Behind the Numbers: What Data Reveals About Veterinary Practice Trends

Let's take a look at current data and trends in our veterinary practices. We're excited to have Sheri Gilmartin here today. She combines three decades of industry experience with a passion for data-driven insights. This conversation cuts through the noise and speaks directly to the challenges veterinary professionals are facing right now.

Sheri started out as a veterinary technician and eventually became the VP of Sales for Enterprise Solutions at Vetsource. Her deep understanding of the profession and love for meaningful innovation gives her a unique lens on the current state of veterinary care. We dive into what the numbers are really telling us.

Realities include fewer patient visits and shifting client behavior. There's also subtle changes like an uptick in feline care. We break down what these trends mean for everyday practice. We'll discuss how online pharmacies are changing the game and where clinics are losing revenue. We talk about the importance of forward booking and client communication. The goal is to help practices stay competitive without losing their personal touch.

This is a real-world look at the veterinary business and where data meets intuition, because the right decisions today could make all the difference tomorrow. Sheri's insights are a thoughtful nudge toward growth, adaptation, and client loyalty. Whether you're running the numbers or managing the front desk, this episode is a reminder that staying relevant requires both grit and a willingness to evolve.

Show Notes:

[01:20] Sheri always knew she wanted to be a part of animal health.

[03:08] Sheri talks about how she began working in a veterinary practice during high school to where she is today at Vetsource, 30 years later.

[04:01] Vetsource provides an online pharmacy and e-commerce for the veterinary industry. They've added additional tools to help veterinary clients be successful.

[05:01] They've also leveraged analytics and communication tools to help practices leverage their software systems.

[06:08] Today, we're going to dive into the data and help practices stay relevant.

[07:03] They have been focusing on data normalization since 2013. They now have a four-tier revenue category system that they can put revenue codes into.

[07:51] They also started leveraging AI to auto normalize data.

[08:45] They also have to deal with multiple practice management software systems.

[09:44] There are people advocating for consistent codes.

[11:06] Revenue per patient is also an important metric.

[12:03] There has been a consistent decline in visits year-over-year since 2022.

[12:42] Revenue is holding steady in spite of the decline in visits. A lot of this is driven by price increases.

[13:48] Feline visits are up 1.1%.

[15:13] Wellness visits seem to be down. Sick visits are flat or up. Surgery visits also decline.

[16:38] There's also a decline in product only visits.

[17:23] Pet owners are using things like online pharmacies more often. Inflation and lack of disposable income is also an issue.

[18:35] Most people are paying with credit cards.

[19:06] Pet owners have to balance surgeries like dental work and spay and neuters with when they can do it. There is a decline in dentistry.

[21:27] The cost of care is critical. It can also be challenging for pet owners.

[23:41] Data for the sake of data doesn't help an action plan is necessary.

[24:03] Every practice should have a clear goal. Maintaining clients and client loyalty should be the goal.

[26:58] Online pharmacies did increase at the start of COVID. There has been a steady increase of customers purchasing Veterinary supplies online.

[31:31] How veterinary practices can be involved when clients choose to go to online retailers.

[32:42] Practices have the advantage with pet owners, they just need to think more competitively and have competitive pricing.

[35:07] Being proactive about working with pet owners instead of them going to some other practice.

[36:12] Client satisfaction could be part of the equation.

[37:08] The veterinary industry is resilient, and there are a lot of positive changes happening.

Links and Resources:

Sheri Gilmartin - Vetsource

Sheri Gilmartin - LinkedIn

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