I had reason to drive up to the Mall of NH several times this week, and pass by one of the first Emergency & Referral Centers off of route #28
Hard economic times hitting vets, visits down.
"Veterinarians will need to improve their business skills starting now," says Karen Felsted, DVM, CPA, MS, CVPM, CEO of the National Commission on Veterinary Economic Issues.
The economic climate is far different than that of just a few years ago. The average number of transactions is flat or down, as are the numbers of new clients and active clients. And these trends started before the recession. "Even worse, we can't count on fee increases to fund our growth anymore. There was a time when we undercharged for what we did, and I'm sure some practices still are. But there have been unbelievable fee increases in the past five or six years: 30 percent or more in years where inflation was just 6 percent," Felsted says.
Dr. Felsted: I couldn't agree with you more! As one that experienced the decline in wages steadily from 2006 on, I became baffled at the huge increases in services. When other businesses were holding the "line" and trimming--vet-med care raged ahead beyond the American public's pursestrings to find themselves in a huge economic dilemma today.
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