Veterinary Industry Summary: August 18–24, 2024
Stats from the Veterinary Industry Tracker powered by Vetsource and AVMA
August 18–24, 2024
The Federal Trade Commission’s (FTC) final rule banning noncompete agreements has been blocked by a federal judge in Texas.
The ban was set to go into effect on September 4, nearly five months after the FTC issued its final rule banning most noncompetes regardless of industry or profession. The U.S. Chamber of Commerce and multiple other business groups filed suit, challenging the rule. Last week, Judge Ada Brown of the U.S. District Court for the Northern District of Texas said the FTC does not have the legal authority to ban noncompete agreements.
According to the FTC website, “The FTC is considering an appeal. The decision does not prevent the FTC from addressing noncompetes through case-by-case enforcement actions.”
Check out the Veterinary Industry Tracker for daily stats.
| +2.3% Revenue YoY (Last Week) |
-2.8% Visits YoY (Last Week) |
Veterinary industry year-over-year revenue improved from 1.7% to 2.3% last week, while year-over-year visits dropped from -2.6% to -2.8%.
 -5.6%Heartworm YoY |
-5.5% Flea/Tick YoY |
 +3.6%Services YoY |
-1.7% Products YoY |
Last week, year-over-year heartworm and flea/tick protection were -5.6% and -5.5% respectively, changes from -5.8% and -5.1% the week prior. Year-over-year service revenue improved to 3.6% from the previous week’s 2.9%, and product revenue fell from -1.6% to -1.7%.
| +3.6% Revenue YoY (Last 12 Months) |
-2.5% Visits YoY (Last 12 Months) |
The rolling 14-day trendline showed revenue and visits remaining fairly consistent for the past month.
| 5,451 Practices |
2.1M Revenue per Practice (Last 12 Months) |
10.5K Visits per Practice (Last 12 Months) |
Connecticut’s year-over-year revenue growth was higher than any other state last week at 7.2%, closely followed by Minnesota and Colorado at 6.8% and 6.7% respectively. Minnesota saw the highest year-over-year visits growth at 0.3%, followed by Connecticut at -0.3%.
*Numbers are subject to change based on data availability and PIMS adjustments.
Need additional stats? You got it.
The Premium Veterinary Industry Tracker lets you drill into revenue categories, visit types, date ranges, states, and more.
| LEARN MORE » |