COVID-19: The Impact
Health officials across the U.S. and all over the world are working hard to combat COVID-19. For veterinarians, this work includes providing care for pets: horses, livestock, laboratory animals, aquatic, exotic, and wild animals – all work that is essential and helps protect both animal and human health. Practices have had to put plans in place to protect their team, minimize exposure for staff and pet parents. They have had to scrounge to find personal protective equipment that even human medical professionals have struggled to find. But recent clinic data has shown some positive indications that leave some cautiously optimistic about the state of the industry.
For the most relevant and up-to-date information and resources visit AVMA’s website and your state’s Veterinary Medical Association website.
What Clinic Data Is Telling Us Today
The last 7-day rolling average of veterinary practice revenue and invoices seems to indicate that veterinary practices may be moving towards recovery (as of Friday 4/17/2020).
- The year-over-year loss of revenue and invoices ending April 19 was less profound than in previous weeks, continuing to show what appears to be a leveling off at the -10% to -15% range.
- Smaller hospitals (those with less than $1.5MM in annual revenue) continue to outperform larger practices. Also of interest, practices in Texas, Louisiana, Alabama, and Arizona all experienced, on average, year-over-year growth."
- The impact to revenue continues to be softer than the invoice impact – perhaps reflecting the loss of higher frequency, lower dollar, non-essential visits.
- At the current rate, if the trend continues, practices may start to see positive revenue growth by early May.
- A lot of caution is still warranted, as much uncertainty remains regarding the impact of the pandemic and our ability to control it’s spread.
The details in this section are based on information provided by VetSuccess Practice Management Software.
Itchy Pets, Working From Home & Pet Parent Expectations
- FREQUENCY/SEVERITY: Pet parents are spending more time at home with their pets. They are also realizing how much their pets are truly suffering with allergies. Click below to review common symptoms.
- COST: With finances on “shaky ground” pet parents are revisiting allergy testing and treatment with their veterinarians due to its cost and efficacy over the life of the animal versus comfort therapies.
- ALTERNATIVES: Comfort therapies are great tools short-term. Allergy testing and treatment gives patients the opportunity for higher long-term quality of life than comfort therapy alone. On comfort therapy, the disease of allergy will continue to progress, even though there may not be an increase in symptoms. Use our test and treat package to help your clients successfully transition from comfort therapies to allergy treatment, we can show you how with our Resource Guide below.