Live Oak Bank has teamed up with Smart Start Practice™ to help promote the educational program they provide to veterinarians of all ages and practices in all stages. As lenders we are deeply interested in the financial success of our clients. SmartStart's business administration training, a sort of mini-MBA, really helps their graduates master the fundamentals of business. Both companies support the continuing education of veterinarians across the nation.

 

Live Oak Bank is dedicated to helping veterinary students understand the financial process that accompanies practice ownership. Regardless of whether or not the student is a future client of Live Oak Bank, we believe that a rising tide floats all boats, and as a company that employs several former teachers, we believe in the power of education. The Veterinary Business Management Association (VBMA) is an organization for veterinary students and assists in developing their communication, leadership and managerial skills. VBMA and Live Oak Bank have a shared interest - the advancement of financial acumen within the veterinary industry. Because of this common goal and the desire to educate, we are proud to be a major sponsor of all VBMA chapters throughout the United States. And because these schools are eager to learn from our industry experience, we are committed to a consistent presence through speaking engagements and open forums across the nation.

 

LocalVets.com is a revolutionary online directory that thousands of pet owners use each day to find a vet in their area. Unlike Yellow Pages and other costly, difficult-to-track advertising programs, LocalVets.com does not charge for a listing. Instead, hospitals only pay when a new client finds them specifically through LocalVets.com. In addition to connecting new clients with your practice, LocalVets.com provides the ability to listen to recordings of all calls that you receive through your listing in LocalVets.com. This has proven invaluable to practice owners and managers who use LocalVets.com to improve the effectiveness of their front desk staff.

"LocalVets.com has been incredible for our practices. Not only do we get many new clients from our listings, but the ability to listen to calls has led to major improvements in how our front desk handles potential new clients. There is literally no downside to the program and I would recommend LocalVets.com to anyone."

-- Cassy Albritton Metas, VHMA Member, Practice Manager for Tampa Animal & Bird Hospital Group

 

In recent years, veterinary practice appraisers have seen an increase in the number of practices with no value or an exceptionally low value (i.e., No-Lo Practice™). Quite unexpectedly, appraisers are also observing a significant change in the character of the No-Lo Practice in that the number of practices traditionally expected to be profitable has decreased, including practices that offer quality, progressive medicine with the latest equipment; are located in new, state-of-the-art facilities; and offer above average compensation packages to doctors and staff members. Owners in these practices may take home more than $200,000 per year but still have No-Lo Practices. If you are a practice owner or potential buyer, this publication is a must-read and includes:
• A discussion about how the trend developed and the common symptoms of a
No-Lo Practice
• A worksheet specifically designed to estimate a practice’s true profitability
• Factors that cause low practice value
• Practical information about how to restore profitability and recapture lost value The Association of Veterinary Practice Management Consultants & Advisors (AVPMCA) is taking a leading role in educating practice owners about this highly debilitating trend in the veterinary industry. Reading this publication in its entirety is your first step in ensuring your personal financial security.

 

Live Oak Bank is a proud sponsor of the Simmons Educational Fund. Specializing in educating practitioners about the business aspects of the veterinary world, Simmons is dedicated to improving the veterinary profession as a whole. In addition to bringing top-notch veterinarians and practices together on a national level, Simmons is also committed to nurturing and helping future generations of veterinarians. Every year, through its Business Aptitude Award Program, Simmons holds a nation-wide competition and awards $2,000 to a single veterinary student from each participating school. These winners then compete, based upon essay submissions, for a $10,000 prize and a trip to the Western Veterinary Conference held in Las Vegas.

 

VESPA’s mission is to recognize the unique needs of veterinary emergency and specialty practices, and bring the leaders of those practices together by sharing resources, creating networking opportunities, providing support and inspiring success. They are a diverse group of veterinary professionals whose members enjoy resources such as a monthly newsletter and hosted Member Chat, informative educational articles and networking opportunities through gatherings at large national conferences. In continuing our desire to aid in the education of all types of veterinary practitioners, Live Oak Bank is proud to partner with VESPA as they are always looking toward the future of veterinary medicine.

 

Live Oak Bank sponsors the AVPMCA for several reasons. We believe in the value of continuing education among the industry leaders in service and research. We also believe that the forum of open and robust discourse provides a healthy influx into the market place of ideas. This annual meeting of the leaders in Practice Management serves the industry well, and with Live Oak Bank having members on the finance and public relations committee, we wholeheartedly intend on continuing our commitment to the AVPMCA.

 

Live Oak Bank is proud to support our client and friend, Dr. Matthew Wheaton in his push to create the best “no-kill shelter” in Laguna Hills, CA. The goal of Dr. Wheaton and his staff is to work with the community and animal rescue groups to provide a no-kill, temporary sanctuary for pets in need of a home. In this effort, they will provide a safe, clean and caring facility to effectively enable rescued pets to find a family. In addition, The Pet Rescue Center will allocate financial grants, as they are available, to assist families undergoing financial hardship to provide lifesaving treatments for their pets.