Veterinary Industry Summary: February 4–10, 2024
Stats from the Veterinary Industry Tracker powered by Vetsource and AVMA
February 4–10, 2024
Happy Valentine’s Day! If your visits are trending downward and you aren’t loving it (see what we did there?), you aren’t alone.
Vetsource data shows that in the past two years, new patients per practice are down 12%, active patients per practice are up just 1%, and lapsing patients — those who have not had a transaction in 14 months but have had at least one transaction in the last 18 months — are up 9%.
The first step to keeping your practice healthy is knowing your numbers. While you may not feel subtle changes over time, those changes can add up to hurt your business. Monitor your visits and revenue data so you can spot trends and make informed business decisions that will help you move the trendlines in the right direction.
According to a recent Today’s Veterinary Business article, one of the easiest ways to fill your appointment schedule is to reengage lapsed clients:
If your clinic doesn’t have a program targeting lapsed patients, implement one now. Third-party services can do it for you, but your practice information management software almost certainly can run reports on patients you haven’t seen in a while.
Additional tips provided in the article include:
- Updating your client reminders
- Ensuring your scheduling process is smooth and simple
- Sending earlier reminders offering “VIP” clients the opportunity to book wellness visits before appointment spots fill up
- Reaching out to clients monthly with educational messages so you stay on their radar
Check out the Veterinary Industry Tracker for daily stats.
| +3.1% Revenue YoY (Last Week) |
-2.6% Visits YoY (Last Week) |
Year-over-year revenue dropped from 7.3% the previous week to 3.1% last week, while year-over-year visits dipped to -2.6% from 2.2% the week prior.
 -5.4%Heartworm YoY |
-3.2% Flea/Tick YoY |
 +4.2%Services YoY |
-0.7% Products YoY |
Year-over-year parasiticide protection dispensed fell last week. Heartworm was -5.4%, a 4% decline compared to the week prior, and flea/tick was -3.2%, falling from 1.2% the previous week. Revenue from services and products also declined, with services revenue at 4.2% and products revenue at -0.7%, changes from 8.7% and 3.3% respectively the week prior.
| +5.5% Revenue YoY (Last 12 Months) |
-1.8% Visits YoY (Last 12 Months) |
The rolling 14-day trendline shows revenue and visits stabilizing after inclement weather affected many practices around the country in mid-January.
| 5,356 Practices |
2.1M Revenue per Practice (Last 12 Months) |
10.5K Visits per Practice (Last 12 Months) |
North Carolina continued to enjoy the highest year-over-year revenue growth in the country at 10.5% last week. It was also the only state to see positive growth in year-over-year visits at 1.8%.
*Numbers are subject to change based on data availability and PIMS adjustments.
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