Veterinary Industry Summary: February 11–17, 2024
Stats from the Veterinary Industry Tracker powered by Vetsource and AVMA
February 11–17, 2024
A new industry-wide survey is shining a light on the adoption of — and attitude toward — artificial intelligence (AI) in veterinary practices.
Conducted by Digitail and the American Animal Hospital Association, the survey included the perspectives of nearly 4,000 veterinary professionals.
Key takeaways from the survey include:
- 39.2% of respondents reported that they are currently using AI tools in their practices.
- Nearly 70% of those respondents currently using AI tools use them daily or weekly.
- Most respondents currently using AI in practice are using it for imaging and radiology or administrative tasks.
- More than half of respondents believe that AI may give their hospital a competitive advantage.
- Nearly 68% of respondents believe that adopting AI could help them see more patients and increase revenue.
As many practices aim to increase visits and improve efficiency, could AI be just what the doctor ordered?
Check out the Veterinary Industry Tracker for daily stats.
| +1.4% Revenue YoY (Last Week) |
-3.9% Visits YoY (Last Week) |
Year-over-year revenue and visits fell last week, with revenue dropping to 1.4% from 3.1% the previous week, and visits tumbling to -3.9% from -2.6% the week prior.
 -9.6%Heartworm YoY |
-8.9% Flea/Tick YoY |
 +3.0%Services YoY |
-3.6% Products YoY |
Last week, year-over-year parasiticide protection dropped, with heartworm at -9.6% and flea/tick at -8.9%, compared to -5.4% and -3.2% respectively. While still in the positive, revenue from services fell from 4.2% the week prior to 3.0% last week. Revenue from products also declined, falling to -3.6% from -0.7% the previous week.
| +5.4% Revenue YoY (Last 12 Months) |
-1.9% Visits YoY (Last 12 Months) |
The rolling 14-day trendline shows revenue and visits leveling off after rebounding over the past month from yearlong lows.
| 5,337 Practices |
2.1M Revenue per Practice (Last 12 Months) |
10.5K Visits per Practice (Last 12 Months) |
As the only state to see positive growth in year-over-year visits at 1.1%, North Carolina also saw the most year-over-year revenue growth last week at 9.5%, with Massachusetts trailing closely behind at 8.6%.
*Numbers are subject to change based on data availability and PIMS adjustments.
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