Practice Owner’s Economic Survey
Each year, the Canadian Veterinary Medical Association (CVMA), in partnership with the provincial veterinary medical associations, conducts a Practice Owners Economic Survey. The purpose of this survey is to gather data on revenue, expenses, income, number of current and new clients, fees, and DVM and non-DVM staff compensation. Any practice owner is welcome to submit a survey, however, all reports and the free practice value estimate can only be accessed by CVMA members.
***The 2021 Practice Owners Economic Survey is now available!***
Alberta, British Columbia, Manitoba, Ontario, New Brunswick, Newfoundland & Labrador, Nova Scotia, Prince Edward Island, Québec, Saskatchewan
Complete a survey before October 15 for your chance to win a $500 gift card or complimentary registration to the 2022 CVMA Annual Convention.
Benefits completing a Practice Owners Economic Survey include (available to CVMA members only):
- 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.
- National Economic Report -- This report will present the findings of the 2020 CVMA National Practice Owners Economic Survey for companion and mixed/large animal practices and analyze Canada-wide trends over the past four years.
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 overal 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.