veterinary consolidation

In this episode of Consolidate That!, we talk to Andrew Schultz, Business Development & Clinical Services for Midmark Animal Health and Project Director for Midmark Academy.

Andrew chats about implementing anesthesia checklists, simulation-based training, and how a desire to bring the benefits of immersive simulation training evolved into veterinary education.

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Topics discussed:

• Fear of anesthesia is the number one reason pet owners do not follow recommendations for dental procedures
• Checklists can help avoid many anesthetic complications
• 2020 AAHA Anesthesia Guidelines
• Robert Keegan, DVM, DACVAA, the inventor of the anesthesia simulation program
• Simulated learning offers a safe environment

This week, Steve Kemph, Vice President of Field Operations at Galaxy Vets, joins Ryan Leech and Dr. Ivan Zak to talk about the nuances of regional management and how to impact change at the hospital.

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Topics discussed:

• Steve's career story in the veterinary industry
• Сriteria for a successful regional manager
• How to affect change in a hospital
• The value of having a DVM and MBA
• Operating model of scaling

Shannon Gervais, Director of Veterinary Hospital Integrations at Galaxy Vets, is welcomed by Ryan Leech and Dr. Ivan zak to discuss post-acquisition clinic integration, how the WSJF prioritization framework helps in the stabilization phases, and the importance of managing the change accurately.

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Topics discussed:

• The Integration process at Galaxy
• 3 Stabilization Phases
• How the WSJF (Weighted Shortest Job First) framework is used at Galaxy Vets

Today on Consolidate That! Dr. Ivan Zak and Ryan Leech continue discussing the value creation plan by looking at a regional level within the organization.

We take a deeper dive into Galaxy Vets’ regional structure and chat about the value creation items such as capacity management, diversity of tasks for veterinary professionals, centralized scheduling, and more.

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Topics discussed:

• What is a Solar System Model
• Another look at the use of clinic space
• Benefits for hospital teams: flexible scheduling and task variety
• Internal software: UPMO application

Kristine Stump, the VP of Mergers & Acquisitions at Galaxy Vets, joins us this week to discuss planning and executing successful mergers and acquisitions. During the conversation, Kristine shared her knowledge of how sellers can better prepare for the sale of their company, what a buyer is looking for, and what success looks like in M&A.

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Topics discussed:

• What does the due diligence process look like
• How to become a prepared seller
• What should the seller know about the buyer
• Ways to have a smooth transition
• What successful M&A looks like at Galaxy Vets

In this episode, Ryan and Ivan dig into the initial steps new Galaxy Vets clinics undergo post acquisition and the importance of trust throughout. Learn what to look for in your own value creation plans. 

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Topics discussed:

• What are the classic changes after the acquisition
• Galaxy Vets’ ownership program
• Operational excellence as a strategy
• Effective communication of the changes

This week, Ryan & Ivan welcome Michael Greenberg of the Veterinary Care Accessibility Project to talk about one of the most significant challenges in our industry - access to veterinary care. Hear more about the developed metrics and data-driven tools to help improve access to care.

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Topics discussed:

• One of the greatest challenges in companion animal welfare today
• Metrics and data-driven tools developed by the Veterinary Care Accessibility Project
• What is the veterinary care accessibility score
• Major barriers to vet care

The Founder of the National Center for Employee Ownership, Corey Rosen, Ph.D., and author of tax code 1042 joins Ivan and Ryan to uncover the benefits of ESOP for employees and business owners as an exit strategy.

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Topics discussed:

• What is an ESOP (Employee Stock Ownership Plan)?
• The only Employee Owned company in veterinary consolidation
• Employee ownership in the veterinary domain
• Ways to share ownership
• Barriers for employee ownership in the veterinary business

This week on Consolidate That!, Ryan and Ivan speak with Captain Rory Lubold, Vice President of IT at Galaxy Vets, about data security for veterinary clinics and the key aspects of multicultural leadership.

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Topics discussed:

• How to evolve technology for veterinary professionals
• Communication and adaptation of changes in the hospital
• Data protection tips for the vet practice

Dr. Donna Gurney, the Founder of Tutum Psychology, talks about the concept of resilience and factors that influence levels of resilience. Our hosts explore practically application and steps that can be implemented across the vet industry.

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Topics discussed:

- Resilience

- Individual- and occupation-specific factors

- Comparison of resilience factors in medical and veterinary domains

- Ways to improve people’s resilience

Dr. Andrew Ciccolini joins Ivan and Ryan to discuss creating a non-profit component within an organization. As the Director of Non-Profit Initiatives at Galaxy Vets and Medical Director at the National Mill Dog Rescue, Dr. Ciccolini leads the mission of Galaxy Vets Foundation, strategic corporate social responsibility, and elaborates on how the organization can benefit from the charity element.

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Topics discussed:

- Andrew’s career story in the vet industry

- Galaxy Vets Foundation's mission

- What is corporate social responsibility

- Where a Foundation fits into an organization

This week on Consolidate That! Ryan and Ivan are joined by Laura Durfee, Vice President of People and Culture at Galaxy Vets, for a discussion about employee satisfaction and the importance of the feedback loop.

