Some small animal practitioners face slower growth or falling revenues alongside rising expenses
Home foreclosures. Rising fuel prices. Rising food prices. Job losses. Losses in the stock market.
In the current economic climate, small animal practitioners may fear that pet owners have less discretionary income or are less willing to spend on veterinary care. Practices also must account for some of the same cost increases as households.
Although statistics on practice revenues and expenses in 2008 are generally not available yet, veterinarians with expertise in economics believe most small animal practitioners are weathering the slowdown or downturn—varying by community.
“I think there’s no question that there’s an impact on veterinary practices from the economic issues the country is facing,” said Dr. Karen E. Felsted, chief executive officer of the National Commission on Veterinary Economic Issues. “But it’s not clear-cut that every practice is feeling the same pinch.”
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