We are certainly experiencing events that no one could have ever predicted.
Everyone in the entire country and the world has been affected by this terrible
virus called COVID-19. There is still much to learn about COVID-19 and much
speculation about the long-term effects to our economy.
By now many of you have applied for (and possibly) received some sort of government
assistance to get your businesses through this crisis.
The Payroll Protection Program is a great tool for many practices and should be considered if you
haven’t already applied for this particular program.
As we look for positives through trying times, we find that overall, most
Veterinary Hospitals are doing quite well. The majority of practices we have
contacted are only down 10-15%. Many practices that have a large boarding revenue are
down slightly more than a non-boarding hospital.
Veterinary businesses have again shown that they are stable – for the most part – in an
economic downturn. This bolsters the opinion that many consolidators had when
they entered the veterinary space and began to acquiring practices.
This is a silver lining for most areas of the country where demand for practice
ownership remains strong. Hopefully, the country is about to open with
continued guidelines for safety and the “new” economy is about to get cranked
up. Let’s be positive and get ready!!
If you are concerned about how COVID-19 has affected the marketability or value
of your practice, please reach out to your local TPSG representative for an
Len Jones, DVM
Total Practice Solutions Group
11911 US HWY 80 W
Shorter, AL 36075
Office phone: 334-727-2067
Cell Phone: 334-703-5837
E-mail: [email protected]