What It Means to Be Part of a GRC

by | Jan 15, 2021 | Community | 0 comments

4 Minute Read

As our President and my Co-Founder John Wagoner says, we believe VerticalVet is called to do more – to be more – than just a group purchasing organization. It’s a lofty ambition.

But the reason we say it is that all of us at VerticalVet come from the veterinary industry in some facet and see the limitations in the status quo. Our team is, of course, driven by a professional desire to deliver an excellent product to our members, but our purpose of “doing more and being more” is rooted in the power of tangible impact. Every veterinarian understands this – there is immense joy in the successful care of an animal that can be felt and shared with your clients and team.

Most GPOs measure their performance by looking at the financial success of their member’s business. Which makes sense, but again, is limiting. Successful practices go beyond the bottom-line and elevate the well-being of the animals, as well as the impact of that well-being on the clients being served; they also take into account the well-being of their employees. All of this can be measured and is the real impact of a veterinarian’s work. When a GPO views amplifying these successes as its true purpose, it moves beyond a merely transactional “membership” with its group. Instead, it creates a deeper connection and collaborative environment with members, capable of being a powerful force for good.

Again, it’s a lofty ambition, but that’s why you get into this line of work – it’s not for everyone. And it’s also why we run VerticalVet as a Group Resource Community (GRC) and not merely a GPO.

I’ve put together a short list about what being part of a GRC means for your clinic and what you can expect from VerticalVet as we go forward. If you have any questions, please feel free to reach out.

RETHINK EDUCATION

Too often, teams tell us they feel disconnected – from the industry, their peers, even from each other. The other thing we hear the most is how they’d like to talk to someone in their shoes who also is NOT a competitor. VerticalVet’s Peer Share Program addresses both. We facilitate these member-to-member conversations on a monthly basis, helping curate custom approaches to implement industry best-practices on everything from recruiting, to marketing, to employee morale, to community engagement. Through these targeted, small-group learning opportunities, our members are working to change the narrative – together.

RETHINK DATA AND SAVINGS

There are a multitude of 3rd party providers that can pull data from your PMS, but none of them are native to the buying group you belong to. Our platform, VerticalVet Reminders, is 100% native, which gives the practice control, and is also elegantly paired with our Peer Share program to stunning results (Peer Share participants using Reminders see, on average, a $100k return). Combining communications functionality with data dashboards on both buying and selling, the Savings potential with our vendor programs grows exponentially. And by integrating with VetCove, members can compare prices and place orders inside the Elevate platform in an environment they’re already familiar with.

RETHINK YOUR BUSINESS SOLUTIONS

At VerticalVet, we believe Practice Managers are the beating heart of every practice. We’re building tools to empower PMs to connect with VerticalVet directly to access the resources from our partners to help their practice achieve its goals faster and with less friction. Coupled with the Peer Share Program, we are also helping clinics understand how to choose and use the correct resources for their business. In an industry chasing shiny objects, GRC members are able to focus on what matters to ensure they can deliver excellent patient care.

RETHINK YOUR COMMUNITY

As a Group Resource Community, VerticalVet believes shared responsibility is the true currency of success. For us, this “Stronger Together” mentality is for both good times and bad; it is the glue that connects the dots between our GRC, your practice, the animals you care for and the communities in which you live and serve. It goes beyond a paying membership, or a seat on the board, or ownership. Real community is built by stripping away pretense and exploring the known and unknown about our work and the impact we want to have on this world. All of our members got into veterinary medicine to create a better reality for animals. More than being independent or buying things together, this is our unique identifier and at VerticalVet, we celebrate it and build stability around it before anything else.

If you’d like to get in touch to learn more, just click here and our team will be in touch.

About the Author

Dr. Hank Swartz, DVM, MBA is a career industry veterinarian. Over the last 30 years, he’s held corporate, entrepreneurial and private practice positions at Hill’s, IDEXX, Vet Metrics, Veterinary Management Solutions and ThinkPets, focusing on practice growth strategies through the use of performance metrics. As Co-Founder of VerticalVet, Dr. Swartz brings his reminder performance, internal marketing, client compliance, staff training and program implementation expertise to 1,500+ independent veterinarians as part of their Group Resource Community. He resides in North Carolina.

VerticalVet is Global!

