The Vet Economy Exposed: Where We Are, What's Next, and What to Do Now
0.5 CE Credit Hour / Veterinarians & Veterinary Technicians
Overview:
Is the veterinary economy truly recession-resistant? This course presents findings from a peer-reviewed study in Frontiers in Veterinary Science that models and forecasts the veterinary medicine business cycle using 25 years of industry-specific data. Participants will learn why the industry entered a recessionary phase in late 2024, what the forecast suggests through 2026, and — most importantly — what practice owners and managers should be doing right now. Phase-specific management strategies covering cost containment, workforce planning, client retention, and capital positioning are discussed for each stage of the veterinary economic cycle.
Learning Objectives:
- Explain the current phase of the veterinary medicine business cycle and describe how industry-specific price and expenditure trends differ from the broader macroeconomy.
- Differentiate between the economic characteristics of each business cycle phase — recession, recovery, expansion, and peak — and identify which phase their practice is currently navigating.
- Assess and prioritize phase-appropriate management strategies for their practice across the areas of cost containment, workforce planning, client retention, and capital positioning.
Clint Neill
Dr. Neill is the Managing Partner for Applied Economics Consulting, LLC. A company he started to focus on full stack data insights and economic education for the animal health and agriculture industries. His Ph.D is in agricultural economics and has held academic appointments at both Virginia Tech and Cornell University and maintains adjunct appointments with both institutions. From data creation, tracking, and analysis to actionable insights, Clint strives to improve the lives of everyone within the organizations he works with through his consulting firm and academic research.
This course is RACE-approved for 0.5 continuing education credits hours in jurisdictions that accept RACE-approval.
This activity is sponsored by DaySmart.
