Veterinary Industry Summary: March 24–30, 2024
Stats from the Veterinary Industry Tracker powered by Vetsource and AVMA
March 24–30, 2024
It’s no secret that staffing has been a struggle for many veterinary practices. To dig into what practices can do to retain their existing employees, the American Animal Hospital Association (AAHA) sent a survey to more than 110,000 veterinary professionals in March 2023.
With nearly 15,000 responses — split almost evenly between DVM and non-DVM roles — the 2023 AAHA Path to Better Retention in Veterinary Medicine survey revealed that 30% plan to leave their current role. Of those 30%, half plan to leave practice for another area of veterinary medicine or to pursue an entirely different career path.
More than half of those planning to leave cited fair compensation as their biggest reason for leaving, while 29% cited appreciation for work. Non-DVMs were almost twice as likely as DVMs to name fair compensation as their number one reason for leaving their job.
Of the 70% of respondents planning to stay in their current role, more than 40% cited teamwork as their number reason for staying, while nearly 35% cited modern medicine and 32% cited meaningful work. Fair compensation, flexibility, and appreciation for work rounded out the top six reasons professionals planned to stay in their existing roles.
Download AAHA’s free white paper to learn more and to access the organization’s original retention research.
Check out the Veterinary Industry Tracker for daily stats.
| +3.2% Revenue YoY (Last Week) |
-2.6% Visits YoY (Last Week) |
Year-over-year revenue and visits fell slightly again last week compared to the week prior. Revenue slipped from 3.9% to 3.2%, while visits dropped to -2.6% from -1.3% the previous week.
 -6.4%Heartworm YoY |
-5.9% Flea/Tick YoY |
 +4.7%Services YoY |
-1.6% Products YoY |
Last week, year-over-year heartworm protection tumbled to -6.4%, and flea/tick protection fell to -5.9%, declines from -2.6% and 3.4% respectively the week prior. While revenue from services remained flat, revenue from products dropped from 1.3% to -1.6%.
| +5.2% Revenue YoY (Last 12 Months) |
-2.1% Visits YoY (Last 12 Months) |
The rolling 14-day trendline shows revenue and visits remaining fairly flat since mid-March.
| 5,425 Practices |
2.1M Revenue per Practice (Last 12 Months) |
10.5K Visits per Practice (Last 12 Months) |
North Carolina enjoyed the highest growth in year-over-year revenue and visits last week, at 9.3% and 0.9% respectively. New Hampshire had the second-highest revenue growth at 8.5%, and Iowa was the only other state showing positive growth in year-over-year visits at 0.4%.
*Numbers are subject to change based on data availability and PIMS adjustments.
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