VerticalVet is now part of Vimian’s Group, Veterinary Services segment, VetFamily! Through this acquisition, the VerticalVet team remains the Group Resource Community that you know and trust with more tools and resources on the way.

Click here to learn more!

Added Benefits

In addition to being able to access key data through VerticalVet’s ViQ Analytics and Elevate Insights platforms, participants also benefit from specific discounts exclusive to ViQ. This includes an extra 2% from MWI, potential eligibility for BI’s Rebate Program, access to VerticalVet Reminders, Care Logistics, a members-only networking platform, and more.

Not a Member Yet? Click here. >

Real Results

Several practices in our 2021 pilot group were looking to sell and wanted to understand the value of their practice. Using VerticalVet and the ViQ Analytics platforms and methodology, these practices were able to analyze Quickbooks and their own PIMS data, helping better align their inventory, COGS, and fixed costs to increase their EBITA significantly.

What is Elevate Data Insights?

How it Works

Alongside like-minded and non-competitive owners, ViQ groups meet monthly to discuss subtopics within a quarterly theme. While smaller breakouts or one-on-one meetings with Dr. McDonald may happen, ViQ’s unique strength is blending the shared knowledge and experience of the group with the individual participant’s own strategy and practice data.

Learn More >

Why Join?

Owners have two primary responsibilities: 1) maintaining the long-term viability of their practice and 2) removing obstacles so their teams can be successful. ViQ participants explore key business areas like Operations, Profitability, Human Resources, Leadership, and Whole Team Wellness, improving each area to increase profitability, job satisfaction, and more.

Cost

Joining the PLATINUM program is free for one staff member from each member clinic. Each additional member costs $300. Participants are eligible to receive additional savings for their clinics from our partners, as well as discounts from VerticalVet on Reminders and enhanced Elevate Data Insights.

Not a member yet? Click here. >

Real Results

PLATINUM members actively implement, test, and adopt the concepts they discuss during meetings, often realizing increased revenue and efficiency. Adopting Reminders, for example, helped multiple clinics increase, on average, revenue by up to $81,000 and improved preventative care compliance by 60%.

What is Elevate Data Insights? >

How it Works

VerticalVet facilitates the initial four meetings with a base curriculum: Human Resources, Inventory, Finance, and Digital Marketing. From there, the group decides which topics to pursue in future meetings that best meet the group’s needs and interests.

Learn More >

Why Join?

The number one piece of feedback that we hear from Practice Managers is that they wish they could talk to someone in their field that is NOT a competitor about how to improve their practice. PlLATINUM provides a simple, efficient platform to have these conversations.

On Demand Learning

Info you want, when you need it.

Dr. Ernie Ward, Executive Director of Education, explores Vet Medicine, Finance, Business, HR and more with a broad range of guest speakers in Elevate, VerticalVet’s member platform. With nearly 30 video interviews available, the information you want is On Demand at your fingertips!

Business Academy Live

Take a deep dive on everything from Wellness Diagnostic Testing to Dental Compliance to the Opioid Crisis and how it can impact your clinic.

Vet Med School Live

Veterinary peers and consultants discuss new advancements, current trends, treatment alternatives and more.

Business & Industry

Experts in Business Growth, Finance, HR and Medicine discuss compliance, managing tricky patients, persistent challenges and other pressing topics.

Let us know what you’d like to hear more about (or if you want to be a guest)!

Reminders

Freedom to focus on what’s important.

Does your team send personal emails or postcards to clients about lapsed prescriptions, missed appointments, or worse? Reminders is your path to greater efficiency (which means more opportunities to provide dynamic patient care). Reminders:

Optimize Communication

Use the extra time to build your social media following AND your relationship with clients when they visit the practice

Boost Client Engagement

On average, Reminders users saw 300+ more clients in a year-over-year comparison

Generate Incremental Visits (and Revenue)

On average, practices using Reminders increased weekly revenue by $1,610 (that’s $81,000 annually)

Increase Compliance

On average, practices improved preventative care compliance 50 – 70% using Reminders

Learn more or get started with Reminders by booking a Healthy Practice Assessment today.

Social Media

Tools to keep you connected.

Your clients use social media to learn more about the world around them, and that includes who is caring for their pet. Be part of the conversation! Our monthly tool kits provide you with templates and ideas to build a winning social strategy.

