For clinics, a few good financial signs
Revenue and purchasing are in positive territory, a pair of industry trackers show.
Many U.S. veterinary practices are seeing increased revenue amid the COVID-19 pandemic, according to two industry observers.
The data analytics company Animalytix noted in its weekly VetWatch report that year to date, 40 states “are now net positive in terms of total revenues” compared with the same period in 2019. States “struggling to meet the 2019 threshold performance levels” are California, Nebraska, New York, New Jersey, Massachusetts, Michigan, Ohio, Pennsylvania, Maine and Rhode Island.
For the week of July 5, clinic and shelter purchases of flea, tick and heartworm preventives nationwide rose by 4.4% year over year.
“Year to date, canine and feline core vaccines, supplies and surgical suite purchases … remain in positive territory versus 2019 with growth ranging from 0.6% to 5.9%,” the report noted.
The data is presented at www.VetWatch.com. The North American Veterinary Community, publisher of Today’s Veterinary Business, is a VetWatch sponsor.
Meanwhile, another analytics company, VetSuccess, reported that smaller practices, or those that take in less than $1.5 million a year, generally outperformed larger practices during the week of July 6. While daily revenue rose by 9% overall compared with the same period in 2019, the split was 13% at smaller practices and 6% at larger practices.
The best-performing states included Louisiana and Arizona, which saw revenue increases of 19% and 18%, respectively, and Missouri, Washington, Alabama and North Carolina, all of which jumped by 11%.
One down sign was in the number of daily average invoices per practice. The year-over-year count at smaller clinics rose by 3.5% and fell by 2% at large practices, according to VetSuccess.
The company’s Veterinary Industry Impact Tracker is available at bit.ly/2OyEJNw.
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