Financial Literacy

Webinars

The Veterinary Hospital Managers Association (VHMA) and Veterinary Medical Association Executives (VMAE) – organizations that share a commitment to help veterinary practices thrive – have entered into a strategic partnership that will deliver a series of online financial seminars available to your members at no charge. VHMA and VMAE are launching a four-part webinar series, Boosting Your Financial IQ to Maximize Fiscal Performance, designed to elevate the financial literacy of those involved in veterinary management.

The webinars will be delivered from 1-2 PM Eastern time on these topics and dates:

  • Financial Statements 101 – June 27, 2018
  • Key Performance Indicators: Simplifying the Tools that Gauge Hospital Performance – August 22, 2018
  • Why Budgeting Can Prevent Problems and Relieve Stress – October 3, 2018
  • Trends at the Most Profitable Veterinary Hospitals – January 9, 2019

In partnership with VHMA, VMAE has created this resource as another example of the “create once, use many!” approach to providing resources that help you deliver value to your VMA members. To make the webinar series visible to your members, VMAE suggests the following:

  • Create the access pathway – How can your VMA members access the information about the webinars? There are two ways, and you choose the one that works best for you:
    • One way is to make this LINK visible in your communications and on your website. Complete information about the webinar series is provided on a splash page on the VHMA website, from which viewers can follow links to secondary pages containing detailed information about each of the four programs. Under this approach, the VHMA logo is prominent and your members can navigate to other information on the VHMA website by clicking on links in the right-hand column.
    • The other way is to use the text from the VHMA splash page (contained in a Word document located HERE) to a page on your VMA’s website, thus incorporating the information into the look and feel of your VMA and reinforcing the connection between the webinars and the value provided by your VMA. When your members click the link for more details and registration information on a specific webinar in the series, the link will take them to the VHMA website for final steps.
  • Announce the series – Use the above Word document that contains text you can use to inform your members about these educational opportunities. Tailor it to fit your needs – and be sure to include information about YOUR VMA in the copy so that you are positioned as a partner in delivering this member benefit. Please use all of your print and digital communication channels to generate maximum awareness!
  • Register members with ease – VHMA is handling the registration logistics for the webinar series, so there’s no administrative burden to your VMA! Because members from multiple VMAs will be participating in each webinar, VHMA will provide a registration list sorted by VMA so that you can track how many and which of your members choose to participate in each webinar.

VMAE greatly appreciates this partnership with VHMA. This initiative aligns with VMAE’s strategic framework and the goal of assisting you in helping your members increase client traffic and enhance practice profitability. It also demonstrates the power of collaboration by connecting valuable content from credible presenters with the network of organizations that can most effectively engage members of the veterinary team. Special thanks go to VMAE member Christine Shupe, the VHMA executive director, for her commitment to the success of this partnership!

Veterinary Practice Management Essentials

To enhance veterinary practice management, VMAE is pleased to collaborate with VetPartners in offering Veterinary Practice Management Essentials (VPME), a free digital booklet available for download. The VPME is a free tool developed by veterinarians, practice owners, and management professionals of VetPartners to help elevate financial acumen, business skills and management experience amongst veterinary professionals. The VPME provides an inventory of management and business functions and skills critical to operating a financially viable veterinary hospital. Topics include:

  • Strategic Planning
  • Finance & Accounting
  • Law & Ethics
  • Human Resources
  • Marketing & Communications
  • Medical Management
  • Information Technology

This unique resource outlines standards for successful management of a veterinary practice and includes a list of resources that provide more information regarding the various topics. It is intended to be used to help determine areas where practices are doing well from a management perspective, and areas where they should focus on improving.

VetPartners has developed a self-assessment tool to help assess a practice’s readiness for engaging a consultant or advisor.