Content Calendar

Pick a channel and use the guide to plan your month of content using the PIEE method – Promote, Inspire, Educate, Entertain.

Key Performance Indicators

Track and measure your metrics at intervals that matter to you with this simple template.

Hashtags

As the best way to help clients find relevant content, use this hashtag guide for your own posts to create a conversation.

Sample Posts & Graphics

We’ve made it easy to manage your social media with sample posts and suggested graphics – free of charge!

Log in to Elevate to get started! Don’t have access to Elevate? Contact us to get connected.

Custom Campaigns

Ready to get it done?

With a little planning, your practice can elevate its marketing quickly. Here’s a step-by-step breakdown of how to put together a Compliance Improvement, WinBack, New Client Acquisition, or Home Delivery campaign. Check it out!

1. Call Us! Before we do anything, let’s talk about your goals

2. Schedule a Healthy Practice Assessment. This creates the basis of your plan.

3. Data! We provide a report and recommendations based on your PMS data.

4. Green Light. You decide on your plan and the campaign to start with.

5. Images, Emails, and Post Cards Creation Oh My! – Don’t worry, we got this 🙂

6. Book a meeting with your team to talk process (transparency is key).

7. Launch? Launch! We will tweak and test along the way.

8. Results: In 90 Days, you’ll be able to truly see the fruits of your labor.

Contact us to get started!

Terms and Conditions

Recitals

Practice is a licensed veterinary practice. VerticalVet (“VV”) is a veterinarian buying group (“VBG”). Practice desires to join VV to use VV as its preferred VBG and VV desires to add Practice to its VBG.

Agreement

In consideration of the mutual covenants and agreements hereinafter set forth, the parties agree:

1. VerticalVet Membership. The VV annual membership fee is $595 (“Fee”). Practice will never receive an invoice from VV, the membership fee is retained from accrued Practice rebates (“Accrued Rebates”) as described in Section 4. The Fee total cannot exceed $595, but fees for additional services may be assessed as provided in Section 2 and 3.

a. For new VV Practices that are not using VV’s VerticalVet Reminder (“VVR”) services, VV shall schedule a free VVR Performance Review to demonstrate VVR’s value to Practice ($795 value – no charge).

b. Notwithstanding anything herein to the contrary, VV retains the right to modify (i) the Fee no more than annually upon written notice provided to Practice including an opportunity to opt – out, and (ii) the payment schedule for Accrued Rebates. Practice may review Accrued Rebates by contacting VV at any time.

c. Any VeticalVet member practice can participate in either of VV’s Peer Share programs; The Platinum Program for Practice Managers or the ViQ program for practice owners. Each member practice may have 1 representative join either program at no additional cost. If Practice desires to add additional Peer Share participants, Practices’ Peer Share program fee increases by $300 per additional Peer Share participant. Information about the Peer Share program is available at: https://verticalvet.com/peershare/

2. Boehringer Ingelheim Invitational Peer Share add-on Program. For an additional $450 per year, a Practice manager or DVM owner may participate in VV’s Boehringer Ingelheim invitational program. This program is an add on for peer share members only and is offered on an annual invite only basis. Information about this program can be provided by the Verticalvet Member Resource Team. Please direct inquiries to memberresources@verticalvet.com. If Practices desires to add additional Peer share participants, Practice’ Peer Share program fee increases by $300 per additional participant. Collectively the $450 to participate and $300 per additional member are the “Peer Share Fees.”

3. VV Data Insights. If Practice is a Peer Share participant or an active client of VVR, VV Data Insights (“Insights”) are supplied at no cost. If Practice is not a Peer Share participant and not an active client of VVR; but desires Insights, it can be provided at an additional fee of $50/month to cover data and administrative fees (the “Data Insights Fee”). Information about Insights are available at www.verticalvet.com/data-insights/.

