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Veterinary Practice Management Articles


The Veterinary Practice management articles are provided as part of the CVMA Business Management Program, which is co-sponsored by IDEXX Laboratories, Petsecure Pet Health Insurance, Merck Animal Health, and Scotiabank. 

The articles are published every other month (January, March, May, July, September and November). Access is reserved to members during the first 6 months following their publication.

2020
The demand for associate veterinarians: Surveying the “shortage”
Canadian veterinarians continued to prosper in 2019, as the national veterinary economy expanded for the 4th consecutive year, attaining new record highs in several key metrics. Across both companion animal and mixed and large animal hospitals, revenues grew, expenses remained under control, and net incomes advanced. Click here to read the full article...
Let the good times roll: Results of the 2019 CVMA Practice Owners Economic Survey
Canadian veterinarians continued to prosper in 2019, as the national veterinary economy expanded for the 4th consecutive year, attaining new record highs in several key metrics. Across both companion animal and mixed and large animal hospitals, revenues grew, expenses remained under control, and net incomes advanced.  Click here to read the full article...
Veterinary fees, inflation, and expenses: Keep your foot on the gas 
Most veterinary fees have grown over the past 5 years. However, when compared against inflation, the price for some veterinary services has not kept pace with the overall escalation in the cost of living in Canada. If the assessment is expanded to specifically consider some of the largest expenses veterinary hospitals incur in running their businesses, fee increases appear even more modest.  Click here to read the full article...
Surviving a downturn: How to keep your practice afloat
After continuous growth in revenue and net income from 2015 through 2019, COVID-19 is threatening to spoil the streak Canadian veterinarians have been enjoying. While the progression of the pandemic is beyond the control of any one person, there are steps that veterinarians can take to help ensure their business weathers this storm, and rebounds as quickly as possible once it abates. Click here to read the full article...

 

2019

The true cost of credit: Student debt and repayment
Becoming a veterinarian is a long, and expensive undertaking. After 7 to 8 years of post-secondary education, it is not surprising that the average Canadian veterinarian graduates with $65,000 in student debt. In addition to this debt; however, the decisions made in its repayment can dramatically alter the true cost of credit.  Click here to read the full article...

Reaching new heights: Results of the 2018 CVMA Practice Owners Economic Survey
The Canadian veterinary economy chalked up a third consecutive year of strong growth in 2018, with both companion animal hospitals and mixed and large animal hospitals enjoying increases in revenues and net incomes. After setting records in 2017, these key metrics once again surged to new highs this past year.  Click here to read the full article...

Keeping up with the cost of living: Average fees and inflation
While the price of many veterinary procedures has risen over recent years, a comparison of common fees against inflation clearly demonstrates that these increases have been modest and proportional to the overall expansion in the cost of living in Canada. Click here to read the full article...
Maybe money can buy happiness: Associate satisfaction and compensation
Last year provided mixed results for Canadian associate veterinarians. In the good news column, most associates were satisfied with their employment, and saw their annual compensation climb from 2017 to 2018. On the other hand, wage gains failed to keep pace with inflation.  Click here to read the full article...
Practice management software: A 3-horse race
While there have been several new practice management software packages introduced in recent years, the 3 most common programs: AVI Mark, Cornerstone, and Impromed, have maintained their hold on the Canadian market. Across the country, they combined for 68% of veterinary practice management software used. This is an increase from 5 years ago, when these 3 same programs accounted for use in 64% of hospitals. Click here to read the full article...

Overtaking inflation: Veterinarian compensation in government, industry, and academe
For veterinarians employed outside clinical practice, in government, industry, or academia (GIA), 2019 was a positive year. Median annual compensation climbed by 5.8%, significantly outpacing inflation. This helped regain ground that had been lost in previous years, when compensation had fallen.  Click here to read the full article...