Posted by Dave SE Mich on April 24, 2012 at 18:48:48 from (64.112.200.63):
In Reply to: O/T Pet Vets posted by donjr on April 24, 2012 at 17:32:44:
I have been a veterinarian in solo mixed practice for 40 years, my cost to stay in business has soared in recent years. Drug costs now have 7-30% increases most years, instead of the 3-5% years ago, you guys know the cost of a pickup and to keep it on the road to do farm calls. The last time I needed the air conditioner repair man, the service call was $150 for a 6 mile drive to my office.
I have a 1400 sq. foot building for small animals and it cost $175,000 years ago and about another $80,000 for basic equipment. To keep good employees it is costing more, I lost a 12 year employee this month and the replacement starting next month is costing more.
Health insurance now costs over $30,000 per year, property taxes are $5300, drugs $70,000. there are many more expenses, wages, building insurance, liability insurance, utilities, continuing education, license fees, building repairs, lab equipment maintenance contract, retirement money and etc. Two years ago it cost $4000 for computer software and $5000 for new computers to replace 10 year old outdated ones. It costs $1145 per year for computer software support and upgrades.
The average debt of a new vet school grad is almost $200,000 and they also have car payments, housing expenses, maybe kids to raise and etc. Buying into a practice is high also and very few can start from scratch on their own.
Yes I have made a good living, but not riches. Be glad the young vets are vets as starting wages for MD's are much higher and if money is the goal, they are not vets.
The above fees do not seem extra high, routine annual checkups and exam fees, vaccinations, heartworm meds, flea and tick meds can easily top $150.00 We like to meet a standard of general care and offer services that are needed by your pet, if you want to decline, that is your choice and right.
The lowest fees are generally from smaller rural practices and the highest by corporate chains. Also remember cheapest is not always the best. I hope my long post gives some helpful information to the other side and yes increase costs and debts are a problem for many veterinarians.
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