Veterinary Industry Summary: May 5–11, 2024
Stats from the Veterinary Industry Tracker powered by Vetsource and AVMA
May 5–11, 2024
Two industry associations have taken differing positions on the workforce shortage issue.
The American Association of Veterinary Medical Colleges (AAVMC) recently commissioned a report titled “Demand for and Supply of Veterinarians in the U.S. to 2032.” According to the report, an estimated 52,986 new veterinarians will join the workforce through 2032 — a number that falls short of the 70,092 new veterinarians the report projected the country will need.
The report recommended reducing turnover, improving efficiency, and increasing the supply of graduates to remedy the shortfall.
Soon after the report’s release, the American Veterinary Medical Association (AVMA) responded with a letter to the AAVMC board of directors. Signed by Dr. Rena Carlson, AVMA president, and Dr. Janet Donlin, AVMA chief executive, the letter claimed that the report underestimated the number of new graduates expected by 2032. Drs. Carlson and Donlin also said the report failed to take into account various factors that influence demand for veterinary care, including pet owner spending fluctuations and pet ownership numbers.
To add a twist to the already complex and controversial topic, the AAVMC has pulled the report from its website “pending further review by the authors” after the Women’s Veterinary Leadership Development Initiative (WVLDI) commented about the report’s lack of gender inclusivity.
The report claimed that more women are being driven to the profession because there is no residency requirement compared to human medicine, which makes veterinary medicine an easier path to employment. It also stated the working hours are more moderate and controllable, which makes “veterinary medicine an attractive career for women who continue to shoulder a disproportionate share of household chores.”
“We did not choose an ‘easier’ career in veterinary medicine, which involved eight or more years of challenging college education, because we wanted more time to follow our true passion for folding socks and vacuuming floors,” said the WVLDI’s online comment.
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| +3.3% Revenue YoY (Last Week) |
-1.9% Visits YoY (Last Week) |
Year-over-year revenue continued to improve last week — up 3.3% compared to 2.7% the week prior. Year-over-year visits, however, dropped from -1.1% the previous week to -1.9% last week.
 -7.1%Heartworm YoY |
-8.0% Flea/Tick YoY |
 +5.3%Services YoY |
-2.3% Products YoY |
Year-over-year parasiticide protection remained in negative territory last week. Heartworm protection was -7.1%, an improvement from the previous week’s -9.1%, and flea/tick protection was -8.0%, a decline from -6.3% the week prior. Year-over-year revenue from services climbed from 4.4% to 5.3%, and revenue from products was -2.3%, a small drop from -2.2% the previous week.
| +4.9% Revenue YoY (Last 12 Months) |
-2.1% Visits YoY (Last 12 Months) |
The rolling 14-day trendline shows revenue and visits remaining fairly stable since early April.
| 5,488 Practices |
2.1M Revenue per Practice (Last 12 Months) |
10.5K Visits per Practice (Last 12 Months) |
New York jumped into the number-one spot for year-over-year revenue growth last week at 7.9%, while North Carolina was once again the only state to see positive growth in year-over-year visits at 0.1%. Minnesota enjoyed second place in both categories, with the state’s revenue growth at 7.8% and visits at -0.3%.
*Numbers are subject to change based on data availability and PIMS adjustments.
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