18^th International Veterinary Congress

Veterinary Economics

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The Veterinary Services industry is labor intensive. In 2015, wage costs are comprised of 36.6% of industry revenue, compared with depreciation costs accounting for 2.3%. For every dollar spent on wages, the industry incurs an estimated $0.06 in capital costs. All areas of operation of an animal hospital require a significant input of knowledge and skill. There is a high level of hands-on care required in diagnosing and treating animals. Veterinarians are well educated and possess a high level of skill, which results in elevated wage costs. Support is required in the areas of registering the animal on arrival at the hospital and receiving payments as well as taking samples, exercising, feeding, grooming and cleaning animals.