Laura shares her vision about the bottom-up approach to culture and the role data plays in employer success in retention.

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Join our webinar “Measuring to Improve: A Data-Driven Approach to Employee Well-Being”: https://bit.ly/3a5jrW4

Topics discussed:

- Human approach to culture

- Ways to measure and promote employee satisfaction

- What role does data play in employer success in retention and culture

- Importance of the feedback loop

This week, Ryan Leech and Dr. Ivan Zak sit down with Tina Stofiel, VP of Membership Services at Galaxy Vets, for a conversation about the membership services.

The conversation starts off with a brief understanding of what memberships are and how they differ from wellness plans. Hear about the Galaxy Vets’ vision of the holistic approach to membership services and the opportunities to increase access to care.

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Topics discussed:

- Tina’s career story in the veterinary industry

- The difference between wellness plans and membership models

- The holistic approach of membership services

- Designing the personalized care concept

- Opportunities and expectations from Galaxy Vets membership models

Dr. Taylor Miller of Not One More Vet (NOMV) talks about how wellness education and normalizing mental health conversations can help vet professionals deal with challenging client relationships.

Dr. Miller expands on her belief that our own health begets improvements in client health.

Topics discussed: 

• Impact of curbside practice on client communication
• Impact of the pandemic on mental health
• How anxiety changes the way our brain processes information
• Consequences on client relationships and veterinary professional QOL
• The Veterinary Oath initiative and NOVM statement

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This week on Consolidate That! Ryan and Ivan speak with Dr. Helene Seljenes Dalum, a veterinarian and  Ph.D. candidate at the University of Oslo. Helene shared some of the results of a recently published study on vets in Norway and outlines the necessary prerequisites to reduce mental health stressors.

Topics discussed: 

• About #NORVETproject
• The stigma of mental health
• What are the prerequisites to prevent mental health issues
• The role of the organization in helping avoid burnout

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Dr. Sarah Wallace joins Dr. Ivan Zak and Ryan Leech to talk about Telehealth and its reach across the entire organization. Dr. Sarah guides us through her deep expertise of growing veterinary medicine virtually.

Topics discussed: 

• Dr. Sarah’s path to Galaxy Vets
• Increasing hospital capacity through the implementation of telemedicine
• The misconception that telemedicine is inferior to in practice medicine
• How a department should be viewed as an entire ecosystem in the Business Model Canvas

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Ryan Leech and Dr. Ivan Zak of Galaxy Vets talk in-depth about the Business Model Canvas and how it beats out the old school business plan model! 

Our hosts share the details outlined in the Business Model Canvas, including value proposition, customer relationships, channels, revenue streams, and more. Tune in to hear all you need to know about the revolutionary new way Galaxy Vets is approaching its business model!

Topics discussed: 

• How Business Model Canvas serves to replace the old business plan
• The nine sections outlined in the Business Model Canvas.
• Three things a business model needs to achieve: create, deliver, and capture value.
• The importance of identifying and understanding the connection between the customer and the value proposition.
• The application of the Business Model Canvas within Galaxy Vets.

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Galaxy Vets’ Head of Finance, RJ Peters, joins us to discuss M&A value stream mapping, creating a people-first culture and his early impressions of Kanban methodology.

RJ shines a light on what pawnshops, childcare, and the veterinary industry have in common! 

Topics discussed: 

• RJ’s unique background in consolidation
• Utilizing Kanban from day one
• Strategies for collaborating across the organization
• How happiness leads to success

Galaxy Vets COO Emmitt Nantz talks about the theory of constraints, value stream mapping, subjective-objective assessment plans (SOAP), and “the five why’s.” For each of these concepts, Emmitt provides an example of how they can be applied in a veterinary clinic setting in order to reduce bottlenecks, improve employee and client experiences, and ultimately make your organization run as efficiently as possible.

Topics discussed: 

• Applying the theory of constraints to veterinary industry consolidation.
• Challenges of scaling processes from one hospital to many.
• A key to preventing bottlenecks in your organization.
• Value of “the five why’s” concept and an example of how this could play out in a veterinary hospital setting.
• The method that Galaxy uses to find solutions to their problems.

Cory Friedman, Managing Director of the Veterinary Division at Alera Group, joined to talk about how consolidators approach health insurance and other benefits.

We tackled the question of benefits from an acquisition and integration standpoint and the inevitable challenges within consolidation. Cory shared some of the best practices when it comes to the delicate balance of consolidating benefits post-acquisition.

Topics discussed: 

• How to approach the question of benefits from an acquisition and integration standpoint.
• Incremental steps to take to achieve uniform benefits and the difficulty of doing so. 
• The best time to announce to your employees that your practice is being acquired.
• Advantages of acquisition and the importance of communicating them to employees.
• Why you should take the steps to consolidate benefits as soon as possible.
• The value of consulting an advisor in the consolidation process.