Recession Proof? Have Veterinary Clinics Been Killing Growth Due to Staff Shortages, Placing Them At Risk During Recession?
We’ve heard too many stories the past few months of veterinary clinics not taking new patients or unable to see routine care appointments for weeks. Have the pandemic, workplace shortage, an inflation made the veterinary industry potentially less “recession proof” than before? Viewfinders, let’s tackle this tough topic!
Hosts Dr. Ernie Ward and Beckie Mossor, RVT discuss how some clinics may be inadvertently putting themselves at increased risk of recession impacts due to not accepting new patients, long waits for annual care, and rising prices.
Dr. Ward points out why this potential recession may be unlike any other for the veterinary profession as a multitude of veterinary market forces conspire to threaten our traditional economic resilience.
Beckie discusses her concerns that too many veterinary practices may not appreciate that today’s clients may not be as loyal as in the past and that vet-flation may cause many pet parents to price shop out services.
Our hosts discuss the “veterinary workforce translocation” that may have additional impacts on how independent vet clinics operate in the future. They also discuss steps every clinic needs to take now to lessen the affects of a potential economic downturn.
Viewfinders, we hope this episode gives you ideas on how to weather the economic storms that may lie ahead. Don’t forget to head over to Apple Podcasts and drop 5-stars on on us so we may reach more veterinary colleagues! If you have any questions or topic ideas, email us at veterinaryviewfinder@gmail.com!
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