Veterinary Industry Summary: February 5-11, 2023
Stats from the Veterinary Industry Tracker powered by Vetsource and AVMA
February 5-11, 2023
Revenue and visits continued along the same trends last week. Revenue growth is up, likely due to price increases, and visits are down across veterinary practices compared to the prior year. In addition to an uncertain economy and challenging labor market, the decline in visits may also be due to pet owners seeking alternatives to care such as pop-up clinics in retail stores, vaccine clinics, and online pharmacies.
Improving efficiency and addressing staff retention issues are top of mind for many practices. Time should also be allocated toward identifying opportunities to implement new workflows and automations that streamline services and improve the pet owner experience.
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 up this past week at 8.8% year over year, higher than the week prior. Visits are up at 1.1% year over year this past week, higher than the week prior.
Heartworm and flea/tick protection doses year over year are still down, but higher compared to the week prior. Revenue from services was up 10.2%, more than the week before, and revenue from products was up at 4.3%, significantly higher 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 remains fairly consistent, with slightly higher revenue growth and visits compared to the week prior.
Revenue per Practice
(Last 12 Months)
Visits per Practice
(Last 12 Months)
Maine continues to be 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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