Veterinary Industry Summary: Aug 14-20, 2022
Stats from the Veterinary Industry Tracker powered by Vetsource and the AVMA
Aug 14-20, 2022
While much of the country continued to experience extreme weather last week, veterinary practices again saw modest year-over-year revenue growth and negative year-over-year growth in visits. Year-over-year growth was at 4.7% for revenue and -3.1% for visits. Revenue from professional services again accounted for much of that growth in revenue, at over 6% year-over-year. Months of heartworm and flea/tick protection dispensed were down again this past week but up compared to the week prior. Product revenue was again flat, the same as we saw the week prior. You can see more details below and check out the Veterinary Industry Tracker for daily stats.
Revenue YoY (Last Week)
Visits YoY (Last Week)
Revenue growth was at 4.7% this past week while visits continue to lag behind and were down -3.1% year-over-year this past week. Revenue growth is slightly higher than what we saw the week prior, while visits growth is slightly lower.
Heartworm and flea/tick protection dispensed were down again this past week, while revenue from services was up over 6% and revenue from products was essentially flat. Compared to the week prior, all metrics are up except for product revenue which was the same.
Revenue YoY (Last 12 Months)
Visits YoY (Last 12 Months)
The rolling 14-day trendline for revenue and visits growth year-over-year was fairly consistent in 2021, but then declined in January 2022. This spiked in February but then declined again and appears to be settling in overall at a lower rate than what we saw in 2021. Recently we saw a small spike in July and are now seeing it start to climb in August.
Revenue per Practice
(Last 12 Months)
Visits per Practice
(Last 12 Months)
Maine is the top state for year-over-year revenue growth on average for the past 12 months, with 10.5% growth. For daily state-specific stats, please see the Premium Veterinary Industry Tracker.
*Numbers are subject to change based on data availability and PIMS adjustments.
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