The Economics of Small Animal Veterinary Practice.

Abstract

Recent economic cycles and unique factors like the COVID-19 pandemic have all affected small animal veterinary practice, changing both demand and supply-side factors. One-time events exacerbated cyclical macroeconomic factors, increasing the highs and worsening the lows. Behind the perceived labor shortage, the mental health concerns, and the challenges of staff turnover in the profession's daily work to meet client expectations and provide the best possible medical care lurks a productivity problem. The good news is that veterinary practices can take steps to improve productivity and resilience in the face of these challenging trends.