Practice Management

WVC 90th Annual Conference

(PM28P) Owner(s) Compensation: Is It Fair?

Wednesday, March 7
11:00 AM - 11:50 AM
MBCC, Breakers E, Level 2

CE Credits: 1

No one talks about owners’ compensation. All the compensation seminars are about associates, managers and staff. The results are that many practice owners do not pay themselves enough. This talk will focus on the four parts of owner compensation: clinical production, management responsibilities, facility rent (if the property is owned by the practice owner), and profit. Additionally, since owner compensation includes more than just money, this talk will cover benefits packages, particularly owner perks such as cars and retirement contributions. Finally, some hospital owners pay themselves more than the practice can truly afford. We will discuss how to identify this situation and what to do about it.

Joy Furhman

Director of Finance and Operations
Summit Veterinary Advisors

Originally from South Africa, Dr. Fuhrman has more than a decade of experience as a Certified Public Accountant in financial consulting and corporate accounting. A graduate of Colorado State University’s combined MBA/DVM program, she brings with her a combination of veterinary practice management, financial analysis, business valuation, professional development and leadership training skills.

Her veterinary experience includes small animal general and emergency practice, small and large animal anesthesia and pain management, and small animal dentistry. She also has experience working with exotic pets, including birds and reptiles, as well as zoo animals and wildlife. Joy serves on the Colorado Veterinary Medical Association Board of Directors and helped develop their Power of Ten Leadership Academy.

In her current role as Director of Finance and Operations for Shepherd Software, Inc., Dr. Fuhrman is responsible for managing the business operations for this start-up practice management software development company. She also provides financial and practice management consulting services to its clients.


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Leslie A. Mamalis

Senior Analyst
Summit Veterinary Advisors

Leslie is Summit's owner and Senior Consultant. Leslie has been a key part of Summit since 2006, providing practice valuations, profitability assessments, feasibility analyses, and financial consulting to veterinary specialists and general practices alike. Leslie has an MBA and an MS in Information Technology, and became a Certified Valuation Analyst in 2013. She worked for the American Animal Hospital Association for seven years, beginning with management education seminars and then becoming involved with the Accreditation program. Leslie is a frequent speaker and author on practice management, profitability and budgeting topics. She is also a Certified QuickBooks Pro Advisor with extensive experience helping veterinarians and managers understand financial reports so they can use that information to increase practice profitability and value. A native of Wyoming, Leslie grew up surrounded by horses, cattle, and wide open spaces. When she's not working, Leslie enjoys gardening, hiking, bird feeding, wildlife watching, and yoga.


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(PM28P) Owner(s) Compensation: Is It Fair?


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