🛡️ Resilience: 7 ways to de-risk your practice

You’ve already built something worth protecting. Your practice delivers quality care, your clients trust you, and you’ve assembled a team that shows up ready to work. The question isn’t whether change is coming to veterinary medicine. It’s whether your practice will be ready when it arrives.

Building resilience isn’t about predicting every possible challenge. It’s about creating enough financial flexibility, operational stability, and team strength that you can adapt to whatever shows up next. The practices that consistently come out ahead aren’t necessarily the biggest or the flashiest. They’re the ones that built solid foundations in a few key areas before they needed them. What follows are seven practical strategies that future-proof your practice by strengthening the fundamentals: your finances, your people, your systems, and your relationship with the community you serve…

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Strategies for Building Resilience

Financial Planning and Risk Management

Solid financial planning and risk management are crucial for long-term stability and growth. Financial resilience isn’t just about surviving tough times—it’s about creating the flexibility to seize opportunities and drive your practice forward.

• Building cash reserves should be a top priority for practice owners. A robust emergency fund can help weather unexpected downturns, cover sudden expenses, or invest in opportunities as they arise. Aim to set aside 3-6 months of operating expenses as a baseline.
• Diversifying revenue streams can provide stability when one area of the practice faces challenges. This might involve expanding into new services like vacation care, rehabilitation, or behavioral consultations. Some practices have found success in adding broader retail components or developing pet health events.
• Implementing robust insurance coverage is another key aspect of risk management. Beyond standard liability and property insurance, consider business interruption insurance, cyber liability coverage, and key person insurance. Regularly review and update policies to ensure they keep pace with your practice’s growth and changing risks.
• It’s also wise to work with financial advisors who understand the unique challenges of veterinary practices. They can help create long-term financial strategies, optimize tax planning, and provide valuable insights on industry trends.
• Fast Track Tip: Schedule a monthly review of your key financial metrics and trends, allowing you to proactively adjust your budgets, pricing, or resource allocation.

A strong financial foundation isn’t just about the bottom line—it’s about having the freedom to provide the best care possible, no matter what challenges come our way. – Dr. Alex P., Veterinary Practice Owner

Workforce Development and Retention

Securing new team members and building and maintaining a skilled, motivated team are crucial for practice success.

• Creating clear career progression pathways can significantly boost retention. Outline potential growth opportunities within your practice, whether it’s advancing to lead technician, taking on management responsibilities, or specializing in a particular area of veterinary medicine.
• Implementing mental health and wellness programs is no longer optional. The demanding nature of veterinary work can take a toll on staff well-being. Consider offering employee assistance programs, promoting work-life balance through flexible scheduling, and creating a supportive workplace culture.
• Fostering a culture of continuous learning keeps your team engaged and your practice at the forefront of veterinary medicine. This might involve sponsoring continuing education courses, hosting in-house training sessions, or bringing in specialists for workshops.
• Improving compensation, especially for support team members, is crucial in today’s job market. Regularly benchmark your salaries against industry standards and consider innovative benefits packages. Remember, investing in your team often leads to improved patient care and client satisfaction.
• Lastly, don’t underestimate the power of recognition and appreciation. Regular feedback, team-building activities, and celebrating achievements can go a long way in creating a positive work environment.
• Fast Track Tip: Implement quarterly one-on-one professional development conversations with each team member to identify their growth opportunities and ensure they feel valued and motivated.

Our team is our greatest asset. By investing in their growth and well-being, we’ve built a practice where people want to stay and grow. – Dr. Emily T., Veterinary Urgent Care Center Director

Embracing Technological Advancements

Staying current with veterinary technology is crucial for providing best-practice veterinary care and running an efficient practice.

• Adopting telemedicine and remote monitoring tools can expand your reach and improve client convenience. These technologies allow for highly cost-effective follow-up consultations, chronic disease management, and quick triage of cases.
• Implementing data analytics can provide valuable insights into your practice’s performance. From tracking patient outcomes to analyzing financial trends, data-driven decision-making can help optimize operations and improve care quality.
• Exploring AI and machine learning applications in diagnostics can enhance accuracy and efficiency. While these technologies shouldn’t replace veterinary expertise, they can serve as powerful tools to support clinical decision-making.
• Fast Track Tip: Select and pilot one new technology solution per quarter—such as telemedicine platforms, digital client communication apps, or workflow management software—to continually enhance your practice’s efficiency.

Embracing new tech has transformed how we practice. It’s not about replacing our skills, but enhancing them to provide even better care. – Dr. Mark S., Veterinary Hospital Chief of Staff

Enhancing Client Relations and Communication

Building strong client relationships is key to practice loyalty and growth.

• Developing personalized client engagement strategies can set your practice apart. This might involve tailoring communication preferences, offering customized care plans, or remembering personal details about clients and their pets.
• Utilizing multi-channel communication platforms ensures you’re reaching clients through their preferred methods, whether it’s text, email, or social media.
• Implementing client education programs on preventive care can improve compliance and pet health outcomes while positioning your practice as a trusted resource.
• Hiring a part-time marketing professional can help drive growth by attracting new clients and re-engaging existing ones through targeted campaigns and community outreach.
• Fast Track Tip: Immediately implement a simple, automated follow-up message to clients after each appointment, thanking them for their visit and inviting feedback to strengthen client loyalty.

