Greg Paprocki
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The economic news these days isn't good. Financial experts now say the United States has been in a recession since December
2007. As a result of this slump, homes are worth less (prices have fallen 10 percent this year), retirement money is shrinking
along with the stock market, and there were more layoffs in November than in any month in more than 32 years. These dire statistics
have many veterinary team members—maybe even you—concerned about the fiscal health of their practices and their own job security.
One such team member is office manager Nicole Winkler, LVT, of Suffolk Veterinary Group in Selden, N.Y. She says her practice,
which is about an hour east of New York City, has endured a financial slowdown since June. "Our peak season never came," Winkler
says. "We're still making enough to pay our bills, our team, and then some, but it's hand-to-mouth at the moment." To improve
the financial picture, Winkler decided to open the clinic just five days a week rather than six. She only had to cut one team
member's hours as a result of the scaled-back work week. But she's still uneasy about the future. "We don't have the financial
cushion we'd like should things get worse," she says.
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This tugging fear that the worst is yet to come lurks around many practices even though most veterinary experts, including
Dr. Karen Felsted, CPA, MS, CVPM, CEO of the National Commission on Veterinary Economic Issues, say the veterinary business
is holding on. "Most practices are still growing but at a slower rate," she says. "But there are some clinics that have lost
revenue and are looking at what needs to be cut."
There's that fear again. It's human nature to worry that your practice will make cuts, whether it be eliminating new technology
purchases, all-expenses paid educational opportunities, or even jobs. But so what? What can you do? You don't set the fees,
pay the salaries, or decide what equipment to buy. In short, you don't own the practice. Protecting your clinic's bottom line
during this thin economy is out of your hands. Warning: It's just that attitude that can kill a practice, Dr. Felsted says. "Everyone should worry about their practice's
profits right now," she says. "If a practice doesn't make money, it's not around to make jobs." No matter your title, seniority,
or longevity, you're crucial to your practice's ability to survive this recession. Here's what you can do to help save your
practice—and your job.
1. Banish the dread
You possess the means to improve your practice's profitability, but you don't control the economy, says Mark Opperman, CVPM,
owner of veterinary consulting firm VMC Inc. in Evergreen, Colo. "There are veterinarians who go to their teams and tell them
that if things don't improve, they'll need to lay off somebody," he says. "But that's fear-mongering and it's bad for your
morale."
So if you've been told the practice is struggling, don't waste your energy fretting about whether you'll lose your job. Instead,
focus on brainstorming solutions. There might be new services to offer, different techniques for reminding clients of important
appointments or medical treatments, or a way to emphasize better customer service.
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