American Association of Equine Practitioners ECONOMIC …...American Horse Council estimated the U.S. horse population at 7.2 million in their recently released report (American Horse

American Association of Equine Practitioners

ECONOMIC REPORT

4_1_2019

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05.1.18 American Association of Equine Practitioners Equine Report

© Copyright 2018. American Veterinary Medical Association. All rights reserved.

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OBJECTIVE

The American Association of Equine Practitioners (AAEP) partnered with the American

Veterinary Medical Association (AVMA) early in 2016 to produce a survey that explored the

economics of the equine segment of the veterinary profession. As of December 31, 2017, there

were 110,531 veterinarians in the United States, and a total of 117,735 veterinary positions

that were being worked in.1 The equine sector is currently estimated at 5.7 percent of the total

number of private practice positions in the United States. Of the 117,735 U.S. veterinary

positions, 71,393 are private clinical practice, and 4,043 of these positions are positions in

equine practice. An additional 4,220 positions are in mixed animal practice (“Market Research

Statistics: U.S. Veterinarians 2017,” 2018).

The recession of 2008, coupled with changes in the equine industry, had a negative effect on

equine practices (Blach, 2015), but little economic data were available to measure the impact

of the economic downturn on the economics of equine veterinary practice. The objective of the

AVMA-AAEP 2016 Survey of Equine Practitioners was to collect data to analyze the economics

of the equine veterinary industry as well as answer important questions about the profession,

including:

1. What does this population look like?

What are the current demographics of the equine veterinary profession in the United States?

What does the current workforce look like? What is the educational cost of becoming an equine

veterinarian? How much student loan debt are equine veterinarians carrying?

1 Veterinarians may hold more than one position.

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2. How do the multiple sectors of equine practice differ?

How do sectors of the equine veterinary industry differ in their business models? Are there

differences in economic performance between sectors? Does associate and owner

compensation methodology differ between sectors?

3. What is the current state of transitions of ownership in equine practice?

What is the current state of ownership entry/succession planning by practitioners?

4. What is the impact of internships on the profession?

What is the value of an equine internship? What do the current internships typically look like

for participants and practices? Do graduate veterinarians feel prepared by their education as

they begin their careers? What expectations do employers have for new associates? What

reasons may emerge to suggest why young equine veterinarians are leaving the profession?

5. What is the current state of health of equine practitioners?

How healthy are equine practitioners? How risky is the profession? Where do the risks lie?

This report outlines the results of the AVMA-AAEP 2016 Survey of Equine Practitioners, with

inclusion of data from the Equine respondents of the AVMA 2016 Census of Veterinarians, and

contrasts these data with those of all U.S. veterinarians responding to the AVMA 2016 Census

of Veterinarians, the annual general membership survey. Through understanding the current

economic environment, efforts to improve the experiences of equine practitioners and the

economic outcomes in equine practice may be more effective.

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INTRODUCTION

Veterinarians identifying as working with equids, whether in an exclusive or predominant

equine practice, or in a mixed animal practice, are a minority in the profession. The equine

segment of the veterinary profession is currently estimated at 5.7 percent of the total number

of private practice positions in the United States. As of December 31, 2017, 71,393 of the

117,735 U.S. veterinary positions are private clinical practice, and 4,043 of these positions are

positions in equine practice2. An additional 4,220 positions are in mixed animal practice

(“Market Research Statistics: U.S. Veterinarians 2017,” 2018).

Economic trends in the equine industry, and thus the equine veterinary industry, were

predominantly negative in the years following the recession of 2008. Based on AVMA data

(2016), it is estimated that the U.S. horse pet horse population declined between 2011 and

2016, and according to the USDA, the horse population on farms that reported at least $1,000

in annual sales declined by 10 percent (National Agricultural Statistics Service, 2012). The

American Horse Council estimated the U.S. horse population at 7.2 million in their recently

released report (American Horse Council Foundation, 2018), down from 9 million in 2004

(American Horse Council Foundation, 2005). Youth participation in equine activities has

declined, according to the 2014 Brakke Equine Market Mega Study. The proportion of horse

owners aged 18 to 34 has declined from 24 percent in 2006 to 11 percent in 2013, according to

Brakke (JAVMA News, 2014). Data from the Merck-Henry Schein National Equine Veterinary

Economic Study also showed a 6.7 percent reduction in the annual income of equine

veterinarians during the period of 2006 to 2012. In contrast, companion animal exclusive

veterinarians saw an increase in annual income of 22.7 percent during the same period (Blach,

2017).

2 Veterinarians may hold more than one position.

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Historically, many veterinarians who work with horses in the early phases of their careers have

opted to switch to other career paths within the first four years after graduation. AAEP

membership data from 2008 to present show that almost 33 percent to 50 percent (depending

on the year) of new veterinarians who are members of the AAEP at the time of their graduation

are no longer members just four years later. This suggests that these doctors no longer work in

the equine field. Gathering data about the current state of the equine veterinary industry will

allow stakeholders to make informed decisions and initiate more effective efforts to strengthen

the profession. The results of this study will help facilitate the AAEP’s strategic direction, and

assist in the creation of new strategies and policies to achieve identified goals.

By conducting a comprehensive analysis of internal resources, the factors affecting these

resources, and the environment in which the industry operates, a detailed picture of the

present reality emerges. The general conditions of the local, regional, and national economy

and the characteristics of the equine veterinary market – including the structure of the

profession (the number and size of practices), the level of competition existing within the

profession and between veterinary and non-veterinary service providers, and the institutional

rules that govern the interactions between organizations or individuals within the market

regions – all factor into this analysis.

The success of the equine veterinary profession is strongly linked to the economic conditions of

the equine industry and the agricultural industry as a whole. Equine veterinary practices

provide services to horse owners. The demand for these services is related to the number of

horses in the area served by the practice, the health needs of these horses, and the willingness

and ability of horse owners to pay for the available services of the equine practitioners. The

willingness and ability to pay for veterinary services is generally related to the income level of

households. Thus, a change in household income of horse owners would be expected to affect

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the demand for equine veterinary services. A brief economic downturn might not have

significant impact on horse owner income, but if the downturn persisted it would be harmful to

the horse owners’ financial health and, in turn, the revenue of equine veterinary practices.

The Current Face of Equine Practice

Of the total number of AVMA member veterinarians in the U.S. in 2017, 60 percent were

female. In the equine veterinary field, there were 47 percent males and 53 percent females

(“Market Research Statistics: U.S. Veterinarians 2017,” 2018). Women are projected to grow to

71 percent of the veterinary workforce by 2030. Women constitute 81 percent of new

graduates, whereas the older workforce nearing traditional retirement age is predominantly

male (AVMA, 2013). This report elucidates the current gender-related data that are changing

the face of equine veterinary practice.

Participation in a year-long internship program after graduation has been identified by the

AVMA Economics Division as a negative factor in career income generation and outcomes for

the general population of veterinarians (Nolen, 2015). In the equine veterinary field, however,

an internship is often considered essential for employment. This study sought to explore the

reasons for this perspective and to describe the competencies that practice owners expect of

new graduate hires.

With starting salaries that lag behind other segments of the veterinary industry, equine

veterinarians with high educational debt raise significant concerns. The debt-to-income ratio

and other parameters of educational debt are explored in this report to outline the current

reality for this younger generation of equine practitioners.

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A 2014 British Equine Veterinary Association (BEVA) study raised concerns about the

occupational danger of an equine veterinary career (BEVA, 2014). Their findings concluded that

equine practitioners carry the highest risk of injury of any civilian occupation in the United

Kingdom. The AVMA-AAEP 2016 Survey of Equine Practitioners offers a view of the physical and

mental wellness of equine veterinarians in the United States.

Like other sectors of private practice within the veterinary profession, the equine veterinary

industry is facing competition from non-veterinary parallel service providers that adversely

affects revenue. These competitors may provide services in fields that were once exclusively in

veterinarians’ purview . Pharmaceuticals are also widely available from sources other than

veterinarians. Some equine owners rely on these alternatives at the expense of traditional

veterinary service providers. This report explores the impact of these parallel service providers

in equine veterinary medicine.

A Diversity of Practices

Equine veterinary practice is unique in that many different sectors exist within the equine

veterinary profession; while many veterinary firms engage in general equine practice, others

concentrate only on a particular discipline such as Western performance, Thoroughbred racing,

or reproduction. This study reports on how the economic results and practice business models

differ between these equine sectors.

Equine practices in the United States vary in size from solo practices to large hospitals

employing more than 10 doctors. Sole proprietorships (practices owned by a single

veterinarian) are the most common entity, consistently representing approximately 40 percent

of the AAEP membership, followed by two-doctor practices. The delivery of care in equine

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practices ranges from strictly ambulatory service to small haul-in clinics to large hospitals

providing advanced surgery and intensive treatment. This report compares and contrasts these

varying business models.

Owners of sole proprietorships, partnerships and equine veterinary corporations must plan the

eventual sale of their practice equity, and some may depend upon this asset to fund

retirement. Many practice owners, particularly sole proprietors, have been shown to lack

confidence in their ability to sell their practice (Grice, 2016). This report surveys respondent

attitudes regarding practice ownership and analyzes other factors that impact practice

transitions.

The Role of Equine Practice in the Economy

Equine veterinarians are an important part of the general economy in some communities,

especially in those areas with a significant equine industry presence. To better understand how

the profession is woven into the economy, an economy-wide impact analysis was conducted for

the equine profession. An input-output analysis was performed using IMPLAN software, a

program that facilitates observing economic linkages between the business under study and

other businesses in the area of analysis. The input-output analysis relies on a specific type of

algorithm that identifies the share of inputs purchased by equine veterinary practices from all

other industries, the share of total output from equine veterinary practices that is consumed by

other industries, and the economic activity created as a result of the expenditures from those

working in and providing services to this profession. The impact analysis in this report

considers how the activities within an economy would differ with, and without, equine

veterinary practices.

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Organization of this Report

This AVMA-AAEP 2016 Survey of Equine Practitioners report is divided as follows: Section I

provides an overview of the state of the U.S. Economy. Section II provides an overview of the

demographics of the equine veterinary medical profession. Section III describes the market for

veterinary education. Section IV offers information on the market for veterinarians. Section V

provides information on the market for veterinary services. Section VI presents a portrait of

equine veterinary practice, and Section VII relates findings from the economic impact analysis

of equine veterinary practices.

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EXECUTIVE SUMMARY

Equine veterinary practice accounts for less than 6 percent of all veterinary private practice

types in the veterinary medical field. Veterinarians identifying as working with equids, whether

in an exclusively or predominantly equine practice, or in a mixed animal practice, are a minority

in the profession. Economic trends in the equine industry, and thus in the equine veterinary

industry, were mostly negative in the years following the recession of 2008. Based upon AVMA

data (2016) it is estimated that the U.S. horse pet population declined between 2011 and 2016,

and the horse population on farms that reported at least $1,000 in annual sales decreased by

10 percent (NASS, 2012). AVMA data also showed a 6.7 percent reduction in the annual income

of equine veterinarians during that same period, while companion animal exclusive

veterinarians saw an increase in annual income of 22.7 percent (Blach, 2015). Analyzing data

gathered about the current state of the equine veterinary industry through the AVMA-AAEP

2016 Survey of Equine Practitioners will allow stakeholders to make informed and more

directed efforts to strengthen the profession.

This study of the economics of equine practice is a joint effort of the AAEP and the AVMA. The

purpose of this effort is to gain an understanding of common and unique attributes of equine

veterinary practices and practitioners compared to the general veterinary profession and to

identify challenges facing the equine veterinary profession so that these issues can be

addressed with maximal effect.

In this report, the following datasets were analyzed:

1. The AAEP membership database was utilized to develop aggregate gender, age and ZIP code

information. This database can be found in the “Demographics “and “Geographic Distribution

of Equine Practitioners” sections of this report. These data are referred to as “AAEP Members”

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in this section of the report. The number of observations in the AAEP membership database

was N=7,432.

