Veterinary Financial Podcast

We asked Sebastian Gabor, Co-Founder of Digitail, about using Artificial Intelligence in veterinary medicine, the accuracy of AI, concerns about using AI, and how to use AI to benefit your practice’s finances. - How does AI help with record-keeping and administrative tasks? - How common is it for veterinary practices to use AI? - What are the issues with the reliability and accuracy of AI systems? - What are some other concerns about using AI in vet med? - How can AI help your practice finances? Ways to Connect with Sebastian: Linkedin: https://www.linkedin.com/in/sebastiangabor/ Website: https://digitail.com/ Download “AI in Veterinary Medicine: The Next Paradigm Shift” study: https://links.digitail.com/ai_vet_med_study Ways to connect with Veterinary Financial Summit: VetFinancialSummit.com Instagram: @vetfinancialsummit Facebook: https://www.facebook.com/VetFinancialSummit Email: Leadership@VetFinancialSummit.com

We published a blog recently by Dr. Phil Zeltzman (co-founder of VFS) called What Financial Advice Would You Give Your Younger Self? He interviewed some of the best minds in veterinary medicine about what advice they would have given themselves, knowing what they know now. In this episode, we expand on some of the takeaways from that blog. - Tips for saving: High Yield Savings Accounts, Emergency Funds, and Automation - Building credit: Credit Cards, Loans, Rent - Investing: Roth IRA, 401(k) & 403(b), the “3 bucket strategy”, and Real Estate - Student loan mistakes, how to tackle them, and saving for the tax bomb - Career / Practice Ownership: Contracts, Practice Ownership as an investment - Living Fully: Intentionally saving for the future, spending on what you enjoy - Philosophy: Using CE money to learn new skills, making financial education a part of your continuing education Mentioned in this episode: Financial Advice For Your Younger Self Blog: https://vetfinancialsummit.com/what-financial-advice-would-you-give-your-younger-self/ Student Loan Planner ($100 off discount link): https://bit.ly/3V4iYJa Debt-Free Vets Facebook Group: https://www.facebook.com/groups/1220774971268317 Episode 32 of the Veterinary Financial Podcast: Best Practices for Job Seekers Ways to connect with Veterinary Financial Summit: VetFinancialSummit.com Instagram: @vetfinancialsummit Facebook: https://www.facebook.com/VetFinancialSummit Email: Leadership@VetFinancialSummit.com

We asked Emmitt Nantz, Co-Founder of Inventory Ally, about the factors that drive inventory costs, COGS and how to calculate them, who should manage inventory at a vet practice, and common mistakes. - What are the factors that drive inventory costs? - How can practices keep costs under control? - What are COGS and how do we calculate them? - Why shouldn’t practices rely on their PIMS to manage inventory? - Who should be in charge of inventory in a small practice? - What are some common mistakes vet practices make with managing inventory? - What is Inventory Ally? - What was the experience like winning the pitch competition at the Veterinary Innovation Summit? Ways to connect with Emmitt: Website: https://inventoryally.com/ Email: emmitt@inventoryally.com LinkedIn: https://www.linkedin.com/in/emmitt-nantz/ Ways to connect with Veterinary Financial Summit: VetFinancialSummit.com Instagram: @vetfinancialsummit Facebook: https://www.facebook.com/VetFinancialSummit Email: Leadership@VetFinancialSummit.com

We asked Michael Natale, a licensed veterinary technician and talent acquisition and retention manager with Veterinary Emergency Group about his interest in personal finance, advice for colleagues trying to save for retirement or buy a home, staff retention, and financial tips for support staff. - How did Michael get started in vet med and become interested in personal finance? - What would Michael say to a support staff member who feels like they can’t save for retirement or buy a house? - What is Michael’s role as a talent acquisition and retention manager? - What are some interesting ideas to retain staff? - Which staff are the hardest to retain in vet hospitals? - What is Michael most excited about in his current roles? - What are Michael’s best financial tips for support staff? Ways to connect with Michael: Instagram: @thevetmedteacher Ways to connect with Veterinary Financial Summit: VetFinancialSummit.com Instagram: @vetfinancialsummit Facebook: https://www.facebook.com/VetFinancialSummit Email: Leadership@VetFinancialSummit.com

