Veterinary Industry Summary: December 24–30, 2023
Stats from the Veterinary Industry Tracker powered by Vetsource and AVMA
December 24–30, 2023
Happy New Year! We’re starting 2024 on a light note and sharing a few of our favorite — and funny! — 2024 predictions for vet med found in this article.
A few laughs, thanks to Matthew Asciutto, DVM, MS:
“In 2024, at least three computers will be destroyed at the hands of frustrated veterinarians after dictation software repeatedly transforms the word hemangiosarcoma into ‘Heeman’s chinos are from Omaha.’”
“As discussion about the utility of mid-level practitioners in veterinary medicine increases, 15% more doctors will express strong opinions on the matter without first asking a veterinary technician about their perspective.”
“With the increased prevalence of telehealth in veterinary medicine, more people than ever before will willingly perform digital rectal exams on their own pets.”
A few predictions that artificial intelligence will play a bigger role in vet med:
“One word: tech explosion. (Ok, that’s two words. Let’s call it ‘techsplosion.’ Or vet-techsplosion.)… It’s a revolution in how we vet, driven by a proliferation of new technology that, in 5 years, will make us look back at how we did things in 2023 the way I look back now at metal filing cabinets filled with paper patient cards. (Possibly, as with paper patient cards, with a bit of nostalgia. Like: remember how, before we had AI assistants, we used to write all of our own records, and how we had to memorize a bunch of sh**, and actually answer all those client questions, like in person?! Remember how we needed 7 vets to do the job that 2 of us are doing now?! Ah, good times.)” —Hubert Hiemstra, BVSc
“This pivotal year will see language-based AI integrate into veterinary practices, initially transforming administrative tasks like medical record summarization and SOAP note writing. Soon, AI will expand its role, aiding in test interpretation, treatment planning, and diagnoses, significantly reducing medical errors and improving care standards. This leap forward promises healthier animals, a safer food supply, and reduced animal suffering, heralding a new era of enhanced veterinary medicine.” —Aaron Smiley, DVM
“I predict that artificial intelligence will become ubiquitous. We’ll see increasingly advanced models used to improve the lives of veterinarians and technicians dramatically, enhance communication at every level, and raise the level of veterinary medicine practiced everywhere. It will make the people of the veterinary industry, as a whole, happier and more optimistic about their work.” —William Tancredi, DVM
Some AI-based satire from Greg Bishop, DVM:
“There’s no doubt that AI will rapidly change the veterinary industry this year. It’s going to completely revolutionize the practices that don’t have to physically restrain animals, handle sensitive medical equipment, spend extended periods of time talking to people face to face, and repeatedly clean up blood, urine, feces, and vomit off of non-skid floors.”
And finally, Megan Sprinkle, DVM, thinks vet med will focus on solving some of the problems we’ve identified:
“The veterinary profession has been spreading awareness of needs in mental health, well-being, diversity, work shortages, and access to care. In 2024, I think we are going to see more ‘So what do we do about it?’”
Read the full article here.
Check out the Veterinary Industry Tracker for daily stats.
| +4.0% Revenue YoY (Last Week) |
-0.8% Visits YoY (Last Week) |
Year-over-year revenue and visits held steady last week, with revenue up 4.0% and visits at -0.8%.
 -6.6%Heartworm YoY |
-0.2% Flea/Tick YoY |
 +4.9%Services YoY |
+1.2% Products YoY |
Year-over-year parasiticide protection improved slightly last week compared to mid-December. Heartworm and flea/tick protection improved to -6.6% and -0.2% from -6.9% and -4.5% respectively. Revenue from services fell last week to 4.9% from 5.8% in mid-December, while revenue from products grew to 1.2% from -1.2%.
| +6.2% Revenue YoY (Last 12 Months) |
-1.5% Visits YoY (Last 12 Months) |
The rolling 14-day trendline shows year-over-year revenue and visits holding steady.
| 5,302 Practices |
2.1M Revenue per Practice (Last 12 Months) |
10.5K Visits per Practice (Last 12 Months) |
As 2023 came to a close, North Carolina enjoyed the highest growth in year-over-year revenue at 10.9%, and West Virginia saw the most growth in year-over-year visits at 2.5%.
For daily state-specific stats, see the Premium Veterinary Industry Tracker at VeterinaryAnalytics.com.
*Numbers are subject to change based on data availability and PIMS adjustments.
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