2. The AVMA-AAEP 2016 Survey of Equine Practitioners, which comprises survey responses from

AAEP members, is referred to as “AAEP” throughout the report. The number of AAEP

observations (respondents) was N=975.

3. The AVMA’S 2016 Census of Veterinarians, which comprises survey responses from AVMA

members, is referred to as “AVMA” throughout the report. The number of AVMA observations

(respondents) was N=2,545.

4. The combined dataset of AAEP (N=975) and the self-identified equine practitioners from the

AVMA (N=81), is collectively called “Equine.” The number of such combined Equine

observations (respondents) was N=1,056.

Dataset Observations (n)

AAEP Membership database 7,432

AAEP - secondary sample 975

AVMA - comparative sample 2,545

Equine - main sample (81 equine respondents from AVMA + 975 AAEP)

1,056

This report includes information on general economic conditions, demographics, the market for

veterinary education, the market for veterinarians, the market for veterinary services, a portrait

of equine veterinary practice, and an analysis of the impact of equine practices on economic

activity in the United States.

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GENERAL ECONOMIC CONDITIONS

Recent economic data for the United States show a low annual rate of growth. Close analysis of

the Conference Board’s U.S. Leading Economic Indexes reveals that while the United States has

been in an expansion since the middle of 2009, there are some indications that economic

growth may be slowing. Slower growth may limit the demand for veterinary services and result

in reduced veterinary incomes. Another recession may occur within the next several years.

DEMOGRAPHICS OF EQUINE PRACTITIONERS

The descriptive statistics of equine practitioners include the demographic characteristics of age,

veterinary medical college attended, gender, ethnicity, regional distribution, living and work

location, and marital status.

What are the current demographics of the equine veterinary profession in the United States?

Most equine practitioners who responded to this survey graduated from one of the 30 U.S.

AVMA accredited veterinary schools (90 percent Equine, 85 percent AVMA) (Table 2). Of

Equine respondents, approximately 60 percent graduated before 2007, and 40 percent

graduated after 2007 (Figure 9). There was a higher percent of AAEP members over the age of

51 years (43 percent) than Equine respondents (38 percent) or AVMA respondents (26.5

percent) in the same age group (Figure 10). The mean age of all three groups was

approximately 46 years (AAEP Members: 49; Equine: 46; AVMA: 43). The distribution of

respondents across years of graduation suggests that equine practitioners remain in practice

longer than the general AVMA practitioner pool.

Many variables affected the data that were mined by the survey. The group of respondents

ranged in age from veterinarians in their late 20s to those in their 80s. Participants ranged from

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veterinarians with less than one to more than 60 years of clinical experience. The survey results

should be interpreted with these facts in mind, as vast changes have occurred in the equine

veterinary profession, the equine industry, the economy and the culture in the past 60 years.

Of particular note is the age and experience distribution of male and female equine practitioner

respondents. Thirty years ago, women represented less than 10 percent of all equine

veterinarians, while today women comprise the majority of new graduates.

The male and female cohorts in the Equine group were very different. Males had an average

age of 55 years, and an average of 29 years of experience. Many of these Equine males had

more than 40 years of experience as equine veterinarians. In contrast, the average age of the

females was 39 years and they had an average of 12.3 years of experience. Many of the Equine

women veterinarians had less than 10 years of experience (median was 9 years), with almost 60

percent of the female respondents having less than 10 years of experience. The variance in age

and experience between the male and female groups should be borne in mind when

interpreting survey data.

Although females constituted the majority of Equine respondents (58 percent female, 42

percent male) (Figure 11), the inverse relationship between gender and age was notable.

Eighty-two percent of Equine respondents over 60 years of age were male, while 83 percent of

those less than 30 years of age were female (Figure 12). The shifting gender distribution within

equine practice undoubtedly impacted some of the economic differences noted in this report

and may have also had an effect on data involving equine practice ownership. For example, the

differing percentage of male versus female practice owners noted in this report is likely related

to higher numbers of the older (mostly male) Equine respondents acquiring ownership status

due to their longer years in their careers. This ownership gender disparity may change in the

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future as females serve more years in the profession, but there is uncertainty as well about

generational changes associated with risk tolerance and priorities (Figure 1 and Figure 2).

Figure 1: Distribution of Equine Respondents' Age by Gender

Figure 2: Distribution of Equine Respondents' Years of Experience by Gender

0

10

20

30

40

50

20 25 30 35 40 45 50 55 60 65 70 75 80 85 90

# of

Res

pond

ents

Age

Distribution of Equine Respondents' Age by Gender

Male (n=434) Female (n=610)

0

20

40

60

0 5 10 15 20 25 30 35 40 45 50 55 60 65

# of

Res

pond

ents

Years of Experience

Distribution of Equine Respondents' Years of Experience by Gender


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Of the Equine respondents, 65 percent were in exclusively equine practice, 12 percent were in

mixed practice and 10 percent were in academia (Figure 13). Of these veterinarians, 95 percent

were Caucasian (Figure 14). The most ethnic diversity was seen in equine practitioners less than

40 years of age, suggesting that cultural and socioeconomic barriers may be declining for entry

to equine practice (Figure 15).

The United States Postal Service allocates ZIP codes for regions 0-9 in the United States (Figure

16). These regions are not only different geographically but were also found to have significant

differences in past analysis by the AVMA regarding debt, income, unemployment and

underemployment.

Representation of equine practitioners was highest in the West Coast (15 percent) and

Southeast regions (12 percent) of the U.S., while the northern Midwest and central states (both

approximately 6 percent) had the least representation among Equine respondents (Figure 17).

This distribution may be related to a variety of factors such as population density, the

willingness and ability of horse owners to support equine veterinary services, and seasonal

challenges inherent to the equine industry.

The majority of Equine respondents (70 percent) were married, with 22 percent single, 6

percent divorced, and the remainder separated or widowed. These numbers were similar to

those of AVMA respondents (75 percent married, 18 percent single and 6 percent divorced),

suggesting that equine practice marital status is comparable to the veterinary profession at

large (Figure 19).

Higher population density in some areas may play a part in equine practice locations; however,

51 percent of equine practitioners lived in a rural environment, 40 percent in suburban areas,

and 9 percent in cities (Figure 18). Most Equine respondents were happy with their living

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environments, although 17 percent of the suburban dwellers would move to a rural location if

opportunity arose (Table 3).

THE MARKET FOR VETERINARY EDUCATION

The report on the market for veterinary education includes the supply of veterinary education;

the supply of seats at AVMA-accredited schools of veterinary medicine; outcomes of equine

veterinarians following graduation and/or participation in externships, internships and

residencies; expectations of veterinary students/recent graduates before entering the

profession; the most important skills desired by employers; equine veterinary student debt, and

the debt-to-income ratio (DIR) of equine veterinarians.

There are 30 AVMA-accredited veterinary colleges in the U.S., three AVMA-accredited

Caribbean colleges, 16 AVMA-accredited colleges in other countries, and many other non-

AVMA accredited veterinary colleges around the world. Recently, the number of applicants to

veterinary colleges has seen an increase, with 6,667 in 2016; 7,071 in 2017 and 7,507 in 2018

(Figure 20). The expected supply of seats at AVMA-accredited schools is expected to remain

constant at approximately 3,300 seats per year at the 30 U.S. colleges, 490 at the three

Caribbean colleges and more than 500 at the 16 U.S.-accredited foreign colleges (Figure 22).

Since 2000, the number of new veterinarians entering equine practice has declined linearly

from approximately 5 percent to about 1.1 percent in 2017 (Figure 24). More than 81 percent

of AAEP respondents participated in externships while in veterinary school (Figure 26), and

among Equine respondents, 5.7 percent were currently participating in an internship and 47.7

percent had participated in an internship previously (Figure 27). In contrast, the AVMA survey

sample showed only 26 percent of general veterinary practitioners had participated in an

internship, while 74 percent had not. This disparity between equine and general practitioners

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may be a result of the employment climate in equine veterinary medicine, an environment

where most available jobs require an internship or several years of clinical experience.

Internship experience has become a de facto entry requirement to equine practice in many

sectors of the industry.

What factors affect the decision of equine veterinarians to pursue an internship?

Many veterinary students do not have the opportunity to hone their diagnostic and technical

skills during veterinary school due to the high value of many equine patients, a low clinical case

load, and/or client attitudes. As a result, new graduates can rarely be seamlessly integrated into

an equine practice without significant mentoring and skill-building. Practice owners may have

neither the time nor inclination to take on this role, and over time, completion of an internship

has become considered nearly essential for successful employment in the equine veterinary

field. Data from this study show that respondents who completed an internship desired to

improve their clinical skills and practice better medicine. Rather than showing a lack of

confidence, as some have suggested, this may indicate a realization of the limitations of their

training and the need for focused skill building at the commencement of their career (Table 7).

The data show that most internships provided comprehensive and focused training

opportunities through clinical skills acquisition, case rounds, and close mentoring.

Internship responsibilities reported by AAEP respondents included primary on-call emergency

duty with mentoring available (82.1 percent), primary on-call emergency duty with no

mentoring available (16.9 percent), primary client communication (70.1 percent), case rounds

(68.2 percent), overnight treatment duty on a regular basis (60.9 percent), Journal Club (52.7

percent), hands-on procedural rounds designed specifically for learning a skill or technique

(31.6 percent), and radiology rounds (23.6 percent) (Table 8).

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More female Equine respondents (64.3 percent) reported participation in an internship than

Equine males (37.9 percent). In contrast, the AVMA sample reported an approximately equal

percentage of males (23.5 percent) and females (27.6 percent) who had participated in an

internship (Figure 28). Because 40.6 percent of all internships reported by Equine respondents

have been completed in the last five years (AVMA 29.5 percent), the markedly increased

percentage of females in this cohort may explain the apparent gender difference in

participation rates in the Equine dataset (Figure 29).

Equine respondents from graduation years 2012-2016 reported an average annual internship

stipend of $26,915 while AVMA respondents from the same graduation years reported an

average internship salary of $29,174 (Table 10). About one-third of AAEP respondents reported

receiving free housing as a part of their compensation package (Figure 32). Over time, the

number of benefits received by interns has increased, as has the percentage of interns receiving

them. In the past five years, 65.5 percent of AAEP interns reported receiving health insurance,

71.4 percent professional liability insurance, 75.6 percent continuing education expenses, and

75 percent professional licenses and association dues (Table 14).

Except for improving their understanding of business management, the majority of Equine

respondents reported that their expectations of their internship were met well to extremely

well (Figure 39). Fully three-quarters of respondents would participate in the same internship

again if given the option (Figure 40).

Many equine practices have created business models that rely upon the skills of interns to

provide after-hours evaluation of patients in hospital and ambulatory settings at a cost that is

less than that of employing experienced veterinarians. This mutually beneficial paradigm allows

older doctors to experience the satisfaction of teaching and mentorship while experiencing a

financial benefit and allows new graduates access to experienced practitioners’ clients and

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patients while benefiting from the experience of their employers. The employer gives of their

time and knowledge. The intern trades their hard work for valuable education and access to

experiences that they might otherwise not have the opportunity to share.

Of Equine respondents, 20.9 percent reported participation in a residency program at some

point during their veterinary career, compared to 13.0 percent of AVMA respondents (Figure

41). Of Equine respondents who desired to pursue a residency, over three-quarters either

completed a residency or at the time of the survey were participating in one (Figure 42).

Ninety-five percent of these residencies were in academic settings with just a few in private-

referral settings (Figure 46). Participation in residencies showed an increasing incidence from

2005 to 2014 for both Equine and AVMA respondents, followed by a sharp decline (Figure 43).

Surgery (44.3 percent), Internal Medicine (28.5 percent) and Theriogenology (11.8 percent)

were the most common specialties reported by Equine respondents (Table 20).

