Veterinary Industry Weekly Summary

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Monday May 11th – Saturday May 16th

The majority of the country again saw year-over-year average revenue growth this past week, closely resembling pre-COVID-19 numbers.

Only 6 out of 31 states with available data had a decrease in YoY revenue, specifically Pennsylvania, Maine, Connecticut, Maryland, New York, and Michigan; the largest drop in revenue being 9% for Michigan. The state with the highest revenue growth was Missouri at 22%. Pharmacy and professional services revenue growth continued and over-the-counter and diet revenue was up for the first time since March.

 

Revenue:          

  • Year-over-year daily average revenue per practice was up 11% nationwide, compared to being up 9% the previous week.
  • Larger practices were up 6% compared to smaller practices which were up 18%. 
  • Not including home-delivery data, pharmacy revenue was up 13.5%, professional services revenue was up 10.5%, and, for the first time since March, over-the-counter and diet revenue was up 1%.

 

Invoices:           

  • Year-over-year daily average invoices per practice were again flat nationwide, the same as the previous week. 
  • Larger practices were down 1%, compared to being down 2% the previous week.
  • Smaller practices were again up 6%, the same as the previous week. 
  • The top three states with the most significant decrease in invoices YoY were New York, down 12%; Maryland, down 12%; and Massachusetts, down 11%. Maine and Michigan were also down 11%.

For additional data, access the interactive dashboard from VetSuccess: Industry Impact Tracker

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*We classify practices as larger or smaller based on a threshold of $1.5 million in annual gross revenue.
**Data is subject to change based on availability.