Veterinary Industry Summary: Dec. 11-17, 2022
Stats from the Veterinary Industry Tracker powered by Vetsource and AVMA
Dec. 11-17, 2022
Manufacturers sent notification of their 2023 prices increases, some as high as 10%. We’re paying attention to how veterinary practices will implement these increases and what the impact will be on revenue and visits. To reduce sticker shock while maintaining margins, practices will need to be more intentional with their overall pricing strategy and pricing at the code level (as opposed to the category level). In 2022, on average, practices implemented a 9-9.5% increase on services, and a 6-6.5% increase on products. Considering the outpaced decline in product-only purchase visits compared to well and sick visits, practices may be able to leverage service revenue growth to offset increasing product costs to create a competitive advantage on product sales.
Last week: U.S. veterinary practices saw year-over-year revenue growth of 2.7% and -5.0% decline in visits.
You can see more details below and check out the Veterinary Industry Tracker for daily stats.
| +2.7% Revenue YoY (Last Week) |
-5% Visits YoY (Last Week) |
Revenue growth was still up this past week at 2.7% year-over-year, though lower than the week prior. Visits are still down at -5.0% year-over-year this past week, which is down compared to the week prior.
 -5.9%Heartworm YoY |
-6.0% Flea/Tick YoY |
 +4.4%Services YoY |
-2.0% Products YoY |
Heartworm and flea/tick protection dispensed are still down year-over-year, and lower than what we saw the week prior. Revenue from services was up 4.4%,slightly less than the week prior, and revenue from products was down 2.0%, more than the week prior.
| +5.2% Revenue YoY (Last 12 Months) |
-3.1% Visits YoY (Last 12 Months) |
The rolling 14-day trendline for revenue and visits growth year-over-year for the past 12 months has been consistently down in 2022 compared to 2021. In November, we saw average revenue dip below 6%, which is half of what we saw in April. Metrics have been pretty steady, but are still gradually trending down in this 4th quarter.
| 4,566 Practices |
1.9M Revenue per Practice (Last 12 Months) |
10.6K Visits per Practice (Last 12 Months) |
Maine is again 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 on VeterinaryAnalytics.com.
*Numbers are subject to change based on data availability and PIMS adjustments.
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