Veterinary Industry Summary: Oct 2-8, 2022

October 11, 2022|
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Stats from the Veterinary Industry Tracker powered by Vetsource and the AVMA

 

Oct 2-8, 2022

Fall is in full force as we entered the first full week of October. As the new season rolled in, U.S. veterinary practices saw that year-over-year revenue growth was up 4.7% while growth in visits slowed to -2.6%. Revenue from professional services increased to 6.2% year-over-year, we also saw months of heartworm and flea/tick protection dispensed climb this past week. Product revenue was also up this past week at 0.9% growth. 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.

 

+4.7%
Revenue YoY (Last Week)		 -2.6%
Visits YoY (Last Week)

 

Revenue growth was at 4.7% this past week while visits continue to lag behind and were down -2.6% year-over-year this past week. Both metrics are up compared to what we saw the week prior.

 

LAST WEEK
Months of Parasiticide Protection Dispensed
-2.2%
Heartworm YoY		 -2.8%
Flea/Tick YoY
Service vs Product Revenue Breakdown
+6.2%
Services YoY		 +0.9%
Products YoY

 

Heartworm and flea/tick protection dispensed and revenue from products have gone back up this past week from the week prior, while revenue from services was up 6.2%. Compared to the week prior, all metrics are starting to increase.

 

LAST 12 MONTHS
Growth in Revenue and Visits

A line graph showing revenue and visits per practice, for a 14 day rolling period.

 

+6.0%
Revenue YoY (Last 12 Months)		 -2.1%
Visits YoY (Last 12 Months)

 

The rolling 14-day trendline for revenue and visits growth year-over-year was noticeably higher in 2021 before declining in January 2022. This spiked significantly in February and slightly in July but appears to be settling in overall at a lower rate than what we saw in 2021. We saw it climb in September and now it appears to be on the decline.

 

LAST 12 MONTHS
Revenue Growth by State

A U.S. map, using color shades to show revenue growth by state.

 

Patient Demographics
4,623
Practices		 1.9M
Revenue per Practice
(Last 12 Months)		 10.7K
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 11.3% growth. For daily state-specific stats, please see the Premium Veterinary Industry Tracker.

 

*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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