#037: VET MED - Building Wealth as a Veterinarian with Dr. Pamelar Hale

Vet Med Wellness + Leadership

“You’re just in it for the money”, a statement heard in clinics around the country that hits with a sting for veterinarians. But are they wrong? Most veterinarians are caring, tender, service-led people who deeply want to treat and help animals, but…they also have expensive student loans and personal goals like starting a family or buying a house. Like every person on the planet, veterinarians need money to survive and thrive in the world, so making money and building wealth is not greedy, it's important.
Dr. Pamelar Hale has an extensive career in the veterinary industry and is a major advocate for wealth-building, leadership, and ownership in the vet world. The owners of clinics or the corporate management companies are surely making money, so why shouldn’t the vets doing the work make money too? Dr. Pam says she believes vets should get their piece of the pie and even more so make strides to take ownership of clinics and get the money they work so hard for.
Veterinary care can be costly, and oftentimes pet owners are not happy about the price tag for needed and sometimes emergent treatment. Dr. Pam’s solution to this tough issue in the vet world is empathy. We can all understand being hit with emergency situations and unplanned expenses, making space and being understanding of the situation, and letting the pet owner make the decision for care is so important. Secondly, she suggests explaining why the fees are fair. There are a lot of expenses that go into good veterinary care: labs, equipment, staff, building expenses, and much more. Factoring these costs into treatment is the only way to ensure good veterinary medicine continues. However, as caring and tender-hearted people, these unfortunate situations where clients decline treatment due to costs can weigh heavy on our hearts. While it isn't possible to give treatment for free 100% of the time, Vets can set up weights to give back, whether setting up a stipend and foundation in their clinic for cost assistance or donating regularly to these causes as well.
Dr. Pam has an impressive education and not all of it is directly veterinary-related. She recommends that vets seek other degrees such as in business or even just certifications. Not only will higher education help veterinarians master skills related to goals like owning their own clinic but it will open opportunities for other professional avenues and continued wealth building.
Something very important to Dr. Pam is Veterinarians taking control in the profession, which means more veterinarians should be in leadership positions in facilities and businesses. Veterinarians in leadership roles lead to a more understanding and cohesive industry where burnout and overworking are not happening. Dr. Pam has so generously shared her email and you can also find her on LinkedIn if you have questions and are looking for direction on wealth building and the next steps in your career.
What’s Inside:

• Why wealth building isn’t greedy.
• Is it okay to be “in it for the money”?
• Why veterinarians should be taking leadership roles in the industry.
• How higher education and certifications can impact your career.
• Why more veterinarians should consider clinic ownership.

Mentioned In This Episode:
Dr. Pam Hale on LinkedIn
[e-mail]