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Consolidate That!

Consolidate That!

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Hosted by Dr. Ivan Zak and Ryan Leech, Consolidate That! focuses on critical corporate topics in the veterinary business. The episodes center on improving clinical care, customer and employee experience, combining proven processes with modern technology, and ways to expand shareholder value using clear performance metrics. Find beneficial knowledge that you can apply in the rapidly growing veterinary consolidation market.
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Each episode is a consolidation of multiple blog posts on a theme from the blog Cold Takes (https://www.cold-takes.com). This is for listening to a full series after it's out. To listen to regular Cold Takes posts, go to Cold Takes Audio instead.
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Home to the unofficial podcast about the CW’s Arrow. Hosted by Zack and Phil. Episode recaps, news, analysis and predications are all discussed on this weekly show. Please rate us and subscribe to help more fans find our show. Learn more, contact us, and check out our other podcasts at www.southgatemediagroup.com.
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For this finale episode of Consolidate That, Ivan and Ryan take a moment to look back on their nearly three-year podcast journey discussing the veterinary industry and consolidation. They also introduce two new podcasts: "The Bird Bath," covering veterinary industry news, and "The Bark Side," exploring how independent practices can apply corporate …
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In this episode, Bill Snow, an experienced M&A professional with over 30 years of experience in investment banking and M&A, discusses various aspects of mergers and acquisitions with Ryan Leech and Dr. Ivan Zak, particularly in the context of veterinary practices. They cover a range of topics, including the difficulties of sourcing deals, conductin…
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In this episode of Consolidate That! Ryan and Ivan are joined by Sarah Hale, Pet Resort Manager at Danville Family Vet, to talk about the successful model of integrating grooming, daycare, and boarding services with veterinary care, creating a 'one-stop shop' for pet owners while boosting revenue and client loyalty. Donate: Official account of the …
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In this episode, Ryan and Ivan invite Colin Carr, Founder and CEO of CARR, to discuss the role of real estate in veterinary practice negotiations and the challenges consolidators face when acquiring multiple clinics. The conversation delves into various aspects of real estate, including negotiations during acquisitions, dealing with existing leases…
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In this episode, Kathy Joling, Sr. Manager of Benefits Strategy at Galaxy Vets, joins Ivan and Ryan to discuss the significance of educating employees about their benefits package. They chat about the importance of employees having a complete understanding of accessible benefits, the value of Employee Assistance Programs (EAPs), and how EAPs contri…
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Bo Burlingham, an author who has written about entrepreneurship and small businesses for many years, joins Ryan Leech and Dr. Ivan Zak to discuss the concept of The Great Game of Business, the employee ownership business model, open book management, and the importance of building great businesses through relationships and shared outcomes. Donate: O…
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Ryan Leech and Dr. Ivan Zak welcome Dr. Richard Gebhart, a veterinarian and entrepreneur, to discuss the dynamics of veterinary practice consolidation and highlight opportunities for independent practices. Dr. Gebhart shares his journey as a veterinarian-turned-entrepreneur and his experience in selling his practice to VCA in 1986, emphasizing the …
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This week, Ryan Leech and Dr. Ivan Zak discuss the findings of the third annual burnout study in veterinary medicine. They delve into the divergent correlation between financial security and burnout, consider different compensation models, and explore alternative profit-sharing approaches that could benefit the entire veterinary hospital staff. The…
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Today's guest, Dr. Alan G. Robinson, shares insights on improving organizational performance through frontline employee ideas, emphasizing the need for thousands of small ideas over one big idea. He highlights the importance of a management approach that fosters creativity, psychological safety, and modern solutions. Additionally, we talk about the…
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In this episode, Dr. Katie Rohrig from Danville Family Vet shares her experience working in the veterinary medicine industry and her approach to managing burnout. The discussion highlights the six triggers of burnout and how they apply to the veterinary domain. Dr. Rohrig also talks about challenges the industry faces, including client management a…