4. VV Program Benefits. VV negotiates with manufacturers, providers, and suppliers (“Providers”) of medications, foods, sundry items, and services, including medical and business focused continuing education programs, to secure Practice benefits (“Benefits”) that, when possible, meet or exceed those offered by other VBGs. Benefits are listed in detail on VV’s website, www.verticalvet.com, and updated as Benefits are added. Practices are not required to make minimum purchases to participate. The Fee, Platinum Fees, and Data Insights Fee are collectively the “Total Fee.”

a. VV administers, collects and pays Practice Accrued Rebates exceeding the Total Fee annually. If the Total Fee is met, and Accrued Rebates total less than $50.00, they shall be applied to the following year’s Fee. Practices should expect rebate payments sometime in quarter 2 of each year for the prior year’s Practice Accrued Rebates. If Practice does not accumulate Accrued Rebates to cover the Total Fee, VV covers the balance.

1. Conditions. The following are conditions of membership: (i) Practice is not required to withdraw from any other VBG to be a member of VV; (ii) Benefits secured by VV may exceed benefits offered by other VBGs; but this is not guaranteed for each Benefit offered; (iii) Practice must retain its license to practice veterinary medicine or its membership shall be automatically terminated; (iv) Practice authorizes VV to share its identifying information with Providers to the extent necessary to set up and demonstrate Practice’s authority to purchase and use the Benefits offered; and (v) by executing this VV agreement, Practice acknowledges that VV is Practice’s preferred VBG and will be recognized as such with participating VV vendors. If Practice determines, at any time, to (i) designate a different VBG as its preferred VBG or (ii) is sold to a non – VV member or veterinary practice corporate consolidator, it waives its right to collect Accumulated Rebates processed and collected by VV for that year.

2. Confidentiality. The parties acknowledge that the existence of this Agreement, all information related to it, and anything conspicuously marked confidential is confidential and proprietary (“Confidential Information”). Confidential information shall not be disclosed for any purpose unrelated to this agreement without the prior written consent of the other party. Confidential information is not: (i) information that s or publicly becomes known through no fault of a party hereto; (ii) information received from a third party authorized to disclose it; (iii) information developed independently by a party; or (iv) information a party is required to disclose by government authority or a court of competent jurisdiction.

3. Representations and Warranties. Each party represents and warrants that it is authorized to enter into this Agreement, that they will carry out its terms promptly and professionally, and that they will comply with all applicable laws and regulations.

4. Independent Parties. The parties are independent entities. Nothing in the Agreement is intended to create an agency, partnership, joint venture, or fiduciary relationship between the parties and neither party has the authority to act for or on behalf of the other except as provided in the Agreement.

5. Term. This Agreement begins on the Effective Date, continues through its one (1) year anniversary and automatically renews for subsequent annual terms upon conclusion of the prior Term. Practice or VV may terminate this Agreement at any time, but no portion of any annual Fee is refundable.

6. Notice. Notice required or permitted in the Agreement shall be in writing and sent by electronic mail, subject to confirmation receipt requested to VV’s ‘Contact Us’ email address provided at www.verticalvet.com and to Practice’s email address provided during online registration. All such notice shall be deemed received the following business day from the date it was sent.

7. General. This Agreement constitutes the entire understanding of the parties and supersedes all prior communications and understandings. It may only be amended in a writing executed by both parties. Practice may not assign it without the written consent of VV. The Agreement shall be governed and construed under the laws of the state of Ohio. Any dispute regarding the Agreement shall take place in the state or district courts of Franklin County, Ohio. If any provision is found invalid or unenforceable by a court of authority, the remaining provisions are valid.

8. Execution. This Agreement, by its presence on the website is executed by VV and becomes a binding Agreement when Practice accepts it and completes their registration.

Recitals

Practice is a licensed veterinary practice. VerticalVet (VV) is a veterinary buying group ("VBG - Vet Buying Group"). Practice desires to join VV to use VV as its preferred VBG and VV desires to add Practice to its VBG.

Agreement

In consideration of the mutual covenants and agreements hereinafter set forth, parties agree:

