This week’s news items included a white paper from data analytics company Vetsource that indicates that vet visits are down, and revenue growth at clinics is slowing. The profession benefitted from a surge in demand for veterinary care during the pandemic, as well as post-pandemic price increases that were above inflation rates. It appears that the near future may not be quite as rosy for veterinary practices.
Pet owners are no doubt feeling squeezed between higher vet costs and current economic headwinds, and this is unlikely to improve in the short term. A “state of the profession” address by the AVMA’s chief economist at the recent Western Veterinary Conference reinforced this assertion, citing economic indicators that point to a potential recession.
Decisions on wellness care for pets have been particularly impacted: the Vetsource data showed that wellness visits declined in 2024 (non-wellness, or sick, visits were stable). Additionally, parasiticide purchases were down, both in number of patients purchasing and in months of protection dispensed. Some of the decline may be due to pet owners switching to purchasing products from retail channels, but it may also reflect cost-cutting choices.
The veterinary profession will need to look beyond price and fee increases to maintain revenue growth. Industry partners, it’s time to step up and support veterinary practices in their efforts to drive pet owners to visit their veterinarian, for both wellness care and product purchases.
Lynn Fondon
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