The committee is charged to advise the Board of Directors on the broad scope of economic issues affecting veterinary medicine and make recommendations to the Board of Directors to develop strategies for addressing economic issues. Specifically:
- Review economics information and keep abreast of economic developments in the veterinary profession, and the economy in general, including small business matters affecting veterinary medicine.
- Recommend studies and approaches to develop data and information that are valuable to the development of effective strategies to advance AVMA strategic economic goals, including strengthening veterinary practice profitability, financial wellbeing, and enhancing the veterinary medical workforce.
- Recommend summit meetings and conferences among key economic influencers and stakeholders, and provide assistance in their implementation, with the purpose to elevate and expand the profession’s ability to identify problems and opportunities and develop strategies involving other organizations and individuals.
- Recommend actions to develop and deliver information to the veterinary profession that will improve the profession’s business knowledge, acumen, and financial success.
- Respond to staff requests for advice on veterinary economics and small business issues.
Membership and method of appointment
The membership will be composed of nine voting members who are knowledgeable about economic issues, small business, and the veterinary medical profession, and who are forward thinkers, able to participate in critical strategic discussions, ask elucidating questions, and challenge assumptions. Committee members may represent diverse experiences and perspectives both in and outside the AVMA, and will include diversity among the appointees by gender, generation and ethnicity.
Nominations will be solicited from the general membership and other stakeholders, and committee members will be appointed by the Board of Directors.
The committee will elect a chair and vice chair from among the committee members for successive one-year terms. The vice chair will serve as the chair in the absence of the elected chair.
In addition to the nine voting members, there will be one nonvoting representative, the veterinary economics Officer on the SAVMA HOD Executive Board or veterinary economics officer-elect as the alternate representative. The representative’s term will be limited by the term of service on the SAVMA HOD Executive Board.
The committee is authorized to hold one in-person meetings at AVMA headquarters per calendar year, and conference calls as needed.
Travel expenses are authorized in accordance with AVMA travel policy.
The committee will submit minutes of its meetings.
The life expectancy of the committee will be ongoing with review in compliance with AVMA governance policies.