An inverse relationship was noted between graduation year and Equine respondents’

perception of how well their veterinary school education prepared them for practice. Among

the Equine respondents, 51.4 percent of those who graduated in 2012-2016 were satisfied

“moderately well,” “not too well” or “not well at all” with their veterinary education, compared

to 39.3 percent of AVMA respondents. Eighty-nine percent of Equine respondents who

graduated in 1967-1976 reported that their education prepared them “very well” to “extremely

well.” This percentage dropped in a linear fashion, with only 48.5 percent of Equine

respondents in graduate years 2012-2016 reporting the same (Figure 48). This trend line

parallels the variation in respondent mental health found in this study, with a linear decline in

overall mental health with more recent graduation (Figure 122). Factors that may contribute to

the decreased satisfaction with educational preparedness could include markedly increased

amounts of information that must be learned during the four years of veterinary school

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curriculum, fewer opportunities to see clinical cases due to the proliferation of private-referral

hospitals, licensing requirements to be competent in all species, and declining emphasis on

equine skills as the equine population has dropped. There was, however, no data collected in

this survey to capture reasons for the decline in educational satisfaction.

AAEP respondents opined that the entry level clinical skills considered essential to enter the

profession included the ability to: diagnose and treat a foot abscess (90.6 percent), repair

simple lacerations (90.4 percent), work up, treat and make recommendations for a colic case in

the field (88.7 percent), and perform physical and ophthalmic exams (87.6 percent). Diagnosis

of uncomplicated lameness with diagnostic nerve blocks, obtaining radiographs of limbs, setting

up preventative health protocols, and placing intravenous catheters and subpalpebral lavage

systems were expected as entry level skills by more than 80 percent of respondents. Over 70

percent of AAEP respondents also expected new practitioners to be able to remove shoes,

perform basic dental procedures, perform castration on a recumbent patient under general

anesthesia, and complete routine reproductive procedures such as a Caslicks and uterine

culture. Over 60 percent expected new practitioners to be able to induce and recover a patient

in the field with intravenous anesthesia, ultrasound a mare to diagnose a singleton pregnancy

at 16-18 days post ovulation, and obtain samples from or inject substances into synovial

structures such as joints or tendons. Skills in more advanced imaging, diagnostic sampling and

surgery were expected by less than half the respondents (Table 22). Expectations for the

specific entry level clinical skillset differed between respondents who had been in practice for

more than 20 years and those in practice for fewer than 20 years (Table 23).

AAEP respondents were also asked to rank 10 workplace competencies on a scale of one to 10

for their importance for new associates (Table 24). In general, people-skills ranked higher than

organizational, technical or writing skills. People-skills were cited as the most important

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competency by 63.9 percent, followed by client communication (21.2 percent), and customer

services skills (4.8 percent).

AAEP membership data show that many young veterinarians fail to renew their AAEP

membership four years from their graduation date from veterinary school, and that the trend is

slowly increasing (Figure 49). Starting with the Class of 2000, almost 40 percent of former AAEP

members dropped their membership within four years of their graduation date. Of the Equine

respondents who were currently not employed in equine medicine and reported the number of

years they were employed as an equine veterinarian in their first job, 67.4 percent were in the

equine profession from zero to five years after graduation, 14.6 percent six to 10 years, 5.6

percent 11-15 years, and 12.4 percent 16 years or more (Figure 50). When the 89 respondents

who reported leaving the equine veterinary sector were analyzed by graduation year, 100

percent of respondents who graduated within the last five years and subsequently left equine

practice did so within five years of graduation, followed by 91.3 percent from 2007-2011, and

27.8 percent from 1987-1996 (Figure 51).

What factors affect starting salaries for equine veterinarians?

Starting salaries in the equine veterinary field lag behind those offered in other types of private

practice. AVMA respondents reported higher post-internship salaries than Equine respondents

on average, except for male Equine respondents who graduated in the period 2012-2016; these

graduates reported an average starting salary of $61,867 compared to AVMA males who

reported $61,810 (Table 15). In contrast, female Equine respondents who graduated from

2012-2016 reported an average starting salary of $51,109 compared to AVMA females who

reported $70,452.

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Associate veterinarians starting their careers in equine practice face several challenges.

Because of the high dollar value of many of the horses that they encountered as patients in

veterinary school, many were not allowed the opportunity to practice hands-on clinical skills,

communicate with owners, or develop independent case management abilities. Data show that

survey respondents value a comprehensive list of entry level skills that many job candidates

may not possess (Table 22 and Table 23). In addition, horse owners are frequently very bonded

to a specific veterinarian and are often reluctant to allow care by a new doctor.

These realities create an environment where new associates have difficulty producing sufficient

production revenue to support robust starting salaries. Many of these young doctors struggle to

produce sufficient income to support the total cost of their compensation for several years, if

not longer. Most practice management resources indicate that the total cost of compensation

(including salary, benefits, payroll taxes, etc.) for associate veterinarians should not exceed 25

percent of collected gross revenue production. When equine practice owners determine

starting salaries for new graduate associates, they must determine how much of their profit

they are able and willing to invest in mentoring these young veterinarians during that period

until they can become self-supporting within the practice.

If a new graduate was able to bring in personal gross service revenue from production of

$200,000 in their first year of employment after internship, the Equine female respondent’s

average salary of $51,109 would represent 25.5 percent of revenue, even without considering

the additional costs of employment. The Equine male respondent’s average starting salary of

$61,810 would represent 30.9 percent of production before considering other relevant

expenses.

The study data indicate that the median personal gross revenue from production for practice

owner Equine respondents was $385,832, and the mean personal gross revenue from

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production for associates was $356,500. For AVMA respondents, the median personal gross

revenue from production was $500,000 for owners and $450,000 for associates (Table 156).

Among those in their first five years of practice, the median personal gross revenue for Equine

respondents was $300,000 and for AVMA respondents was $410,000 (Table 157).

With the current sluggish growth or outright contraction of the equine industry (dependent on

geographic region) , there is also less growth in demand for services. Mature practitioners

wishing to prepare for a transition out of practice often must transfer some of their own work

(and the associated revenue production) to younger associates to create an exit strategy. In

some cases, there may simply not be enough revenue produced to support two veterinarians,

but orderly transition and emergency coverage demand the addition of another practitioner.

Under these conditions, robust starting salaries are often impossible.

The gender disparity in starting salaries after internship for Equine respondents in the last five

years is approximately $10,000, or 16.2 percent lower for females (Table 15). This negative

finding reflects the broader issue across industries that also find a gender wage gap between 8

percent-20 percent in the United States (Graf, Brown, and Patten, 2018). Scarcity increases

perceived value; in equine veterinary medicine, this disparity among recent graduates may

arise in part because of the low numbers of males entering the profession compared to

females. In addition, 60 percent of current equine practice owners are male, which may

influence their decision to hire male associates over females, a decision that could be based on

the status quo bias (the tendency for people to like things to stay relatively the same), resulting

from the exposure effect (the tendency for people to like things merely because they are

familiar with them). Gorman (2005) has looked at many aspects of gender-related stereotypes

on work environment. The data report that, on average, Equine male respondents add an

additional $477,929 to revenue while Equine female respondents add an additional $346,638;

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this disparity may also be influencing the gender wage gap identified (Table 158). However, it is

critical to note that the average age of male versus female respondents is 55 years versus 39

years, respectively, and so the average revenue increase is likely being influenced by experience

and skills gained over time.

What factors affect the debt of equine veterinarians?

Data show that the educational debt of new equine veterinarians is lower than those entering

other types of practice. Average educational debt of all AVMA graduates was $142,732 and

those entering equine practice was $131,325 in 2016 (Figure 54). This difference may be due to

students who are interested in equine practice having awareness of the lower starting salaries,

and subsequently making more careful financial choices. It is also possible that it is more

affluent students who are choosing equine practice. The data show that about 30 percent of

graduates who entered equine practice had no debt, compared to about 20 percent who

entered companion animal practice.

More than two-thirds (70.8 percent) of Equine respondents incurred debt from their veterinary

medical education (AVMA: 79.2 percent). Overall mean student debt from post-secondary

education of Equine respondents for all graduating years was $92,918 compared to AVMA

respondents who reported an average of $114,202 (Table 27). The average debt among Equine

respondents who graduated within the last five years was $168,710. The average debt among

Equine respondents who graduated 6-10 years ago was $125,374. From 2001 to 2015 mean

student veterinary debt of new grads has more than doubled (Table 29).

The mean educational debt of the 437 Equine respondents who did internships ($109,865) was

considerably higher than the 326 equine graduates who did not ($70,201) (Table 31). It is

uncertain why this would occur. It is possible that graduates of veterinary schools with higher

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tuition and attendance costs are more likely to pursue internships. However, the 139 Equine

respondents who undertook residency training reported lower mean student debt than those

who did not pursue specialty training. One explanation is that those planning a residency

training were exceptionally frugal or perhaps had more financial support from their families.

There is an increasing gap between student debt totals and average professional income. Most

Equine graduates had little to no pre-veterinary student debt (33.1 percent and 61.3 percent,

respectively) (Figure 55). This was true no matter what decade they graduated in (Figure 56).

However, 70.8 percent of Equine respondents reported that they incurred debt during

veterinary school, and 53.5 percent of these veterinarians reported they were still paying off

debt. Of those still paying on educational debt, 13.2 percent said that more than 30 percent of

their compensation was used to service debt. An additional 12.2 percent reported that they

were utilizing 21-30 percent of their compensation toward debt, with an additional 23.5

percent of respondents who reported spending 11-20 percent (Figure 57). Of those who

graduated within the last 10 years, the mean percentage of compensation used to repay

educational loans was 20 percent (Table 28).

How does the Debt to Income Ratio (DIR) of equine vets compare to other veterinarians?

The gender weighted average DIR of new veterinarians who work full time in equine medicine

was 2.48 (median was 2.10) in 2016. The weighted average DIR of all new veterinarians working

full time in 2016 was 1.71 (median was 1.62) (Table 43). According to financial professionals,

the level of debt-to-income that can be serviced in professional fields without posing serious

financial stress is 1.4:1.

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THE MARKET FOR VETERINARIANS

The AVMA/AAEP survey queried respondents on their professional income and benefits. The

results were used to assess the net present value of an equine veterinary professional

education. Employment status and work schedule were determined, and respondents were

asked to rate their satisfaction with their current position, working hours, on call

responsibilities, income, and geographic location. The section had multiple questions on health

and wellness. Respondents rated their physical and mental health, and provided historical data

about work related injuries, including the effect of injury on their work and daily activity. The

section concluded with the ProQOL survey instrument, a standardized set of questions designed

to measure three subscales of wellbeing: compassion satisfaction, burnout and secondary

traumatic stress.

The data were evaluated for statistical significance and trends relating to respondent gender,

age, year of graduation, veterinary college, and level of education. Additional filters included

participation in internship or residency, board certification, income level, and whether the

respondent was a practice owner, practice associate or an employee at a university or other

institution. The specific practice sector and geographic location that each respondent worked in

was examined, as was the business model and size of their workplace.

Income and the Gender Gap

Mean professional income for Equine respondents was $99,000 annually, with practice owners

reporting $118,000 and associates reporting $78,000. In comparison, AVMA respondents had a

mean income of $112,000, with $159,000 reported for practice owners and $90,000 for

associates (Figure 59). Income levels were noted to rise in a roughly linear fashion with years of

experience; equine veterinarians who had been in the workplace less than five years reported

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the lowest mean incomes while those who had 30 or more years of experience had the highest

(Table 45).

Practice ownership had a statistically significant impact on professional income (p-value <.001)

among both the Equine and AVMA respondents. Mean annual income reported for practice

owners and for non-practice owners differed by about $40,000 for Equine respondents and

about $69,000 for AVMA respondents (Table 52). Participation in an internship was associated

with lower mean income levels among peer graduation years (Figure 62), but board

certification was associated with higher mean income levels (Table 53). Employment in the

racing, reproduction or performance horse sectors was also associated with higher income

levels (Table 54).

