Results of a survey to determine demographic and business management factors associated with size and growth rate of rural mixed-animal veterinary practices.

Abstract

OBJECTIVE: To determine potential associations between demographic and business management factors and practice size and growth rate in rural mixed-animal veterinary practices. DESIGN: Cross-sectional survey. PARTICIPANTS: 54 mixed-animal practitioners. PROCEDURES: A cross-sectional survey (96 questions) was electronically disseminated. Responses were collected, and outcomes (number of veterinarians [NV], growth in number of veterinarians [NVG], gross practice income [GPI], growth in gross practice income [GPIG], gross practice income per veterinarian [GPIV], and growth in gross practice income per veterinarian [GPIVG]) were calculated. Bivariate analyses were performed and multivariable models created to determine associations between survey responses and outcomes of interest. RESULTS: Survey respondents were from mixed-animal practices, and most (46/54 [85.2%]) practiced in small communities (< 25,000 people). Study practices had a median &#xb1; SD NV of 2.3 &#xb1; 1.9 veterinarians, median GPI of $704,547 &#xb1; 754,839, and median GPIV of $282,065 &#xb1; 182,344. Multivariable regression analysis revealed several factors related to practice size, including the number of associate veterinarians and veterinary technicians in the practice, service fee structure, and employment of a business manager. Typically, practices had positive mean growth in NVG (4.4%), GPIG (8.5%), and GPIVG (8.1%), but growth rate was highly variable among practices. Factors associated with growth rate included main species interest, frequency for adjusting prices, use of a marketing plan, service fee structure, and sending a client newsletter. CONCLUSIONS AND CLINICAL RELEVANCE: Mixed-animal practices had a large range in size and growth rate. Economic indices were impacted by common business management practices.