Veterinary Industry Summary: September 17–23, 2023
Stats from the Veterinary Industry Tracker powered by Vetsource and AVMA
September 17–23, 2023
While the debate about an overall staffing shortage in veterinary medicine continues, the U.S. Department of Agriculture (USDA), has reported veterinary shortages in a record-high 237 rural U.S. areas this year. A proposed law reintroduced into Congress aims to attract more veterinarians into these rural areas.
The bipartisan legislation — now known as the Rural Veterinary Workforce Act — would expand the reach of the Veterinary Medicine Loan Repayment Program (VMLRP). The VMLRP repays up to $75,000 of educational debt for food animal and public health veterinarians in exchange for their services in high-need communities.
The USDA oversees the VMLRP and is currently paying out 39% of the program’s annual funding in federal taxes, a key difference between the VMLRP and similar programs for human healthcare providers. The Rural Veterinary Workforce Act would end the federal tax on VMLRP awards, making the program’s full funding available so more veterinarians can take advantage of the program and be placed in rural shortage areas.
Check out the Veterinary Industry Tracker for daily stats.
Revenue YoY (Last Week)
Visits YoY (Last Week)
While year-over-year visits held steady last week, year-over-year revenue fell to 2.4% from 2.7% the previous week.
Months of parasiticide protection dispensed fell slightly last week. Year-over-year heartworm fell from -8.3% to -8.5%, and flea/tick fell from -6.6% the week prior to -7.0% last week. Revenue from services and products also dropped from the previous week, although year-over-year services revenue was still up 3.9%.
Revenue YoY (Last 12 Months)
Visits YoY (Last 12 Months)
The rolling 14-day trendline shows year-over-year revenue and visits declining slightly after a small rebound in mid-September.
Revenue per Practice
(Last 12 Months)
Visits per Practice
(Last 12 Months)
Tennessee continued to experience the highest average growth in visits at 2.8% last week, which was up from 2.5% the week prior. Massachusetts still had the highest average growth in year-over-year revenue for the past 12 months at 11.5%, with North Carolina trailing closely behind at 11.3%.
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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