Challegne in Vet Medicine - Google Docs

.pdf

School

Louisiana State University *

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Course

3070

Subject

Medicine

Date

Oct 30, 2023

Type

pdf

Pages

Uploaded by HighnessEnergyAlbatross32

There are many challenges in the field of Veterinary Medicine that continue to grow in severity. A major issue in the field of veterinary medicine is financial pressure. From school debt to the cost of running a practice, veterinarians get little breaks from the underlying stress that financial status puts upon them. The financial pressures start from an undergrad student to a Doctor of Veterinary Medicine. Student loans begin freshman year of college and continue to build. Tuition ranges from 10K to 40K a year, depending on school status and in vs. out of state tuition, just for a 4 year degree (Kerr & Wood, 2022). Yet majoring in a pre-veterinary is just the beginning struggle, adding on it is veterinary school, which is costly and not guaranteed with an average acceptance rate of 10-15% (“Admitted Student Statistics, 2023). According to the AVMA, the average cost for Veterinary school averages between $26K to $60K a year causing many students to find themselves in debt after schooling (Cost Comparison Tool, 2021). Inflation is a big issue in the US and has found its way into veterinary care for our pets. The industry has seen increases of up to 12% in cost and value of care, increasing the cost to run tests, treat injuries and administer and prescribe medications (McReynolds, 2022). These increasing costs not only affect the salaries, the profitability of the practice and the supply needs of the vets but discourage families who are unable to make those types of payments from seeking out veterinary care for their beloved pets. Lastly, there is a huge level of competition in the field only increasing financial pressure. Having increasing medication costs, creating a smaller demand and clientele

group, only increases the struggle of paying the cost of owning the practice, as it’s estimated nearly a million dollars to start a practice itself (Hoeksema, 2022). Overall the financial pressures are a huge challenge in the veterinary industry and can have significant impact on the vets, the clients and the practice. Financial pressure is something that is a continuing struggle and it's important to ensure we keep veterinary care at the forefront for the health of beloved pets.

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