AVMA backs expanded Brakke Study of successful business practices

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The AVMA will assist Pfizer Animal Health and Brakke Consulting Practice Management Group in a comprehensive study of the business practices of companion animal, food animal, and equine veterinarians.

Pfizer and Brakke propose repeating and expanding the 1998 Brakke Management and Behavior Study with the goal of benchmarking progress made since then in the companion animal segment.

In addition, this latest undertaking will include a survey of the financial and economic behaviors of food animal and equine practitioners.

The resulting report will provide a comprehensive picture of the business practices most associated with financial success in all segments of veterinary practice.

The National Commission on Veterinary Economic Issues proposed that the AVMA cooperate on the expanded study, and Executive Board Chair Joe M. Howell made the formal recommendation to the board.

Pfizer is financially sponsoring the study, which will be conducted by the Practice Management Group of Brakke, working in cooperation with Southern Methodist University Business School.

Pfizer and Brakke have requested the use of the AVMA membership list for the survey sample and asked that the survey be mailed on AVMA letterhead with a cover letter, as was the case in the 1998 study.

The new benchmarking study will borrow heavily from the original questionnaire so results of the new survey can be compared with the earlier one. This study will probe more deeply into business practices that were identified with higher incomes in the original survey. Pfizer also proposes including a brief section measuring how commercial companies can support practicing veterinarians in achieving financial success.