We asked Mary Buss, veterinarian and the VP of Veterinary Operations at Hometown Veterinary Partners, about her experience in mentorship, developing leadership skills, practice ownership opportunities, and non-traditional veterinary roles. - How has Mary’s interest in leadership and mentorship evolved? - How can veterinarians become better mentors? - What should a new grad look for in a mentor? - How can veterinarians improve their leadership skills? - What are some options out there now for vets who want to be practice owners? - What is Mary’s advice for vets who want to pursue a non-traditional role, but don’t know where to start? Ways to connect with Mary: LinkedIn: https://www.linkedin.com/in/dr-mary-buss-5184433b/ Email: marybuss@hometownvetpartners.com Ways to connect with Veterinary Financial Summit: VetFinancialSummit.com Instagram: @vetfinancialsummit Facebook: https://www.facebook.com/VetFinancialSummit Email: Leadership@VetFinancialSummit.com

We asked Jason Balara, board-certified veterinary surgeon, real estate investor, and CEO of Lark Capital Group, about getting started with real estate investing, multi-family syndication investments, financial freedom, and his podcast “Know Your Why”. Ways to connect with Jason: https://www.larkcapital.com/ Email: jason@larkcapital.com LinkedIn: https://www.linkedin.com/in/jasonbalara/ Instagram: https://www.instagram.com/larkcapital/ Ways to connect with Veterinary Financial Summit: VetFinancialSummit.com Instagram: @vetfinancialsummit Facebook: https://www.facebook.com/VetFinancialSummit Email: Leadership@VetFinancialSummit.com

We asked Kelly Cronin, veterinary technician, entrepreneur, speaker, travel hacker, and millionaire about how she got started with short-term rentals, her experience speaking to veterinary teams on financial fitness, and her best travel hacking tips. - What is Kelly’s background in veterinary medicine? - How did Kelly get started with short-term rentals? - What short-term rentals does Kelly have and where are they located? - How do people find out about her short-term rentals? - What topics does Kelly speak on and what message does she share? - What are some limiting beliefs Kelly sees with veterinary team members regarding finances? - What is VetTechLife? - What are Kelly’s best travel hacking tips? Ways to connect with Kelly: VetTechLife: https://vettechlife.com/ Cronin’s Castles: https://croninscastles.com/ VetTechLife Financial Fitness Facebook group: https://www.facebook.com/groups/1565420814266226 LinkedIn: https://www.linkedin.com/in/kellylynncronin/ Email: kelly.lynn.cronin@gmail.com Instagram: @kelly.lynn.cronin Ways to connect with Veterinary Financial Summit: VetFinancialSummit.com Instagram: @vetfinancialsummit Facebook: https://www.facebook.com/VetFinancialSummit Email: Leadership@VetFinancialSummit.com

In this BONUS episode of the Veterinary Financial Podcast, we discuss the upcoming Virtual Veterinary Financial Summit. Happening on September 30 - October 1, the Summit is a virtual event that brings veterinary professionals together to learn about personal finance and practice management. We aim to empower attendees with the knowledge to make better financial decisions. - What is the Virtual Veterinary Financial Summit? - What’s on the Agenda this year? - Designing your financial plan View the Agenda: https://vetfinancialsummit.com/summit/ Get Your Ticket: https://vetfinancialsummit.ticketspice.com/vfs2023 Ways to connect with Veterinary Financial Summit: https://VetFinancialSummit.com Instagram: @vetfinancialsummit Facebook: https://www.facebook.com/VetFinancialSummit LinkedIn: https://www.linkedin.com/company/vetfinancialsummit Email: Leadership@VetFinancialSummit.com

As of September 1st, interest began accruing on student loans again and payments will restart soon. In this special episode of the Veterinary Financial Podcast, we hope to clear up some of the confusion around student loans and share what everyone needs to know about payments, interest, and the new SAVE plan. - What’s going on with student loan interest? - What are some things to do before payments restart? - What are the 2 main repayment strategies? - What are the main repayment plans now? - Why are payments lower on SAVE? - What are the changes in interest with the SAVE play? - How to get a student loan consultation - Saving for the tax bomb Mentioned in this episode: Virtual Vet Financial Summit www.VetFinancialSummit.com/summit Student Loan Planner VFS scheduling link ($100 discount): https://www.studentloanplanner.com/vetfinancialsummit Meredith’s Student Loan Planner scheduling link ($100 discount): https://calendly.com/studentloanplanner-team/1-hr-consult-w-meredith-special-discount VIN Foundation Student Loan Repayment Simulator: https://www.vinfoundation.org/loansim Ways to connect with Veterinary Financial Summit: VetFinancialSummit.com Instagram: @vetfinancialsummit Facebook: https://www.facebook.com/VetFinancialSummit Email: Leadership@VetFinancialSummit.com

