{"id":1707,"date":"2023-03-10T01:15:13","date_gmt":"2023-03-09T15:15:13","guid":{"rendered":"https:\/\/software.covetrus.com\/apac\/?p=1707"},"modified":"2025-09-16T13:13:47","modified_gmt":"2025-09-16T03:13:47","slug":"cost-of-living-in-the-veterinary-industry","status":"publish","type":"post","link":"https:\/\/software.covetrus.com\/apac\/veterinary-insights\/article\/podcast\/cost-of-living-in-the-veterinary-industry\/","title":{"rendered":"Looking ahead and navigating the Cost of Living (CoL) crisis\u00a0in the veterinary industry"},"content":{"rendered":"<p>Whilst becoming an established senior veterinary surgeon, Gemma realised that her true driver was to help others &#8211; be it the animals, the clients, or the team she was part of.\u202f Her knowledge of leadership, team dynamics and client experience grew over time and puts her in a prime position to lead others, especially right now in the Cost of Living Crisis conversation. She became the clinical director of a busy four-branch practice that included its own out-of-hours service prior to joining Vet Dynamics as a Veterinary Business Consultant.<br \/>\n&nbsp;<br \/>\nHer experience, passion for constant improvement and development, supporting people to reach their goals and enjoy their lives is what make Gemma an excellent guest to take key advice from.&nbsp;<br \/>\n&nbsp;<\/p>\n<div style=\"padding: 56.25% 0 0 0; position: relative;\"><iframe title=\"Looking ahead and navigating the Cost of Living (CoL) crisis&amp;nbsp;\" style=\"position: absolute; top: 0; left: 0; width: 100%; height: 100%;\" frameborder=\"0\" data-src=\"https:\/\/player.vimeo.com\/video\/801970162?h=e57fdcd05d&amp;badge=0&amp;autopause=0&amp;player_id=0&amp;app_id=58479\" allow=\"autoplay; fullscreen; picture-in-picture\" allowfullscreen=\"allowfullscreen\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" data-load-mode=\"1\"><\/iframe><\/div>\n<p><script src=https:\/\/player.vimeo.com\/api\/player.js><\/script><\/p>\n<p><iframe style=\"border-radius: 12px;\" frameborder=\"0\" height=\"152\" data-src=\"https:\/\/open.spotify.com\/embed\/episode\/24wdn4BCERHpCFBMLd6LJE?utm_source=generator\" width=\"100%\" allow=\"autoplay; clipboard-write; encrypted-media; fullscreen; picture-in-picture\" allowfullscreen=\"allowfullscreen\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" data-load-mode=\"1\"><\/iframe><\/p>\n<h2><span style=\"color: #021660;\">Looking beyond what\u2019s just in front of us&nbsp;<\/span><\/h2>\n<p>Following our <a href=\"https:\/\/solutions.covetrus.com\/apac\/2023-trends-ebook-email\">eBook release on 2023 Veterinary trends and insights<\/a>, I asked Gemma what her thoughts are following the survey findings and what practices should be thinking about for the remainder of this year. Interestingly, she immediately points out the need to look beyond what is in front of us. The need to have long-term vision instead of being short-sighted.&nbsp;&nbsp;<\/p>\n<blockquote><p><em>\u201cGenerally vets are very good at seeing immediately what\u2019s in front of us. We see emergencies, the daily grind. But it\u2019s important to think \u2018What is it I want to achieve this year? Where do I want to go, where do I want to be in the next three years?&#8217; And have a plan for that. &#8216;What are the big things that will make a difference to me, my practice and people?&#8217;\u201d&nbsp;<\/em><\/p><\/blockquote>\n<p>There\u2019s a general consensus that with mental health and the veterinary shortage still being in the top three challenges, investment in people should be your top priority as a practice. COVID-19 highlighted these even more so and allowed a period of reflection as well as the abrupt, speedy adjustments that happened! As Gemma recognised, perhaps \u201cunprecedented\u201d is the most overused word in the last three years as we move from one big storm to another, but with COVID-19 by the wayside, we\u2019re now dealing with the Cost of Living (CoL) crisis.<\/p>\n<h2><span style=\"color: #021660;\">Using your people and resources effectively&nbsp;<\/span><\/h2>\n<p>Picture the scenario. Bills are mounting, staff want increased salaries and as a practice owner, you may just be trying to keep the lights on and customers happy. It can often feel difficult to even think strategically whilst you\u2019re busy fighting fires, but the way around it is being able to manage your time, resources and staff more efficiently and effectively.&nbsp;<\/p>\n<blockquote><p><em>\u201cManage your resources sensibly, by using skilled people effectively and get them feeling like their contributing alongside well thought-out planning will help you get your best foot forward. Planning is key to being a forward-thinking practice. I don\u2019t deny the stress when a practice is simply trying to deal with day-to-day life and keeping the books in the black. It is really tough. But I believe, that by thinking beyond the next month and being organised is the key to get out of the mode of fire fighting.