VTMED 6544 - Veterinary Practice Management

Spring. 1 credit. S/U grades only.

Prerequisite: VTMED 6896 sec. 020 Financial Statements. Enrollment limited to: third-year veterinary students.

J. Colon.

This course intends to teach veterinary students essential concepts of establishing and managing a veterinary practice by pairing classroom deliveries with guided exercises. Topics include types of business organization, financial and organizational management, market analysis, services and fee structures, financial analysis, forecasting, budgeting and proforma financial statements, capital and funding, leverage, activity-based costing, service marketing, lean inventory management, capital expenditure analysis, time value of money, management of human capital, and practice value creation.Students will learn how to: establish a business organization, perform a market analysis, determine service offerings and required resources, develop proforma financial statements, determine capital needs, price a service, analyze performance ratios, create a marketing plan, develop human capital and lean management skills, analyze equipment purchasing, and implement value delivery into organizational practice management.