Episode 27: Are You Really Profitable? Understanding Your Financial Statements

In this episode of The Vet’ed Podcast, hosts Steven Hermann and Kale Flaspohler dive into a critical question for veterinary practice owners—are you truly profitable? They explore common financial misconceptions and the ways financial statements can be misleading if not properly analyzed.

From rent calculations to owner compensation, bulk orders, and hidden expenses, Steven and Kale break down the key areas where financial statements might not reflect reality. They also discuss the importance of using percentages rather than dollar figures when assessing profitability, ensuring comparisons are accurate across different-sized clinics and locations.

With insights from real-world veterinary financial data and a deep dive into industry benchmarks, this episode offers invaluable guidance for practice owners looking to optimize their financial health. Plus, the hosts share their thoughts on how pricing decisions are often driven by fear rather than data—leading to missed opportunities for sustainable growth.

Tune in for a conversation that’s both eye-opening and practical, helping you take control of your financial future and answer the question: Are you really profitable?