Vetsource Veterinary Analytics > Blog > Weekly Industry Summaries > Veterinary Industry Summary: July 24-30, 2022

Veterinary Industry Summary: July 24-30, 2022

August 2, 2022|
Print This Article Print This Article
industryblog_banner-350

Stats from the Veterinary Industry Tracker powered by Vetsource and the AVMA

 

July 24-30, 2022

Veterinary practices in the U.S. closed out July with business performance similar to the week prior. Year-over-year growth was at 2.8% for revenue and -5% for visits. Revenue from professional services still carried most of that growth in revenue. Months of heartworm and flea/tick protection dispensed was down again this past week. See more details below and check out the Veterinary Industry Tracker.

 

LAST WEEK
Revenue per Practice

A bar graph showing revenue per practice for last week, compared to the previous year

 

+2.8%
Revenue YoY (Last Week)		 -5.0%
Visits YoY (Last Week)

 

Revenue growth was at 2.8% this past week, only slightly higher than the week prior. Visits continue to lag behind and were down -5% year-over-year this past week, which is the same as what we saw the week prior.

 

LAST WEEK
Months of Parasiticide Protection Dispensed
-5.7%
Heartworm YoY		 -7.4%
Flea/Tick YoY
Service vs Product Revenue Breakdown
+4.6%
Services YoY		 -2.2%
Products YoY

 

Heartworm and flea/tick protection dispensed and revenue from products were all down this past week, while revenue from services was up over 4%. Compared to the week prior, all metrics except for revenue from services are down.

 

LAST 12 MONTHS
Growth in Revenue and Visits

A line graph showing revenue and visits per practice, for a 14 day rolling period.

 

+7.0%
Revenue YoY (Last 12 Months)		 -0.5%
Visits YoY (Last 12 Months)

 

The rolling 14-day trendline for revenue and visits growth year-over-year showed a decline in January 2022. This rebounded in February but then declined again and appears to be settling in at a lower rate than what we saw in 2021. We saw an uptick in early July that is now already on the downturn.

 

LAST 12 MONTHS
Revenue Growth by State

A U.S. map, using color shades to show revenue growth by state.

 

Patient Demographics
4,697
Practices		 1.9M
Revenue per Practice
(Last 12 Months)		 10.7K
Visits per Practice
(Last 12 Months)

 

Maine is the top state for year-over-year revenue growth on average for the past 12 months, with 10.3% growth. For daily state-specific stats, please see the Premium Veterinary Industry Tracker.

 

*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 »

Topics

Articles by Year

Sign up for our weekly newsletter