What’s Going to Change and Why?
This is one of the most frequently asked questions that we get. It’s also one of the most important things for any seller to understand as they consider their succession plan. The truth is that a lot of things are going to change and if anyone tells you otherwise, they’re not being very forthright. From benefits to purchasing to payroll, a lot of the day-to-day operations will change. While that may not seem like a huge deal, if these things aren’t handled appropriately, they can make life very difficult.
At MVP, we have a dedicated operations and integrations team to help with change management in order to make the transition period smooth so that everyone is comfortable with the new team. Here’s a quick overview of what does and doesn’t change:
|Business Focus||Hospital Owned||We Support|
|Existing Standards of Care||✔|
|Your Client Relationships||✔|
|Benefits (401k, PTO, CEO, Healthcare)||✔|
|Finance & Accounting||✔|
|Talent Acquisition (Finding & Hiring Staff)||✔|
|Marketing (New Website + Marketing Support)||✔|
We don’t change your standards of care or the way that you practice medicine. We believe that good medicine is good business and frankly, if you aren’t already practicing good medicine, then we won’t be having a conversation about a partnership. We also believe that your hospital should continue to manage and own the client relationship and community engagement. You know your clients and community better than we ever could so it would be silly to think we should take over that aspect of the business. We are here to support you in these functions, but ultimately, we believe that the medicine and the client/community relationships are best managed by the hospitals as they always have been.
We support all other business functions (benefits, HR, operations, finance & accounting, talent acquisition, and marketing). In most cases, sellers are happy to have more time to focus on the medicine or other aspects of their lives which makes for an easy transition. In some cases, practice owners are averse to any change and that is not the type of partner that we’re looking for. We can help your practice grow by investing in your team and by providing world-class support for your hospital. Our business is driven by our mission to become the employer of choice in veterinary medicine and we believe that if we can make our team happier, clients will be happier, and we’ll all continue to grow. We do these things while we negotiate better prices from your vendors and drive new client growth so we can afford things like better benefits, profit sharing, and new medical equipment.
If you’re interested in partnering with a group that puts its people before profits and your open to the concept of change, you are the type of partner that we’re looking for.