Veterinary Industry Summary: January 1-7, 2023
Stats from the Veterinary Industry Tracker powered by Vetsource and AVMA
January 1-7, 2023
To better understand the decline in visits year over year, we dug into active patients and new patients per practice. New patients per practice were down almost 11% on average in 2022 compared to 2021, while active patients (any patient that has had a visit in the last 13 months) were up about 1%. While active patients were up on average for all of 2022, they increasingly declined each month from July through the end of the year. In December 2022, active patients per practice were -2%.
Keep in mind that 2021 was an exceptional year, so we should not be surprised to see the decline when comparing it to 2022. Focusing on engaging more often with clients and leveraging automated solutions to connect with pet owners will encourage more regular visits and care.
Last week: U.S. veterinary practices saw year-over-year revenue growth of 3.0% and 5.1% decline in visits.
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 3.0% year over year, more than the week prior. Visits are still down at -5.1% year over year this past week, which is up from the week prior.
Heartworm and flea/tick protection dispensed are still down year over year, but significantly higher than what we saw the week prior. Revenue from services was up 5.2%, slightly more than the week prior, and revenue from products was down 3.0%, up from the week prior.
Revenue YoY (Last 12 Months)
Visits YoY (Last 12 Months)
While the rolling 14-day trendline for revenue and visits growth year over year for the past 12 months was fairly consistent in 2022, we did see a small decline in both revenue and visits in Q4. In January, we’ll keep an eye on the slight upward trend that may be forming.
Revenue per Practice
(Last 12 Months)
Visits per Practice
(Last 12 Months)
Maine remains the top state for year-over-year revenue growth on average for the past 12 months, holding steady with 10% 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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