Calling all practice owners! Please be on the lookout for an important survey request you might receive next week to participate in the AVMA’s 2017 Practice Ownership Survey.
This survey tracks the changing structure of the veterinary practice setting, including the number, size and types of businesses that comprise the profession, and it provides critical data to help the AVMA determine the best conditions for maximizing profitability in veterinary practices.
With big-box buyouts of veterinary practices on the rise, it is critical to understand how the size of your practice, the ratio of technicians to veterinarians, and different business models – such as partnerships, sole owners and shareholders – affect your bottom line. The Practice Ownership Survey helps the AVMA identify and measure these factors in order to provide you with information on practice performance that will empower you to make better business decisions. The AVMA also uses data gathered from the Practice Ownership Survey to advise governmental agencies such as the Federal Trade Commission how best to optimize market outcomes for veterinary businesses.
If you receive an email asking you to take part in the Practice Ownership Survey, please participate. Your input is vital to our ability to inform the profession about factors associated with high performance in practices. We limit the number of members we ask to participate in each survey, so your responses represent many of your peers as well as yourself.
Results from the survey will be available in the 2018 edition of the AVMA Report on the Market for Veterinary Services, which is part of the AVMA Veterinary Economic Report Subscription series.
AVMA 2017 Economic Summit
If you are looking to gain a deeper understanding of veterinary economics, mark your calendar for Oct. 23-24, when the AVMA’s 2017 Economic Summit will take place. The summit brings together practitioners, industry leaders, economics experts, educators and others for an in-depth look at the issues that impact the financial health of veterinarians and the veterinary markets. View the summit agenda, and plan to attend.