealth management” — a holistic, all-encompassing approach that goes beyond just investment advice and incorporates all facets of your financial life, from tax planning to estate planning to retirement funding and beyond. By aligning these critical components of financial health, we can substantially improve the odds of reaching your most important goals.