Practice Management

WVC 90th Annual Conference

(PM4) Budgeting: Prevent Problems & Reduce Stress!

Tuesday, March 6
9:00 AM - 9:50 AM
MBCC, Breakers E, Level 2

CE Credits: 1

Budgets can benefit a practice in many different ways – allowing owners and DVMs to anticipate problems and make continuous improvements, enabling sound financial decisions, establishing accountability and even establishing incentives for key management personnel, to name a few. Creating and maintaining budgets may seem overwhelming, but it is important to view it as an investment in the practice itself. In this session, attendees will learn what basic information is required to establish a budget and what other items need to be considered in order to make a budget comprehensive. Various types of budgets will be discussed as well as various methods for analyzing budget metrics. A sample DVM budget, accounting for all the categories and types of expenses an animal hospital would encounter, will be shared with attendees, giving them a template for implementing a budget in their own practice.

Terence M. O'Neil

Partner

Terry O’Neil is the partner-in-charge of Katz, Sapper & Miller’s Veterinary Services Group. He has been with the firm since 1999. Terry provides veterinary hospitals with business, financial, and tax advice to assist with the growth and management of their businesses. He aids clients with tax and strategic planning, forecasting, budgeting, mergers and acquisitions and/or sales of businesses, debt structuring, employment incentive contracts, financing, business valuations, buy-sell agreements, and other business and accounting services. In addition, Terry is responsible for the preparation and review of financial statements and tax returns.

Terry often speaks at conferences regarding profit improvement, veterinary business valuation, succession planning, financial benchmarking, and other business topics.

In addition to representing numerous veterinary medical practices over the last 30 years, Terry was previously the CFO for a group of eight veterinary medical practices and was a stakeholder in the busi­ness. He was also a regional financial analyst for a national veterinary medical practice. Terry assisted with the sale, purchase, integration of new acquisitions, and the preparation of regional and national bud­gets. His work as a CFO and with the national organization allowed Terry to gain valuable insight on how private and public veterinary medical practices operate.

Terry is responsible for the management of the Veterinary Study Groups’ database of veterinary hospital financial data for over 400 hospitals across the country. Managing this database allows Terry to identify key industry trends and opportunities.

Presentation(s):

Send Email for Terence O'Neil


Assets

(PM4) Budgeting: Prevent Problems & Reduce Stress!

Notes

Attendees who have favorited this

Please enter your access key

The asset you are trying to access is locked. Please enter your access key to unlock.

Send Email for Budgeting: Prevent Problems & Reduce Stress!