Separating mean income by gender, in all comparisons the mean income of male respondents

exceeded female respondents. Female Equine practice owner respondents had a mean income

that was $55,000 less than male owners ($85,000 female vs. $140,000 male). Among AVMA

respondents, male owners had $66,000 more in mean income ($186,000) than their female

counterparts ($120,000). A $24,000 difference between male and female Equine respondent

associates, and a $15,000 difference between male and female AVMA respondent associates

were measured. Again, it is essential to recall the age and experience differences between the

male and female cohorts when observing these data (Figure 59).

For both Equine and AVMA respondents, the difference in mean income between genders was

large and statistically significant (Equine: p-value <.001; AVMA: p-value <.001) (Table 49). The

highly significant wage gap that was noted between male and female respondents was

calculated by multiple linear regression analyses to be about $30,000 for Equine respondents

and $50,000 for AVMA respondents (Table 55). It must be noted that the male Equine

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respondents had a mean of 29 years of experience versus the female Equine respondents, who

had a mean of 12.3 years of experience in this sample.

While it is impossible to know with certainty why this gap exists, according to data that look at

the general population, a wage disparity of 20 percent is observed (Graf, Brown, and Patten,

2018). According to the Pew Research Center, the gender gap in pay has narrowed since 1980,

particularly among younger workers, it still unfortunately persists. In 2015, women earned 83

percent of what men earned, according to a Pew Research Center analysis of median hourly

earnings of both full- and part-time U.S. workers. Based on this estimate, it would take an extra

44 days of work for women to earn what men did in 2015. By comparison, the U.S. Census

Bureau found that women earned 80 percent of what their male counterparts earned in 2015

when looking at full-time, year-round workers only. However, for adults ages 25 to 34, the 2015

wage gap is smaller. Women in this group earned 90 cents for every dollar a man in the same

age group earned (Graf, Brown, and Patten, 2018).

Factors that may also contribute to the wage gap in veterinary medicine, particularly in equine

practice, include the variance in number of years of experience between males and females

(male Equine respondents had a mean of 29 years of experience versus the female Equine

respondents, who had a mean of 12.3 years of experience in this sample). According to AAEP

leadership, there may be a perception that females produce less revenue for a practice than

equivalently experienced males, for a variety of reasons. Possible contributors to these

perceived reasons may be family responsibilities, confidence, or efficiency. In addition, in recent

years some leaders in the equine veterinary industry have observed there seems to be a strong

trend in the marketplace for new graduates to start out at a practice as an associate and then

start a solo practice on their own without sufficient knowledge of business. Unsure of how to

set prices but eager to build their client base, they may charge reduced prices or may comply

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with unreasonable requests to work pro bono. It is postulated that due to geography, cases

cannot always be seen in the most efficient manner and instead these veterinarians may feel

compelled to give phone advice for free. In addition, solo practices may struggle to afford

diagnostic equipment that is not used every day but is essential to meet client expectations.

Profitability (and thus income) could be adversely affected by these factors. These factors may

contribute to the reported lower earnings for females, who make up the majority of recent

graduates.

Mean income of the AAEP respondents was shown to vary by size of practice, with those

employed in larger practices earning more than those employed in smaller practices (Figure

61). Data showed that veterinarians who worked in academia reported higher mean incomes

than those in private practice. AVMA respondents who worked in Industry reported the highest

incomes (Table 50). When the distribution of mean income of Equine respondents who

participated in an internship and those who didn’t was plotted by graduation year (Figure 62),

there was very little difference in mean incomes reported by graduates in recent years. There

was nearly $30,000 more income reported by Equine respondents with residency training

compared to those who did not complete a residency (Table 48).

For both the Equine and AVMA sample, the variation in mean incomes between the 10 regions

was substantial (Table 51). The region with the highest mean professional income in the Equine

sample was Region 4 ($115,410). Kentucky is located in Region 4, and Lexington, Ky., is known

as the “Horse Capital of the World” because it is heavily populated with horses and large

Thoroughbred breeding operations. Region 5 had the lowest reported Equine mean income at

$83,640. The mean income that veterinarians reported they earned was statistically significant

(p-value = .011). with respect to the primary equine sector served.

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What benefits are offered?

More than 75 percent of Equine respondents received the benefits of continuing education

expenses, licensure, liability insurance, and association dues. A little over 60 percent were

granted discounted veterinary care and continuing education leave. Health insurance (52.8

percent) and paid vacation (51.4 percent) were received by a little more than half of Equine

respondents. Less than 10 percent were granted paid maternity or paternity leave (Table 56).

Do equine veterinarians have retirement assets?

Among AAEP respondents, 63.8 percent reported having assets for retirement. The primary

asset reported was a combination of assets (36.2 percent) followed by a 401(k)/Keogh/IRA fund

(31.3 percent) (Table 58). Nearly 80 percent reported having a 401(k)/Keogh/IRA account (Table

59). Nearly 29 percent of these respondents indicated they were either very or extremely

confident in their financial preparation for retirement, while 34.5 percent indicated they were

not very or not at all confident, and 36.8 percent of respondents were moderately confident.

Are equine veterinarians having families?

Regarding family status, just over half of the Equine respondents (52.1 percent) indicated they

had children during their professional career. Another 31.4 percent of respondents reported

that they did not have children, nor did they plan to have children during their professional

career, while 16.5 percent of respondents did not currently have children but plan to have

children in the future during their professional career (Figure 64). With regard to available

maternity or paternity leave, 40.1 percent of Equine respondents had no maternity/paternity

leave offered, and 31.8 percent had one-two months (Figure 66). Of those with leave, 41.2

percent of respondents reported that none of the maternity or paternity leave was eligible for

compensation, and 34.6 percent reported one-to-two months of leave was eligible for

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compensation (Figure 67). Almost three-quarters of AAEP respondents perceived that policy

relating to maternity or paternity leave was not well addressed in their employment contracts

(Figure 70).

What is the Net Present Value (NPV) of a veterinary degree?

Net present value (NPV) of the DVM/VMD degree is a key performance indicator for the

profession as it provides an indication of the willingness of society to compensate veterinarians

for the investment in the DVM/VMD degree. The NPV provides the current value of the lifelong

earnings of the veterinarian above what they would have earned had they not obtained their

DVM/VMD degree.

Net present value is the difference between the present value of cash inflows (income) and the

present value of cash outflows (expenses). Thus, in examining the NPV of a veterinary

education, one would look at the present value of the expected cash flow from being employed

as a veterinarian over the course of the career minus the present value of the investment in

earning the veterinary degree. If the NPV is positive, then the investment yielded more inflow

than outflow. In the model presented here, the veterinary degree is compared with the

bachelor’s degree to determine whether the additional investment in the DVM/VMD is borne

out by equivalently increased cash inflows over the course of the career.

The NPV has been declining in the general veterinary profession since 2010. The primary

reason for the declining NPV is increasing opportunity costs: Starting salaries for bachelor’s

degree holders grew more than 19 percent during this time, whereas starting salaries for the

DVM/VMD degree holders grew approximately 5.5 percent. If the earnings gap between

DVM/VMD and bachelor’s degree holders continues to narrow, veterinary students may begin

to view the DVM/VMD degree as not worth the price of admission to the veterinary profession.

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The decline in the NPV for men has been much steeper than for women and this may be a

contributing factor to the changing gender distribution in the profession. Males have a much

larger opportunity cost3 to become a DVM than do women, as the difference between mean

veterinary income and the mean income of a general bachelor’s degree recipient is

substantially less for men than for women (Figure 72 and Figure 73). Table 62 shows the income

levels that would be necessary for each group to enter a positive NPV range relevant to the

amount of debt carried. The report stated that small increases in annual income (around

$2,000) could potentially offset large increases in debt (up to $50,000), and have a strong

influence on the NPV of the equine veterinary degree.

Employment Status and Hours Worked

Slightly more than four-fifths (80.5 percent) of Equine respondents reported employment in

clinical veterinary medicine (AVMA: 67.0 percent); 11.4 percent were employed but not in

clinical veterinary medicine (AVMA: 23.6 percent); 6.6 percent were retired (AVMA: 6.0

percent); and 1.5 percent were unemployed (AVMA: 3.4 percent) (Table 63). Of the Equine

respondents who were not practicing in clinical veterinary medicine, approximately 71 percent

were in professor roles (AVMA: 26.1 percent) and 24.7 percent in an academic clinician position

(AVMA: 19.4 percent), followed by 2.2 percent of respondents who were managers (AVMA: 21

percent), and 2.2 percent in another type of field (AVMA: 26.8 percent) (Table 64).

Among employed equine practitioners a wide variation of hours worked per week was

reported; the majority worked between 40-60 hours, which exceeded the average work hours

reported by the AVMA group (Figure 74). The mean hourly reported work week for Equine

respondents was 54.9 hours for males and 56.6 hours for females with the majority (60.4

3 The opportunity cost refers to the l ifetime income-earning potential had veterinarians pursued an alternative career prior to entering veterinary college.

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percent) between 40 and 60 hours per week. For the AVMA survey respondents, the mean

hourly work week was 48.5 hours for males and 45.9 hours for females, with the majority (68.0

percent) of AVMA respondents between 40 and 60 hours per week (Table 65). Near all of male

(89.5 percent) and female (89.4 percent) Equine respondents reported working more than 40

hours a week. By comparison, 80.8 percent of male AVMA respondents and 78.3 percent of

female AVMA respondents reported working more than 40 hours a week (Figure 74).

Among those in clinical veterinary medicine, 94.6 percent of Equine respondents reported

working full time and the remaining 5.4 percent were employed part time. In the AVMA

sample, 89.0 percent were employed full time and 11.0 percent were employed part time in

clinical veterinary medicine (Figure 75).

On average, Equine respondents employed full time worked 10 emergency hours during a

typical week, compared to 7.1 hours for full-time AVMA respondents (Table 67). Almost one-

third (32.6 percent) of AAEP respondents working full time reported that they performed 26

percent to 50 percent of the total amount of on-call or emergency duty at their place of

employment, and 24.9 percent reported that they were responsible for 100 percent of this duty

(Figure 80). The data reflect the high number of solo or small (two to three DVM) practices in

the equine veterinary industry. Among 72 solo practitioner respondents, 46 (63.9 percent) were

on call or performed emergency duty 100 percent of the time. Not surprisingly, the higher the

number of full-time equivalent (FTE) veterinarians at the place of a respondent’s employment,

the more likely respondents reported lower on-call/emergency duty percentages (Figure 81).

Satisfaction with employment

Survey data showed that Equine respondents tended to be more satisfied with their work than

AVMA respondents. Male Equine respondents reported higher satisfaction levels than female

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equine respondents. Of female Equine respondents, 34.3 percent were moderately, not too, or

not at all satisfied, while 65.7 percent were very or extremely satisfied (Table 74). Higher

satisfaction levels were reported in older graduates as their years of experience increased

(Table 76). The high debt levels and low salaries of those who have graduated more recently

undoubtedly impact satisfaction with employment. In addition, differing priorities of different

generations may also drive these findings.

Regression analysis showed that respondents who were practice owners, those with higher

incomes and those who “felt well prepared by their education” were significantly likely to

report high levels of job satisfaction while respondents who had participated in a residency

reported less job satisfaction (Table 80). Equine respondent practice owners were much more

satisfied than Equine respondent associates. Many more Equine respondent practice owners

(49.4 percent) reported that they were extremely satisfied with their employment than Equine

associates (20.2 percent). Among AVMA respondents, 45.2 percent of owners were extremely

satisfied versus 15.4 percent of associates. More than 40 percent of associate respondents in

both the Equine and AVMA samples reported being not at all satisfied to moderately satisfied

with their employment (Table 78).

