Veterinary Practice Partners Highlights Commitment to Expanding Practice Ownership in 2024 Mid-Year Update
2024年7月31日 - 7:30PM
ビジネスワイヤ(英語)
VPP grows its community of doctor partners
through a differentiated partnership model focused on keeping
medicine in the hands of veterinarians.
Veterinary Practice Partners (VPP), the veterinary community
revolutionizing vet practice ownership and support, today released
its 2024 Mid-Year Update, showcasing the company’s continued
momentum as the co-owner partner of choice for veterinarians
nationwide. With metrics spanning partnership growth and clinic
revenue to customer satisfaction and gender diversity, VPP has
delivered outstanding performance thus far in 2024.
VPP’s 2024 Mid-Year Update, reflecting the community’s
multifaceted results from the first six months of the year,
highlights the company’s ongoing commitment to developing associate
veterinarians into co-owners, moving the needle towards more
equitable practice ownership in the veterinary industry, and
strengthening the skills and service offerings of doctors across
the U.S.
Key highlights from VPP’s 2024 Mid-Year Update include:
- Doctor Partnerships on the Rise: Thirty-one doctor
partners have joined the VPP community year to date, reflecting an
82% increase from the last six months of 2023. Currently, VPP’s
community includes 206 doctor partners across 29 states. VPP’s
co-ownership model, in which veterinarians benefit from improved
purchasing power through economies of scale, offers a deep pool of
resources and robust operational support so veterinarians can focus
on what they do best: providing high-quality patient care,
fostering a strong culture at their individual practices, and
reinforcing their commitments to serve their communities.
- Professional Development Remains a Priority: VPP’s
professional development courses continue to draw interest from
doctors looking to strengthen their knowledge and skills. So far in
2024, more than 240 doctors and staffers across the VPP community
have completed various in-person courses covering clinical,
leadership, financial acumen, and practice management topics.
- Revenue Growth Outpaces Average: In the first half of
2024, year-over-year revenue growth across VPP’s practice locations
exceeded six-month industry averages, underscoring VPP’s success in
helping its doctor partners run effective and profitable
clinics.
- Push for Diverse Representation: Among VPP’s 206 doctor
partners, 62% are female. This substantial majority highlights
VPP’s focus on increasing diversity within the ranks of veterinary
practice owners and expanding opportunity for female veterinarians
in an industry where women represent most of the workforce.
- Associates Embracing Partner Opportunities: Twenty-two
associates in VPP’s community have made the leap to practice
co-ownership year to date. In fact, 71% of VPP’s new doctor
partners in 2024 have been former associates who have chosen to
become partners. This brings the total number of associate DVMs who
have made this transition to co-owner with VPP to 115.
- Positive Customer Feedback: The average Google rating
for practices in the VPP community during the first half of 2024
was 4.8 out of 5 stars – highlighting VPP’s standard of customer
service excellence throughout its network.
“We are proud to share our 2024 Mid-Year Update, which reflects
VPP’s ongoing commitment to partner with and support the
veterinarians within our network through meaningful career
development and mentoring resources. Through this support, VPP
helps practices thrive and creates a culture of fulfillment from
our shared success,” John McDonough, CEO of VPP, said. “VPP grows
when we focus on people, culture, mission, vision, and values. Our
work in developing our people and elevating our doctors to become
partners reinforces these ideals, and we look forward to driving
further growth throughout 2024 and beyond with these tenets as our
foundation.”
Since its inception in 2011, VPP has been at the forefront of
redefining veterinary practice ownership by offering veterinarians
a future that enables them to truly own their success through its
innovative partnership model. VPP’s model is predicated on
providing associates with opportunities to secure equity and
achieve participatory ownership. Through this co-ownership
framework, VPP not only builds value for the veterinarians and
their families, but leads a movement securing a future for the
profession that is more accessible, sustainable, and rewarding for
future generations.
Veterinarians interested in joining VPP or exploring
co-ownership opportunities can find more information at
www.vetpracticepartners.com.
About Veterinary Practice Partners Based in King of
Prussia, Pennsylvania, Veterinary Practice Partners (VPP) is a
nationwide veterinary community revolutionizing vet practice
ownership and support. With an expansive network of doctor partners
and co-owned animal hospitals and clinics, VPP has become an
established partner of choice. Through its co-ownership model, VPP
provides operational support across learning and development, HR,
recruiting, marketing, technology, and finance, enabling
veterinarians to focus on providing high-quality patient care and
foster a strong culture at their individual practices. For more
information on Veterinary Practice Partners, visit
www.vetpracticepartners.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240731070015/en/
George Spencer BackBay Communications
vpp@backbaycommunications.com
John McDonough Chief Executive Officer
jmcdonough@vetpartners.com