The University of Florida College of Veterinary Medicine was an early advocate of training veterinary students in the importance of business skills for success in veterinary practice, launching its own program in 2014 and continuing to grow. Masu.
The Veterinary Business Management Certificate Program is an innovative opportunity to develop business skills through a customized curriculum and was the brainchild of the university's current dean, Dana Zimmel, DVM, while she was overseeing operations at the UF Veterinary Hospital. is. Led by Martha Mallicote, DVM, the program continued.
While other schools offer business-related academic content, UF's academic business administration certificate program offers veterinary education in business and personal finance, practice ownership, business and employee management, and career path preparation. It is a curriculum that aims to further the education of students and remains unique. “It's a big animal medicine specialist and Weeks Endowed Clinical Associate Professor at the University of California,” said Malicott.
As of May 2023, 271 students have earned this certificate.
Over the past five years, 31% of undergraduate veterinary students who completed a certificate program purchased a practice, compared to 22% of graduates who did not earn a certificate. And most certified graduates who don't already own a practice say they want to start one.
Although the university also offers other certificate programs such as shelter medicine, aquatic animal health, and food animal medicine, the business administration certificate program boasts the largest number of certificate holders.
The first class of students in UF's Veterinary Business Management Certificate Program graduated in 2014.
Although there is no metric that definitively links post-graduation DVM salaries to participation in business administration certification programs, administrators said that should not be a problem as long as undergraduate veterinary students understand contract negotiation.
According to the university's Office of Academic Affairs and Student Affairs, the average salary for all university veterinary graduates for both men and women who work in clinical settings is $135,720, while the national average salary for clinical staff is $125,449.
Two University of Florida College of Veterinary Medicine graduates, Alexis Brandenburg DVM ('17) and Taylor McClendon DVM ('19), have chosen to acquire small animal and equine medicine practices, respectively. Both said the skills they gained through the program helped them navigate the ins and outs of business ownership.
“I've always been interested in owning a business, being my own boss and being in control of my own future,” said Brandenburg, who purchased the Hunter's Crossing Veterinary Center, a small animal clinic in Gainesville. said. “The Business Management certification was the perfect way to gain the knowledge I needed to pursue those dreams.”
Brandenburg said she never took business courses during her undergraduate studies because she was busy preparing for veterinary school.
“Going into veterinary school, I felt behind in my knowledge of business ownership and, to be honest, money management in general,” she said.
One of the most valuable aspects, she said, is a rotation in which students visit veterinary hospitals and evaluate day-to-day business operations in terms of business expenses, financial records, building specifications, and more.
“We analyze all the numbers and see where we're thriving and where there's work to be done,” Brandenburg said. “You can see how all the elements come together to make or break your business.”
Learning about contracts is also particularly valuable, she said.
He said some young veterinarians are on contracts that are poorly paid and overworked, leading to burnout, and that in other jobs, contracts pay vets well but don't last long. He added that he may be requesting an impossible number of cases.
McClendon said the important thing she learned is that outsourcing is OK.
“Rather than doing my own taxes, I hire a CPA. I hire a company to do my payroll,” McClendon said. “I do most of the personnel management myself.''
While the benefits the certificate program provides to students are an important aspect, the importance of relationships with universities, practicing physicians and the state's veterinary community cannot be overstated, Malicott said.
Mallicott said the veterinarians who allowed students to read through the books as they earned their college certificates were extremely helpful, and the program would not work without them.
Another part of the program's value is that it refutes the idea that any practice is corporate-owned, Mallicott said. It also shows that student loans do not prevent veterinary medicine graduates from buying a practice.
In the future, Mallicoat hopes the program will expand to new audiences, including veterinary students from other schools, alumni and veterinarians who need help making business decisions.
Ms. Brandenburg said she highly recommends the program.
“Everything I learned in the program, from financing and staffing to contracts and communication skills, has helped me as a clinic owner,” she said. “There is so much to gain from the program and practicing ownership is extremely rewarding. As veterinarians, we spend our lives helping animals, but as clinic owners, , not only can you help animals, but you can also take care of the people who work for you.”
McClendon added, “As the owner of my practice, I feel so empowered when I see my practice thrive and see my employees go out there and achieve great results. ” he added.
She said she wishes more universities offered programs similar to theirs.
“What I would say to people is, if you have any interest in practice ownership, pursue it,” McClendon said. “Ask questions. It worked great for me, and I have a perfect path. I can't recommend it enough. Now that I'm the owner, I can't work for anyone else anymore.”
