Veterinary Industry Summary: December 25-31, 2022
Stats from the Veterinary Industry Tracker powered by Vetsource and AVMA
December 25-31, 2022
Revenue and visits seem to have leveled off since early October. While the outlook for 2023 is still unknown, practices should be prepared if there is a recession in 2023 and pet owners cut back on spending. Communicating with pet owners about treatment options and aligning on the best fit for the patient and client based on their goals and financial situation will empower pet owners and help to address any concerns around the affordability of veterinary care.
Last week: U.S. veterinary practices saw year-over-year revenue growth of 2.0% and 7.4% decline in visits. (Last week included two holidays. Please note the tracker compares YoY numbers to the same weekday, not the date, from the prior year. The increase in revenue on Saturday, December 31 is because the Saturday in 2021 was actually January 1.)
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 down this past week at 2.0% year-over-year, slightly less than the week prior. Visits are still down at -7.4% year-over-year this past week, which is lower than the week prior.
Heartworm and flea/tick protection dispensed are down year-over-year, significantly lower than what we saw the week prior. This may be due to the holidays falling on different days. Revenue from services was up 4.8%, slightly more than the week prior, and revenue from products was down 5.8%, more than the week prior.
Revenue YoY (Last 12 Months)
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 fairly consistent since April 2022. We may be seeing some leveling off heading into January 2023.
Revenue per Practice
(Last 12 Months)
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, holding steady 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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