Benchmarking your independent veterinary practice’s performance against peer practices is a powerful business management tool. Comparing your practice to others that are similar helps you answer key strategic and operational questions: What should I start doing, stop doing, or do more or less of to help my practice thrive? VMG members have access to benchmarking through VMG Datalink , conversations with peer group members (LINK TO FIRST STUDY GROUP BLOG), and VMG’s regular economic surveys of member practices.
The 2025 Economic Survey Report analyzes survey responses from VMG members, predominantly in companion animal veterinary practices, with a separate section addressing results from equine practices. This year’s average responding member was 48 years old with 24 years of experience; 57% of them were female.1 The average practice in the survey has three FTE veterinarians and 1 part-time or relief associate, four to five certified veterinary technicians (CVTs), and nine veterinary assistants.1 While VMG members receive the full report, here’s a sample of what they are learning.
Staff optimization and practice efficiency
Reports from VMGs independent veterinary practices make it clear that many feel they could be seeing more patients. Why aren’t they? Capacity constraints are driven by workforce shortages, not lack of facilities or space.1 During the COVID pandemic, many veterinary practices struggled to staff their clinics sufficiently to see appointments. Many expected their appointment capacity to increase again after the pandemic. Our survey reports show that it has – but by less than 1 appointment per day.1 What’s happening here? The survey report can help you understand.
Turnover rates for staff members play a significant role. A team that is constantly training new members cannot be as efficient as one that has worked together for years, and whose members are comfortable offering and asking for help when needed. Member practices report dramatically higher turnover rates among all staff members than among veterinarians. Veterinary assistants have the highest turnover rate, at more than 31%; receptionists are not far behind at almost 25%, and the turnover rate for CVTs is almost 17%.1 High workloads in these roles can rapidly lead to burnout and departure from the practice. Using the VMG 2025 Economic Survey Report, members can benchmark their own practice against average staff numbers, working hours, and turnover rates for veterinary and non-veterinary positions.
Essential operational benchmarks
Every day, your practice operates to serve your clients and patients, offering care that will help them live long and happy lives together. The underlying processes are what make that possible. Do you know how to measure them? The survey reveals key performance indicators for practice management, including average appointment times, number of patients per FTE veterinarian, scheduling times, and how peer practices use their different spaces.1
For example, on average 54% of wellness visits are scheduled within seven days, while 98.4% of emergencies and 82.7% of urgent illnesses are seen on the day the client reaches out.1 How does your practice compare? Tracking and benchmarking these metrics can provide valuable insights for improvement patient care and business efficiency.
Key financial insights
Running a practice requires financial knowledge, but using that knowledge to make sound business decisions is much harder without reliable data. One of the many advantages of VMG membership is access to reliable financial benchmark data. Through VSG Datalink, VMG members can access data from their peer group practices, which are matched for size, patient orientation, and business objectives. This report broadens that scope, providing a larger comparative data set.
Revenue and expenses
Revenue and expenses are bedrock business metrics. The survey reveals how much revenue practices derive from professional services, prescription sales, laboratory services, and other common practice activities. It also provides VMG members with data on average salaries, benefits, and how peer practices manage production-based pay.
New client numbers
New clients, those who receive a product or service from your practice for the first time, are the future of your practice. When old, well-loved patients die and aren’t replaced, or existing clients cut back on services, new clients make sure the practice will continue to grow and thrive.2 National data indicates that new client numbers decreased in 2024 by more than 8%.3 That’s a useful benchmark, but it is based on both independent and corporate clinics. The VMG 2025 Economic Survey data is specific to independent veterinary practices, allowing VMG members to track their progress against a more relevant peer group. How many new clients did you welcome to your practice last year?
Making informed decisions for your practice
VMG members know that by leveraging their strengths, taking advantage of opportunities, and using data wisely, they can compete successfully against corporate practices.4 They can offer their patients the best care possible, while providing a positive workplace and financial stability for themselves and their staff members. New and seasoned practice owners can use the data in this report to answer a range of important questions, including:
- What Practice Management Information System (PIMS) is best for my practice?
- Am I paying my staff what they’re worth?
- Am I spending the right amount of time with each patient?
- Should I charge for telehealth? How much?
Like VMG Peer Groups, the VMG Economic Dashboard, and VMG Connect, the VMG 2025 Economic Survey Report is a valuable source of business information that helps independent practice owners make the right decisions for their practice and their patients. The report provides insights on everything from salaries and benefits to pricing, helping you set targets and understand what’s achievable in a practice like yours.
If you’re a proudly independent veterinary practice owner who wants your practice to run more efficiently and offer better care without pushing your team into burnout, it’s time to find out more.
References
- McKay, C., Salois, M., Neill, C. VMG 2025 Economic Survey Report. (2025) Veterinary Management Groups, John’s Creek, Georgia, USA.
- Covetrus. ‘Why new customers are vital for practice success.’ Accessed 16 September 2025. Available online: https://software.covetrus.com/emea/veterinary-insights/article/client-solutions/build-your-veterinary-practice-with-new-customers/
- Gilmartin, S. Yost, B., Zirkle, K. Behavior Shift: Implications of today’s pet owner trends on veterinary medicine in 2025. (2024) VetSource, Portland, OR, USA.
- Salois, M., McKay, C., Platt, M., & Traub-Werner, M. (2025). ‘Making the Case for a Resurgent US Independent Veterinary Practice Segment: A SWOT Analysis.’ Frontiers in Veterinary Science, 12, 1558745.