More than one-third of Equine respondents have been with their current employer for less than

five years, less than 20 percent for six to 10 years, and about 40 percent for more than 10 years

(Figure 82). AAEP respondents were asked if they were likely to remain employed at their place

of employment over the next five years. The majority of AAEP respondents reported that it was

veryto extremely likelythat they would stay at their current job over the next five years (Male:

72.9 percent; Female: 66.3 percent) (Figure 83). A sizeable group of AAEP respondents,

however, reported they are moderately likely to not at all likely to stay employed within the

next five years at their current employment (Male: 25.7 percent; Female: 31.2 percent). When

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the likelihood of staying at their current job over the next five years is shown with respect to

graduation year (Figure 84), 42.8 percent of AAEP respondents revealed that they are not at all

likely to moderately likely to want to stay at their job if they entered the veterinary workforce

within the last five years. The reality of equine practice (long work weeks, additional

responsibility of emergency duty, low salaries compared to other sectors of practice) and

educational indebtedness may be driving this dissatisfaction of newer graduates. However, it is

notable that when Equine respondents were asked would they change to a different veterinary

sector if they could, 83.3 percent indicated they would not (AVMA: 71.8 percent).

In both the Equine and AVMA sample, those who graduated more recently indicated that they

preferred a larger workplace. The percentage of respondents who reported this preference

increased in a linear fashion with decreasing level of experience (fewer years from graduation)

(Figure 93). This finding may follow the Millennial preference for collaboration and teamwork.

Having grown up in an environment that fosters teamwork, most Millennials like working in

groups and highly prefer a sense of unity and collaboration over division and competition. They

look for support and reassurance among their peers and are a highly social generation (Yingling,

n.d.).

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Retirement

At the time this survey was conducted, 60 Equine respondents (6.6 percent) and 152 AVMA

respondents (6.0 percent) were retired. 72.9 percent of these Equine respondents retired in the

past five years (Figure 95). Respondents were asked about retirement decisions. Both samples

revealed that most respondents retired from clinical veterinary medicine on or around their

anticipated timeframe. However, while 50.8 percent of Equine respondents retired on or

around their anticipated timeframe (AVMA: 71.8 percent), 32.2 percent retired from clinical

veterinary medicine earlier than anticipated (AVMA: 18.5 percent) (Table 83). The two highest

ranking reasons for retiring early from equine clinical veterinary medicine were “improve work-

life balance,” and “stress level” (Table 84).

Unemployment and Underemployment

In 2015, 2.4 percent of Equine respondents were unemployed in clinical veterinary medicine at

some point in that year. Of the 2.4 percent respondents who reported unemployment, 35.3

percent of them found a job within one month, 29.4 percent found a job between three to six

months after beginning a job search, and 35.3 percent found work within a year.

Underemployment is defined as the measure of a person’s desire and ability to increase one’s

hours spent working. The desire and ability to increase one’s working hours is often

unattainable due to a lack of demand for one’s services. In this survey, underemployment

represents the number of additional hours that veterinarians desire to work above what they

are currently working. Measured in total hours, underemployment reflects the increase or

decrease in weekly hours that one wishes to work for an equivalent increase/decrease in

compensation.

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Among Equine respondents, 60 percent stated they would work the same number of hours per

week as they are currently working with no change to their current level of total compensation

(AVMA: 65.8 percent), 16.8 percent wished to work more hours per week than they do now, for

a higher level of total compensation (AVMA: 12.0 percent), and 23.2 percent wished to work

fewer hours per week for a lower level of total compensation (AVMA: 22.2 percent) (Figure 99).

By gender, 25.3 percent of female (AVMA: 23.9 percent) and 19.9 percent of male (AVMA: 18.6

percent) Equine respondents wished to work fewer hours for less compensation. In contrast,

16.5 percent of Equine sample females (AVMA: 12.5 percent) and 17.7 percent of Equine males

(AVMA: 11.7 percent) wished to work more hours for greater compensation (Figure 100).

Of the Equine respondents who desired to work more hours, the mean number of additional

hours desired was 19.7 hours (AVMA 18.9 hours). Reasons that Equine respondents gave for

wanting to work more hours a week were the desire to gain professional expertise (14.7

percent), not currently working to capacity (42.2 percent), the desire to earn more

compensation (82.6 percent), or other reasons such as paying off student loans, providing

better service to the community, satisfying needs of the client, and social benefits (4.6 percent).

The Equine respondents who desired to work fewer hours wanted to lessen their work week by

16.4 hours (AVMA: 14.9 hours) and cited the need to improve work-life balance as the main

reason they want to work less (77.3 percent), followed by taking care of children/childbearing

(Table 89).

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How is the physical and mental health of equine practitioners?

The survey asked a number of questions relating to respondents’ physical and mental health,

history and severity of on the job injuries and chronic pain, and how respondents felt these

factors affected their productivity.

Approximately 90 percent of AAEP respondents of both genders reported their physical health

as good to excellent. Just over 90 percent of the male respondents reported their mental health

as being in good to excellent condition, and 76.6 percent of the female respondents reported

their mental health being in good to excellent condition. 9.2 percent of AAEP males and 18.7

percent of females reported their mental health to be in fair condition, and 0.7 percent of

males and 4.6 percent of females reported their mental health as being in poor to very poor

condition (Figure 118). Thus, nearly one-quarter of female AAEP respondents reported their

mental health to be fair to very poor. The reasons for these disparities must first be viewed

through the lens of the differing profiles of the respondents: males had an average age of 55

and an average of 29 years of experience versus females with an average age of 39 and an

average of 12.3 years of experience. In addition, the burdens of high educational debt and low

starting salaries borne by recent graduates, along with the stressful lifestyle of equine practice,

are undoubtedly factors in decreased mental health.

AAEP male respondents reported more limitations on their daily activity from physical health

than females, while females reported more limitations from mental health. Among the AAEP

members surveyed, 43 percent of male respondents and 40 percent of females reported that

their physical health limited them in some degree from meeting the demands of their job or

daily life (Figure 123). Vigorous activity was limited more than moderate activity for both

genders (Figure 127 and Figure 128). There was a general linear trend of activities, especially

vigorous, being more limited in practitioners of advancing age, though most respondents with

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up to 50 years of experience reported that moderate activity was not limited at all by their

health (Table 92).

Nearly one-quarter of AAEP males reported that their mental health limited them a little to a

great deal in meeting the demands of their job or daily life, while 42.5 percent of AAEP females

reported their mental health affected their ability to meet the demands of their job or daily life

a little to a great deal. However, most respondents reported no limitation (Figure 123). AAEP

graduates from the last 10 years reported higher levels of negative effects of their mental

health on their work and accomplishments in the four weeks prior to the survey than other

experience cohorts (Table 96).

Work Injuries

Nearly four-fifths of AAEP respondents reported they had been injured while performing work

as a veterinarian. Of the respondents who reported work injuries that caused them to miss

work, most (53.0 percent) reported two to four injuries over the course of their career (Figure

125). Out of the 764 respondents who were injured at some point during their career and who

answered this question, 48.0 percent did not miss work due to a work injury for at least one of

the injuries they reported having, 36.7 percent indicated no more than seven days of work

were missed, 10.7 percent no more than 30 days, 4.7 percent no more than 90 days, and 3.4

percent more than 90 days. A small number (2.1 percent) indicated they sustained a permanent

disability from an injury that occurred while practicing veterinary medicine (Figure 124). Slightly

more than 16 percent of AAEP respondents reported being hospitalized and 20.3 percent

reported having surgery for a work-related injury. Equine veterinarians commonly continue to

work despite injuries. This may be related to the high numbers who are solo practitioners, who

may feel they have no choice but to continue to produce revenue and provide services to their

clients. Many multi-doctor practices have limited capacity to take on the work of an injured

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coworker without increasing the already robust average number of hours worked each week.

Equine practitioners likely feel a strong responsibility to not only continue to care for their

patients, but to not unduly burden their fellow veterinarians.

AAEP respondents were asked how much bodily pain they had experienced during the four

weeks prior to completing the survey, as well as the degree to which pain had interfered with

their normal work, including both their work outside the home and their chores in daily living.

While two-thirds of male and female AAEP respondents reported mild or very mild pain, 23.8

percent of males and 16.5 percent of females reported moderate pain, and 2.6 percent of

males and 2.3 percent of females reported experiencing severe or very severe pain. About half

said the pain did not interfere at all with normal work. Most of the rest reported a small

amount of interference. A minority of respondents reported a lot of interference (Table 97).

While equine practice is quite a physical career, and injuries are not uncommon, equine

practitioners are clearly tough individuals, and persist despite chronic pain.

Professional Quality of Life (ProQOL) Measures

Professional Quality of Life (ProQOL) (Stamm, 2010). Questions were included in the AVMA-

AAEP 2016 Survey of Equine Practitioners to investigate the effect that expending compassion

during work as a veterinarian has on the practitioner’s well-being. Responses to the ProQOL

questions are scored based on the responses of thousands of individuals across many different

occupations.

The ProQOL application is used to measure compassion satisfaction, burnout and secondary

traumatic stress associated with helping others who have experienced suffering. Compassion

satisfaction is about the pleasure someone derives from their work. An individual might, for

example, feel like it is a pleasure to help others through the work that he or she does, and

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might feel positively about colleagues, or his or her ability to contribute to the work setting or

the greater good of society by working with people who need care. On the other hand, negative

feelings derived from work is measured by scoring burnout (exhaustion, frustration, anger,

depression) and secondary traumatic stress (work-related mental trauma).

Mean compassion satisfaction scores for Equine respondents (Figure 131) were in the high-

normal range, and Equine respondent scores for burnout (Figure 132) and secondary traumatic

stress (Figure 133) were in the low-normal range. On average, Equine respondents had scores

that were a bit better than the AVMA cohort (higher for compassion satisfaction and lower for

burnout and secondary traumatic stress). A linear trend was seen for compassion satisfaction

across graduation year cohorts with the older graduates reporting higher scores than recent

graduates (Table 99), and a linear trend was seen for burnout and secondary traumatic stress

across graduation year cohorts with the older graduates reporting lower scores than recent

graduates (Table 109 and Table 119). The mean sum of burnout scores was 2.2 points lower for

Equine than AVMA, and in the low-normal (better) end of the results reported across all

professions. However, 5.8 percent of Equine and 9.2 percent of AVMA respondents had

burnout scores over 35, indicating the need of intervention (Figure 132). The data showed that

females had higher burnout (Table 110) and secondary traumatic stress scores (Table 120), and

lower compassion satisfaction scores than males (Table 100). Based on the demographics of the

Equine cohort, this was not unexpected. Female practitioners are mostly those with fewer years

of experience, have high educational debt, earn low salaries, and are less likely to be practice

owners. The data showed that practice ownership, higher incomes, and increased years of

experience were associated with better scores, and debt was associated with less positive

scores.

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The survey section on the veterinary market concluded with questions relating to well-being

that were specific to the equine sector of veterinary medicine. The survey broke down

respondent answer trends by gender. Questions relating to feeling satisfied when learning new

information or skills, or noting a positive patient outcome tended to have similar positive

ratings from male and female respondents. Questions relating to the level of stress felt while on

call, or handling multiple priorities, or feeling exhausted or irritated while on the job tended to

have different ratings between genders, with females indicating higher levels of stress,

irritation or exhaustion than males (Table 129).

THE MARKET FOR VETERINARY SERVICES

The report on the market for veterinary services includes information on the supply of equids in

the United States, private practice equine veterinary services, and the demand for equine

veterinary services. Many factors drive the market for equine veterinary services. As the

demand for veterinary services increases, the price of veterinary services increases in parallel,

other things being equal. Conversely, a decline in the number of clients, animals per client, or

services demanded per animal will typically reduce the demand for veterinary services and thus

the overall revenue of equine veterinary practices for service. In addition, there has been an

increased shift of horse owners utilizing outside resources to provide some of these services

through non-veterinary providers.

Data from the U.S. Department of Agriculture Census of Agriculture and the 2016 AVMA Pet

Demographic Survey (PDS) demonstrate a downward trend of equine numbers in the country.

The American Horse Council estimated 9.2 million equids in the United States in 2005. The

American Horse Council Economic Impact Study released in early 2018 estimated the current

U.S. equine population at 7.2 million. Conversely, the Brakke Equine Mega Study in 2014

reported an estimated U.S. horse population of 6 million, clearly demonstrating the uncertainty

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of current equine population numbers. The 2012 census by the USDA, PDS and American Horse

Council may shed a more accurate light on what can best be described as a very volatile market

place for the equine industry since the 2007 economic recession.

