Veterinary Law Newsletter Volume 22

As our team reflects back on 2022 and looks ahead to 2023, we want to thank all of our industry friends, clients and colleagues for the trust you place in us each day and our gratitude for your continued support and referrals. Please contact me if we can be of assistance with any matter. We wish you and your loved ones a happy holiday season and a healthy and prosperous New Year!

Peter Tanella, Esq.

VetChecks:

Q&A with a First-Time Veterinary Practice Buyer

The Veterinary Law Group at Mandelbaum Barrett is starting a new series of short interviews with past and current clients to get their unique take on the buying/selling experience to learn more about what went well and what they would have done differently.

In our first "VetCheck", attorney Justin Wade, Esq. sits down with a current first-time Veterinary Practice owner to discuss their transaction and the transition from clinical veterinarian to practice owner.

What Does It Mean to Hire the Right Veterinary Lawyer?

The old saying “a rose is a rose is a rose” does not apply to attorneys. Although an attorney should have a general working knowledge of several areas of law, no one legal practitioner can or should claim to be experienced in all industries.

In our new blog, Peter Tanella, Esq. and Melody M. Lins, Esq. discuss why veterinarians must hire the right veterinary lawyer who has the unique experience in a broad range of corporate matters, including the formation of new practices and MSOs (management service organizations), associate buy-ins, practice mergers, acquisitions and sales, employment law matters, and real estate.

Reliable veterinarians and veterinary support staff are an important part of running a successful veterinary practice.

In today's blog, Eileen Funnell, Esq., associate in the National Veterinary Law Group at Mandelbaum Barrett breaks down ways practice owners can retain veterinarians and staff while selling a practice. This in turn sets up a smooth transition and shows appreciation.

Our Veterinary Law Group uses its extensive experience in the industry to negotiate with buyers to provide the best possible outcome following the sale of their veterinary practice.

Veterinarians are Employers, too;

How to Recruit and Retain Employees in the New Economy

The last few years have tremendously altered our lives. And the “Great Resignation,” which saw some 47 million workers quit their jobs last year, has put enormous pressure on finding and retaining local talent. That isn’t any less true when it comes to Americans, their animals, and those who take care of them.

Our latest blog outlines four ways veterinary practices can attract and keep employees in the "new normal."

Pet Owners Are Loving This At-Home Vet Service - Here’s Why

Launched in 2021, The Vets is revolutionizing the veterinary industry by delivering high-quality, at-home vet visits that better the experience for everyone: vets, pets, and devoted pet parents. Marrying exceptional medical care with convenient, at-home appointments, The Vets’ at-home approach reduces pet anxiety during routine wellness exams, vaccinations, sick visits, and more. 

By delivering quality pet care in the comfort of their own home, pets are more relaxed, vets are able to provide exceptional care, and pet owners finally have a convenient solution. No more fighting to put your pets in crates (inducing their anxiety) and wasting time driving to vet appointments or sitting in waiting rooms. 

The Vets’ platform allows customers to schedule in-home visits online for a wide variety of services for their pets, including wellness exams, home lab tests, microchipping, vaccinations and health travel certificates. Practitioners are also able to provide client education, nutrition information and more in a no-rush pet care visit, building strong relationships with both pets and pet parents alike. 

The company also aims to address the growing issue of burnout among veterinarians. In order to do so, The Vets provides flexible working conditions, such as four-day work weeks and a daily appointment limit for veterinarians, and equips veterinarians with proprietary state-of-the art technology, empowering them to deliver the best possible care. 

“We are proud to offer a new and reimagined at-home veterinary experience that is seamless and stress-free to pet parents.”, said Lella Rafferty, CMO of The Vets. “We pride ourselves in building a team of industry leading veterinarians supported through training, development and advanced medical technologies to deliver the most comprehensive health care for your pet, all in a stress-free environment.” 

The Vets is proving the at-home care concept works. To date, The Vets has cared for over 35,000 pets and consistently achieved an NPS score of over 90 (3x better compared to traditional clinics). The Vets currently operates in 15 US markets and has plans to continue expanding in major cities across the US in the coming year.  

How to navigate the decline of U.S. veterinarians

From rising tuition costs to an increase in pet ownership since March 2020, there are many causes behind the current shortage in U.S. veterinarians. When navigating this challenging reality, today’s veterinary hospital owners, associates, and veterinary school students should look for opportunity.

Today’s veterinarians are stretched thin. According to a recent survey conducted by the American Pet Products Association (APPA), U.S. pet ownership increased from 67% of households to 70% in 2020. As the older generation of veterinarians retires, it’s clear that there’s ample opportunity — and the need — for aspiring hospital owners and recent veterinary school graduates to pursue their dreams.

Peter Tanella, Esq.'s ongoing column in Today's Veterinary Business "Legal Lingo" breaks down the essential issues veterinarians need to know.

“A veterinarian’s sale of a practice is a life-changing and multifaceted event. More often than not, the seller is overwhelmed by the numerous considerations suddenly in play.” 

In the December/January issue, Peter uses a real-world example to discuss veterinary practice sales. “In addition to continuing to run a successful hospital, the seller must give careful thought to a potential purchaser’s fit and culture and whether to work for the buyer, retire or go elsewhere. The seller also must review and negotiate complex documents with the assistance of legal counsel.”

In November, Peter Tanella, Esq., Chair of the National Veterinary Law Group at Mandelbaum Barrett presented to the Michigan State University Chapter of the Veterinary Business Management Association. He spoke on the topics of "Employment, Start-Up & Buying a Practice Contract Red Flags/Pitfalls."

Our National Veterinary Law Group had a great time at the NY Vet Show last month. They have enjoyed catching up with industry friends and colleagues as well as connecting with new ones.

Peter Tanella, Esq., Chair of the National Veterinary Law Group at Mandelbaum Barrett exhibited at the New York State Veterinary Conference at Cornell University College of Veterinary Medicine this fall. He also gave a dinner presentation with industry colleagues Monarch Business Consulting discussing practice sales and acquisitions.

The year may be coming to a close, but our National Veterinary Law Group at Mandelbaum Barrett is already getting ready to start 2023. Practice Chair Peter Tanella, Esq. and associates Justin Wade, Esq. and Eileen Funnell, Esq. will be exhibiting at North American Veterinary Community (NAVC)'s VMX Meeting in Orlando, Florida from January 15th to 18th. Make sure to visit our team at Booth 916 and email astryker@mblawfirm.com if you would like to set up a meeting with Peter while at the show.

The greatest compliment to us is client satisfaction and something which we pride ourselves on. Thank you to Dirk DeRolf, DVM for the kind words for Peter Tanella, Esq. and Justin Wade, Esq. of our National Veterinary Law Group. It has been a pleasure working with you during the sale of your veterinary practice.