Consolidate That!

Today we are doing one of our first dives into Galaxy Vets by bringing in a special guest from inside the organization, Dr. Lauren Catenacci, our Head of People and Culture.

The conversation starts off with a brief understanding of what culture is and its relationship to core values. Hear about the three levels of analysis used to assess the cultural fit of potential clinics and some practical examples of culture within an organization.

Topics discussed: 

• An explanation of organizational psychology and defining culture. 
• Building culture from your core values.
• How culture can evolve.
• The three levels of analysis to assess the cultural fit of clinics.
• Some examples of how culture plays out in practice and the psychology underneath.

Ryan Leech and Dr. Ivan Zak cover the most recent burnout survey results. This year's survey looks at the change and dynamics of burnout from 1,600 veterinarians across different demographics, including gender and work-life balance. 

Our hosts share the innovative techniques and experiments that Galaxy Vets will be implementing that support the ultimate goal: preserving the mental health of each of employees to mitigate the high rates of burnout and suicide in the industry.

Topics discussed: 

• Key findings of the survey on burnout.
• What factors contributed to lower burnout rates among veterinarians.
• How consolidation can bring positive results to our industry when done right.
• Five core values of Galaxy Vets.
• Some insights for the onboarding process at Galaxy Vets. 

Ivan and Ryan are thrilled to be returning with this first episode of our second season, where they discuss the formation and insights into Galaxy Vets, including strategy, leaders, practices, and more. 

Topics discussed: 

• Kicking off with an exciting pivot; season two includes our Galaxy Vets journey.
• Framework called Three P's and Three S's.
• Galaxy Vets mission: giving veterinary medicine back to veterinarians.
• Reinventing how we do vet medicine, vertical integration, providing equity, and more.

Austin Hair, Partner at Leaders Real Estate Development, shares his experiences locating, leasing, acquiring, and moving to the perfect property. We discuss how long-term leases protect the tenants, and when is the right time to reach out for help from a broker.

Topics discussed:

• Choosing to buy or lease, depending on the lifecycle of your consolidation journey.
• How long-term leases actually protect the tenants.
• Establishing your location vs. moving to a new space
• Best strategies when negotiating a lease.

In this episode, we sit down with Dr. Edward Kanara, Founder of Kanara Consulting Group, to talk about the difficulties of unified management, and how businesses can only function optimally if leadership decisions are made with best medical care practices as the priority. 

We discuss the challenges of differing goals between management and veterinary medical practitioners, and how with the right approach these spaces can be unified to create thriving businesses that still prioritize patient care.

Topics discussed:

• The difficulties of unified management and creating win/win value propositions.
• How leadership must understand that employees have to believe in what they're doing. 
• The importance of explanatory communication coming from corporate. 
• The importance of workplace culture; staff retention is crucial in the current environment.
• Ed brings to the table the potential benefit of hybrid commission models.

Instinct Science Software’s Founder and CEO, Dr. Caleb Frankel, joins us today to guide us through the changing dynamics and goals in the veterinary market, and how Instinct is becoming a full-blown PIMS. Diving into software as a huge factor in work-life balance and burnout, this episode focuses on the ways that it's also a definitive avenue to resolve the burnout crisis. 

Topics discussed:

• How staffing issues and burnout are tied to software choices.
• How PIMS providers frequently appear and disappear, and the challenges they face. 
• Caleb talks about tackling the tricky issue of data protection.
• Discussing consolidation issues of how management and vets have differing goals.
• How consolidators need to take heed of the warning signs regarding staff retention.
• The ways Instinct is unique; easy installing, solving ancillary problems, and more!

Today we are joined by Klint Kendrick, the author of The HR Practitioner’s Guide to Mergers and Acquisitions Due Diligence, to cover various topics, from how to incorporate Maslow’s hierarchy of needs into your business, to the integral role that trust plays in organizational leadership. 

Without the proper communication and change management plan, employees can be left feeling confused, stressed, and insecure, which can have tangible consequences for your staff turnover, customer retention, and ultimately, your bottom line. 

Topics discussed:

• A breakdown of the roundtable approach that Klint takes to M&A.
• How to help employees start their ‘change journey’.
• Why you should inform employees of your plans at the appropriate time.
• The hard factors to consider when doing due diligence: finance, operations, and compliance.
• The soft factors to consider when doing due diligence: leadership and culture.
• Insights into Maslow’s hierarchy of needs and its role in your organization.

Our guest Shawn McVey of Pathway Vet Alliance joins us to cover the keys to effective process implementation in a veterinary hospital, the importance of structure in the workplace, and the five main issues experienced in veterinary practices.

Topics discussed:

• Main cultural issues that are experienced in veterinary practices.
• Keys to implementing processes effectively. 
• The importance of structure in the workplace. 
• Five main issues experienced in veterinary practices. 
• Examples of processes that should be in place

Today we are joined by Angela Morisette from Scratchpay. She walks us through Scratchpay's various services and pivots and how they go to market with large consolidators. 

We also hear a detailed description of the user's experience and some interesting findings when working with veterinary groups.

Topics discussed:

• How Scratchpay differs from CareCredit.
• The different ways that Scratchpay goes to market with large consolidators.
• How sending out a digital invoice versus a paper statement drastically increases collection rates.
• How Scratchpay is complementary to both insurance and wellness plans.
• Diving deeper into problem-solving for common wellness plan issues. 

Dr. Tom Bankstahl, CEO at Veterinary United, joined us for this inspiring conversation about his aspirations for a long-term veterinary-owned group and keeping a safe space for veterinary medicine.

Tom also runs us through how he implements his People First policy, how he is creating spaces for people to grow as people as well as professionals.

Topics discussed:

• Putting people first, and Tom's implementation of that principle in his organization.
• What is NLP, and how it can be used to help people understand their emotions.
• The power of happiness. 
• Attracting people that mirror your energy.
• Tom speaks about the growth process as an independent practice, versus backed by investors.