Should we incorporate ourselves?
Sunday, July 1, 2012 at 03:00PM Corporations and private investors are becoming a growing part of veterinary medicine. What are the advantages and disadvantages of increasing numbers of corporate owned veterinary clinics? What are your experiences with this type of system, and will you or are you considering getting involved in corporate veterinary medicine in the future? Why or why not?
Winner, Forum category
Becky Lee, UC Davis
“Don’t work for them if you can help it.” This was advice I received from a vet working at one of the large corporate-owned veterinary hospitals. For some veterinarians, the reputation of these corporations can be dismal. In my personal experience, working for these corporations in the summers during vet school and on externships, I feel I’ve gained a general understanding of the pros and cons. Although I try to keep an open mind, I have seen sides of the corporate behemoths that would make me think very carefully before signing a contract.
I must admit that the compensation from some of these companies is very appealing, and the benefits they offer help keep our industry standards high. In some ways, I am grateful. This is important to us as students with our colossal loan debt. Of course, money is not the bottom line for us; otherwise, we would all be working on Wall Street or managing hedge funds instead of being vets and treating hedgehogs.
Large corporate-owned practices also have an abundance of resources. There is consistency in staff training and likely similar technology available between practices. If you are out of heartworm tests, you can drive over to your neighboring corporate location and borrow a few. Or if you have a staff member out sick, it’s probably easier to find a back-up technician as a substitute compared to working at a single, independently-owned practice. I also have to admit that I think wellness plans can be a good thing and encourage preventative medicine, so long as these plans are not rammed down the client’s throats, and the pets aren’t receiving unnecessary services. Fortunately, I think the medical services provided with these plans have improved over the past few years. Lyme vaccine and tonometry, anyone?
However, despite the ample resources these corporations have, one issue that left a negative impression with me was the pressure to sell. “Were you sure to offer the wellness plan? Did the receptionist, nurse and doctor all offer the plan to the client? Why aren’t you getting people to sign up for these wellness plans?” Questions like these were emphasized and re-emphasized by regional directors in their visits to the hospitals. In my opinion, the pressure to sell was much stronger in corporate veterinary medicine than compared to the independently-owned practices where I’ve worked.