Horse-owning households surveyed by the AVMA Pet Demographic Survey reported that 65

percent of primary equine caretakers were female; of these households, 47 percent regarded

their horses as family members, 42 percent as pets or companions and 11 percent as livestock

or property. This demographic of horse owners’ purchases of veterinary services is parallel to

their disposable household income; almost half (44 percent) of horse-owning households

surveyed by the AVMA Pet Demographic Survey reported that their horse(s) did not receive any

care from a veterinarian in 2016, likely reflecting the direct relationship of disposable income to

veterinary service demand. The remaining households surveyed had between one and more

than four visits.

According to the 2012 AAEP Owner Trainer Survey, one of the top three reasons that clients

choose a veterinarian is the ability to provide on-the-farm ambulatory emergency care 24 hours

a day, seven days a week. Interestingly, less than 10 percent of the respondents chose low fees

as a top reason to choose a veterinarian. More than half (55 percent) of the owners reported

they had been using their primary veterinarian for at least six years; the average was nine years

suggesting that market demand, while impacted by economics, remains fairly stable in

professional services and the related relationships.

A PORTRAIT OF THE EQUINE VETERINARY PRACTICE

This section of the report examines the multiple sectors of equine veterinary practice,

communication, ambulatory service calls, utilization of practice staff, competition from

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alternative service providers, practice ownership, practice revenue trends, motivation factors

for becoming an equine veterinarian, and satisfaction with the equine veterinary career.

Sectors of equine practice

Equine veterinary practices have much in common with other types of veterinary practices in

the delivery of veterinary medical services. Equine practices, however, have several

characteristics that distinguish them from other types of practices, such as varying foci on

individual equine subsectors within the equine industry. More than 60 percent of AAEP

respondents at the time of the survey worked in general equine practice serving multiple

sectors. These individuals typically work with many different types of horses in different equine

sectors throughout the day. Of the remaining respondents, 15.6 percent worked in English

performance, 5.7 percent worked in Thoroughbred racing, 5.7 percent worked in the

reproductive sector, 4.7 percent worked primarily with equine companions, and the remainder

(each under 4 percent) in gaited breeds, Quarter Horse and Standardbred racing, ranch or

working, and Western performance (Figure 141).

Communication

Equine veterinarians communicate with multiple individuals about the diagnosis and treatment

of an individual patient and do so in a variety of ways. Almost 70 percent of AAEP respondents

most frequently contacted the owners of the patient. Next in the contact order were farm

trainers (majority-ranked second) and farm employees (majority-ranked third) (Figure 144).

Communication varied depending on the sector. Respondents in the racing industries

interfaced with owners about a patient the least of all sectors. Most respondents in racing

sectors serving Thoroughbreds (80.0 percent), Standardbreds (71.4 percent), and Quarter

Horses (100.0 percent) utilized trainers and farm managers as the primary contact (Figure 144).

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Respondents in the Quarter Horse racing industry communicated with trainers on average 97.0

percent of the time, and owners 10.6 percent of the time. In the Thoroughbred racing industry,

respondents reported that they communicated 75 percent of the time with trainers and 22.9

percent of the time with owners. Respondents in the English performance sector indicated that

they communicated with owners 58.2 percent and trainers 57.7 percent of the time (Table

134).

Over time, the equine veterinary industry has adopted new technologies and channels through

which to communicate. While slightly more than half of the respondents ranked in-person

communication first, cell phone communication was a close second (46.9 percent), followed by

email and text messaging (Figure 145).

Full-Time Equivalent Veterinarians and Staff Support

In the AAEP sample, 38.5 percent of respondents reported a one-veterinarian practice, 14.3

percent a two-veterinarian practice, 12.6 percent a three-veterinarian practice, 7.8 percent a

four-veterinarian practice, 6.1 percent a five-veterinarian practice, and 20.6 percent a six-or-

more-veterinarian practice (Figure 146).

On average, there were 1.7 FTE support staff for every FTE veterinarian employed at the AAEP

respondents’ place of employment in 2015. About 25 percent of respondents reported two to

four, an additional 25 percent reported five to nine positions at their practice in 2015, and 16

percent reported no support staff positions (Figure 147). A total of 72 solo practitioner

respondents reported no support staff positions. Of the respondents reporting additional

owner, associate and staff positions in their place of employment in 2015, the mean number of

FTE associates per FTE owner veterinarian was 1.89, or about two associates for every owner in

a practice (Table 136), and approximately one part-time staff position for each veterinarian in a

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practice. These positions included 0 .37 interns, 0.57 credentialed veterinary technicians, 0.80

non-credentialed veterinary technicians, 0.80 veterinary assistants, 0.67

receptionist/information clerks, and 0.89 barn/hospital animal caretakers per veterinarian

(Table 137).

Staff Utilization

More than one-third of AAEP respondents (35.2 percent) reported that veterinary technicians

and/or other support staff were used routinely on ambulatory calls (Figure 148). Nearly half of

the respondents indicated that support staff were not used after business hours (Figure 149),

compared to almost one-quarter of respondents who said support staff were used after normal

business hours on ambulatory calls, but only if needed.

Among AAEP respondent practices, more non-licensed technicians were used than licensed

technicians at the respondents’ place of employment. 55.7 percent of AAEP respondents

reported that they did not have a licensed technician in the workplace, compared to 21.5

percent who said they did not have a non-licensed technician/veterinary assistant in the

workplace. This finding may be because licensed veterinary technicians with equine experience

could be more difficult to find than non-licensed assistants, as the curriculum for veterinary

technology is heavily concentrated on companion animal skills, and employment opportunities

and salaries in companion animal practice are often more attractive than those in equine

practice.

Primary Business Model

Among AAEP respondents, 36.5 percent reported being in an ambulatory practice. The

distribution also included: 35.4 percent ambulatory with a haul-in facility; 16.1 percent full-

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service specialty/referral hospital with an ambulatory division; 1.3 percent haul-in facility; and

1.7 percent full-service specialty/referral hospital with no ambulatory division (Figure 152).

More than 90 percent of AAEP respondents said they charged a farm call or trip fee, and nearly

the same amount (89.4 percent) reported that they charged an emergency fee in addition to a

trip charge for emergency calls. A modest number of respondents (4.9 percent) said they did

not offer emergency services.

The majority (77.4 percent) of AAEP respondents reported a service area radius of between

zero and 60 miles, with the remainder of respondents (22.6 percent) covering more than 61

miles (Figure 153). Almost half (47 percent) of AAEP respondents reported that they drove

between 25,001 and 50,000 miles annually while practicing veterinary medicine as an equine

practitioner, followed by 29 percent who traveled between 12,501 and 25,000 miles a year

(Figure 154).

Parallel Service Providers and Competition

There are many non-veterinarian providers of equine services – including dentistry, podiatry,

sports medicine, integrative therapies, reproduction, and pharmaceutical services – that were

once deemed solely the market of veterinarians. These non-veterinarian providers of equine

services can be referred to as parallel service providers. The top services that AAEP respondents

believed affected their revenue stream were dentistry (62.5 percent), internet pharmacy sales

(54.7 percent), lay practitioners performing chiropractic, acupuncture and massage services

(47.1 percent), transient show veterinarians who followed a show circuit (31.2 percent) and

traveling pharmacies with a physical presence at horse shows (16.6 percent) (Figure 155).

AAEP respondents face competition not only from parallel service providers but from other

veterinarians within their service areas as well: 26.5 percent of AAEP respondents stated that

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there were one to five other equine veterinarians in their service area, followed by 24.6 percent

with six to 10 veterinarians, 23.6 percent with 11 to 20 veterinarians, 11.6 percent with 21 to 30

veterinarians and 13.7 percent with 31 or more veterinarians (Figure 157).

Practice Ownership and Ownership Transitions

Practice owners accounted for 334 (34.3 percent) of the Equine respondents who revealed their

employment status at the end of 2015. Of the respondents who were practice owners, 49.7

percent were sole proprietors, 36.5 percent were a partner/shareholder in an S-Corp or C-Corp,

and 13.8 percent were a partner in a Limited Liability Corporation (LLC) or other type of practice

ownership structure (Figure 159).

Of the 225 AAEP respondents who shared their perspective on selling ownership shares, 4

percent indicated that they would like to sell some or all of their shares before retirement, 28.4

percent would like to sell at the time of retirement, and 67.6 percent indicated selling shares

both before and at the time of retirement. In the AAEP sample, more than half (50.4 percent) of

relief and associate veterinarian respondents were interested in purchasing a practice; this

number is more than twice the interest reported by the AVMA sample (21.7 percent).

Although owners wish to sell and associates wish to buy, more than 64 percent of AAEP

respondents were not very confident, to not at all confident, or unsure about obtaining practice

ownership. More than half (56 percent) of AAEP respondent owners stated they were not very

confident, not at all confident, or not sure about being able to successfully sell their ownership

interest (Figure 162). An assessment of the confidence level of owners in selling interest in their

practice with respect to their practice size indicated that owners were more confident in selling

their ownership interest if they had more staff members in their practice (Figure 163).

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In considering who would buy their practice interest, 36.7 percent of AAEP respondent owners

were not sure who might succeed them, 26.9 percent indicated that they were looking to

current associates to purchase the practice, followed by nearly the same number of

respondents (26.6 percent) who cited a veterinarian not currently working at their practice as a

future successor. Of the remainder, 7.9 percent of AAEP respondents had some other person in

mind, and 2 percent of respondents reported that a corporate entity was most likely to

purchase their ownership interest (Figure 165).

Only 18.4 percent of respondents reported having a buy-sell agreement in place to provide

structure for departure of partners due to retirement, disability, or death.

Compensation Methods

Data showed that 39.2 percent of AAEP respondent owners were compensated with no

differentiation between pay for effort as a veterinarian and pay as an owner (Table 149).

Because practices are valued based on their profitability, when owners’ pay for being a

veterinarian is not separated from their return on investment as a business owner, true

profitability is not readily visible on financial reports. The compensation model recommended

by business consultants includes pay for each of these aspects of ownership: effort as a

veterinarian, effort as a practice manager, return on real estate, and return on ownership

investment. Thus, an owner is paid for their effort as a veterinarian with the same formula as

any other veterinarian employed by the practice. For practice management, a budget of 1 to 3

percent of gross revenue is set aside each year for all expenses related to practice

management, such as an office manager’s salary and benefits, membership in a management

study group, or education in management. The remainder is split among owners as a stipend

for management duties, paid in proportion to their efforts in this area. For practice owners with

real estate ownership shares of a practice facility, return from lease payments is a third

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component of compensation. Lastly, the net profit of the practice is split among owners in

accordance with their proportion of ownership or contribution to production of revenue.

For AAEP respondent associates, 49.3 percent reported that they were on a salary with

opportunity for production-based compensation, followed by 29.5 percent who were paid

salary only (Table 149). 68 percent of associate veterinarian respondents reported they

preferred a mix of base salary with the opportunity for additional production-based

compensation, followed by 21.2 percent that preferred straight salary (Figure 166).

Those AAEP respondents, both owners and associates, who were paid based on revenue

production, (46.3 percent and 62.4 percent, respectively) were asked to indicate how the

compensation was calculated: 14.6 percent of owners and 22.9 percent of associates were

compensated based on a consistent percentage of gross production/sales revenue for all

services, medical supplies, and pharmaceuticals; among associate respondents, 24.3 percent

reported that compensation was derived from a higher percentage of gross production/sales

revenue for services and a lower percentage of sales of medical supplies and pharmaceuticals.

Less than 10 percent of either group of respondents was paid on net production, or a variable

commission rate depending on the nature of the services performed (Table 154). Of the AAEP

respondents who had practice management duties, 340 (64.4 percent) reported that they did

not receive compensation for these services.

