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61 Minutes AAEP 2010

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61 Minutes is a summary of the year in review in business, technology and veterinary lifestyles. It was presented at the 2010 AAEP Annual Convention.

61 Minutes is a summary of the year in review in business, technology and veterinary lifestyles. It was presented at the 2010 AAEP Annual Convention.

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  • Find henry schein and butler logos
  • AAEP BusiessedprofitablityAAEp GPO
  • “Red Flag” Rule – regulation issued by the Federal Trade Commission (FTC) in 2003 to strengthen protection against identity theft. Any veterinary practice that receives payment after services are provided is considered a “creditor” under the law and subject the the regs which are likely to come into play in the near future. Incentive to move to Cash at Time of Service!!
  • Transcript

    • 1. The Year in Reviewin 61 MINUTES
      Kathy Anderson Robert Magnus Mike Pownall
    • 2. The Economy in Recovery?
    • 3. TechnologyAsset?Liability?Or Both?
    • 4. New Grads JobsDebtGender
    • 5. Challenging Times
      2008
      2009
      2010
      …The Future
    • 6. The Economy
    • 7. 2010
      Snapshot
      40 trillion in debt between secured and unsecured obligations
      13.8 % of all mortgages are in default
      Unemployment at 9.8% in US ….increase 0.2%
      7.6% unemployment in Canada
      Large corporations have record profit levels due to cost cutting
    • 8. 2010
      Financial Industries “Banking”
      149 Bank Closure
      Number of “problem” institutions - highest in 17 years, 829 (FDIC quarterly report)
      Growing bank failures – sapped billions FDIC deposit insurance fund
      Capital Improvement Loans
      SBA Loans
      All time High….Gov’t backed loans
      Credit Lines
    • 9. FDIC Barking Quarterly Report
    • 10. NCVEI 2010
      Vet Practice Sales - 2010 vs. 2009
      > 50 % are flat or up
      50% are down
      Fee Increases for 2010
      No change = 18.1%
      Lowered = 1.4%
      Raised = 80.5%
    • 11. Equine Industry Trends
      Increase A/R
      Customers
      Vendors / Suppliers
      Labor Reductions
      Support Staff
      Veterinarians
      Price slashing
      Decrease Hospital Volume / Revenue
      Decrease in discretional spending
      Future growth
      Improve Operational Efficiencies
    • 12.
    • 13. Where are we going?
    • 14. 2011 Predictions
      More of the same
      Flat growth rates is the new “up”
      Housing not expected to improve
      Unemployment not expected to improve
      Consumer spending will be flat because of high unemployment
      Commercial Real Estate Defaults to Increase
    • 15. Economic Driversto Watch
      Financial Institutions
      Housing / Mortgage Market
      Real Estate Market
      Labor Market
      Debt Financing
      Global Perspectives
      ..this affects us, the equine practitioner
    • 16. Adjust Inflation
      Stimulate Growth
      Monetary Policy
      Money Supply Interest Rates
      Money Supply Interest Rates
      Stimulus Packages World Wide
    • 17. Mergers & Acquisitions
    • Global Competitiveness Report 
      Assesses the ability of countries to provide high levels of prosperity
    • 22. 2008-2009 rankings
      2009-2010 rankings
    • 23. Ease of Doing Business Indexcreated by the World Bank
      Higher rankings indicate better, usually simpler regulations for businesses and stronger protections of property rights
    • 24. 2010 - 2009 Business Index Ranking
      1. Singapore 
      2. New Zealand 
      3. Hong Kong 
      4. United States 
      6. United Kingdom 
      5. Denmark 
      7. Ireland 
      8. Canada 
      9. Australia 
      10. Norway
    • 25. U.S. Public Debt
      1980Debt33% of GDP$909 billion
      1990Debt55.9% of GDP$ 3.2 trillion
      2001Debt55.9% of GDP$ 5.7 trillion
      2009Debt90% of GDP$14.3 trillion
      2010 Debt forecast 100% of GDP
      The bigger picture…
    • 26. NEWS FLASH
    • 27. Equine Vets Under Attack
      Internet & OTC Sales
    • 28. Recession Affecting Animals
    • 29. 61 Minutes TVOn The StreetStudent Debt – Fact or Fiction
    • 30.
    • 31.
    • 32. Student Debt-the Reality
      106%
      56%
      Debt
      Starting salaries
      North America
      AVMA
    • 33. USA Student Debt - the Reality
      • Average debt-2010 graduate-US veterinary college
      • 34. $131,00 for males
      • 35. $134,00 for females
