Practice Owners Economic Survey
Once a year, the CVMA, in partnership with the provincial veterinary medical associations, invite practice owners who are members the opportunity to submit a Practice Owner's Economic Survey.
The results of this survey produces reports with detailed overviews of veterinarians’ financial situations in each province and are used to estimate fees required to cover overheads and earn a professional level income. Click here to read the results published in The Canadian Veterinary Journal.
Benefits completing a Practice Owner’s Economic Survey include:
- Individual Practice Diagnostic Report -- This report helps get and keep your practice on track. Over the last few years, practices have suffered from declining client numbers and pressure to lower fees. Practice owners who complete the survey receive a confidential personal report showing where they stand. Your personal Practice Diagnostic Report contains useful information you can use to improve your practice. Information on budgeting, staffing, comparing clients and fees is included. In addition, those who complete the Economic Survey have access to experts who can review the data and come up with pragmatic solutions to improve your practice and your lifestyle. This kind of practice consultation costs thousands of dollars in the United States; Canadian veterinarians can benefit from this service by simply completing the survey.
- Free Practice Value Estimate -- You receive a Practice Value Estimate, along with your Individual Practice Diagnostic Report, if you submit your financials with the survey. This report estimates your practice’s worth from a cash flow perspective. This is not designed to replace a “bona fide valuation,” which costs thousands of dollars, but will give a trackable estimate, allowing an ongoing measurement of practice value. Working backwards, you can use your individual report’s information to improve your practice’s profit; increasing the value.
- Non-DVM Wage Report -- Practice Owners will find useful information in this annual report relating to compensation and benefits for veterinary technicians and technologists, and clinic employees ranging from reception to management.
- The results of this survey is also a major component in the Suggested Fee Guides, along with procedure frequency data, time to complete procedure data, and overall economic data and forecasts.
Click here to access the 2021 Suggested Small Animal Fee Guide and here to access the 2021 Suggested Large Animal Fee Guide.
The CVMA acknowledges the collaboration of the provincial veterinary medical associations and appreciates the program co-partners for their financial support.