THE BUSINESS OF PRACTICE: OPPORTUNITIES BEYOND CLINICAL PRACTICE


rent and accessible medical records also apply to the veterinarian-owned horses, dogs, cats, etc. The shift from veterinary doctor to patient is dif-


ficult, and the uncertainty of the return to work, the impersonal nature of the human medical system, the endless waiting for medical appointments, phys- ical therapy, and/or occupational therapy, the pa- thology of the underlying condition causing the disability, and the potential undesirable adverse ef- fects of medications can lead to the development of physical and emotional discomfort and distress. Dr. Ann Dwyer’s article, “Coming Back After Injury or Disability: Advice for Equine Practitioners”8 chronicles her journey through a serious injury, and every veterinarian ought to read this paper. Dr. Dwyer talks about facing the “dark days,” the days where anger, frustration and self pity come to visit, and she emphasizes the value of a positive attitude. Clients, associates, friends, and family will step up in amazing ways to help, and in most cases, the veterinarian will heal and return to prac- tice. There is a small subset of veterinarians, how- ever, who will come to find that they will never return to equine practice, and this realization gives new meaning to the concept of the dark days. Equine practice is not just a job; it is a life- style and a vocation. There are ways to stay in- volved despite the inability to practice. If there is an economic hardship that can be demonstrated, both the American Association of Equine Practitio- ners (AAEP) and the American Veterinary Medical Association (AVMA) have forms that can be submit- ted requesting a waiver of dues. Remaining a member of the AVMA is a requirement to maintain benefits if participating in the insurance programs offered by AVMA Life. The ability to remain a par- ticipant or lurker on the various AAEP List Serves keeps one connected with the community of equine veterinarians.


3. Discussion


Workers’ Compensation, also known as Workman’s Comp, is a state-mandated insurance program that provides compensation to employees who suffer job- related injuries and illnesses. The requirement to purchase Workers’ Compensation varies from state to state. Workers’ Compensation provides cover- age for medical expenses, lost wages from time off work, rehabilitation, compensation for permanent impairments, and occasionally, job retrain- ing. Workers’ Compensation can provide money and benefits to an injured worker in the form of temporary disability and permanent disability pay- ments. In the case of a workplace death, Work- man’s Compensation provides a death benefit to the estate of the deceased. Social Security Disability Income (SSDI) is a fed-


eral program that pays benefits if the person is deemed completely disabled according to the Social Security Administration’s definition of total disabil- ity and the person has worked and paid the Federal


286 2016  Vol. 62  AAEP PROCEEDINGS


Insurance Contributions Act (FICA) premiums. It is not unusual for the approval of SSDI benefits to take up to 2 years. To meet the criteria of total disability under the Social Security Administra- tion’s definition, a worker cannot do the type of work that was done before, cannot perform other work due to the medical condition, and the disability will last at least 1 year or result in death. Supplemental Security Income (SSI) is a Federal


income supplement program funded by general tax revenues designed to help aged ( 65 y), blind, and disabled people who have little or no income to pro- vide the basic need for food, clothing, and shelter. Workers’ Compensation and SSDI claims may re-


quire the assistance of an attorney, and as explained above, the veterinarian may not qualify for any benefits. Long- and short-term disability insurance guaran-


tees that a benefit of known value is paid within a designated period of time. If the disability pre- mium is being paid by the employer, the benefits will be taxable. With a plan paid for with after tax dollars by an individual, the benefits will not be taxed, and the policy is portable if the veterinarian leaves the practice. If a veterinarian becomes dis- abled and is unable to work for 2 or 3 months, short-term disability insurance may be indicated if there are insufficient savings to cover living ex- penses during that time. Long-term disability in- surance provides income for an extended period of time if the veterinarian is unable to work or can only work part time. Young veterinarians must note that a “25-year-old worker who makes $50,000 a year and suffers a permanent disability could lose $3.8 million in future earnings.”9 Any person who has a job should consider purchasing long-term dis- ability insurance. It is very important to have a primary physician


and to make the time to go in for the annual well visit. Medical conditions that are diagnosed early typically have better outcomes. Developing trust in a doctor takes time, and having a medical advo- cate is invaluable in the event of a severe injury or illness. If the doctor owns, has owned, or has been around horses, this is an added bonus as there will be familiarity with the job requirements of the equine veterinarian. In summary, purchasing a health insurance policy


with catastrophic coverage and a long-term disabil- ity policy will keep a person financially afloat during a prolonged disability. This will alleviate the stress associated with exhausting savings and in- vestments and taking on debt. One may still have to pare down nonessential items to budget for the change in financial circumstances. Working with a certified financial planner may help to position the veterinarian better to withstand a decrease in earn- ings. Having a worst-case scenario plan in place with area veterinarians and maintaining good med- ical records will allow for a smoother transition of patient care. Making time to find a personal doctor


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