David McCormick, MS, CVA is a veterinary practice appraiser, broker, and transaction specialist with Simmons & Associates. For over 20 years, he has been facilitating successful practice transactions and helping owners improve their practice’s profitability. He teaches nationally and internationally on topics ranging from practice value and practice financial health, buying and selling a practice, exit planning, and other practice ownership issues.
8:00 AM–9:15 AM
Practice Financial Management 101
This program covers the financial foundations that all new practice managers and new owners need. Attendees will learn financial statement basics and then how to use these statements for practice financial management in ways that can make a difference. This session also looks at common management mistakes and how to implement best practices to avoid them.
9:25 AM–10:40 AM
Diagnosing Financial Diseases
What makes a financially healthy practice and how can you tell? Your practice financial data and tax returns can be powerful diagnostic tools if you know how to use them. Learn why and how to do more with your data! We will look at how you can use them to help diagnose your practice’s financial health and, when necessary, develop a treatment plan for improvement.
10:50 AM–12:05 PM
Practice Ownership? Yes, You Can!
Interested in practice ownership? This session will dive into the entire process—from finding a practice to closing on the transaction and starting the transition. Buying a practice is no longer “a spit and a handshake.” When done correctly, the process can be smooth and timely. When not done well, the pitfalls, perils, and miscommunications can be a nightmare.
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