Veterinary Industry Summary: May 7 – 13, 2023
Stats from the Veterinary Industry Tracker powered by Vetsource and AVMA
May 7 – 13, 2023
In good news for veterinarians, a recent AVMA survey showed improvements in the financial health of veterinarians. Recent graduates are being paid more and their student debt levels have declined. While this is certainly good news for veterinary professionals, how do these increased labor costs contribute to the rising costs of veterinary care and pet owners exploring new options for products and services?
Check out the Veterinary Industry Tracker for daily stats.
Revenue YoY (Last Week)
Visits YoY (Last Week)
Revenue was up this past week at 4.9% year over year, fairly flat compared to the week prior. Visits are still on the decline at -2.2% year over year this past week, slightly lower than the week before.
Heartworm and flea/tick protection dispensed are still down, slightly lower than the week prior. Revenue from services was up at 6.0%, the same as the week before, and revenue from products was at 1.9%, lower than the preceding week.
Revenue YoY (Last 12 Months)
Visits YoY (Last 12 Months)
The rolling 14-day trendline shows revenue and visits growth year over year trending slightly higher in 2023 than 2022. Revenue may be showing a pattern of slight growth, rising to a high of 5.8% compared to prior weeks holding at 5.6%
Revenue per Practice
(Last 12 Months)
Visits per Practice
(Last 12 Months)
Maine continues leading for year-over-year revenue growth on average for the past 12 months, with 10.2% growth, followed by North Carolina at 9.8 % and Tennessee at 9.5%.
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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