Frequently Asked Questions
Selling your practice is a critical decision that can have an impact on both your personal and professional life. We believe the best decisions are informed decisions, and you are bound to have more than a few questions along the way. A few commonly asked questions are below, but you should feel free to CONTACT US and we’d be happy to discuss yours!
We have found that general practices with at least 2 full-time DVMs and $900,000 in annual revenue are best able to benefit from a partnership and realize the value VPP can provide from a practice management perspective. In rare instances, specialty/ER-only practices can also benefit from our model.
Our partnership agreements include the right for our partners to sell their remaining ownership interests to VPP at agreed upon times in the future. The purchase price for these future transactions is calculated using a simple formula that is decided before the partnership is even formed to simplify the transaction.
All major decisions require the mutual agreement of the partners in the practice – which will include VPP and the primary DVM owner.
No. Changes we'd like to see made, if any, are discussed prior to closing. We make every attempt to maintain continuity throughout the client experience, including staff interactions, and only advocate replacing a staff member if they are unable or unwilling to perform the job asked of them. Unlike some other corporate owners, VPP focuses more intently on growing revenues, not squeezing costs, like labor, out of the practice.
Yes, VPP defers to its co-owners with respect to these types of patient care decisions. However, we do negotiate attractive agreements with particular distributors and might advocate purchasing your preferred products through these companies.
When excess cash is available to the practice, we typically make monthly distributions.
VPP's accounting team handles these processes as part of its responsibilities to the practice.
Many of our partnerships are structured in such a fashion that associates can be offered the opportunity to purchase a stake in the practice at pre-defined times in the future.
Yes. If you are at a point in your career where you are interested in selling 100% of the practice, we will purchase 100% of the practice from you. In such circumstances we would be willing to consider a practice with 2-3 veterinarians, some of whom would have an interest in ownership in the future. We believe in the importance of veterinarian ownership of the profession and prefer to co-own the clinic with a veterinarian partner.