Business rebounds at many N.Y. hospitals
Nearly a quarter of surveyed clinics are performing better than they did in 2019.
A survey conducted by the New York State Veterinary Medical Society has found what the organization called “significant improvement in the volume of business” since the start of the COVID-19 pandemic.
In early April, 60% of responding practices reported year-over-year revenue declines of at least 25%. The latest figures, released June 4, showed that business was off by a quarter or more at only 17% of hospitals. Twenty-three percent of clinics in the new survey were enjoying increased business and 27% saw no change compared with the same period in 2019.
Among other June survey results:
- 31% of New York State hospitals were furloughing staff, down from 34% in April.
- Hospitals that reduced staff hours fell from 90% in April to 65% in June.
- 62% of clinics have received federal funding.
- 68% of hospitals were open for both wellness care and elective procedures.
Nationwide, year-over-year revenue was down 2% from March 1 through May 31 at nearly 2,800 hospitals tracked by VetSuccess. The number of daily invoices declined by 7.2%.
The latest report from VetWatch, an industry tracker from Vetalytix, revealed that about 80% of practices have maintained curbside or drop-off services.
“Less than 6% of respondents say that they are allowing normal client access into their physical plant while 17.5% report reducing the number of clients/pets within the building at one time,” according to a weekly summary.
Veterinary practices are invited to participate in a weekly survey and view results at www.VetWatch.com.
The North American Veterinary Community, publisher of Today’s Veterinary Business, is a VetWatch partner.
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