Veterinary Industry Summary: September 8–14, 2024
Stats from the Veterinary Industry Tracker powered by Vetsource and AVMA
September 8–14, 2024
It’s no secret that the cost of veterinary care has become a focus for many media outlets and legislators in recent months. Now, a new bipartisan bill introduced by Reps. Deborah Ross (D-NC) and Claudia Tenney (R-NY) aims to help pet owners meet the costs associated with pet healthcare.
The People and Animals Well-Being (PAW) Act would increase animal health eligibility in Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs).
According to Reps. Ross and Tenney, the PAW Act would allow pet owners to have up to $1,000 in veterinary care expenses or to purchase a pet health insurance plan using their HSAs or FSAs. The PAW Act would also allow for limitless veterinary care expenses for service animals.
“Our pets and service animals are cherished members of our families, and it’s essential that owners have the ability to pay for quality care,” Rep. Tenney said in a recent press release. “The PAW Act offers greater flexibility to pet owners by allowing them to use HSAs and FSAs for pet care expenses. This legislation will help veterans and all pet owners afford veterinary care for their beloved pets and service animals.”
Check out the Veterinary Industry Tracker for daily stats.
| +1.5% Revenue YoY (Last Week) |
-3.4% Visits YoY (Last Week) |
At 1.5% last week, year-over-year veterinary industry revenue dropped from the previous week’s 2.4%. Visits also declined, falling from -1.8% the week prior to -3.4% last week.
 -7.7%Heartworm YoY |
-6.4% Flea/Tick YoY |
 +2.9%Services YoY |
-2.7% Products YoY |
Year-over-year parasiticide protection declined last week compared to the week prior. Heartworm protection fell from -4.9% to -7.7%, and flea/tick protection dropped from -4.1% to -6.4%. While year-over-year service revenue was still in positive territory, it fell to 2.9% from the previous week’s 3.8%. Product revenue plunged to -2.7% from -1.4% the week prior.
| +3.3% Revenue YoY (Last 12 Months) |
-2.6% Visits YoY (Last 12 Months) |
The rolling 14-day trendline showed revenue and visits leveling off since late August.
| 5,515 Practices |
2.2M Revenue per Practice (Last 12 Months) |
10.5K Visits per Practice (Last 12 Months) |
Last week, Connecticut and Colorado enjoyed the most growth in year-over-year revenue at 6.7% and 6.5% respectively. Minnesota was the only state to experience positive year-over-year growth in visits at 0.1%, with Connecticut coming in second place at -0.5%.
*Numbers are subject to change based on data availability and PIMS adjustments.
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