Saving Struggling Veterinary Practices

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In this episode of the Veterinary Business Podcast, host Michael Walker sits down with financial strategist Hunter Scott to discuss the challenges veterinary practices face and how to turn financial struggles into sustainable success. Hunter shares insights on cash flow management, common financial mistakes, and the importance of financial forecasting. Whether you’re a practice owner, manager, or veterinarian looking to strengthen your financial foundation, this episode is packed with actionable advice to help you navigate financial challenges with confidence.

Key Takeaways:

• Understanding Financial Struggles – Identifying cash flow issues, profitability challenges, and feeling trapped in the business.

• First Steps to Recovery – The importance of bookkeeping, financial clarity, and creating a roadmap for growth.

• Cash Flow Management – How to proactively track expenses, forecast finances, and avoid surprises.

• Common Financial Mistakes – The risks of poor planning, excessive spending, and ignoring tax liabilities.

• Sustainable Financial Strategies – Aligning business growth with personal goals, balancing revenue and profitability, and making informed financial decisions.

Timestamp

• 00:00 – Introduction.
• 03:08 – Hunter’s Journey into Financial Strategy and Passion for Helping Businesses.
• 08:38
  – Recognizing Financial Struggles in Veterinary Practices.
  – First Steps to Financial Recovery: Bookkeeping & Planning.
  – Managing Cash Flow Effectively to Avoid Business Pitfalls.
• 23:18
  – Common Financial Mistakes Veterinary Practices Make.
  – The Role of Forecasting and How It Brings Hope to Struggling Practices.
• 34:19 – Key Financial Strategies for Sustainable Growth.
• 37:18 – Real-World Example of a Healthcare Practice Overcoming Financial Challenges.
• 43:30 – Final Thoughts and Advice for Veterinary Business Owners.

Hunter Scott, CPA

Partner, Strata Cloud Accountants

As a seasoned Certified Public Accountant (CPA) based in Crystal Lake, Illinois, Hunter Scott brings over a decade of experience in accounting, financial strategy, and executive consulting. Currently a partner at Strata Cloud Accountants, Hunter specializes in helping small businesses streamline their accounting processes and understand their financial metrics through integrated and outsourced services.

Hunter’s career includes leadership roles such as Financial Analyst at John B. Sanfilippo & Son, Inc. and various accounting positions at ScaleFactor and Porte Brown LLC, where he gained expertise in areas like GAAP compliance, software implementation, tax planning, and financial auditing.

In addition to his professional achievements, Hunter holds certifications as a QuickBooks Proadvisor and Xero Advisor and actively supports businesses with scalable, strategic financial solutions. He earned his BA in Accounting and Management from Judson University.

Connect with Hunter:

• LinkedIn