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Percentage of Household Income

When asked what percentage of household income was contributed by the respondent, 65.4

percent of male AAEP respondents reported that they contributed 76 percent to 100 percent

toward their total household income, compared to 42.2 percent of female AAEP respondents

(Figure 168). This is not surprising considering the increase in dual career couples in the last

several decades, and the fact that the median age of Equine male respondents was 58 years,

compared to 35 years for females.

Gross Revenue Production

The median personal gross revenue from production for Equine practice owner respondents

was $385,832, and for associates was $356,500. For AVMA respondents, the median personal

gross revenue from production was $500,000 for owners and $450,000 for associates (Table

156).

The mean personal gross revenue of production among Equine respondents by graduation year

showed a gradual increase in revenue production until after 20 years of practicing veterinary

medicine was reached. Respondents less than five years after graduation reported mean gross

revenue production of $306,019, while respondents who had been practicing for more than 30

years produced a mean of $411,528. AVMA respondents showed similar means with respect to

respondents who recently graduated bringing in less revenue than those with more experience

(Table 157).

The mean personal gross revenue from production among Equine respondents by gender was

$477,929 for males, and $346,638 for females. Among AVMA respondents, the mean personal

gross revenue was $515,159 for males and $451,108 for females (Table 158). The distribution of

personal gross revenue from production by gender is presented in Figure 174. It is important to

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notewhen interpreting this datathat the mean experience (years since graduation) of male

respondents (29 years) in this study was more than twice that of females (12.3 years).

The higher the median personal gross revenue of production reported by Equine and AVMA

respondents, the higher the income bracket a respondent reported (Table 159). Overall, Equine

or AVMA respondents who brought more revenue into the practice reported higher trends in

personal take-home income (Figure 175).

Respondents’ median personal gross revenue from production, in general, consistently

increased as the number of veterinarians in a practice increased until reaching a three-FTE

veterinarian practice. AAEP respondents in a one-veterinarian practice with no support staff

reported producing a median of $205,000 in gross revenue. Those in a one-veterinarian

practice with support staff produced a median of $330,000 and those in a veterinary practice of

two FTE veterinarians produced a median of $400,000 (Table 160). The general trend among

AAEP respondents was that the larger the practice size, the higher the number of respondents

who produced revenue of more than $300,000 (Figure 176). A greater percent of respondents

from five- and six-doctor practices earned revenue of more than $500,000 than did those from

four-doctor and smaller practices.

Revenue and Income Contraction and Expansion of Equine Practices

AAEP respondents who were practice owners were asked specifically about whether their

practices’ gross revenue production expanded (increased) or contracted (decreased) in 2015

compared to 2014. Overall, 64.1 percent of owner respondents reported an expansion in

practice gross revenue in 2015 compared to 2014; 13.1 percent reported a contraction, 16.6

percent of respondents reported that their revenue stayed the same, and 6.3 percent were

unsure.

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Expenses

The survey responses indicated that, in general, the more veterinarians there were in a

practice, the lower the practice expenses and deductions per veterinarian (at the median)

(Table 164).

The current ratio (current assets to current liabilities) is a measure of the practice’s ability to

meet short-term obligations. The median current ratio of AAEP owner respondent’s equine

practices was 5.74, with a range of less than .01 to 61.6. These data mean that the median

veterinary practice has $5.67 of current assets for each $1 of current liabilities. Minimal

acceptable current ratios vary from industry to industry and are generally between 1.5 and 3

for healthy businesses (The University of Adelaide, 2014; Gallo, 2015).

Profit Centers/Activity Centers

Multiple different activities in equine practice are revenue generators for veterinarians. The

highest mean percent of revenue for AAEP respondents was reported to be preventative

medicine (14.8 percent), followed by pharmacy sales (11.2 percent), lameness examinations

(10.5 percent), imaging (9.9 percent), physical examinations (9.0 percent), dentistry (8.4

percent), and laboratory testing (7.0 percent). Farm calls accounted for an average 6.8 percent

of revenue, internal medicine contributed 5.9 percent, and reproductive services 5.1 percent.

Integrative therapies made up a mean of 4.4 percent of revenues, while the smallest sources of

revenue reported were for surgery (4.2 percent) and pre-purchase exams (2.9 percent) (Table

172).

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ECONOMIC IMPACTS OF THE EQUINE VETERINARY INDUSTRY

Economic impact analysis (EIA) provides a comprehensive assessment of the economic impacts

of the profession on the U.S. economy. The objective of the EIA in this report is to determine

the economy-wide impacts of equine veterinary industry activities at the regional and national

levels. The report presents a look at the direct, indirect, induced, and total effects of veterinary

practices on the economies of each of the U.S. regions defined by the U.S. Postal Service.

IMPLAN software is the economic tool that is most widely used for economic analysis. The

IMPLAN system combines data from different sources including the U. S. Department of

Commerce, the U.S. Bureau of Labor Statistics, and other Federal and state government

agencies to compute multipliers that are used to estimate the impacts of outside factors on the

local economy. Data in IMPLAN are collected for every geographic region in the United States,

from small cities to the entire nation. The IMPLAN system estimates the multiplier effects of

changes in final demand for one sector on all other industries within a local area and provides

the results in terms of total changes in employment, income, output and value added.

In an economic impact analysis, three different results are presented: direct effects, indirect

effects and induced effects. Putting the results in the context of an equine veterinary practice,

the direct effect refers to the impacts created directly by the practice’s activity. This translates

into an increase in the total gross output of all businesses in the community and the creation of

jobs. The indirect effect refers to those effects generated by the producers of intermediate

goods and services purchased. Industries affected by veterinary practice and part of the

indirect effect may include utilities, construction, landscaping, delivery services and other

businesses that provide services to the practice. The induced effect refers to the subsequent

spending in the local economy made by the employees of equine veterinary practice and those

of the intermediate input suppliers.

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An economic impact analysis was performed for each of the 10 regions in the United States

utilizing an approximate number of equine veterinarians and employees, the mean practice

revenue of each region and an assumption that the production of a veterinary service by any of

these regions required the same set of inputs. Once the impact per practice was determined,

the impact for the entire industry was aggregated by multiplying the impact of an individual

practice by the total number of establishments in the region.

The employment effects indicated that at the national level the equine veterinary industry

generates an estimated 18,658 direct jobs, supports 5,497 indirect jobs, and induces 8,925

other jobs for an estimated total of 33,080 jobs for the entire economy (Table 175). The total

direct economic impact on labor income (employment) at a national level was estimated at

$1.14 billion. The total indirect effects were estimated at $301 million and the induced effects

at the national level were equivalent to $432 million. The aggregated effects were estimated at

$1,875 billion for the U.S. economy (Table 176).

The value added represents the increase in the gross revenue of production generated by an

industry. The direct contributions of equine practice to the gross revenue of production by

region varied, but at the national level the direct effects were estimated at $2.7 billion. The

total indirect effects were estimated at $538 million and the induced effects at the national

level were equivalent to $761 million. The aggregated effects were estimated at $3.97 billion

for the U.S. economy (Table 177).

The total dollar value of the equine veterinary services sold to consumers by equine veterinary

practices was estimated at $3.55 billion. The total indirect and induced effects at the national

level were $944 million and $1.31 billion respectively. The aggregated effect for the entire

economy was estimated at nearly $5.81 billion (Table 178).

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Equine veterinary practices pay tax to the local, state and Federal governments through

different channels for a total of an estimated $700 million. The Federal government received

$144 million on employee compensation, $20 million on production and imports, $143 million

on household service expenditures, $137 million for corporate earnings and an estimated $26

million as tax on proprietor income (Table 180).

On state and local levels (combined), taxes totaled $2.5 million for payroll, $160 million on

production and imports, $48 million on household service expenditures, $19.3 million on

corporate earnings and $26.5 million on proprietor income (Table 179).

In conclusion, equine veterinary practice, although a small slice of veterinary medicine as a

whole, has a significant impact on regional and national economies and merits solid

consideration in government, industry and stakeholder discussions.

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DATA SOURCES AND METHODS

The survey that is the focus of this report drew upon responses from AAEP members. Data used

in this report were collected from several sources including the AVMA-AAEP 2016 Survey of

Equine Practitioners, the AAEP membership database, and the AVMA 2016 Census of

Veterinarians. At the time of the survey, more than half of the AAEP member-respondents were

in private practice restricted to equines; other members held positions in a college or

university, government, not-for-profit organization, or industry setting; some were pursuing an

advanced education degree, and others were practicing in mixed, food animal, companion

animal or other veterinary setting. The AVMA-AAEP 2016 Survey of Equine Practitioners

commenced at the beginning of August 2016. Using the AAEP membership list, 5,885 active

members of the organization were initially selected to complete the survey. After accounting

for 228 invalid e-mail addresses from the initial sample that were returned to sender or failed

electronic delivery, a total of 5,657 members with valid email addresses received the survey. In

addition, 56 other AAEP members personally requested to fill out the survey, bringing the total

number of members who received the survey to 5,713. A reminder email was sent every week

until the close of the survey. The survey officially closed on September 6, 2016. In total, of

5,713 members who received the survey, 986 members completed the survey. After removing

11 respondents who were still in veterinary school, the number of respondents totaled 975,

yielding a response rate of 17 percent.

In addition to the 975 respondents, 81 veterinarians who identified themselves as equine

practitioners when responding to the AVMA’s 2016 Census of Veterinarians, but who were not

among the AAEP survey sample (and therefore not represented in the AAEP dataset), were

included in a second dataset that was combined with the AAEP member respondents from the

AVMA-AAEP 2016 Survey of Equine Practitioners. Some of the questions from the AVMA’s 2016

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Census of Veterinarians were similar to the AVMA-AAEP 2016 Survey of Equine Practitioners.

Responses to these questions were combined to form this second dataset. After integrating

these 81 veterinarians’ responses with the 975 into the second dataset sample, the AAEP

dataset was analyzed and compared to the combined dataset to evaluate the similarities and

differences between the samples. The combined sample was found to be similar. As a result, for

all those questions that were the same between the AVMA-AAEP 2016 Survey of Equine

Practitioners and the AVMA’s 2016 Census of Veterinarians, the combined dataset was used for

reporting responses.

All veterinarians in the AVMA-AAEP 2016 Survey of Equine Practitioners who were included in

the analysis were either 1) employed in clinical veterinary medicine, 2) employed, but not in

clinical veterinary medicine, 3) retired from the general workforce, or 4) unemployed.

Depending on their current life situation, survey subjects were asked a specific set of questions

relating to their employment status. Questions in the survey explored demographics,

education, educational debt, internship and residency participation, employment,

underemployment, unemployment, retirement, career satisfaction, staff utilization,

compensation, practice ownership, the business environment, finances, health and wellness,

and specific equine industry factors.

In this report, the following datasets were analyzed:

1. The AAEP membership database was utilized to develop aggregate gender, age and ZIP code

information. Only aggregate statistics from this dataset are reported. This information was used

to determine the “weights” required to adjust responses to align with the demographics for

equine practitioners. This database can be found in the “Demographics “and “Geographic

Distribution of Equine Practitioners” sections of this report. These data are referred to as “AAEP

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Members” in this section of the report. The number of observations in the AAEP membership

database was N=7,432.

2. The AVMA-AAEP 2016 Survey of Equine Practitioners, which comprises survey responses from

AAEP members, is referred to as “AAEP” throughout the report. The number of AAEP

observations (respondents) was N=975.

3. The AVMA’S 2016 Census of Veterinarians, which comprises survey responses from AVMA

members, is referred to as “AVMA” throughout the report. The number of AVMA observations

(respondents) was N=2,545.

4. The combined dataset of AAEP (N=975) and the self-identified equine practitioners from the

AVMA (N=81), is collectively called “Equine.” The number of such combined Equine

observations (respondents) was N=1,056.

In the analysis, the demographics of the AAEP sample and the equine practitioners from the

AVMA sample are both strongly correlated to the AAEP membership. Thus the combined

Equine sample is representative of the AAEP members. As such, the Equine sample is compared

to the AVMA sample (in cases where they can be compared) unless otherwise noted.

