Veterinary Industry Trends
The veterinary industry is changing rapidly. Client expectations are shifting, demand is growing, and new technology is shaping how practices operate. As a veterinary practice owner, you also face new pressures: staffing to keep up with demand, pricing your services appropriately, and finding the time and capital to adopt new technology.
Forward-thinking veterinary practices must adapt to trends with modern tools and efficient workflows, and Weave’s veterinary software empowers teams to thrive in this new environment. Discover the top trends shaping the veterinary industry and how Weave can help you adapt.
Pet humanization is reshaping demand for veterinary services
Today, more than ever, pet owners are treating their pets like members of the family. This means they expect their veterinary care to be on par with the level of care delivered at human medical practices.
Pet owners are willing to spend more money on premium care for their animals. They are investing in wellness plans and taking a more proactive approach to chronic disease management.
Your practice needs scalable systems to maintain a high-touch experience for patients. You also need to begin offering higher-level services to compete with other veterinary clinics in your area. Specializing in areas like oncology, cardiology, or dermatology can give you a competitive edge and better meet the growing expectations of today’s pet owners.
Financial growth and practice benchmarking are common
The veterinary industry continues to see high demand across the board, and many practices have experienced healthy revenue in turn. The rising demand for veterinary medicine has led some practices to increase prices, but cost-conscious clients are not always receptive to this strategy.
Using performance benchmarks and analytics tools has become common for vet clinics to track revenue, client acquisition, retention, and other key performance metrics. Monitoring performance in this way can help your practice make more informed decisions about pricing and operations.
For example, if your veterinary practice has experienced steady growth over the past year, you might consider hiring new veterinary technicians or laboratory animal caretakers to better meet patient demand. This can allow you to expand your animal care services and maintain sustainable growth.
Industry consolidation is accelerating across veterinary medicine
Shifts in the veterinary industry have led more corporate groups and private equity firms to buy up practices across the country. These groups make competitive offers that many veterinary practices cannot resist. They often swoop in when practice owners are nearing retirement and turn independent operations into franchises.
Your practice has a choice to make: stand strong as an independent veterinary practice or become part of a corporate group and enjoy the flexibility benefits that come with it. Independent practices must stay competitive with these franchises by using efficient workflows and providing consistent client experiences.
Weave helps smaller practices scale their communication and streamline operations without needing a corporate budget. Weave’s user-friendly features help modernize your practice’s workflow and keep you competitive with corporate clinics.
Clients are more informed and cost-sensitive
Despite the growing demand for veterinary services, clients are still being selective about the practices and veterinary professionals they choose. This ties back to the pet humanization trend; pet owners want the best care for their companion animals and take the time to select the practices that meet their high expectations. Economic downturns have also led many pet owners to be more cost-sensitive and shop around for the best prices.
Informed pet owners look for practices that provide convenient scheduling, transparent pricing, and proactive communication. Integrating digital tools, such as reminders, texting, and online scheduling, into your practice can help you build trust and promote patient retention.
You can appeal to cost-conscious clients by offering payment plans or other financial solutions. These strategies make your veterinary services more accessible to clients with low budgets without compromising your pricing structure.
Because more animal owners are purchasing pet insurance, adapting your workflow to include insurance claims processing is important. Creating a seamless insurance process can lead more clients to choose your clinical practice.
Technology is transforming veterinary care
Advancements in technology have also shaped the veterinary industry over the past decade. Today, wearable devices, telemedicine services, and home diagnostics are entering everyday care.
Animal owners can use wearables to monitor their pets’ health data and know when to take them in for a check-up. They can send this data directly to their veterinary professionals for more informed and consistent care. This tech is especially helpful for patients with chronic health conditions, giving their owners peace of mind about their conditions on a day-to-day basis.
More veterinary practices have begun offering telemedicine and home diagnostic services to expand their appointments and streamline consultations. Your practice can stay competitive by offering these services as well.
The rise in technology in everyday veterinary care has also led clients to expect seamless digital interactions with their animal care workers. They want to book their appointments online and pay their bills digitally. More practices have adopted platforms like Weave to modernize their front offices and meet client expectations.
Staffing and efficiency remain top concerns for veterinary practices
The rapid growth of many practices in the veterinary field, combined with the rising demand, has led to widespread staffing struggles. Virtually all positions in vet clinics are understaffed, including veterinary technicians, veterinary surgeons, and more.
Animal health clinics struggle with burnout, high turnover rates, and understaffing, all of which directly impact patient care. These challenges lead more veterinary professionals to quit, further affecting staffing. And the problem may only worsen, as the Bureau of Labor Statistics (BLS) projects that 8,300 new veterinarian jobs will open by 2034.
Communicating directly with veterinary schools can help you connect with veterinary graduates each year to help fill staffing gaps. You can also refer to resources like the American Veterinary Medical Association for staffing guidance.
If your veterinary hospital is understaffed, look into automating repetitive tasks like sending appointment reminders and uploading intake forms. Weave helps clinics do more with less, improving team morale and client satisfaction despite staffing challenges.
Weave helps you adapt to veterinary industry trends
New trends and changes in the veterinary industry keep animal care workers like you on their toes. Understanding how client expectations have shifted and new technology has streamlined certain tasks helps you stay competitive with other clinics and keep clients engaged.
At the end of the day, your job is to deliver the best veterinary care to patients and their families. Weave helps you free up time spent on administrative tasks, allowing you to dedicate your full attention to caring for animals.
Explore Weave’s features to learn how our veterinary software can support your clinic. Request a demo today.
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