Veterinary Industry Summary: Sept 18-24, 2022

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


 

Sept 18-24, 2022

As the east coast prepared for Hurricane Ian, U.S. veterinary practice year-over-year revenue growth slowed to 5.5% last week. Visits and product revenue growth continues to be lackluster. Year-over-year growth was at -2.3% for visits. Revenue from professional services was at 7.0% year-over-year, while months of heartworm and flea/tick protection dispensed were down again this past week. Product revenue was up slightly at 1.4% growth, close to what we saw the week prior. 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.

 

+5.5%
Revenue YoY (Last Week)
-2.3%
Visits YoY (Last Week)

 

Revenue growth was at 5.5% this past week while visits continue to lag behind and were down -2.3% year-over-year this past week. Both metrics are down slightly compared to what we saw the week prior.

 


LAST WEEK
Months of Parasiticide Protection Dispensed
-2.9%
Heartworm YoY
-1.7%
Flea/Tick YoY
Service vs Product Revenue Breakdown
+7.0%
Services YoY
+1.4%
Products YoY

 

Heartworm and flea/tick protection dispensed were down again this past week, while revenue from services was up 7% and revenue from products was up 1.4%. Compared to the week prior, heartworm protection dispensed and product and service revenue were up, while flea/tick protection dispensed was down slightly.

 


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

 

+6.2%
Revenue YoY (Last 12 Months)
-1.8%
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’re now seeing it climb in September.

 


LAST 12 MONTHS
Revenue Growth by State

 

Patient Demographics
4,637
Practices
1.9M
Revenue per Practice
(Last 12 Months)
10.8K
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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