The Business of Practice: Current State of the Equine Veterinary Industry

On this episode of The Business of Practice podcast, Chris Doherty, DVM, MBA, CBV, assistant director of strategic business research and outreach for the AVMA, discussed the current state of the equine veterinary industry. He explained the equine data presented in the 2026 AVMA Economic State of the Veterinary Profession report, which was released in March. This report used data from three surveys to build a comprehensive picture of the people and practices in veterinary medicine. The report is free to AVMA members and can be downloaded from the AVMA Store.

The discussion began on the topic of early career compensation and the disparities between different sectors of practice. Doherty said the recent increases in equine associate starting salaries are in line with those in mixed and food animal practice and “have removed the disincentives for entering equine positions.”
Equine graduates have lower amounts of veterinary educational debt than the overall population of veterinary graduates, with average debt (for students carrying loans) of $198,000 compared to $212,000 for all sectors combined. Twenty-five percent of the equine students graduated with no debt compared to 18% of all graduates.

Doherty shared that the average salary of equine associates of all experience levels ($122,000) was comparable to that of doctors in mixed practice or food animal practice. Equine practice owners’ compensation was competitive with other sectors. While average work hours (54) in equine practice were higher than in companion animal (46), he noted the “inefficiencies that are baked into equine practice.” Satisfaction levels in all sectors were quite similar, he said.

In closing, he encouraged listeners to utilize the many resources available at AVMA and watch the recent AXON webinar on Economic Trends in Equine Veterinary Medicine.

About Dr. Christopher Doherty

Christopher Doherty, DVM, MBA, CBV, is the assistant director for strategic business research and outreach at the AVMA. Doherty obtained his DVM degree at the Ontario Veterinary College and his MBA at McMaster University’s DeGroote School of Business. He is also a Chartered Business Valuator. In his role with the AVMA, he analyzes data pertaining to new and early-career veterinarians. He works in tandem with the rest of the veterinary economics division team to aid in the translation of research findings into tools, resources, and actionable items that veterinarians can utilize and implement in their practices and careers.

In his spare time, Doherty enjoys outdoor activities with his wife and young daughter.

Related Reading

• The Business of Practice: What Current Economic Indicators Mean for Veterinarians
• Affording New Paradigms in Equine Practice
• The Business of Practice: Results from the AAEP’s Early-Career Practitioner Survey

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