Veterinary Industry Summary: January 22-28, 2023
Stats from the Veterinary Industry Tracker powered by Vetsource and AVMA
January 22-28, 2023
In 2022, negative visit numbers may be attributable to comparing against 2021, which was an exceptional year for the industry. Now, in January 2023, we are comparing visits against January 2022 and yet we continue to see a decline. Maintaining growth will be challenging this year with an uncertain economy and continued workforce shortages. The 2022 AVMA Veterinary Practice Owners Survey suggests that if practices increase efficiency, they can increase productivity and increase visits without having to hire more staff.
Improving workflows, adopting technology to automate and simplify administrative tasks, and engaging and leveraging staff are all key to improving efficiency. Practices that take an offensive approach and experiment with new processes and systems will likely come out on top.
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 6.7% year over year, lower than the week prior. Visits are down at -2.0% year over year this past week, lower than the week prior.
Heartworm and flea/tick protection doses year over year are back down, and significantly lower compared to the week prior. Revenue from services was up 8.7%, less than the week before, and revenue from products was flat at 0.8%, significantly lower 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 consistent, with no change in revenue growth or visits compared to the week prior, despite the spike at the end of January.
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, 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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