In this episode, Travis Boston, DVM, shares his thoughts on associate compensation. As a practice owner and co-chair of the AAEP Commission on Equine Veterinary Sustainability’s Compensation Subcommittee, Boston has a broad perspective on compensation in the industry.
Boston described the important developments and new ideas in compensation, highlighting the jump in new graduate salaries in the equine sector. He emphasized the importance of considering the total compensation package when fielding offers. The value of benefits can add a lot to an associate’s employment offer, he said.
Boston explained that in his practice, associate compensation is not tightly tied to revenue production. However, a veterinarian’s ability to produce sufficient revenue to support their compensation is important at any practice. Veterinarians must understand the relationship between the number of days/hours worked and their revenue production. He recommended calculating how much revenue you must generate every day so you have a clear goal and can establish strategies to meet that goal. This concept can help associates increase their pay. In closing, Boston encouraged associates to learn about business concepts and practice finances so they can be as successful as possible in their professional careers.
About Dr. Travis Boston
Travis Boston, DVM, is an equine practitioner and owner at Willow Creek Equine Veterinary Services in Pennsylvania. After graduating from Virginia-Maryland Regional College of Veterinary Medicine in 2004, he worked as an equine veterinarian in Colorado and Maryland before joining Willow Creek in 2007. His favorite professional interests include equine dentistry and podiatry. He has extensive training in advanced dentistry and has worked closely with two experts in the field, Drs. Edward Earley and Jack Easley. Boston has served on several committees for the AAEP, including co-chairing the AAEP Commission on Equine Veterinary Sustainability’s Compensation Subcommittee. He currently co-hosts the AAEP’s Practice Life Podcast with Dr. Jessica Dunbar.
When he’s not taking care of patients, Boston enjoys exercising his highly developed sense of humor, playing racquetball, and spending time with his wife and three children.
Related Reading
- Business Briefs: Are Practice Owners More Satisfied Than Associates?
- 6 Ways to Improve Equine Practice Profitability
- How to Achieve Your Compensation Goals in Equine Practice
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