Veterinary Industry Summary: July 30–August 5, 2023
Stats from the Veterinary Industry Tracker powered by Vetsource and AVMA
July 30–August 5, 2023
The workforce shortage continues to dominate industry conversations. The latest cover story for Today’s Veterinary Business, “The New College Try,” by Mark Cushing, JD, discusses how the opening of eight additional DVM programs won’t be enough to solve the veterinarian shortfall.
At the same time, multiple organizations are actively working to solve challenges related to staffing shortages by providing tools and encouraging more strategic thinking to leverage resources available today.
The Veterinary Hospital Managers Association (VHMA) recently released its Organizational Diagnosis and Design Toolkit, which helps veterinary practices solve workforce issues, improve client services, and enhance veterinary care. And, in response to the workforce shortage and increasing levels of staff burnout, VetPartners launched a taskforce this month focused on improving veterinary staff utilization.
Check out the Veterinary Industry Tracker for daily stats.
Revenue YoY (Last Week)
Visits YoY (Last Week)
Year-over-year revenue was up last week at 5.7%, a 0.5% improvement over the week prior. While visits were still down at -0.4%, they rebounded a bit compared to the previous week at -1.2%.
Heartworm protection dispensed was still down last week at -1.5%, a slight improvement over the prior week, while flea/tick protection dispensed continued to fall, from -0.7% to -1.0%. Revenue from services and products grew last week, at 7.1% for services and 2.8% for products.
Revenue YoY (Last 12 Months)
Visits YoY (Last 12 Months)
The rolling 14-day trendline shows revenue and visits growth year over year continuing to trend slightly higher in 2023 than 2022. Revenue is showing a pattern of growth, at 6.6%, compared to 6.2% to 6.4% in recent weeks.
Revenue per Practice
(Last 12 Months)
Visits per Practice
(Last 12 Months)
At 11.3% growth, North Carolina took over the top spot for year-over-year revenue growth on average for the past 12 months. Tennessee followed closely behind at 11.1%. Interestingly, both states experienced growth in year-over-year visits as well, with North Carolina at 1.7% and Tennessee at 2.6%.
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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