The 2023 Veterinary Business Insights Report

The 2023 Veterinary Business Insights Report highlights current challenges, trends, and strategies for small veterinary practices, focusing on patient expectations, staffing issues, technology investments, and adapting to economic pressures.

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We asked veterinarians what challenges they are having MORE trouble with over the past 12 months. There was some nuance in the response between private and corporate practices:

Corporate Practices

Finding staff

Staff burnout

Pet owner financial constraints

Private Practices

Finding staff

Pet owner financial constraints

High appointment demand

VetMedux • VetMedux™, powered by Instinct

Despite 63% of pet parents wanting to know about payment options early, few specialty clinics share this information before the client arrives

Synchrony Financial • New Synchrony Research Finds Pet Parents Are Equally as Concerned About the Cost of Specialty Veterinary Care as their Pet's Potential Outcome

72% of pet parents are very/extremely concerned about the financial implications of the cost of their pet's specialty care as they are the potential outcome.

Half would be stressed by a specialty care bill of up to $1,000, with 81% being stressed if the bill increased towards $2,500.

Only 25% of specialists believe pet parents have realistic

Synchrony Financial • New Synchrony Research Finds Pet Parents Are Equally as Concerned About the Cost of Specialty Veterinary Care as their Pet's Potential Outcome