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This Week's Findings
June 30, 2020
Average weekly transaction volume, or clinic traffic, has been significantly lower than 2019 since the week of March 27. While the gap between 2019 and 2020 has closed in recent weeks, clinics are still seeing approximately 5-10% fewer transactions than last year. When compared with PetTrak USA results (not shown), the United States has seen a much more rapid return to normal levels of transactions.
Average number of days worked by veterinary clinics has remained consistent with 2019 throughout the COVID crisis.
Average visit revenue, or revenue per transaction, was significantly higher in 2020 than in 2019 for the period leading up to social distancing measures (March 20). After a fairly short period where average visit revenue dipped below 2019 levels, this metric has rebounded with average transactions in 2020 being significantly higher than in 2019 in all weeks since May 8.
Results as published are derived from PetTrak, Kynetec’s proprietary analytics platform which analyzes anonymized transactions from practice management systems. Results are nationally representative of veterinary practices across Canada.
There are two key metrics included in the PetTrak COVID Impact Monitor Report:
- Average Number of Pet Visits Weekly (Shows a comparison of average number of transactions a clinic records in a given week versus that same week in 2019). In this case a “Pet Visit” is a transaction directly related to a patient record (regardless of whether or not the patient was physically inside the clinic). This measure provides insight into clinic traffic or transaction volume.
- Average Number of Clinic Days Open (Shows average number of days per week where at least one transaction is recorded).
- Average Visit Revenue (Shows average revenue per transaction). This measure provides insight into average spend per transaction.
- Our data source is PetTrak, our global platform for analyzing transactional data from practice management software (PMS)
- Active in the USA, France and Canada
- Includes a nationally representative panel of clinics
- Results are based on hundreds of thousands of patients and millions of transactions
- All data received are anonymized, we identify patients as a record number only
- For our COVID ImpactTracking Report, we only included clinics for which we have sales data in all weeks from 2019 to present
- For further questions, please contact Colin.Siren@kynetec.com