\u201d&nbsp;<\/em><\/p><\/blockquote>\n<h2><span style=\"color: #021660;\">Scrape out a little time to focus on the bigger picture&nbsp;<\/span><\/h2>\n<p>Gemma\u2019s advice is to carve out 30 mins. Starting small, it\u2019s at least a step forward up the mountain. From there, it\u2019s like building blocks. You go from 30 mins to half a day or two hours in the morning spent thinking about big-picture plans.&nbsp;<\/p>\n<blockquote><p><em>\u201cWork on your business, not in it.\u201d&nbsp;<\/em><\/p><\/blockquote>\n<p>With that statement alone, Gemma goes on to explain how this is a more strategic route, providing more yield. Anything that\u2019s urgent or chaotic in front of us, tends to be generated from not thinking bigger and having no plan.&nbsp;<\/p>\n<blockquote><p><em>\u201cIf we focus our precious time, we tend to reduce the urgencies and falling over bits and pieces.\u201d&nbsp;<\/em><\/p><\/blockquote>\n<p>It\u2019s no longer sustainable to keep being pulled into ad-hoc tasks, emergencies and lastminute.com type tasks \u2013 the cycle will just repeat itself if it isn\u2019t broken.&nbsp;&nbsp;<\/p>\n<h2><span style=\"color: #021660;\">Creating change amidst the global veterinary shortage&nbsp;<\/span><\/h2>\n<p>The beauty of managing time well means that it has positive implications in every corner of your practice and on its most important asset \u2013 people. Where it\u2019s struggling with recruitment and retention, the first thing that can be addressed and is within a practice\u2019s control is the satisfaction of its staff. Once again, Gemma highlights the consequences in a very relevant example:&nbsp;&nbsp;<\/p>\n<blockquote><p><em>\u201cEven if you do manage to hook a well experienced and fitting vet, you\u2019ve newly recruited them but you throw them into a manic and chaotic environment, it\u2019s not going to work long-term. You work with what you\u2019ve got, improve it, \u2018what can we do about it?\u2019 is the big question. And we need to train our brains and work culture enough to be proactive \u2013 not reactive. Again, it\u2019s back to the resources and planning \u2013 cannot overstate these or repeat it enough \u2013 plan, plan, plan.\u201d&nbsp;&nbsp;<\/em><\/p><\/blockquote>\n<p>Working more efficiently and effectively is naturally going to be more appealing for new staff to know you\u2019ve got a plan, something you\u2019re working towards and the feeling like they\u2019re part of something. It\u2019s much more attractive and is a no-brainer when you want to retain and keep skilled staff members. This helps with retention but does indeed involve investing in your people and giving them your time.<\/p>\n<h2><span style=\"color: #021660;\">Investing in people means\u2026&nbsp;<\/span><\/h2>\n<p>Exactly how you\u2019ve probably been reminded and read of many times \u2013 communication, transparency and training are essential for your staff.&nbsp;&nbsp;<\/p>\n<blockquote><p><em>\u201cInvesting &#8211; we think money. But really, it\u2019s back to time \u2013 giving them that, the space for their needs, to talk to them about their own development, their career trajectory and all that makes a huge difference. It helps them feel valued and away from being a cog in a machine. You may not know what skills your team have and the only way to discover that, is by talking to them!\u201d&nbsp;<\/em><\/p><\/blockquote>\n<p>Our <a href=\"https:\/\/software.covetrus.com\/apac\/veterinary-insights\/article\/podcast\/an-interview-with-kay-ritchie-addressing-the-veterinary-global-shortage-and-cultivating-a-healthier-workplace\/\">episode with Kay Ritchie, a Veterinary Recruiter at Future Nobles<\/a> is also a great key resource for knowing which questions to ask and how to conduct a performance review that will benefit the staff and the practice.&nbsp;&nbsp;<\/p>\n<p>Remapping, realigning and readjusting means you can find efficiencies in many places. You know the saying \u201cto make money, you need to spend money.\u201d We believe it\u2019s the same for time! To save more time, you need to spend time in the right places. And that\u2019s how you make big gains.&nbsp;&nbsp;<\/p>\n<h2><span style=\"color: #021660;\">Don\u2019t forget to look at the positives&nbsp;<\/span><\/h2>\n<p>A kind reminder in any evaluation isn\u2019t just to look at making changes or what can be changed, adjusted, moved or otherwise \u2013 but looking at the positives.&nbsp;<\/p>\n<blockquote><p><em>\u201cThe human brain isn\u2019t very good at looking at progress. Even with COVID-19 \u2013 we need to look where we were in 2020 to today. We made it through that. I don\u2019t think we can underestimate how big of an achievement it is, that many of us made it through that! Learning from what worked well, is just as useful as asking \u2018what didn\u2019t work well\u2019.\u201d&nbsp;<\/em><\/p><\/blockquote>\n<p>As we dive more into the conversation, Gemma talks about balancing priorities and how start-up practices or new players can gain a foot in the door and have an advantageous start.&nbsp;&nbsp;<\/p>\n<p><em><span style=\"color: #021660;\">Tip: scrub to timestamp 12:21 to discover more about this area as well as the research aspect that plays a large part in successful operations in a practice.