We asked Bash Halow, a Certified Veterinary Practice Manager, practice consultant, and owner of Halow Consulting about how money is discussed with veterinary teams, what it means to have an empowered team, and common mistakes when it comes to discussing money with clients. - How is money being discussed with veterinary teams? - What are some ways to talk about practice profitability with a team? - How can practice leaders have more productive conversations about raises and employee benefits with team members? - What are Bash’s thoughts on level or tier systems for techs and assistants? - What does it mean to have an empowered team? - How can practice leadership help team members become more comfortable discussing money with clients? - What are some of Bash’s favorite productivity tips? Ways to connect with Bash: BashHalow.com LinkedIn: https://www.linkedin.com/in/bashhalow/ Communication and Workflow in the Age of Stress: https://www.bashhalow.com/communication-and-workflow-in-the-age-of-stress/ Ways to connect with Veterinary Financial Summit: VetFinancialSummit.com Instagram: @vetfinancialsummit Facebook: https://www.facebook.com/VetFinancialSummit Email: Leadership@VetFinancialSummit.com

In this episode, the Veterinary Financial Podcast co-hosts discuss new and recent grads comparing job offers and prioritizing money and numbers over mentorship and the culture of a practice. - What are some examples of doing due diligence in learning about a practice? - What are some things to look for in a practice? - What are some things that are overlooked when it comes to compensation? - What details should be included in a contract? - What are some things to watch out for in a contract? Compensation is Not Just about the Salary: https://vetfinancialsummit.com/compensation-is-not-just-about-salary How to Calculate Production: https://vetfinancialsummit.com/how-to-calculate-production NerdWallet Cost of Living Calculator: https://www.nerdwallet.com/cost-of-living-calculator Do you like these roundtable episodes? Let us know at Leadership@vetfinancialsummit.com Ways to connect with Veterinary Financial Summit: https://VetFinancialSummit.com Instagram: @vetfinancialsummit Facebook: https://www.facebook.com/VetFinancialSummit LinkedIn: https://www.linkedin.com/company/vetfinancialsummit Email: Leadership@VetFinancialSummit.com

We asked Ivan Zak, veterinarian, serial entrepreneur, the CEO of Galaxy Vets, and passionate advocate for the well-being of veterinary professionals, about his recently published third annual Burnout Study in the Veterinary Profession, salary versus production-based pay structure, and work-life balance. - What are some of the most significant financial-related findings of the burnout study? - What are the pros and cons of production-based pay? - Which groups of veterinarians experience the highest rates of burnout? - What are the study’s findings on hybrid and remote work in the veterinary industry? - What are Ivan’s suggestions to make schedules more sustainable? - How can employers help their team members with work-life balance? - What unique benefits could an employer provide to help ease the burden of student debt and financial strain? Download the full Burnout Study Whitepaper: https://links.galaxyvets.com/burnoutstudy Download the Research Paper on Burnout Triggers in Veterinary Medicine: https://galaxyvets.com/learning-center/eliminate-these-six-burnout-triggers-from-your-veterinary-hospital/ Ways to connect with Ivan: LinkedIn: https://www.linkedin.com/in/dr-ivan-zak/ Galaxy Vets: https://galaxyvets.com/ Ways to connect with Veterinary Financial Summit: https://VetFinancialSummit.com Instagram: @vetfinancialsummit Facebook: https://www.facebook.com/VetFinancialSummit LinkedIn: https://www.linkedin.com/company/vetfinancialsummit Email: Leadership@VetFinancialSummit.com