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Today we chat with Sarah Dalton, a Client Care Coordinator at Danville Family Vet, about her recent essay on compassion fatigue in the veterinary industry. She’ll cover what it is, why it’s a problem and the importance of this topic in the field. During the conversation, we share the ways to prevent and manage it, including implementing techniques …
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In this episode, Dr. Jeff Smith of Danville Family Vet discusses his experience as a veterinarian in a small town, his challenges, and how he overcame them. He talks about his decision to join Galaxy Vets, explains the advantages of the equity ownership model, and how it can help smaller practices cope with the rapid changes in the field. Donate: O…
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Ryan Leech and Dr. Ivan Zak discuss a recent two-part episode of Freakonomics about the impact of private equity ownership on the veterinary market and consolidation. They explore the different perspectives presented in the episode, including those of executives, economists, and veterinarians. Our hosts also touch on the importance of trust and ali…
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In this episode of Consolidate That, Ryan Leech discusses with Dr. Ivan Zak his observations and takeaways from attending the Victus Group’s WVC Annual Conference in Las Vegas, one of the largest conferences in the veterinary industry. Ryan covers various topics related to the latest trends and changes in veterinary medicine, including the impact o…
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Ryan Leech and Dr. Ivan Zak continue to explore employee ownership. Shannon Gervais, Head of People Operations at Galaxy Vets, joins them this week to discuss this new concept in the veterinary industry, uncover the components of cultural integration stages at Galaxy Vets, and explain the importance of understanding business fundamentals on all lev…
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This week Steve Kemph, Vice President of Field Operations at Galaxy Vets, talks about employee ownership, what components drive the culture, and how creating a bottom-up approach can drive sustainable results. Donate: Official account of the Armed Forces of Ukraine: https://bit.ly/3NvODNm Topics discussed: Instilling business acumen Managing and me…
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We begin our third season of Consolidate That! by discussing the changes that have taken place in the veterinary business over the past year. In this episode, Fritz Buerger, Managing Director of William Blair, will share his observations on what has changed in veterinary practice acquisition, how macro factors affect the world of investment compare…
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The second season of Consolidate That! ends with a discussion of the criteria and factors that a consolidation group pays attention to when communicating with a potential partner practice. Using Galaxy Vets as an example, Ryan Leech and Dr. Ivan Zak discuss in detail such aspects as core values alignment, hospital reputation, location, and financia…
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Figuring out how to sell your veterinary practice is a process filled with important decisions and questions to ask. Even in the current consolidation market, where there are no multiples of 18x or 20x, selling your clinic can be extremely rewarding if you take the right approach. This week, Ryan Leech and Dr. Ivan Zak discuss what to consider befo…
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Like many professionals, veterinarians go through various stages of life and may be motivated by different things at different times. In this episode, Galaxy Vets’ Head of Community Engagement Dr. Tara McCarthy joins Ryan and Ivan to discuss the need to create flexibility in veterinary medicine and how Galaxy Vets provides a choice to veterinary pr…
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In this episode of Consolidate That!, we talk to Andrew Schultz, Business Development & Clinical Services for Midmark Animal Health and Project Director for Midmark Academy. Andrew chats about implementing anesthesia checklists, simulation-based training, and how a desire to bring the benefits of immersive simulation training evolved into veterinar…
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This week, Steve Kemph, Vice President of Field Operations at Galaxy Vets, joins Ryan Leech and Dr. Ivan Zak to talk about the nuances of regional management and how to impact change at the hospital. Donate: Official account of the Armed Forces of Ukraine: https://bit.ly/3NvODNm Topics discussed: Steve's career story in the veterinary industry Сrit…
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Shannon Gervais, Director of Veterinary Hospital Integrations at Galaxy Vets, is welcomed by Ryan Leech and Dr. Ivan zak to discuss post-acquisition clinic integration, how the WSJF prioritization framework helps in the stabilization phases, and the importance of managing the change accurately. Donate: Official account of the Armed Forces of Ukrain…
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Today on Consolidate That! Dr. Ivan Zak and Ryan Leech continue discussing the value creation plan by looking at a regional level within the organization. We take a deeper dive into Galaxy Vets’ regional structure and chat about the value creation items such as capacity management, diversity of tasks for veterinary professionals, centralized schedu…
