Trading Secrets Podcast Episode 238 Summary

Title: Dr. Josie Horchak: Stepping Away from Owning Her Own Clinic to Rewriting the Pet-Care Model, Everything YOU Need to Know About the Veterinarian Career Path, Advice for Pet Owners, and the $$$ Behind It All!

Host: Audioboom Studios

Guest: Dr. Josie Horchak – Veterinarian Entrepreneur and Podcast Host

Release Date: June 9, 2025

Introduction

In Episode 238 of Trading Secrets, host Jason Tartick welcomes Dr. Josie Horchak, a seasoned veterinarian with over 15 years of experience, renowned for her exceptional patient care. Dr. Josie recently transitioned from owning multiple veterinary clinics to establishing Concierge Vet in Nashville, offering at-home wellness visits, telemedicine, and personalized services. Additionally, she hosts a successful podcast under the Premier Network alongside Bobby Bones since 2024.

Educational Path and Financial Investment in Veterinary Medicine

Duration and Costs: Dr. Josie outlines the rigorous educational journey to become a veterinarian:

• Undergraduate Degree: 4 years (Pre-Med at the University of Dayton)
• Veterinary School: 4 years (Ohio State University)
• Optional Specialization: Additional 4-5 years for residencies (e.g., internal medicine, surgery, ophthalmology)

Total Time Commitment: Approximately 8 years without specialization.

Financial Investment:

• In-State Tuition: ~$25,000 per year at Purdue University (not her chosen path)
• Out-of-State Tuition: ~$84,000 per year at Ohio State University
• Total Debt: Most veterinarians graduate with around $250,000 in student debt. (Timestamp: [03:46])

Quote:

"Yes, a couple hundred grand. I got into multiple vet schools and I am from Indiana, so Purdue is my in-state school... the difference, if I had gone in-state, it would have been 25k a year. Going out of state to Ohio State was $84,000 a year." – Dr. Josie Horchak ([03:01])

Career Trajectories and Salary Insights

Initial Salaries: Upon graduating vet school, veterinarians typically earn:

• Starting Salary: ~$85,000 (as of 2017)
• Current Associates: ~$110,000 - $125,000 in major urban areas ([05:00])

In contrast, Medical Doctors (MDs) often start around $500,000 annually, highlighting a significant disparity between the two professions.

Career Paths:

• Private Practice: Opportunity to become a partner by buying into the clinic.
• Corporate Veterinary Chains (e.g., Banfield, owned by Mars): Typically offer higher salaries due to greater resources, including signing bonuses and advanced technology.

Dr. Josie emphasizes the lack of a clear career ladder in veterinary medicine, noting that most veterinarians enter general practice without extensive business training.

Quote:

"Most veterinarians don't have a great business acumen... usually you get into a practice, you work as an associate. If it's privately owned, then you can have the option to potentially buy in and be a partner." – Dr. Josie Horchak ([06:35])

Impact of Private Equity on Veterinary Practices

Market Growth:

• US Veterinary Services Market: Projected to reach $66 billion in 2024 with a compound annual growth rate (CAGR) of 4.7%.
• Projected Expansion: Expected to grow to $70 billion by 2029.

Private Equity (PE) Influence:

• PE firms are acquiring veterinary clinics to optimize profitability, similar to trends observed in the dental industry.
• Consumer Impact:
  • Positive: Enhanced technology, better resources, and possibly lower costs through economies of scale.
  • Negative: Loss of personalized care, increased prices, and higher patient volumes leading to a depersonalized experience.

Quote:

"TEN THE numbers are showing that people are paying more. The industry is expanding and there's growth in it, which means eyeballs and money is spent in it." – Host Jason Tartick ([26:55])

Mental Health Challenges in Veterinary Medicine

Veterinarians face higher rates of psychological distress and suicide compared to other medical fields. Dr. Josie discusses the contributing factors:

• Compassion Fatigue: Constant exposure to pet illnesses and emergencies.
• Financial Stress: High student debt coupled with relatively lower salaries.
• Emotional Burden: Difficult decisions, such as euthanizing animals when owners can't afford treatment.

Quote:

"The compassion fatigue that veterinarians face is real. Burnout is definitely happening within our field." – Dr. Josie Horchak ([16:11])

Entrepreneurial Journey: From Associate Veterinarian to Concierge Vet

Transition to Entrepreneurship:

• Move to Nashville: In 2020, Dr. Josie moved from Chicago to Nashville due to her husband's job.
• Initial Venture: Partnered with a startup, owning 49% of two clinics, handling administrative tasks while focusing on veterinary care. She contributed nearly $500,000 in startup capital and eventually sold her shares to pursue a new venture.