We asked Dr. Mike Bugg, veterinarian, real estate investor, and co-host of The Veterinary Project Podcast, about his recently published book, money mindset, transitioning from clinical practice to real estate investor, and goal-setting. - Why did Mike decide to write a book? - What beliefs might be holding veterinarians back when it comes to money? - What are Mike’s thoughts on the state of the veterinary industry right now? - How did Mike make the transition from full-time clinical practice to real estate investing? - What are Mike’s favorite tips for goal-setting? ***Book Giveaway: https://vetfinancialsummit.ck.page/bookgiveaway Ways to connect with Mike: Michael Bugg’s website https://michaelbugg.com The Veterinary Project https://theveterinaryproject.com Instagram https://www.instagram.com/theveterinaryproject Book: https://amzn.to/3oZvlrE Ways to connect with Veterinary Financial Summit: VetFinancialSummit.com Instagram: @vetfinancialsummit Facebook: https://www.facebook.com/VetFinancialSummit Email: Leadership@VetFinancialSummit.com

We asked Steve Oehley, contract veterinarian in New Zealand, career coach, and host of the Next Step Vet podcast, about veterinary career paths, making a career switch, non-traditional careers, and helping veterinarians discover their strengths. - Has Steve seen an increase in vets looking to change their career paths since the pandemic began? - What are the most common concerns of those looking to change their career paths? - What are Steve’s thoughts on self-awareness when designing a career? - How can vets who are interested in non-traditional careers discover their strengths? - What does Steve mean when he says, “Passion is the RESULT of a good career, not the start of it.”? Ways to connect with Steve: LinkedIn: https://www.linkedin.com/in/steve-oehley/ Podcast: https://next-step-vet.captivate.fm/ E-mail: steve@nextstep.vet Ways to connect with Veterinary Financial Summit: VetFinancialSummit.com Instagram: @vetfinancialsummit Facebook: https://www.facebook.com/VetFinancialSummit Email: Leadership@VetFinancialSummit.com

We asked Isaiah Douglass, a Certified Financial Planner and Partner at Vincere Wealth Management, about his thoughts on the financial landscape for 2023, investing, working with remote teams, emergency funds, and Bitcoin. - What are Isaiah’s thoughts on the financial landscape for 2023? - Is veterinary medicine recession-proof? - What are the best questions to ask a financial advisor? - What is the all-weather investment strategy? - What are Isaiah’s thoughts on practice ownership? - What insights does Isaiah have for working with remote teams? - What do you do if you have an emergency fund and extra money in the bank? - Why should vets care about Bitcoin? Ways to connect with Isaiah Douglass: Vincere Wealth Management: https://www.vincerewealth.com/veterinarian Veterinarian Success Podcast: https://www.veterinariansuccesspodcast.com LinkedIn: https://www.linkedin.com/in/isaiah-douglass-mba-cfp%C2%AE-cepa-29255462/ Isaiah’s suggested Bitcoin resources: https://twitter.com/IDFinancial/status/1369672078182514691 Ways to connect with Veterinary Financial Summit: VetFinancialSummit.com Instagram: @vetfinancialsummit Facebook: https://www.facebook.com/VetFinancialSummit Email: Leadership@VetFinancialSummit.com

We asked Kayla Donovan, a veterinary practice management consultant with Transformation Group Business Advisory, about common practice management mistakes, practice valuation, exit strategy, and selling a practice. - What are the most common practice management mistakes Kayla sees? - What clients/practices typically seek out Kayla’s services? - What are some important factors to take into account when considering practice valuation? - What are some practice ownership trends Kayla is seeing? - When is the best time to plan an exit strategy? - What should a practice owner consider when selling a practice? Ways to connect with Kayla: Email: kayla@transformationba.com Website: https://transformationba.com/ LinkedIn: https://www.linkedin.com/in/kayla-donovan-73a88436/ Phone: (732)642-6321 Ways to connect with Veterinary Financial Summit: https://VetFinancialSummit.com Instagram: @vetfinancialsummit Facebook: https://www.facebook.com/VetFinancialSummit LinkedIn: https://www.linkedin.com/company/vetfinancialsummit Email: Leadership@VetFinancialSummit.com

