KING OF PRUSSIA, PA — Veterinary Practice Partners (VPP) has released its 2024 Mid-Year Update, highlighting the company’s continued success as a co-owner partner for veterinarians nationwide. The report showcases growth in partnerships, clinic revenue, customer satisfaction, and gender diversity.
VPP has demonstrated a strong commitment to developing associate veterinarians into co-owners, aiming for more equitable practice ownership in the veterinary industry. The company also focuses on enhancing the skills and service offerings of doctors across the U.S.
Key Highlights from VPP’s 2024 Mid-Year Update:
Doctor Partnerships Surge: Thirty-one doctor partners have joined the VPP community this year, marking an 82% increase from the last six months of 2023. VPP now includes 206 doctor partners across 29 states. The co-ownership model offers improved purchasing power and robust operational support, allowing veterinarians to focus on patient care and community service.
Professional Development: Over 240 doctors and staffers have completed various in-person courses in clinical, leadership, financial acumen, and practice management. This emphasis on professional growth continues to attract interest within the VPP community.
Revenue Growth: VPP’s practice locations have seen year-over-year revenue growth that exceeds industry averages for the first half of 2024. This indicates the effectiveness and profitability of VPP’s support for its doctor partners.
Diverse Representation: Among VPP’s 206 doctor partners, 62% are female, highlighting the company’s focus on increasing diversity in veterinary practice ownership. This aligns with the broader trend of a predominantly female workforce in the veterinary industry.
Associates Becoming Partners: Twenty-two associates have transitioned to practice co-ownership this year. Seventy-one percent of VPP’s new doctor partners in 2024 are former associates, bringing the total number of associate DVMs who have become co-owners to 115.
Customer Satisfaction: The average Google rating for VPP practices in the first half of 2024 was 4.8 out of 5 stars, reflecting high standards of customer service across its network.
“We are proud to share our 2024 Mid-Year Update, which reflects VPP’s ongoing commitment to partner with and support the veterinarians within our network through meaningful career development and mentoring resources,” said John McDonough, CEO of VPP. “VPP grows when we focus on people, culture, mission, vision, and values. Our work in developing our people and elevating our doctors to become partners reinforces these ideals, and we look forward to driving further growth throughout 2024 and beyond with these tenets as our foundation.”
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