Taking the initiative to support new practice owners

In response to rapid developments in the veterinary landscape, with swelling pet populations and increasing corporatisation alongside a recruitment crisis, a growing number of vet professionals are taking the plunge to set up their own practices.

Furthermore, many vets are seeking a different approach to the traditional partnership model. In the current dynamic climate, it’s important that new practice owners can find up-to-date, specialist information and opportunities to build support networks with both their peers and experts.

The “New Practice Academy” launched as a live panel discussion at London Vet Show (LVS) 2023 and, supported by the NVS Group, is a resource that can support individuals in their journey to open a new practice. This series of articles is based on the live panel discussion at LVS 2023, and in this latest article, we take a look at the inspiration behind the New Practice Academy and how it is continuing to support independent veterinary practice ownership.

Entrepreneurial spirit

The New Practice Academy initiative is designed to empower veterinary professionals with the knowledge and skills necessary to open their own independent veterinary practice. Addressing the evolving needs of veterinary professionals, support is offered through multiple conference sessions, networking opportunities and the chance to have one-on-ones with exhibitors at congress.

Harry Norman, LVS event director, credits a growing sense of entrepreneurship among younger veterinary professionals as the inspiration for the initiative. Harry explains, “Our job is to listen to what the profession is asking for and try and respond to what they require. After the pandemic, there was a lot of discussion about the future of the profession and how people could grow their careers within the veterinary sector. We were amazed by the entrepreneurial spirit of young vets, but also aware that it could be difficult for them to find out about starting a vet practice and get help along that journey.

’We were amazed by the entrepreneurial spirit of young vets, but also aware that it could be difficult for them to find out about starting a vet practice and get help along that journey’

“Doing my job, I’m always hearing about the solutions that are available to vets thinking of starting a new practice. So, we wanted to bring together a group of people who were setting up their own practices and create an environment where they could access content and support, as well as benefit from learning about challenges that other practice owners have overcome.”

Long-term commitment to support

“The next step was about partnering with the right company,” continues Harry. ”We wanted to make sure that we provided the best platform and that a partner shared our vision of helping to develop the best possible veterinary profession. One of our challenges is that LVS is only for two days, so we needed a partner who could support people throughout the year. That’s where NVS Group came in. We are all interested in a long-term commitment towards helping the entire profession, and NVS Group, like us, works with everyone, supporting all veterinary staff in different locations and situations.”

“NVS Group aims to support veterinary practitioners with everything they need to run an efficient practice,” says Martin Riley (Figure 1), managing director of the NVS Group, which includes National Veterinary Services, NationWide Laboratories and VetIT. Martin continues, “We work with vets to understand their needs and appreciate the commitment practices make to their customers.

“The New Practice Academy is part of our commitment to support veterinary professionals in developing skills, accessing opportunities for learning and growth, and helping to build a healthy future for the profession.“

Tony Houghton (Figure 2), managing director of VetIT, agrees. “As a group, we work very closely with new practices of all types and see the difference that expert support makes. The right practice management system, which can develop alongside a growing business as the needs and requirements change, is the foundation for the effective operation of the practice and is essential to the overall success and profitability of the business. Providing this expert support through the New Practice Academy will help build successful practices and a thriving veterinary sector.”

Building a community

The support from NVS Group, plus an overwhelmingly positive response to the launch at LVS 2023, means that the New Practice Academy will be growing, in terms of both the number of members and the resources available through the initiative. Twenty-five applicants in the process of starting their own practices were invited to join the 2023 cohort, alongside a hugely popular live panel discussion, plus a trail of content and exhibitors were curated at the event to support those members.

“The group who attended the session all had a clear view that they want to be part of this supportive community,” explains Harry. “So, moving forward we are retaining members of the New Practice Academy from 2023 and allowing them more access to more content. We’ve offered an educational bursary to these members to access the BVA Live 2024 event for no cost, where there will be a follow-up session focusing on setting up your own practice. We’re aiming to add another group of 25 members to the initiative at LVS 2024 and to build a community year-on-year.”

Harry confides, “We’ve been inundated with offers of support from the industry to offer more to delegates, so we hope to be able to increase the experience on-site by adding more to the trail and providing even more content.”

Feedback from the original live panel discussion prompted an increased focus on debate and up-to-date information from industry experts, plus guidance from practice owners who have been there themselves and are keen to share their experiences to help others. At BVA Live at the NEC Birmingham on 6 to 7 June 2024, Vicky Robinson, director of Vet Dynamics, will be leading an enlightening panel discussion titled “Ready, set, launch: launching your first veterinary practice”.

“These opportunities for new practice owners to get together and speak to experts and others who are embarking on the same process are really important,” states David Charvill (Figure 3), director of laboratory services at NationWide Laboratories.

’The chance to collaborate and share experiences as a community is vital to developing any successful business’

“It’s core to our business that we work in partnership with our clients as an extension of the practice team. We provide personal support to practices, with our team available to discuss cases and help reach the correct diagnosis fast. The chance to collaborate and share experiences as a community is vital to developing any successful business.”

The New Practice Academy experience

Harry reflects on the learnings from the New Practice Academy so far. “I was really surprised about the variety and scale of businesses the New Practice Academy members were looking to launch. Some were talking about setting up a practice in five years. Other members had just launched one practice and were now looking to open another five or six practices. Some people wanted to set up their own mobile practice and others were talking about setting up about 15 practices in 12 months. It was a very varied response and illustrates the different possible journeys to practice ownership.

“The other striking thing,” continues Harry, “is how many practice owners who had recently been through the process of starting a new practice got in touch to offer their support. They were keen to share the challenges and identify areas in which they could assist others.

“New Practice Academy 2023 members have commented that the biggest thing is the support network that they’ve gained from the initiative: being able to network and talk to someone who is going through the same thing. It means a lot, just having that continued support and knowing they have someone on their side.”

Veterinary professionals considering joining the New Practice Academy at LVS 2024 can find out more on the LVS website.