We asked Jeff Rothstein, veterinarian and the founder of Mission Veterinary Partners, about the evolution of corporate medicine, practice ownership and management, and staffing in the current competitive job market. - What are Jeff’s insights on the evolution of corporate medicine? - What options are there for practice ownership outside of the traditional model? - How did Jeff decide to pursue the business side of veterinary medicine? - What sort of risk tolerance do you need to pursue practice ownership? - What are some common unnecessary expenses in a veterinary hospital? - What are some common practice management mistakes? - How is mentorship being offered in Jeff’s practices? - What are some key benefits practice owners can offer to stand out among the competition? Ways to Connect with Jeff: Email: jknis@sbcglobal.net Mobile: 734-645-0267 LinkedIn: https://www.linkedin.com/in/jeff-rothstein-97227347/ Ways to connect with Veterinary Financial Summit: https://VetFinancialSummit.com Instagram: @vetfinancialsummit Facebook: https://www.facebook.com/VetFinancialSummit LinkedIn: https://www.linkedin.com/company/vetfinancialsummit Email: Leadership@VetFinancialSummit.com

This podcast episode marks a milestone in the Debt-Free Vets Facebook Community. We recently reached 10,000 members! That’s 10,000 vets and vet students from 97 different countries all around the world. In this episode, the Debt-Free Vets moderators, Dr. Meredith Jones, Dr. Willie Bidot, and Dr. Chris Bidwell, talk about how and why the Debt-Free Vets group was started. - Who is the Debt-Free Vets group for? - How did Dr. Bidwell and Dr. Bidot become moderators? - What does the group name mean and what are common misconceptions? - What are the most common questions seen in the group? - What are the most controversial topics seen in the group? - What is planned for the group? Debt-Free Vets group: https://www.facebook.com/groups/DebtFreeVets Everything You Need to Know About Student Loans Right Now webinar: https://vimeo.com/user7519496/studentloans $100 discount on a consult with Student Loan Planner (referral link): https://www.studentloanplanner.com/vetfinancialsummit High Debt and Falling Demand Trap New Vets (NY Times, 2013): https://www.nytimes.com/2013/02/24/business/high-debt-and-falling-demand-trap-new-veterinarians.html Ways to connect with Veterinary Financial Summit: https://VetFinancialSummit.com Instagram: @vetfinancialsummit Facebook: https://www.facebook.com/VetFinancialSummit LinkedIn: https://www.linkedin.com/company/vetfinancialsummit Email: Leadership@VetFinancialSummit.com

We asked Eric Miller, Chief Financial Advisor and owner of Econologics Financial Advisors, about why practice ownership is so important for veterinarians, how to minimize the effects of inflation on business and personal finance, roles practice owners play in the practice, and exit strategies. - Why is practice ownership important for veterinarians? - Is practice ownership a great idea right now for new practice owners? - What are Eric’s thoughts on staffing in the age of The Great Resignation? - How can practice leaders minimize the effects of inflation on their business? - How can veterinarians minimize the effects of inflation on their personal finances? - What roles should a practice owner play in their practice? - How should a practice owner structure their own compensation? - What is a common financial mistake practice owners make? - What is an exit strategy and when do you start planning it? - What are some methods to offer equity in your practice? - How do you know how much to buy or sell a practice at? Ways to connect with Eric: https://EconologicsFinancialAdvisors.com/ YouTube - https://www.youtube.com/c/FinancialBeast LinkedIn - https://linkedin.com/in/ericisyourbfff Facebook - https://facebook.com/econologicsfinancial Ways to connect with Veterinary Financial Summit: https://VetFinancialSummit.com Instagram: @vetfinancialsummit Facebook: https://www.facebook.com/VetFinancialSummit LinkedIn: https://www.linkedin.com/company/vetfinancialsummit Email: Leadership@VetFinancialSummit.com

In this BONUS episode of the Veterinary Financial Podcast, we talk about the upcoming Virtual Veterinary Financial Summit. Happening on October 22-23, the Summit is a virtual event that brings veterinary professionals from around the world together to learn about money topics. Our goal is to empower attendees with the knowledge to make better financial decisions. - What makes the Vet Financial Summit different? - What’s on the Agenda for this year? - The two tracks at the Vet Financial Summit: Personal Finance and Practice Finance/Management - What’s happening each day? (Saturday and Sunday) - The Financial Goal-Setting Workshop Register for the Summit: https://vetfinancialsummit.com/summit/ Ways to connect with Veterinary Financial Summit: https://VetFinancialSummit.com Instagram: @vetfinancialsummit Facebook: https://www.facebook.com/VetFinancialSummit LinkedIn: https://www.linkedin.com/company/vetfinancialsummit Email: Leadership@VetFinancialSummit.com