Veterinary Industry Summary: November 26–December 2, 2023
Stats from the Veterinary Industry Tracker powered by Vetsource and AVMA
November 26–December 2, 2023
The cost of veterinary care continues to get media attention and dominate industry conversations. According to the Veterinary Hospital Managers Association (VHMA), some practices are reporting declines in client acceptance of pet care recommendations because of inflation and the cost of care.
As a way to help clients in need during uncertain financial times, some practices are creating charitable funds. A recent VHMA survey found that:
- 44% of respondents said their veterinary practice has a charitable fund in place
- 44% said they do not have a charitable fund
- 6% are considering starting a charitable fund
Of the respondents who said their veterinary practice has a charitable fund:
- 62% distribute charitable funds on a case-by-case basis
- 9% use the fund for emergencies only
- 3% use the fund for established clients only
- 26% use their charitable fund in different ways, including supporting nonprofit or no-kill shelters to help humanely euthanize pets for clients who can’t afford it
Check out the Veterinary Industry Tracker for daily stats.
| +4.6% Revenue YoY (Last Week) |
-1.2% Visits YoY (Last Week) |
Year-over-year revenue fell last week to 4.6% from 5.4% the week prior, while visits declined to -1.2% from -0.5% the previous week.
 -11.0%Heartworm YoY |
-7.9% Flea/Tick YoY |
 +6.6%Services YoY |
-1.2% Products YoY |
Year-over-year heartworm protection was -11.0% last week, a steep decline from -3.4% the week prior. Year-over-year flea/tick protection dispensed also fell, toppling from 2.6% the previous week to -7.9% last week. While revenue from services held steady at 6.6%, revenue from products fell from 2.4% to -1.2%.
| +6.2% Revenue YoY (Last 12 Months) |
-1.6% Visits YoY (Last 12 Months) |
The rolling 14-day trendline shows year-over-year revenue and visits dropping slightly after improving throughout much of November.
| 5,058 Practices |
2.1M Revenue per Practice (Last 12 Months) |
10.5K Visits per Practice (Last 12 Months) |
While North Carolina experienced the highest year-over-year revenue growth last week at 11.0%, West Virginia was a close second at 10.1%. And, West Virginia enjoyed higher year-over-year visits growth than any other state last week, coming in at 2.7%.
For daily state-specific stats, see the Premium Veterinary Industry Tracker at VeterinaryAnalytics.com.
*Numbers are subject to change based on data availability and PIMS adjustments.
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