
In this episode of The Business of Practice podcast, we shared insights from the 2024 AVMA AAEP Report on the Economic State of the Equine Veterinary Profession. The report was informed by three surveys conducted by the AVMA and the AAEP, including the Graduating Senior Survey, the Annual Census of Veterinarians, and the Equine Efficiency Survey. The episode highlights the valuable information gathered from these surveys and encourages listeners to access the report, which is available free for AVMA and AAEP members.
Notable trends in equine practice from the Senior Survey data over the past 10 years include a decline in the percentage of graduates entering equine practice, including both internships and associate positions, from 8.6% in 2014 to 5.3% in 2021, followed by an increase to 6.1% in 2023. Most new equine veterinarians choose internships rather than full-time associate positions, with their main reasons being to qualify for a residency, gain better skills, or meet the requirements for a desired job. Average starting salaries for entry-level equine practice positions have increased significantly, but these figures remain lower than those for companion animal positions.
The equine veterinary profession is predominantly female, with 60% of equine veterinarians being women, the majority of whom are younger and less experienced than the men in practice. The highest numbers of equine veterinarians practice in Texas, California, and Florida, which also have the highest number of horses. According to the Practice Efficiency Survey, equine veterinarians worked an average of 56 hours per week in 2023, which is considerably more hours than companion animal veterinarians. In addition, many newer graduates are considering leaving the profession because of factors such as long hours, work-life balance, and compensation.
You can download the full report here. Hopefully, these findings will encourage equine veterinarians to continue pursuing a more sustainable future for the profession.
About Dr. Amy Grice
Amy Grice, VMD, MBA, received her BA in Biology from Wellesley College in Massachusetts and completed her veterinary education at the University of Pennsylvania’s School of Veterinary Medicine in 1990. She earned her MBA with a concentration in Ethical Leadership from Marist College School of Management in 2014.
Grice was an ambulatory equine practitioner in the Hudson Valley of New York for over 25 years, serving as the managing partner of a 13-doctor equine referral hospital in Rhinebeck. At the end of 2014, she retired from clinical practice to concentrate on veterinary business consulting and moved her residence to Virginia City, Montana.
Grice is a member of the American Association of Equine Practitioners, where she served on the Board of Directors from 2015-2018 and as treasurer from 2021-2023. She has also served as a member of the AVMA Economic Strategy Committee since 2018. Grice is a frequent speaker at educational seminars for veterinarians across the country, as well as the founder of Decade One, which offers networking groups for equine veterinarians early in their careers. In addition, she consults with a diverse range of veterinary businesses and collaborates with industry partners to bring business education to veterinarians. Grice aids with transitions of ownership, strategic planning, financial projections, and other solutions for private practitioners.
Related Reading
- The Top Factors Influencing Equine Veterinarians’ Job Satisfaction
- Business Briefs: Horse Industry Statistics Veterinarians Should Know
- The Business of Practice: New AAEP Bylaws With Dr. Katie Garrett
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