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My sister works as a veterinarian and is experiencing some serious burnout from her current practice (a subsidiary of a larger corporation). I guess it's prett
by zciwor 4y ago
My sister works as a veterinarian and is experiencing some serious burnout from her current practice (a subsidiary of a larger corporation).
I guess it's pretty common practice for corporations or private equity to snatch up smaller independent practices and then run them like a sweat shop.
Her current CEO's resume is a list of Starbucks, Walmart, and a few other corporate roles that are totally unrelated to the medical industry.
We're tinkering with a platform that can somehow disrupt this cycle and add some transparency to the practice structure for the would-be employee.
The current form is kind of a niche Glassdoor, or we've been thinking of it as the "online dating between veterinarians & practices." Still playing with the concept.
Anyone have any thoughts on how to take out these massive PE firms that are plaguing the Vet Med industry?
Here's some more info on the problem: https://www.ftc.gov/news-events/news/press-releases/2022/06/ftc-acts-protect-pet-owners-private-equity-firms-anticompetitive-acquisition-veterinary-services https://www.ftc.gov/news-events/news/press-releases/2022/06/...
- ultra_nick 4y agoMy wife and I are suffering personally from this. I'll help for free. I'm convinced Vetmed will follow human medicine's history. Currently, the future of human medicine is small clinic subscription medicine without insurance. Apps like Roo could help with temporary staffing issues. Let's talk: https://www.linkedin.com/in/nicholascgilpin https://www.linkedin.com/in/nicholascgilpin
- zciwor 4y agoConnected via LinkedIn. Excited to talk!
- w10-1 4y agoWhat's wrong with opening your own practice? Investors can only invest in scalable, replicable businesses. Veterinary practices are intensely personal, often specialize in different species and breeds, and can develop unique experimental treatments. The cost of labor is ridiculously cheap (people become Vet Tech's for love, not money), and buildings need not be in commercial centers, so capital costs are minimal. Honestly, veterinarians are really in the best possible profession for maintaining independent practices. If they can't resist investor takeover, who can?
- barkerja 4y ago> The cost of labor is ridiculously cheap (people become Vet Tech's for love, not money), and buildings need not be in commercial centers, so capital costs are minimal. This is absolutely not true and it's a big issue in the field currently (my wife is a Veterinarian). This kind of thinking is also what is causing a lot of mental health issues in the field.
- blamarvt 4y agoI'll echo that. Also being married to a vet it's insane how little very qualified and experienced techs are being paid.
- gmadsen 4y agohow is that in disagreement? Cost of labor is indeed cheap
- barkerja 4y agoIt's often referred to as compassion fatigue. Just because you have a love for something doesn't mean you should do it for free or cheap. The job also isn't all love and cuddles; there's a lot of having to turn away care or euthanizing because owners can't afford the needed care.
- worik 4y agoThat is a problem that needs solving! That is what burns the labour out
- educaysean 4y agoYou are saying two different things here. Are you agreeing with the poster's position that veterinary professionals aren't getting paid what they're worth (aka. cheap labor), or are you refuting it?
- neill 4y ago
- amelius 4y agoVets have crazy high margins, and thus salaries, so from an outsider perspective perhaps the market is ready for some more competition.
- gmadsen 4y agothose savings don't go to you, at least not the majority. It goes to the starbucks ceo that turns the industry into a sweat shop.
- amelius 4y agoOk, but that is a wider problem. At least vets have better salaries than most other employees in the same business-construct. Perhaps they should start a union, like the rest of us?
- quayless 4y agoWhat are you considering to be a crazy high salary? Family doctors (some of the lowest paid doctors) earn double the reported average of a vet in the US. They're the only business I can think of that have people with doctorates providing medical services to other live creatures from a business perspective. Also curious on what your source is for their high margins since you mentioned you're an outsider?
- notananthem 4y agoAll my vet friends need this. Veterinary medicine suicide rate is pretty high.
- esperent 4y ago> Anyone have any thoughts on how to take out these massive PE firms that are plaguing the Vet Med industry? Have you considered forming / joining a union?