Concierge Vet Model:

• Services Offered: At-home visits, 24/7 availability via personal cell, telemedicine consultations.
• Business Structure: Owns 100% of the concierge service, minimizing overhead by not maintaining a brick-and-mortar clinic.
• Pricing Structure:
  • Platinum Plan: $3,000 annually, covering vaccines, tests, medications, and unlimited consultations.
  • Pro-rated Plans: Reduced to $2,000 for clients outside the primary service area.

Quote:

"My clients are amazing. They really only call me if there's like a major issue. And so having that peace of mind is worth every penny for them." – Dr. Josie Horchak ([32:20])

Advice for Pet Owners

1. Pet Insurance:

• Benefits: Essential for covering unexpected medical expenses, especially pre-existing conditions.
• Recommendation: Obtain pet insurance for puppies or kittens immediately to avoid exclusions later.

Quote:

"Whether or not you go to a PE backed clinic or a private practice, the cost of veterinary medicine is going up... the only way for us to kind of help consumers with this is to get pet insurance." – Dr. Josie Horchak ([38:38])

2. Vaccinations:

• Core Vaccines: Rabies, Distemper, Parvo, Bordetella (Kennel Cough), and Leptospirosis.
• Importance: Protects both pet and public health; critical even for indoor pets as rabies cases can arise unexpectedly.

Quote:

"There are four core vaccines... They are super duper important... There is no treatment [for rabies], so it's not just for their health, it's for our health, too." – Dr. Josie Horchak ([39:07])

3. Nutrition:

• Recommended Brands: Purina Pro Plan, Royal Canin, and Hill Science Diet for balanced nutrition.
• Avoid: Overly marketed boutique raw foods that may lack regulation and value.

Quote:

"Kibble gets a really bad rap, but if you choose the right brand, it's well-balanced and safe." – Dr. Josie Horchak ([41:22])

4. Dental Health:

• Frequency: Ideally daily brushing; at least weekly to bi-weekly for optimal health.
• Recommended Products: Stewarts Freeze Dried Beef Liver treats, Yomp silicone toys for gentle chewing.
• Costs: Professional cleanings ~$600-$800; tooth extractions ~$1,000-$1,200.

Quote:

"Pets whose owners brush their teeth have exponentially better oral health and can avoid extensive dental procedures." – Dr. Josie Horchak ([54:53])

5. General Care Tips:

• Bathing: Only when dirty; monthly or bi-monthly for dogs, using quality shampoos like Burt’s Bees.
• Avoid Hard Chews: Prevent dental fractures by avoiding hard bones and antlers.

Quote:

"Use a good dog shampoo, and you can't really overbathe them as long as you're using a quality product." – Dr. Josie Horchak ([53:49])

End-of-Life Considerations

Deciding when to euthanize a pet is emotionally challenging. Dr. Josie advises:

• Consult Your Veterinarian: Seek objective guidance to assess quality of life.
• Use Quality of Life Scales: Tools to quantify and track your pet’s well-being.
• Support Systems: Lean on colleagues, family, and mental health resources.

Quote:

"It's really important to have somebody that can help guide you in that decision." – Dr. Josie Horchak ([51:54])

Key Takeaways and Trading Secrets

1. Preventative Care: Regular check-ups, vaccinations, and dental care significantly enhance pets' quality and longevity.
2. Financial Planning: High educational costs and rising veterinary fees make pet insurance a crucial investment.
3. Choosing a Vet: Understand the implications of corporate ownership vs. private practice to ensure personalized care for your pet.
4. Entrepreneurial Opportunities: Innovative business models like concierge vet services can offer enhanced pet care and work-life balance for veterinarians.
5. Mental Health Awareness: The veterinary profession demands compassion and resilience, with significant mental health challenges that need addressing.

Final Trading Secret from Dr. Josie:

• Tax Benefits: In 2025, pet owners with certified service animals can deduct related expenses as medical costs, provided they meet specific criteria. Additionally, pets involved in business operations or charitable activities can offer further tax deductions. (Timestamp: [57:09])

Closing Remark: Dr. Josie shares a sobering reminder about the dangers of pets ingesting harmful substances like sourdough dough, emphasizing the critical importance of monitoring pets to prevent life-threatening situations.

Quote:

"You've got a whole dough sourdough loaf growing in their stomach... the yeast releases ethanol, which is alcohol. Alcohol gets absorbed into their bloodstream and they get like life-threatening drunk." – Dr. Josie Horchak ([57:12])

Conclusion

Episode 238 of Trading Secrets offers an in-depth exploration of the veterinary profession, highlighting the financial, emotional, and entrepreneurial aspects intertwined with pet care. Dr. Josie Horchak provides invaluable insights for both aspiring veterinarians and pet owners, emphasizing the importance of preventive health, financial planning, and compassionate care.

For more detailed discussions and personal stories, listeners are encouraged to tune into Dr. Josie Horchak’s podcast available on various platforms.

Useful Links:

• Dr. Josie Horchak’s Instagram: @DrJosieVet
• Concierge Vet Services: ConciergeDVM.com