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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.

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61 Minutes AAEP 2010

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

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