Veterinary Industry Summary: Oct 9-15, 2022

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

 

Oct 9-15, 2022

October is here and the temperatures are dropping across the country. As the fall season rolled in, U.S. veterinary practices saw that year-over-year revenue growth was up 3.4% while growth in visits dropped to -4.1%. Revenue from professional services was up 5.0% year-over-year, we also saw months of heartworm and flea/tick protection dispensed drop this past week. 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)
-4.1%
Visits YoY (Last Week)

 

Revenue growth was up again last week at 3.4% which is slightly lower than the week before and visits dropped further to -4.1% year-over-year this past week. Both metrics are down from the week prior.

 


LAST WEEK
Months of Parasiticide Protection Dispensed
-3.4%
Heartworm YoY
-6.0%
Flea/Tick YoY
Service vs Product Revenue Breakdown
+5.0%
Services YoY
-1.0%
Products YoY

 

Heartworm and flea/tick protection dispensed and revenue from products have declined this past week from the week prior, we also saw a decline in revenue from services and products.

 


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

 

Patient Demographics
4,619
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.


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