<\/span><\/em><\/p>\n<h2><span style=\"color: #021660;\">Building commensurate revenue and putting prices up&nbsp;<\/span><\/h2>\n<p>On the commercial front, the veterinary industry is known to be a very compassionate and loyal industry, often putting customers first and making sure their needs are accommodated. This is important but also equally important to ensure the practice is commercially viable, successful and profitable. In the Cost of Living Crisis, everyone is feeling the pinch and it\u2019s becoming much harder to navigate financial strains for each and every party. Gemma\u2019s fascinating insights remind us not to think of profit as a dirty word.<\/p>\n<blockquote><p><em>\u201cIf your suppliers have put their prices up but you haven\u2019t put yours up \u2013 you could be making a loss and at best, break even. And that\u2019s a dangerous position to be in because you don\u2019t have that cash to put back into the business.&nbsp; It\u2019s a key area to look at \u2013 look at all your suppliers, lab services, phones, internet, pharmacy supplies etc. Keep yourself on the black side of the line. And most importantly \u2013 do not be afraid to increase your prices.\u201d&nbsp;<\/em><\/p><\/blockquote>\n<p>Raising prices for many can be a scary step, but if you\u2019re doing it ethically, responsibly and sensibly, it is essential for the practice and most customers will understand. There are also many ways to deal with customers in the <a href=\"https:\/\/software.covetrus.com\/apac\/veterinary-insights\/article\/client-solutions\/how-to-communicate-to-your-customers-in-the-cost-of-living-crisis\/\">Cost of Living crisis<\/a>, giving them the flexibility and options to pay for the services you provide. This includes pet-health plans, which are also one of the most talked about channels for building commensurate revenue relative to all the inflationary costs.&nbsp;&nbsp;<\/p>\n<p>Additionally, on staff salaries, if you don\u2019t increase your prices, you\u2019re unlikely to be able to give those deserving of any salary raise. If there\u2019s no money in the bank, it isn\u2019t possible, so it is better to become more comfortable with raising prices for the sake of your practice\u2019s commercial viability and investment in people and resources.&nbsp;&nbsp;<\/p>\n<h2><span style=\"color: #021660;\">Value isn\u2019t just the pet treatment&nbsp;<\/span><\/h2>\n<blockquote><p><em>\u201cJust make sure that when you do increase your prices, that value is reflected in that. Your customer needs to know what they\u2019re getting from the consult, the x-ray, the medication, the treatment etc. Be transparent. But value is also equally the receptionist smiling when they come into the clinic and booking them in. It\u2019s all the little things. Saying the pets name, fussing over the pets. Don\u2019t lose sight of personal touch. We need to keep giving the value.\u201d&nbsp;<\/em><\/p><\/blockquote>\n<p>As outlined, the pieces of advice from Gemma (might we say golden nuggets!) are invaluable and all stem back to the need for planning, truly understanding and embodying the values of what your practice stands for. Performance reviews, pricing, commensurate revenue, training and business planning mean being a step ahead and comes with the territory of being a forward thinking-practice.&nbsp;<\/p>\n<p>Furthermore, we discuss the role of technology and how it can be extremely helpful when used correctly, especially aligned with your practice\u2019s values.&nbsp;&nbsp;<\/p>\n<p>To hear more from Gemma, dive into our episode!<\/p>\n<h2><span style=\"color: #021660;\">Additional resources: &nbsp;<\/span><\/h2>\n<ul>\n<li><a href=\"https:\/\/software.covetrus.com\/apac\/veterinary-insights\/ebooks\/2023-veterinary-industry-trends-looking-ahead-and-how-to-create-a-forward-thinking-practice\/\">2023 Veterinary Trends and Insights eBook&nbsp;<\/a><\/li>\n<li><a href=\"https:\/\/software.covetrus.com\/apac\/veterinary-insights\/article\/client-solutions\/how-to-communicate-to-your-customers-in-the-cost-of-living-crisis\/\">How to communicate with your customers in the cost of living crisis&nbsp;<\/a><\/li>\n<li><a href=\"https:\/\/software.covetrus.com\/apac\/veterinary-insights\/article\/practice-solutions\/the-opportunity-more-revenue-the-gap-missed-charges\/\">Attracting more revenue in your practice via missed charges&nbsp;<\/a><\/li>\n<li><a href=\"https:\/\/software.covetrus.com\/apac\/veterinary-insights\/article\/podcast\/an-interview-with-kay-ritchie-addressing-the-veterinary-global-shortage-and-cultivating-a-healthier-workplace\/\">Investing in your staff via performance reviews and training<\/a><\/li>\n<li><a href=\"https:\/\/www.vetdynamics.co.uk\/\">Vet Dynamics Website&nbsp;<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Whilst becoming an established senior veterinary surgeon, Gemma realised that her true driver was to help others &#8211; be it the animals, the clients, or the team she was part&#8230;<\/p>\n","protected":false},"author":123456797,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[65],"tags":[],"class_list":["post-1707","post","type-post","status-publish","format-standard","hentry","category-podcast"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - 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