Where the diagnostics industry is headed.
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When it comes to practice growth, veterinarians think the biggest income boost in future years will come from wellness and
preventive medicine, according to a new survey by veterinary industry analyst Ryan Daniels at William Blair & Co. A close
second is diagnostic testing—a revenue source that's closely related to wellness care. More and more practices are incorporating
blood testing, urinalysis, and fecal exams into their regular wellness exams, and doctors are reaping financial rewards for
their practices and better health for their patients.
As the charts on this page show, signs are pointing toward increased testing in the coming years. Well-Managed Practices are
already on board. Participants in the Veterinary Economics and Wutchiett Tumblin and Associates Benchmarks 2007 study saw laboratory services as a percentage of medical revenue climb
from 18 percent in 2004 to 22 percent in 2007.
Quick stats.
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Diagnostic testing presents a win-win for veterinarians and pet owners. It means clients are spending money consistently over
the life of their pets and not all at once in a glut of last-ditch procedures when problems arise, especially when their pets
are older.
Why practices test in-clinic vs. out-of-house.
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Click on the related links below to find out what the boost in diagnostic testing means for the industry and how you can make
it a cornerstone of your practice's growth.
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