In order to achieve the highest standard of service to clients, veterinarians need to manage the business side of a veterinary clinic and to appropriately price services. It is necessary for the owner of an animal hospital to develop a deep understanding of not only medicine but principles of sound business financial health. Veterinary practice has been cited as one of the better small business ventures in today’s economy. According to certain studies, however, many veterinarians are not experiencing the potential profit possibilities of owning a personal small business. Research has shown that a keen understanding of the use of standard business principles and accounting procedures can enhance many aspects of veterinary practice ownership, including personal job satisfaction. Profitability is affected by a practitioner’s ability to provide quality medical care and present the value of that care to clients. As business owners, veterinarians must also become familiar with accounting methods and reports. Consistent review and a basic understanding of financial documents such as income statements, balance sheets and cash flow statements are requisite to a financially healthy veterinary practice.