Economy Tracker Results & Reminder
Author: Dr. Karen Felsted
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Source: NCVEI Update
Date: 9/29/2009
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Summary:
What is the current effect of the economy on veterinary medicine? During the first quarter of 2009, the “average” practice showed a slight increase in revenue (1-2%) compared to the same period in 2008. Most of the increase was driven by an increase in the Average Transaction Charge. Transactions in most practices were still down compared to the first quarter, 2008. Revenue growth for the second quarter of 2009 appears to be fairly flat, though transactions haven’t declined quite as much. This improvement in transaction numbers is offset by a lower increase in the ATC. The difficulty with averages is they don’t tell the story about what’s going on in every clinic. It appears that about 1/3 of the practices in the US are doing worse than these numbers indicate, about 1/3 are in this average range and 1/3 are doing better. The geographical location of your practice definitely has an impact on how you’re doing but practices in who are focusing on client service, better practice management and outreach activities are less impacted than those who are not doing these things.
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