The veterinary pricing recovery is here to stay — at least for now.
Produced by Nationwide in collaboration with economists from the Krannert School of Management at Purdue University, this latest edition of the Index focuses on the last 18 months since veterinary pricing hit rock bottom in December of 2014. Finally, it seems practice owners are feeling secure enough to increase pricing to a little above the 2009 mark.
The Index is an analysis of more than 21 million pet health treatments from January of 2009 through June of 2016, representing 8.7 million pet health insurance claims with a total value of $2.183 billion. Our analysis shows both medical and well-care pricing increasing from early 2015 through mid-year 2016 at a faster rate than the rise in the U.S. Consumer Price Index (CPI).
Our Nationwide | Purdue study reveals a 4.0% increase in veterinary pricing during the period of January 2015 through June 2016. Broken into components, our analysis shows a 3.3% increase in well-care pricing over the same period, and a 4.2% increase in medical treatment pricing.
The study also looks at regional and population density pricing trends. Download latest edition to get the complete analysis. Previous editions of the Nationwide® | Purdue Veterinary Price Index can be downloaded from the Studies and Research tab.
The next refresh will comprise 2009-2016, inclusive, and will be released at the AVMA Convention in July of this year.
At NVAC? Win a $50 gift card!
If you are attending the NAVC Conference, please drop by our booth (1729). We’d love to tell you about our Whole Pet With Wellness, which pays 90% of almost everything you do or prescribe, after a $250 annual deductible and with no annual cap. That includes specialty care, rehab, behavioral medicine, prescriptions, therapeutic diets … the list goes on and on.
While you’re at the booth, find out how to win a $50 gift card. It’s our way of saying thank you for your time!