And they’re willing to go into debt to do it. That’s according to a new survey by online financial group LendEDU that asked 1,000 US pet owners how much they spend on their pets and how it impacts their personal finances.
Maybe a lot. A new study out of Australia found that up to 40% of dog owners report their dogs are scared while being examined by a veterinarian.
The battle is on for control of the pet medications market—which recorded $9 billion in sales last year—but for the moment, it’s pretty one-sided in favor of veterinarians.
If your clinic is selling pet food, you’ve no doubt noticed that recalls are becoming part of life. They are also spurring client spending on “natural” and “organic” pet food. At least, that’s what a recent report suggests. Packaged Facts, a division of MarketResearch.com, released its report Natural, Organic and Eco-Friendly Pet Products in the U.S., 6th Edition, and noted that consumers perceive that natural and organic products are purer and safer than regular products. Product safety and the potential for contamination are also a consumer concern. The report was published on Oct. 12.
The last 20 years have seen a lot of changes in veterinary medicine and even more challenges to the economic prosperity of pet owners. Through all of this, pet owners’ relationship with their veterinarian continues to trump price, says Darren Osborne, OVMA director of economic research.
Researchers from the University of Florida conducted a study to determine whether wellness plans are financially beneficial to small animal teaching hospitals. The results of their study indicated that wellness plans not only can provide a boost to the bottom line, but they also hold potential benefits for veterinary students and animal patients.
A study recently published in the 'Journal of the British Veterinary Association' may prompt veterinary practices to re-evaluate how accessible they are to visually impaired clients who bring their guide dogs in for care. The study's authors explain that "a little extra time, effort, and communication can enhance the visit of a blind or partially sighted owner to veterinary practices."
The inaugural Veterinary Innovation Challenge (VIC) finished strong in September, producing a winning team with a product that Nikhil Joshi, VIC executive director, said has the potential to "shake the industry." NEWStat gave SPEAK co-founder Jamie Peisel the chance to discuss her experience at the competition, details surrounding the product she developed, and her future plans for SPEAK.
A recent study published in the Journal of the American Veterinary Medical Association took a look at whether team effectiveness could reduce burnout and improve job satisfaction among veterinary teams. According to the authors, previous studies have evaluated job stress, burnout, and job satisfaction among veterinarians, but no empirical studies have focused on the entire veterinary team.
To Nikhil Joshi, the veterinary industry is full of endless possibilities for entrepreneurial veterinary students who have big ideas and the ambition to develop those ideas into businesses. The opportunity to drive growth in the veterinary industry through entrepreneurship is why Joshi, a student in the University of Pennsylvania School of Veterinary Medicine class of 2015, worked with other veterinary and business students to create the inaugural 2014 Veterinary Innovation Challenge.