Its been a very busy 2 years in the veterinary industry, maybe too busy. We do know however that nothing lasts forever. The COVID boom in the veterinary industry has brought with it increased profitability, but it has also brought increased stress levels and staff shortages. It certainly has not been ‘good times’ all around.
Being a Dachshund, I am a breed that likes to dig and burrow with dogged determination. So I have been using these skills to dig and burrow deeply in the vast amounts of data we collect from veterinary practices. What has my digging discovered?
We may have given you a heads up about this last month where we said growth in the industry had now levelled off for the last few months. However subsequent to the last newsletter we have a further month of data for April 2022.
April has shown a marked negative in patient number and invoice number. This is of course brand new information and one month does not tell us a lot considering that there was a number of public holidays and a looming election. Elections bizarrely enough seem to always put the brakes on even veterinary spending which makes no sense because Dachshunds and the rest of our genus don’t have the right to vote.
However, I have this feeling in my canine gut that tells me this trend may persist to subsequent months.
Here are the April 2022 figures compared to April 2021: