Veterinary Industry Summary: September 15–21, 2024
Stats from the Veterinary Industry Tracker powered by Vetsource and AVMA
September 15–21, 2024
You’ve likely heard of Medicaid, but have you heard of Peticaid? According to Jon Gellar, DVM, DABVP emeritus, MPH, the originator behind the Peticaid idea, this initiative would increase access to veterinary care like never before.
Peticaid, a proposed Medicaid supplement, would allow any household currently on Medicaid to add up to two pets to their coverage. Each pet would qualify for up to $400 annually in veterinary care.
How would Peticaid work? A network of Peticaid veterinary hospitals would be established, and Peticaid recipients could choose a hospital from within that network. Hospitals would charge their typical fees. The pet owner would pay a 20% copay at the time of service, and either the hospital would bill Peticaid for the balance or the pet owner would present their Peticaid voucher with the remaining balance being tracked.
According to Dr. Gellar, approximately 26 million pets could receive Peticaid. The cost would be about $8 billion annually, 1% of the U.S. annual Medicaid budget. However, further research is needed, and a legislative bill is being considered in Colorado to determine the logistics of such a program, including the number of pets involved, projected costs and funding, federal collaboration, and program administration.
“Peticaid is truly a win-win-win-win initiative,” Dr. Gellar wrote in a recent DVM360 article. “Low-income pet owners…would be able to obtain preventive care and sterilization services for their pets…Pets would not suffer from preventable diseases and, very significantly, revenue to participating veterinary hospitals for medical care would increase by 20% to 25%.”
Check out the Veterinary Industry Tracker for daily stats.
| +3.5% Revenue YoY (Last Week) |
-1.7% Visits YoY (Last Week) |
Veterinary industry year-over-year revenue was up 3.5% last week, an improvement over the previous week’s 1.5%. Visits also improved compared to the week prior but remained in negative territory at -1.7%.
 -5.4%Heartworm YoY |
-4.1% Flea/Tick YoY |
 +4.9%Services YoY |
-0.9% Products YoY |
While moving in the right direction compared to the previous week, year-over-year heartworm and flea/tick protection remained negative last week at -5.4% and -4.1% respectively, changes from -7.7% and -6.4%. Year-over-year service revenue jumped from 2.9% to 4.9% last week. And, while product revenue was flat at -0.9%, it improved from the previous week’s -2.7%.
| +3.3% Revenue YoY (Last 12 Months) |
-2.6% Visits YoY (Last 12 Months) |
The rolling 14-day trendline showed revenue and visits holding fairly steady over the past month.
| 5,536 Practices |
2.2M Revenue per Practice (Last 12 Months) |
10.5K Visits per Practice (Last 12 Months) |
Colorado and Connecticut experienced the highest growth in year-over-year revenue last week at 6.4% each. Minnesota was once again the only state to see positive year-over-year visits growth at 0.1%, and Illinois trailed closely behind at -0.6%.
*Numbers are subject to change based on data availability and PIMS adjustments.
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