Synopsis
The veterinary profession is undergoing a significant shift as practices face growing pressure to reduce reliance on medicine sales. With changing client expectations, regulatory constraints, and the increasing availability of online pharmacies, the path to sustainable practice growth requires innovation and adaptability. Joining Simon and Pete will be SPVS in-practice vets Vicki Farbon and Kate Higgins to share practical strategies for all practice types to thrive in a landscape where medicine sales are no longer a primary revenue driver. Using actual figures, they will demonstrate the impact of varying levels of lost medicine sales and help calculate how you will need to increase your fees accordingly to offset this. This session will also consider how diversifying your income streams can support long-term business sustainability. Attendees will leave with a clear understanding of how to build a resilient, forward-looking business model whilst maintaining high standard of care.
Learning outcomes
- Analyse the financial impact of reduced medicine sales in different practice types
- Calculate how fee adjustments can offset lost revenue
- Evaluate practical strategies for diversifying income streams
