Monitoring the scope, velocity and importance of developments in the U.S. veterinary care sector, VetWatch™ helps veterinary hospitals and the animal health industry stay on top of the ever-changing landscape affected by current events through multiple sources of real-time data.
Source: VetWatch, week ending July 3, 2021. Link.
For the week ending July 3, aggregate YTD practice revenues continued strong, but further plateaued and softened moving from +12.6% to +12.3% net growth versus YTD 2020 for the ~4,000 reporting practices as we move further into the stronger revenue comparison last year.
The growth in unique patients was lower at +5.1% as was the number of unique clients at +5.6%. Total invoices continues positive at +5.1% YTD growth vs 2020 results.
Note the USVA pet owner behavior research pages 7 and 8.
INSIGHTS: It is likely that as pandemic restrictions have eased, pet owner travel and activities are part of the softening trend. However, the positive invoice growth is a good signal.
Call to action: Beyond the collective sighs of relief from pandemic restraints, remaining focused on client retention and engagement supports ongoing year over year growth. Consider reevaluating communications and outreach. Telehealth, triage services, vendor-supported tools and contracted social media platforms allow for comprehensive use of staff which contributes to sustained growth.
Also see: Sam’s Club unveils pilot; shoppers scan purchases, items shipped home, CNBC, July 13, 2021. Link. An example of how the warehouse club is using digital approaches to stand out from competitors.