  1. VerticalVet Membership. The VV annual membership fee is $500.00 (“Fee”). Practice will never receive an invoice from VV, the membership fee is retained from accrued Practice rebates ("Accrued Rebates") as described in Section 2. The Fee total cannot exceed $500, except as provided in Section 1.1 If Practice does not accumulate Accrued Rebates to cover the Fee, VV covers the balance.
    1. For new VV member Practices that are not currently using VerticalVet Reminder, LLC (“VVR”) services, VV shall schedule a free VVR Performance Review to demonstrate VVRs value to the practice ($795 value - no charge).
    2. The Fee is charged to cover VV administration expenses. VV retains vendor rebates up to the annual Fee.
    3. The Fee includes an opportunity for a Practice manager or DVM owner to participate in the Platinum program. If Practice wishes to include a second Platinum participant, Practice Fee increases to $800/year.
    4. If Practice is a Platinum participant and an active client of VVR, VV Data Insights are supplied at no cost. If Practice is a member of VV, but is not a Platinum participant, and is not an active client of VVR, but desires VV Data Insights, it can be provided at an additional fee of $50/month to cover data and administrative fees.
    5. Notwithstanding anything herein to the contrary, VV retains the right to modify (i) the Fee no more than annually upon written notice provided to Practice including an opportunity to opt - out, and (ii) the payment schedule for Accrued Rebates. Practice may review Accrued Rebates by contacting VV at any time.
  2. VV Program Benefits. VV negotiates with manufacturers, providers, and suppliers (“Providers”) of medications, foods, sundry items, and services, including medical and business focused continuing education programs, to secure Practice benefits (“Benefits”) that, when possible, meet or exceed those offered by other VBGs. Benefits are listed in detail on VV’s website, www.verticalvet.com, and updated as Benefits are added. Practices are not required to make minimum purchases to participate.
    1. VV administers, collects and pays Practice Accrued Rebates exceeding the Fee no less than annually. If the Fee is met, and Accrued Rebates total less than $50.00, they shall be applied to the following year Fee.
  3. Conditions. The following are conditions of membership: (i) Practice is not required to withdraw from any other VBG to be a member of VV; (ii) Benefits secured by VV may replace or exceed the benefits offered by other VBGs; but this is not guaranteed for each Benefit offered; (iii) Practice must retain its license to practice veterinary medicine or its membership shall be automatically terminated; (iv) Practice authorizes VV to share its identifying information with Providers to the extent necessary to set up and demonstrate Practice’s authority to purchase and use the Benefits offered; and (v) by executing this VV agreement, Practice acknowledges that VV is Practice’s preferred VBG and will be recognized as such with participating VV vendors. If Practice determines, at any time, to designate a different VBG as its preferred VBG, it waives its right to collect Accumulated Rebates processed and collected by VV for that year.
  4. Confidentiality. The parties acknowledge that the existence of this Agreement, all information related to it, and anything conspicuously marked confidential is confidential and proprietary (“Confidential Information”). Confidential information shall not be disclosed for any purpose unrelated to this agreement without the prior written consent of the other party. Confidential information is not: (1) information that s or publicly becomes known through no fault of a party hereto; (2) information received from a third party authorized to disclose it; (3) information developed independently by a party; or (4) information a party is required to disclose by government authority or a court of competent jurisdiction.
  5. Representations and Warranties. Each party represents and warrants that it is authorized to enter into this Agreement, that they will carry out its terms promptly and professionally, and that they will comply with all applicable laws and regulations.
  6. Independent. The parties are independent entities. Nothing in the Agreement is intended create an agency, partnership, joint venture, or fiduciary relationship between the parties and neither party has the authority to act for or on behalf of the other except as provided in the Agreement.
  7. Term. This Agreement begins on the Effective Date, continues through its one (1) year anniversary and automatically renews for subsequent annual terms upon conclusion of the prior Term. Practice or VV may terminate this Agreement at any time, but no portion of any annual Fee is refundable.
  8. Notice. Notice required or permitted in the Agreement shall be in writing and sent by electronic mail, subject to confirmation receipt requested to VV’s ‘Contact Us’ email address provided at www.verticalvet.com and to Practice’s email address provided during online registration. All such notice shall be deemed received the following business day from the date it was sent.
  9. General. This Agreement constitutes the entire understanding of the parties and supersedes all prior communications and understandings. It may only be amended in a writing executed by both parties. Practice may not assign it without the written consent of VV. The Agreement shall be governed and construed under the laws of the state of Ohio. Any dispute regarding the Agreement shall take place in the state or district courts of Franklin County, Ohio. If any provision is found invalid or unenforceable by a court of authority, the remaining provisions are valid.
  10. Execution. This Agreement, by its presence on the website is executed by VV and becomes a binding Agreement when Practice accepts it and completes their registration.