Veterinary Industry Summary: Nov 13-Nov 19, 2022

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

 

Nov 13-Nov 19, 2022

On average, visits are down, new patients per practice are down, and lapsing patients continue to rise. As a result, for the last two months, active patients per practice have started to decline as well. While active patients per practice are still similar to November 2020, the average number of appointments per practice in October were lower than they were in 2021, 2020, and 2019. Practices should pay close attention to their numbers and be ready to implement growth generation initiatives before these trends impact revenue. Price increases can only do so much.

You can see more details below and check out the Veterinary Industry Tracker for daily stats.

 

LAST WEEK
Revenue per Practice
A bar graph showing revenue per practice for last week, compared to the previous year.

 

+3.4%
Revenue YoY (Last Week)
-4.3%
Visits YoY (Last Week)

 

Revenue growth was up slightly this past week at 3.4% year-over-year, which is pretty steady with what we have seen over the past few weeks. Visits are still down at -4.3% year-over-year this past week.

 


LAST WEEK
Months of Parasiticide Protection Dispensed
-6.3%
Heartworm YoY
-8.0%
Flea/Tick YoY
Service vs Product Revenue Breakdown
+5.1%
Services YoY
-1.3%
Products YoY

 

Heartworm and flea/tick protection dispensed and product revenue are still down year-over-year. While revenue from services was up 5.1% compared to this week last year.

 


LAST 12 MONTHS
Growth in Revenue and Visits
A line graph showing revenue and visits per practice, for a 14 day rolling period.

 

+5.7%
Revenue YoY (Last 12 Months)
-2.6%
Visits YoY (Last 12 Months)

 

The rolling 14-day trendline for revenue and visits growth year-over-year for the past 12 months has been consistently down in 2022 compared to 2021. This month we saw average revenue dip below 6% where it is still at now, which is half of what we saw in April 2022. Metrics are still gradually trending down in this 4th quarter.

 


LAST 12 MONTHS
Revenue Growth by State
A U.S. map, using color shades to show revenue growth by state.

 

Patient Demographics
4,588
Practices
1.9M
Revenue per Practice
(Last 12 Months)
10.6K
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 10.8% growth. 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.


Need additional stats? You got it.

The Premium Veterinary Industry Tracker lets you drill into revenue categories, visit types, date ranges, states, and more.

 

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