Support for Independent Veterinary Practices: The IVPA and Beyond
Independent veterinary practice ownership is often considered an elusive goal, an impossible pipe dream for veterinarians working in an increasingly corporate world. However, the dream of practice ownership is more attainable now than in recent years, owing to the perfect storm of market conditions and an explosion of support networks in the veterinary community, such as veterinary-specific bookkeeping provided by our VetBooks team.
The Independent Veterinary Practitioners Association (IVPA) is one organization dedicated to supporting, uniting, and empowering independent practice owners across North America. If you’ve set your mind on ownership but aren’t sure how to get there, joining the IVPA should be your first step. Here’s a closer look at the IVPA and other organizations supporting practice owners, and why independent practice ownership is worth another look.
What is the Independent Veterinary Practitioners Association?
The IVPA is a membership organization that connects independent practice owners to provide them with the benefits of a large network without compromising independent values. The group’s mission is to advocate for the unique needs of independent veterinarians, promote the value of independent practices to communities and the profession, and ensure that clients understand their choices in veterinary care.
IVPA members benefit from group buying power, wisdom, and professional camaraderie, helping to eliminate many struggles independent owners have historically faced. Key benefits include:
- Exclusive teleradiology services
- Product and service discounts
- Marketing support
- Business education
- Networking
Joining the IVPA helps independent veterinary practitioners access valuable resources, connect with like-minded professionals, and contribute to the advocacy movement supporting independent practices in the veterinary industry.
If you join the IVPA, consider looking into these other organizations, too:
- Veterinary Growth Partners (VGP) — VGP is a practice management and group purchasing organization (GPO) that connects veterinary practices with resources to help them maximize efficiency and optimize profitability.
- Veterinary Management Groups (VMG) — VMG is a community of veterinary practice owners that collaborate through peer groups, shared experiences, and access to exclusive financial data.
- VetPartners — VetPartners is a group of veterinary business experts dedicated to serving the veterinary profession. They offer expertise in management, finance, legal, marketing, human resources, architecture, and IT.
- Veterinary Hospital Managers Association (VHMA) — VHMA supports veterinary practice managers with resources for professional development, certificate programs, and a network for professional support.
Why do independent veterinary practices matter?
There’s a place in every market for corporate groups of all sizes, but the market needs balance. Independent practices keep us grounded and promote healthy competition, which drives innovation. Profits from independent clinics stay in the community and support the local economy, something that can’t be said for larger organizations. Additionally, practice ownership can provide a path to lasting wealth and freedom for generations of veterinarians.
Now is the time for independent practices to thrive
The technology and business support services available to independent practices have significantly matured, leveling the playing field with larger groups. And while corporate consolidation has accelerated, independents have several significant advantages over private equity.
Independent practices offer unique value to communities and the veterinary industry as a whole. That’s why, along with my friend Matt Salois, I’m giving a talk about the revival of independent practice ownership at this year’s WVC Annual Conference.
Join me and Matt Salois, current president of Veterinary Management Groups (VMG) and former chief economist of the AVMA, on March 3 in Las Vegas as we present “Proudly Independent: Why the Conditions Are Right for a Renaissance of Independent Veterinary Practice Ownership.” We’ll talk about how we got to where we are, why now is the time for independent practice owners, and what we can do as individuals and as an industry to support independence.
If you want more details about the independence resurgence but can’t attend WVC this year, stay tuned for our next blog post. In the meantime, contact us to learn how VetBooks services can provide the financial foundation independent practices need to thrive.
