At Martin, Bircher, Thompson, PC, we offer personalized services and consultation for veterinary practitioners based on our experiences and resources from AAHA. We know that veterinarians have their own specific set of tax and financial needs that are required to put them on the road to success.
We also know that an organized and well-managed financial system can directly impact the well-being of each employee and patient in their care.
Here are the consulting services we provide to veterinarians.
Veterinary Practice Transition
If you are considering either buying or selling a practice, buying into a practice, or becoming an associate with ownership potential, we can help you with the decision-making process.
If you are purchasing a practice, we can provide the following services:
- Provide attorney recommendations who have experience specifically with veterinary transactions
- Set up and work with your attorney on contracts
- Help with entity selection
If you are selling, we are available to guide you through this process.
Accounting System Setup and Training
Properly structured and well-understood financial reporting software provides a foundation for making smart business decisions.
Our QuickBooks® setup and training services are designed specifically to meet the needs of veterinary practices. We customize the set up for your practice to allow you to easily obtain the financial information that is essential for the many key business decisions you will need to make. We specifically use the AAHA-approved chart of accounts and other resources recommended specifically for veterinary practices.
Compensation Services and Bonus Programs
Our firm can help determine a compensation incentive program that would be a good fit for your office.
Martin, Bircher, Thompson PC can help design compensation allocation formulas to fit the needs of group practices.
Practice Planning Meetings
Regular planning discussions with you will deepen our insight into your practice and will help you identify business issues, develop solutions, and seize opportunities. Some of the areas we can help address are financial trends and practice performance, tax planning, and special projects.
Key Factor Analysis
A Key Factor Analysis is like a checkup for your practice. It will help you understand the key indicators of a healthy veterinary practice and establish a benchmark for improving your financial performance. It sets the stage and format for our ongoing Key Factor Reports. We use the AAHA-published benchmark data to assist us in this analysis.
Key Factor Reports
It is critical to budget, track, and analyze key expenses and performance indicators on a real time basis to get the maximum financial return from your practice.
Our Key Factor Reports focus on the most important financial indicators — such as overhead, production, lab and pharmacy ratios, and credentialed vet tech efficiency — and enable you to regularly evaluate the performance of your veterinary practice.
Associate Veterinarian Planning
Are you feeling that you are “booked too far out” with too many patients? Would you like to cut back on the amount of time you spend at your practice?
Perhaps it is time to consider an associate. We understand the issues surrounding this very important decision and can help you determine your best options.
Retirement Plan Evaluation
You will need to establish a retirement plan in order to stay competitive in today’s market and accumulate tax-deferred savings for retirement.
We can:
- Advise you on the various types of plans available.
- Help you determine what benefit level you should provide your staff.
- Identify the right time to implement your plan.
Contact Martin, Bircher, Thompson, PC today to find out more about our financial consulting services, or explore some of our other services for veterinarians and medical professionals.