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Kristine Stump, the VP of Mergers & Acquisitions at Galaxy Vets, joins us this week to discuss planning and executing successful mergers and acquisitions. During the conversation, Kristine shared her knowledge of how sellers can better prepare for the sale of their company, what a buyer is looking for, and what success looks like in M&A. Donate: Of…
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In this episode, Ryan and Ivan dig into the initial steps new Galaxy Vets clinics undergo post acquisition and the importance of trust throughout. Learn what to look for in your own value creation plans. Donate: Official account of the Armed Forces of Ukraine: https://bit.ly/3NvODNm Topics discussed: What are the classic changes after the acquisiti…
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This week, Ryan & Ivan welcome Michael Greenberg of the Veterinary Care Accessibility Project to talk about one of the most significant challenges in our industry - access to veterinary care. Hear more about the developed metrics and data-driven tools to help improve access to care. Donate: Official account of the Armed Forces of Ukraine: https://b…
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The Founder of the National Center for Employee Ownership, Corey Rosen, Ph.D., and author of tax code 1042 joins Ivan and Ryan to uncover the benefits of ESOP for employees and business owners as an exit strategy. Donate: Official account of the Armed Forces of Ukraine: https://bit.ly/3NvODNm Topics discussed: What is an ESOP (Employee Stock Owners…
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This week on Consolidate That!, Ryan and Ivan speak with Captain Rory Lubold, Vice President of IT at Galaxy Vets, about data security for veterinary clinics and the key aspects of multicultural leadership. Donate: Official account of the Armed Forces of Ukraine: https://bit.ly/3NvODNm Topics discussed: How to evolve technology for veterinary profe…
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Dr. Donna Gurney, the Founder of Tutum Psychology, talks about the concept of resilience and factors that influence levels of resilience. Our hosts explore practically application and steps that can be implemented across the vet industry. Donate: Official account of the Armed Forces of Ukraine: https://bit.ly/3NvODNm Topics discussed: - Resilience …
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Dr. Andrew Ciccolini joins Ivan and Ryan to discuss creating a non-profit component within an organization. As the Director of Non-Profit Initiatives at Galaxy Vets and Medical Director at the National Mill Dog Rescue, Dr. Ciccolini leads the mission of Galaxy Vets Foundation, strategic corporate social responsibility, and elaborates on how the org…
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This week on Consolidate That! Ryan and Ivan are joined by Laura Durfee, Vice President of People and Culture at Galaxy Vets, for a discussion about employee satisfaction and the importance of the feedback loop. Laura shares her vision about the bottom-up approach to culture and the role data plays in employer success in retention. Donate: Official…
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This week, Ryan Leech and Dr. Ivan Zak sit down with Tina Stofiel, VP of Membership Services at Galaxy Vets, for a conversation about the membership services. The conversation starts off with a brief understanding of what memberships are and how they differ from wellness plans. Hear about the Galaxy Vets’ vision of the holistic approach to membersh…
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Dr. Taylor Miller of Not One More Vet (NOMV) talks about how wellness education and normalizing mental health conversations can help vet professionals deal with challenging client relationships. Dr. Miller expands on her belief that our own health begets improvements in client health. Topics discussed: Impact of curbside practice on client communic…
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This week on Consolidate That! Ryan and Ivan speak with Dr. Helene Seljenes Dalum, a veterinarian and Ph.D. candidate at the University of Oslo. Helene shared some of the results of a recently published study on vets in Norway and outlines the necessary prerequisites to reduce mental health stressors. Topics discussed: About #NORVETproject The stig…
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Dr. Sarah Wallace joins Dr. Ivan Zak and Ryan Leech to talk about Telehealth and its reach across the entire organization. Dr. Sarah guides us through her deep expertise of growing veterinary medicine virtually. Topics discussed: Dr. Sarah’s path to Galaxy Vets Increasing hospital capacity through the implementation of telemedicine The misconceptio…
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Ryan Leech and Dr. Ivan Zak of Galaxy Vets talk in-depth about the Business Model Canvas and how it beats out the old school business plan model! Our hosts share the details outlined in the Business Model Canvas, including value proposition, customer relationships, channels, revenue streams, and more. Tune in to hear all you need to know about the …