      • 36. Ave debt for Canadian Students = $52,000
    • Comparisons - Professionals
      BLS 5/08
    • 37. New Grad Employment
      2396 new graduates
      60% private practice
      36% internship
      4% industry/public sector
      AVMA 2010
    • 38. USA Veterinarian Starting Salaries 2010 vs(2008)
      $48,778 male
      $34,250 female
    • 39. Equine Vet Practice
      AAEP Job Bank – Dec 3, 2010
      598 Resumes
      25 Jobs
      24 resumes for each job
    • 40. 61 Minutes TVOn The StreetSocial Media – Fact or Fiction?
    • 41.
    • 42. Social Networking
      More grandparents on Facebook than high schoolers
      Facebook, You Tube & Twitter are largest networks
      YouTube uploads 35 hours of video each MINUTE!
      Twitter has > 110 million users.
      7% are in the US
      More NA markets using SN(58%) vs Europeans (34%)
    • 43. Human Medicine
      15% of US hospitals using social media
      Australian & New Zealand Medical Associations have created social media policies
    • 44. Social Networking - Facebook
      >500 million users worldwide
      125 million in US
      85% growth in one year
      “Koobface” virus still a slight risk
      Mobile users are twice as active. (<1/3)
      25% of all web page views in the US
      #3 site used by US users older than 65.
    • 45. Cloud Computing
      Data stored on server farms
      Safe
      Information accessible via the web only
      Amazon & Google
      Microsoft Office 2010
      Image Archiving
    • 46. CUSTOMERS
      AMAZON
      Server
      Cloud Computing
    • 47. Collaboration
      FourSquare
      Yelp
      Go To Webinar
      Google Docs 
    • 48. www.foursquare.comwww.gowalla.com
      Location based
      “Check ins”
      Win rewards
    • 49. www.yelp.com
    • 50. Everyone is Talking About You!
    • 51. Facebook – Off Limits!
      New York TImes
      National Labor Relations Act
      • Employees have right to discuss employers on Facebook or other social media.
    • Live Web
      GoToWebinar
      www.ustream.tv
      real time YouTube
    • 52. Mobile Computing
      Droid/iPhone/Blackberry
      Recent release of Windows 7 could challenge the marketplace
      More people will access the web by mobile devises than laptops/desktops by 2013.
      >200,000 iPhone Apps
      13 billion business in 2013 www.techcrunch.com
    • 53. iPad
      >350,000 sold in first week
      14 million this year alone
      Practice Software
      Client Education
    • 54. Groupon.comWoot.com
      Daily deals
      Huge increase in sales
      Can overpower a small company
    • 55. 61 Minutes TVOn The StreetSmart Phones – Who Needs Them?
    • 56.
    • 57. NEWS FLASH
    • 58. NJ Racing
      Funds from Atlantic City funding racing
      Governor wants to end subsidies
      Race both TBs and STB at Monmouth
    • 59. 2010 Horse Numbers
      US TB live foals
      • Down 14.2% in 2010
      Canada STB stallions standing
      43% decrease since 2007
      Canada STB Mares bred
      29% decrease since 2007
    • 60. Sales In North America
      Keeneland Sales
      2008 ave $90,984, med $37,000
      2009 ave $60,734, med $22,000
      2010 ave $64, 811, med $25,000
      Ave 6.7%, med 13.6%
    • 61. Red Flag Rule
      “Red Flag” Rule – regulation issued by the Federal Trade Commission (FTC) in 2003 to strengthen protection against identity theft.
      Any veterinary practice that receives payment after services are provided is considered a “creditor” under the law and subject to the regs which are likely to come into play in the near future.
      Incentive to move to Cash at Time of Service!!
    • 62. Unused Pharmaceuticals
      Efforts to survey medical facilities regarding pharmaceutical disposal practices was cancelled in Dec 2009
      AVMA urging profession be exempted from the proposed survey
      www.avma.org/drugdisposal
    • 63. I’m Right,You’re Wrong!!!!!
    • 64. I’m Right,You’re Wrong!!!!!
    • 65. Business Resources
      Books of 2010
      Drive - Daniel Pink
      Flip The Funnel - Jeff Jaffe
      Switch - Chip & Dan Heath
      Linchpin - Seth Godin
      The Referral Engine – John Jantsch
    • 66. Business Resources
      BLOG
      www.equinevetbusiness.com
      AAEP Business Education Facebook Page
    • 67. Equine Veterinary Business Education
      Amsterdam - August 2010
    • 68. Resources
    • Thank You
      www.mpownall.slideshare.net
      www.equinevetbusiness.com

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