What does an economist see when he looks at independent veterinary practice? In this episode, Martin and Peter sit down with Dr. Matt Salois, President of Veterinary Management Groups (VMG), for a wide-ranging conversation about where independent practice is headed, what's holding it back, and why the practices willing to be disciplined and intentional are the ones with the brightest future. Matt also tackles Question #3 of the Stethoscope & Spreadsheet Seven, and his answer might surprise you.

In this episode:

• Why independent veterinary practices are far more sophisticated than they're given credit for
• The two biggest headwinds: complexity and a shrinking margin for "good enough"
• The key tailwinds: speed, agility, and the ability to make decisions close to the point of care
• VMG's "Proudly Independent" initiative, shifting the conversation from fear to identity and strength
• Why the future of vet medicine will be shaped by productivity and execution, not chasing the next shiny technology
• Navigating generational differences in a profession with five generations of vets, owners, and employees
• VMG's mission to tell a bigger story about why independence in veterinary medicine is worth preserving

Timestamps:
00:00 — Intro & welcome
00:47 — Introducing inaugural guest Dr. Matt Salois
02:01 — Matt's background: economist, recovering academic, and how he found veterinary medicine
03:06 — Why Matt's path into vet med was serendipity, not strategy
04:21 — Peter takes credit for bringing Matt into the profession at AVMA
04:43 — Matt's early career: chief economist for the state of Florida
05:13 — From Elanco Animal Health to AVMA to VMG
08:01 — How Matt came to lead VMG, and the phone call that started it all
10:29 — What VMG members are dealing with day to day
10:51 — VMG's role in one sentence: helping independent owners navigate complexity
13:16 — Where is the profession going? Unpacking the headwinds
16:04 — Complexity as the defining challenge of independent ownership today
20:56 — The tailwinds: why independent practices have real competitive advantages
23:31 — Independent practices start from a higher bar than most businesses and don't get enough credit
23:51 — VMG's "Proudly Independent" initiative: from defense and fear to identity and strength
26:05 — Navigating five generations of vets, pet owners, and employees simultaneously
27:25 — On generational divide: humility, adaptability, and letting go of "the right way"
30:04 — What Matt is most excited about at VMG
30:47 — VMG by the numbers: nearly 2,400 member practices and growing
31:11 — Helping members become stronger operators and leaders, not just connected peers
33:20 — Technology, AI, and why execution matters more than innovation
34:56 — It's still about the people; technology is adjunctive
35:20 — VMG's mission to tell the story of independent veterinary medicine
36:18 — The Stethoscope & Spreadsheet Seven: Matt picks Question #3
36:56 — What keeps Matt up at night? Ideas, and a whole lot of gin and club soda
40:24 — Closing reflections from Peter and Martin
43:16 — Outro

Mentioned in this episode:

• Veterinary Management Groups (VMG) · myvmg.com
• American Veterinary Medical Association (AVMA)
• VMG's "Proudly Independent" initiative

New episodes every two weeks. Supported by Veterinary Management Groups (VMG) · myvmg.com