Earlier this year, the Federal Trade Commission (FTC) issued a final rule to promote competition by banning noncompetes nationwide. This long-awaited move aims to protect the freedom of workers to change jobs, increase innovation, and foster new business formation.
A ban on noncompetes means you finally get the freedom to choose the next steps in your career and – for those with an entrepreneurial spirit – that’s exciting news! We look at how this new ruling opens doors for entrepreneurs wanting to get started in veterinary neurology.
The Freedom to Choose
According to the FTC, nearly one in five Americans have, up until now, been subject to a noncompete. This widespread practice imposed contractual conditions that prevented workers from taking a new job or starting a new business. In addition, noncompetes have forced workers to stay in jobs they want to leave or an area where they no longer want to live. Chair of the FTC, Lina M. Khan, states:
“Noncompete clauses keep wages low, suppress new ideas, and rob the American economy of dynamism, including from more than 8,500 new startups that would be created a year once noncompetes are banned. The FTC’s final rule to ban noncompetes will ensure Americans have the freedom to pursue a new job, start a new business, or bring a new idea to market.”
FTC Chair, Lina M. Khan
Evidence shows that noncompete clauses hinder innovation and business dynamism in multiple ways – from preventing would-be entrepreneurs from forming competing businesses to inhibiting workers from bringing innovative ideas to new companies [1]. Veterinary Practice News [2] supports this move stating:
“The ruling could also foster a wave of entrepreneurship within the veterinary field. Veterinarians who were previously hesitant to leave established hospitals due to noncompete clauses may now feel more confident in starting or buying their own clinics. This could increase the number of veterinary hospitals, enhancing access to veterinary care for pet owners.”
Veterinary Practice News
References:
[1] https://www.ftc.gov/news-events/news/press-releases/2023/01/ftc-proposes-rule-ban-noncompete-clauses-which-hurt-workers-harm-competition
[2] https://www.veterinarypracticenews.com/ftc-noncompetes-ruling-impact/#:~:text=Veterinarians%20who%20were%20previously%20hesitant,veterinary%20care%20for%20pet%20owners.
Looking to Take the Leap?
With the landscape now shifting, the freedom to choose is wide open. But where do you start? Working with a trusted business partner by your side has never been more important. At the same time, retaining autonomy, and empowering you and your team, remains crucial to your success.
At Hallmarq, we’ve developed unique products and commercial models to address the cost and complexity of installing MRIs into veterinary hospitals. We’ve been doing it for over two decades and have completed over 140 successful MRI installations worldwide. Our specialized, high-quality imaging solution is cost-effective, flexible, and user-friendly. Designed to address the cost and complexities of offering advanced imaging at your practice, our 1.5T MRI collaboration is designed to support your goals.
Why the Hallmarq Solution?
Quite simply, imaging is in our DNA! If you’re contemplating a move, looking to go it alone, or just want to gather the facts for now, you can be confident knowing –
- We have a deep understanding of – and experience in – advanced veterinary imaging
- Image quality is at the heart of all that we do
- We’re passionate about addressing the cost, complexity, and commitment of offering 1.5T MRI
Hallmarq offers two distinct commercial models to best align with your practice goals, budget, and business strategy. And, with reduced startup costs, you can minimize upfront capital expenditure and stabilize operational costs with capped monthly payments.
What’s more, our zero-helium system with a built-in RF shield, access to Hallmarq-licensed remote operators, and a guaranteed uptime of over 99% all combine to make life easier. You can focus on patient care, leaving us to do the rest.
Advancing Advanced Imaging
A ban on noncompetes means you finally get the freedom to choose the next steps in your career. Take, for example, the case of Dr Adam Moeser, owner of Wisconsin Veterinary Neurology and Surgical Center, looking to get ahead in small animal neurology. Keen to secure an alternative to the traditional – and expensive – bank loan, his research led him to Hallmarq Veterinary Imaging. With veterinary-specific solutions that address the cost, commitment, and complexity of going it alone, Hallmarq provided the answers that Dr Moeser needed to get started. He explains:
“I am a new entrepreneur, and the start-up costs for a veterinary neurologist were proving to be a major obstacle. Hallmarq’s leasing program allowed me the financial flexibility that I needed to get my company off the ground and invest in other areas of my business.”
Dr Adam Moeser, DVM, DACVIM (Neurology) Wisconsin Vet Neurology and Surgical Center
Next Steps
If you’re entrepreneurial, looking to go it alone, or just fact-finding for now, then we’d encourage you to reach out to us for more information on how you can get started in small animal 1.5T MRI.
Get in touch with Jim Catullo, our Small Animal Sales Director (North America) to find out more. With over 20 years of experience in veterinary imaging, Jim has previously worked with Sound (ultrasound, digital radiography, and PACS products) and most recently at EPICA Animal Health selling their range of advanced CT systems. He joined Team Hallmarq in May ’24.
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