Production by doctor

Definition

Revenue attributed to each veterinarian, the concentration a lender reads before it reads the total.

Why It Matters

Veterinary revenue is doctor-hours times average transaction, so the total is only as durable as the doctors producing it. Ask for production by doctor for three years and read three things off it. How much the selling doctor personally carries, which is the share that walks with them; each associate's tenure, pay against market and non-solicit; and whether any one doctor's book is the practice. Underwriting centers on this concentration, and the guide's debt-service rule nets the seller's share out before the payment is modeled.