Our clients are part of our practice family. Investing in those relationships has paid off in loyalty and word-of-mouth referrals. – Dr. Lisa M., Veterinary Clinic Owner

Adaptable Service Offerings

Flexibility in services can help your practice meet changing client needs and market demands.

• Developing specialty and niche services can differentiate your practice. This might involve focusing on exotic pets, geriatric care, or integrative medicine.
• Creating flexible appointment models, such as offering extended hours, walk-in services, or house calls, can cater to diverse client needs and lifestyles.
• Implementing value-based pricing strategies can help balance affordability for clients with the need for practice profitability. This might involve tiered service packages or membership models.
• Fast Track Tip: Conduct a brief client survey annually to discover new services they may value, such as senior pet wellness checks, nutritional counseling, or rehabilitation therapy.

Adapting our services to what our community needs has been key to our growth. We’re always asking, ‘What else can we offer?’ – Dr. James R., Emergency Veterinary Hospital Medical Director

Collaborative Partnerships and Community Engagement

• Building strong community ties can enhance your practice’s reputation and create new opportunities. Forming alliances with other local businesses, such as groomers or pet stores, can lead to mutually beneficial referral relationships.
• Participating in community health initiatives, like vaccination clinics or educational events, can raise your practice’s profile and contribute to public health. Engaging with veterinary schools for talent pipeline development can help address staffing challenges while contributing to the profession’s future.
• Fast Track Tip: Identify and connect with one local organization or complementary pet-related business each quarter to create mutual referral opportunities and enhance community visibility.

Our local partnerships have opened doors we never expected. It’s made us more than a clinic—we’re a community resource. – Dr. Michael B., Veterinary Hospital Owner

Sustainable and Eco-friendly Practices

Implementing environmentally conscious practices can reduce costs and appeal to eco-minded clients.

• Adopting energy-efficient systems and sustainable waste management practices can lower overhead costs while reducing your practice’s environmental footprint. In addition, sourcing eco-friendly products and medications, where possible, can appeal to environmentally conscious clients and contribute to broader sustainability efforts.
• Fast Track Tip: Initiate a quick-win sustainability effort—like switching to recycled office supplies or introducing clearly labeled recycling bins—to immediately demonstrate your commitment to eco-friendly practices.

Going green isn’t just good for the planet – it’s good for our bottom line and our reputation in the community. – Dr. Sarah K., Veterinary Practice Owner

Closing Thoughts…

Pick one thing from this list that addresses your biggest headache right now and do it this week. If you’re losing good people, schedule those development conversations. If your financial picture feels murky, set up that monthly metrics review. Don’t try to tackle everything at once, or you’ll end up doing nothing particularly well.

Your practice will face challenges you can’t predict yet. That’s just reality. But when you build in some financial cushion, create systems that keep good people around, and stay reasonably current with what clients expect, you give yourself options when those challenges show up.

We’d greatly value hearing your experiences and insights. How is your practice adapting and thriving? Share your stories or ask us questions…let’s keep the conversation going and continue strengthening our veterinary community together.

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Identifying Risks and Challenges for Building Resilience

Short-term Risks (0-12 months)

Veterinary practices currently face immediate challenges requiring swift, targeted action. Economic volatility and uncertainty can lead to reduced client spending, affecting appointment frequency and elective procedures. Practices need flexible financial strategies to continue delivering quality care while accommodating client budgets.

Staff shortages and high turnover remain pressing concerns. Retaining top veterinary talent demands proactive recruitment and retention efforts, emphasizing career development and workplace satisfaction.

Supply chain disruptions, from medications to equipment, can significantly disrupt operations. Practices should actively manage inventories, diversify suppliers, and maintain clear oversight of essential supplies.

In this industry, being prepared for short-term hurdles is half the battle. We’ve learned to expect the unexpected and always have a Plan B ready. – Dr. Sarah M., Veterinary Practice Owner

Medium-term Risks (1-3 years)

Veterinary practices must anticipate evolving client expectations, including demands for specialized services and seamless digital experiences. Staying responsive to these changing preferences is key to maintaining client loyalty.

Rapid technological advancements, such as AI-assisted diagnostics and telemedicine, offer great potential but require thoughtful investment and ongoing team training. Practices must strategically evaluate and integrate beneficial technologies.

Increasing competition from innovative care models like mobile services and telehealth necessitates clear differentiation. Practices should identify unique value propositions or specialty areas to stand apart from competitors.

In over thirty years of practice ownership I have learned that the key to longevity in this field is adaptability. What worked yesterday might not work tomorrow, so we’re always looking ahead and ready to pivot. – Dr. Michael R., Veterinary Hospital Director

Long-term Risks (3+ years)

The potential slowdown in corporate practice acquisitions may limit traditional exit strategies. Practice owners should diversify succession plans by developing internal leadership, building robust management teams, or exploring employee ownership options.

Changing pet ownership trends—driven by urbanization, shifting demographics, or alternative pet-care models—could reshape client demand. Practices must stay attuned to these trends and adjust service offerings accordingly.

Advances in pet pharmaceuticals and home-based diagnostics might reduce routine veterinary visits. Practices should adapt by specializing in complex cases, advanced treatments, or adopting consultative service models to remain relevant.

The practices that will thrive in the long run are those that see change as an opportunity, not a threat. We’re always thinking about how to stay ahead of the curve. – Dr. Rachel K., Veterinary Practice Owner

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