VETERINARY HEALTHCARE WORKERS ARE FEELING OVERWORKED AND OVERWHELMED
Mars Veterinary Health, a division within Mars Petcare, commissioned a new study to quantify the chronic shortage of veterinarians at companion animal hospitals. Mars owns and operates a network of 2,500 veterinary clinics, hospitals, and diagnostic labs across 21 countries.
STUDY: Pet Healthcare in the U.S. – Are there enough Veterinarians? (4.14.21)
- U.S. pet healthcare spending is predicted to increase 33% between 2019 and 2029.
- Nearly 2,000 baby boomer veterinarians are retiring each year.
- The number of U.S. veterinarians is increasing just 2.7% annually.
- More than 40,000 new veterinarians are needed to meet projected demand in 2030.
- A shortage of nearly 15,000 veterinarians will likely still exist by 2030.
According to a 2020 study (The Voice of the Veterinary Community) by the North American Veterinary Community (NAVC), a non-profit organization that provides support services for veterinary healthcare professionals, found that the 2nd leading stressor for veterinarians was “the pressure to adhere to appointment time restrictions.”
MODERN ANIMAL: New hospital group startup bucking the trend on production-based compensation:
“For vets, Modern Animal promises better work-life balance, with flexible scheduling, predictable hours and a compensation plan that replaces the revenue or production-based compensation model, where a vet’s salary depends on how many expensive surgeries or treatments he or she performs. Modern Animal instead uses set salaries and gives its vets equity in the company, according to forbes.com.”
- How Veterinary Consolidators Are Building a Future-Proof Enterprise (1.27.21)
- “Consolidating practices means merging different cultures, workflows and systems, which is a significant stressor for employees. If not managed properly, the frustration and uncertainty caused by the changes will result in increased staff turnover post-acquisition.”
- Does Corporate-Owned Veterinary Practices have a High Employee Turnover Problem?
- Approximately 70% of the job listings on the AVMA Veterinary Career Center and other job sites come from corporate or consolidated practices. In contrast, about 35% of veterinary associates are employed by corporate practices, according to JAVMAnews.
- Buyers’ Purpose vs Employees’ Purpose: “There is a tremendous mismatch between buyers’ purpose and employees purpose. In the case of consolidation backed by private equity, most buyers’ purpose is to make money for their investors. Veterinary teams’ purpose is to help animals. There is a conflict of values that burns people out and drives them away” according to the founder of Galaxy Vets.