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Galaxy Vets’ Head of Finance, RJ Peters, joins us to discuss M&A value stream mapping, creating a people-first culture and his early impressions of Kanban methodology. RJ shines a light on what pawnshops, childcare, and the veterinary industry have in common! Topics discussed: RJ’s unique background in consolidation Utilizing Kanban from day one St…
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Galaxy Vets COO Emmitt Nantz talks about the theory of constraints, value stream mapping, subjective-objective assessment plans (SOAP), and “the five why’s.” For each of these concepts, Emmitt provides an example of how they can be applied in a veterinary clinic setting in order to reduce bottlenecks, improve employee and client experiences, and ul…
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Cory Friedman, Managing Director of the Veterinary Division at Alera Group, joined to talk about how consolidators approach health insurance and other benefits. We tackled the question of benefits from an acquisition and integration standpoint and the inevitable challenges within consolidation. Cory shared some of the best practices when it comes t…
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Today we are doing one of our first dives into Galaxy Vets by bringing in a special guest from inside the organization, Dr. Lauren Catenacci, our Head of People and Culture. The conversation starts off with a brief understanding of what culture is and its relationship to core values. Hear about the three levels of analysis used to assess the cultur…
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Ryan Leech and Dr. Ivan Zak cover the most recent burnout survey results. This year's survey looks at the change and dynamics of burnout from 1,600 veterinarians across different demographics, including gender and work-life balance. Our hosts share the innovative techniques and experiments that Galaxy Vets will be implementing that support the ulti…
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Ivan and Ryan are thrilled to be returning with this first episode of our second season, where they discuss the formation and insights into Galaxy Vets, including strategy, leaders, practices, and more. Topics discussed: Kicking off with an exciting pivot; season two includes our Galaxy Vets journey. Framework called Three P's and Three S's. Galaxy…
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Austin Hair, Partner at Leaders Real Estate Development, shares his experiences locating, leasing, acquiring, and moving to the perfect property. We discuss how long-term leases protect the tenants, and when is the right time to reach out for help from a broker. Topics discussed: Choosing to buy or lease, depending on the lifecycle of your consolid…
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In this episode, we sit down with Dr. Edward Kanara, Founder of Kanara Consulting Group, to talk about the difficulties of unified management, and how businesses can only function optimally if leadership decisions are made with best medical care practices as the priority. We discuss the challenges of differing goals between management and veterinar…
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Instinct Science Software’s Founder and CEO, Dr. Caleb Frankel, joins us today to guide us through the changing dynamics and goals in the veterinary market, and how Instinct is becoming a full-blown PIMS. Diving into software as a huge factor in work-life balance and burnout, this episode focuses on the ways that it's also a definitive avenue to re…
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Today we are joined by Klint Kendrick, the author of The HR Practitioner’s Guide to Mergers and Acquisitions Due Diligence, to cover various topics, from how to incorporate Maslow’s hierarchy of needs into your business, to the integral role that trust plays in organizational leadership. Without the proper communication and change management plan, …
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Our guest Shawn McVey of Pathway Vet Alliance joins us to cover the keys to effective process implementation in a veterinary hospital, the importance of structure in the workplace, and the five main issues experienced in veterinary practices. Topics discussed: Main cultural issues that are experienced in veterinary practices. Keys to implementing p…
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Today we are joined by Angela Morisette from Scratchpay. She walks us through Scratchpay's various services and pivots and how they go to market with large consolidators. We also hear a detailed description of the user's experience and some interesting findings when working with veterinary groups. Topics discussed: How Scratchpay differs from CareC…
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Dr. Tom Bankstahl, CEO at Veterinary United, joined us for this inspiring conversation about his aspirations for a long-term veterinary-owned group and keeping a safe space for veterinary medicine. Tom also runs us through how he implements his People First policy, how he is creating spaces for people to grow as people as well as professionals. Top…
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