Veterinary Industry Summary: January 7-13, 2024
Stats from the Veterinary Industry Tracker powered by Vetsource and AVMA
January 7-13, 2024
As the Veterinary Meeting & Expo (VMX) wraps up in Orlando, one startup company is going home the winner of the seventh annual VMX Pet Pitch Competition.
Three finalists — Scribenote, Inventory Ally, and Radimal — were selected to participate in the Shark Tank-like event, where a representative from each company pitched their idea to a group of judges in front of a live audience of conference attendees.
After hearing the three compelling presentations and getting their questions answered, the judges chose Inventory Ally as the winning organization. Co-founded by well-known “inventory guru” Nicole Clausen, Inventory Ally is an inventory management program created to optimize inventory costs, reduce shortages, and decrease time spent managing a veterinary practice’s inventory.
VMX Pet Pitch Competition judge and NAVC board member Cindy Trice, DVM, said the judges were impressed with all of the pitches, but they chose Inventory Ally because of the strong market for the product, the economic and time savings it provides clinics, and the uniqueness of the product in the industry.
Congratulations to Inventory Ally, which will take home a cash prize of $5,000, a membership to Purina’s Pet Care Innovation Network, and an invitation to Purina’s annual Innovation Summit.
Check out the Veterinary Industry Tracker for daily stats.
| +1.9% Revenue YoY (Last Week) |
-4.5% Visits YoY (Last Week) |
Last week, as winter weather gripped much of the country, year-over-year revenue and visits declined unsurprisingly to 1.9% and -4.5% respectively.
 -12.4%Heartworm YoY |
-11.1% Flea/Tick YoY |
 +3.7%Services YoY |
-3.6% Products YoY |
Year-over-year parasiticide protection also declined last week, with heartworm protection at -12.4% and flea/tick protection at -11.1%. Growth in revenue from services slowed to 3.7% from 9.8% the previous week and revenue from products declined to -3.6% from 4.3% the week prior.
| +6.1% Revenue YoY (Last 12 Months) |
-1.4% Visits YoY (Last 12 Months) |
The rolling 14-day trendline for the past 12 months shows a dip in year-over-year revenue and visits in early January associated with New Years Eve.
| 5,279 Practices |
2.1M Revenue per Practice (Last 12 Months) |
10.5K Visits per Practice (Last 12 Months) |
Last week, North Carolina continued to dominate in year-over-year revenue growth at 10.7%, while West Virginia enjoyed the highest growth in year-over-year visits at 2.8%.
*Numbers are subject to change based on data availability and PIMS adjustments.
Need additional stats? You got it.
The Premium Veterinary Industry Tracker lets you drill into revenue categories, visit types, date ranges, states, and more.
| LEARN MORE » |