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Table of Contents

Objective ......................................................................................................................................... 3

Introduction .................................................................................................................................... 5

Executive Summary....................................................................................................................... 11

General Economic Conditions ................................................................................................... 13

Demographics of Equine Practitioners ..................................................................................... 13

The Market for Veterinary Education ....................................................................................... 17

The Market for Veterinarians ................................................................................................... 27

The Market for Veterinary Services .......................................................................................... 43

A Portrait of the Equine Veterinary Practice ............................................................................ 44

Economic Impacts of the Equine Veterinary Industry .............................................................. 55

Data Sources and Methods ........................................................................................................... 58

List of Figures ................................................................................................................................ 66

List of Tables.................................................................................................................................. 79

Section 1: General Economic Conditions ...................................................................................... 90

1.1 Business Cycle Index ........................................................................................................... 91

1.2 Index of Leading Economic Indicators ................................................................................ 94

Section 2: Demographics ............................................................................................................ 100

2.1 Demographics of Respondents ......................................................................................... 100

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2.1.1 Year of Graduation and Age........................................................................................... 100

2.1.2 Veterinary Medical College Attended............................................................................ 102

2.1.3 Gender............................................................................................................................ 104

2.1.4 Type of Employment ...................................................................................................... 107

2.1.5 Racial/Ethnic Group ....................................................................................................... 108

2.1.6 Regional Distribution ..................................................................................................... 110

2.1.7 Living Environment and Work Location ......................................................................... 113

2.1.8 Marital Status ................................................................................................................. 115

Section 3: The Market for Veterinary Education ........................................................................ 116

3.1 Supply of Veterinary Education ........................................................................................ 116

3.2 North American Veterinary Licensing Exam ..................................................................... 118

3.3 Supply of Seats from AVMA-Accredited Schools .............................................................. 119

3.4 The Cost of Veterinary Education ..................................................................................... 120

3.5 Distribution of New Veterinarians .................................................................................... 122

3.6 Veterinary College Outcomes of Veterinarians in the Equine Profession ........................ 125

3.6.1 Externship Participation ................................................................................................. 125

3.6.2 Internship Participation ................................................................................................. 126

3.6.3 Residency Participation.................................................................................................. 166

3.6.4 College Preparedness..................................................................................................... 176

3.6.5 Most Important Skills for New Veterinarians ................................................................ 178

3.6.6 Equine Veterinarians Leaving the Equine Profession .................................................... 185

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3.6.7 New Veterinarian Starting Salaries ................................................................................ 191

3.7 Educational Debt of New Veterinarians ........................................................................... 198

3.7.1 Summary Statistics ......................................................................................................... 199

3.7.2 Difference in Student Debt for Selected Characteristics ............................................... 204

3.7.3 Factors Affecting Veterinary Educational Student Debt upon Graduation ................... 216

3.8 Expectations before Entering Profession.......................................................................... 220

3.9 Key Performance Indicator: Debt-To-Income Ratio (DIR) of New Veterinarians ............. 223

3.9.1 Factors Affecting Debt-to-Income Ratio ........................................................................ 225

Section 4: The Market for Veterinarians..................................................................................... 230

4.1 Equine Veterinary Profession Incomes ............................................................................. 230


4.1.2 Differences in Professional Income for Selected Characteristics .................................. 235

4.1.3 Factors Affecting Income ............................................................................................... 250

4.2 Fringe Benefits Received................................................................................................... 257

4.3 Family Status ..................................................................................................................... 261

4.4 Market Key Performance Indicator: Net Present Value ................................................... 266

4.4.1 Age Earnings Profile ....................................................................................................... 266

4.4.2 Net Present Value (NPV) of the DVM Degree................................................................ 268

4.5 Equine Veterinary Profession Employment ...................................................................... 276

4.5.1 Full-Time and Part-Time Employment ........................................................................... 280


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4.5.3 Employment Satisfaction ............................................................................................... 289

4.5.4 Retirement ..................................................................................................................... 320

4.6 Equine Veterinary Profession Unemployment ................................................................. 324


4.6.2 Factors Affecting Unemployment .................................................................................. 328

4.7 Equine Veterinary Profession Underemployment............................................................ 331

4.7.1 Veterinarians Who Wish to Work More (Underemployment) ...................................... 348

4.7.2 Veterinarians Who Wish to Work Less (Negative Underemployment)......................... 353

4.7.3 Factors Correlated with Underemployment.................................................................. 359

4.8 Health and Wellness ......................................................................................................... 366

4.8.1 Physical and Mental Health ........................................................................................... 366

4.8.2 Professional Quality of Life ............................................................................................ 389

4.9 Geographic Distribution of Equine Practitioners .............................................................. 431

Section 5: Market for Veterinary Services .................................................................................. 434

5.1 Supply of Equids in the United States ............................................................................... 436

5.1.1 Number of Equine-Pet-Owning Households.................................................................. 438

5.1.2 Location.......................................................................................................................... 439

5.1.3 Veterinary Visits ............................................................................................................. 440

5.2 Demand for Equine Private Practice Veterinary Services ................................................. 442

Section 6: Equine Practice........................................................................................................... 444

6.1 Equine Sectors................................................................................................................... 445

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6.2 Staff Utilization.................................................................................................................. 460

6.3 Service Calls....................................................................................................................... 470

6.4 Parallel Service Providers .................................................................................................. 479

6.5 Practice Ownership ........................................................................................................... 488

6.6 Compensation Methods.................................................................................................... 500

6.7 Returns to Equine Veterinary Practice.............................................................................. 518

6.7.1 Personal Gross Revenue of Production for 2015........................................................... 518

6.7.2 Total Practice Gross Revenue of Production ................................................................. 532

6.7.3 Average Gross Collected Revenue ................................................................................. 536

6.7.4 Revenue and Income Contraction and Expansion of Equine Practices ......................... 542

6.7.5 Total Practice Expenses/Deductions for 2015 ............................................................... 549

6.7.6 Current Ratio .................................................................................................................. 555

6.7.7 Profit Centers/Activity Centers ...................................................................................... 559

Section 7: ECONOMY-WIDE IMPACTS of Equine Practices......................................................... 566

7.1 IMPLAN software and Input/Output Analysis .................................................................. 566

7.2 Results and Discussion ...................................................................................................... 568

Recognition of Authors ............................................................................................................... 574

References................................................................................................................................... 575

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LIST OF FIGURES

Figure 1: Distribution of Equine Respondents' Age by Gender .................................................... 15

Figure 2: Distribution of Equine Respondents' Years of Experience by Gender .......................... 15

Figure 3: Economy Key Performance Indicator - Real Gross Domestic Product, 1930-2017 ....... 91

Figure 4: Real Median Household Income in the United States, 1984-2016 ............................... 94

Figure 5: The Conference Board's Leading Economic Index ......................................................... 96

Figure 6: Leading Index for the United States, Percent, Monthly, Seasonally Adjusted, 1982-

2017............................................................................................................................................... 97

Figure 7: Leading Index for the United States, Percent, Monthly, Seasonally Adjusted, 2009-

2017............................................................................................................................................... 98

Figure 8: Congressional Budget Office 10-Year Baseline Forecast of U.S. GDP............................ 99

Figure 9: Distribution of Equine Respondents, AVMA Respondents and AAEP Members by

Graduation Year .......................................................................................................................... 101

Figure 10: Distribution of Equine Respondents, AVMA Respondents and AAEP Members by Age

..................................................................................................................................................... 102


Gender......................................................................................................................................... 104


Gender and Age .......................................................................................................................... 106

Figure 13: Distribution of Equine and AVMA Respondents by Type of Employment ................ 107

Figure 14: Distribution of Equine and AVMA Respondents by Racial/Ethnic Group.................. 108

Figure 15: Distribution of Equine and AVMA Respondents by Age and Racial/Ethnic Group ... 110

Figure 16: U.S. Postal Service Regions of the United States....................................................... 111

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Figure 17: Distribution of Equine and AVMA Respondents by U.S. Region of Employment...... 112

Figure 18: Distribution of Equine and AVMA Respondents by Living Environment/Community

..................................................................................................................................................... 113

Figure 19: Distribution of Equine and AVMA Respondents by Marital Status ........................... 115

Figure 20: Association of American Veterinary Medical Colleges (AAVMC) Veterinary School

Applicant Figures, AAVMC Internal Data Reports, 1980-2018 .................................................. 117

Figure 21: North American Veterinary Licensing Exam National Pass Rate ............................... 118

Figure 22: U.S. Veterinary Graduates, All Sources, 1980-2025 .................................................. 119

Figure 23: Distribution of Veterinary School Applicants and Their Desired Career Path ........... 123

Figure 24: Distribution of New Veterinarians in Equine Private Practice................................... 124

Figure 25: Distribution of New Veterinarians in Private Practice ............................................... 124

Figure 26: Distribution of AAEP Respondents by Externship Participation ................................ 126

Figure 27: Distribution of Equine and AVMA Respondents by Internship Participation ........... 128

Figure 28: Distribution of Equine and AVMA Respondents Internship Participation by Gender129

Figure 29: Distribution of Equine and AVMA Respondents by Year of Completed Internship .. 130

Figure 30: Distribution of Equine and AVMA Respondents by Internship Program .................. 131

Figure 31: Distribution of Equine and AVMA Respondents by Internship Program and Gender

..................................................................................................................................................... 132

Figure 32: Distribution of AAEP Respondents by Internship Compensation Package Which

Includes/Included Free Housing ................................................................................................. 139

Figure 33: Distribution of AAEP Respondents’ Vacation Days Allotted for Internships by

Graduation Year .......................................................................................................................... 144

Figure 34: Distribution of Equine and AVMA Respondents’ First Post-Internship Salary by Year of

Graduation .................................................................................................................................. 145

Figure 35: Distribution of Equine and AVMA Respondents’ Program Focus of Internship ........ 147

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Figure 36: Distribution of Equine and AVMA Respondents’ Program Focus of Internship by

Gender......................................................................................................................................... 149

Figure 37: Distribution of Equine and AVMA Respondents by Species Focus of Internship ...... 152

Figure 38: Distribution of Equine and AVMA Respondents’ Internship Satisfaction by Gender 154

Figure 39: Distribution of Equine and AVMA Respondents’ by Satisfaction with Specific

Internship Expectations .............................................................................................................. 159

Figure 40: Distribution of Equine Respondents by Likelihood of Future Internship Participation

..................................................................................................................................................... 160

Figure 41: Distribution of Equine and AVMA Respondents’ Participation in a Residency ......... 167

Figure 42: Distribution of AAEP Respondents (Who Applied or Attempted to Participate in a

Residency) by Residency Participation ....................................................................................... 168

Figure 43: Distribution of Equine and AVMA Respondents by Year of Completed (or Future

Completion) Residency ............................................................................................................... 169

Figure 44: Distribution of Equine and AVMA Respondents Who Participated in a Residency by

Gender......................................................................................................................................... 170

Figure 45: Distribution of Equine and AVMA Respondents Who Stated They Were Participating

in an Internship because They Planned to Apply for a Residency, and Their Residency

Completion Status by Gender ..................................................................................................... 171

Figure 46: Distribution of Equine and AVMA Respondents by Program Focus of Residency .... 172

Figure 47: Distribution of Equine and AVMA Respondents by Species Focus of Residency ...... 173

Figure 48: Distribution of Equine and AVMA Respondents’ Attitudes about College Education

Preparation by Graduation Year ................................................................................................. 178

Figure 49: AAEP Membership Attrition by Graduation Year, 2000-2012 ................................... 186

Figure 50: Distribution of Equine Respondents Leaving the Equine Profession by Timeframe of

Departure .................................................................................................................................... 187

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Figure 51: Distribution of Equine Respondents Who Reported Leaving the Equine Profession

within Five Years after Graduation by Graduation Year ............................................................. 188

Figure 52: Mean Starting Salaries of New Veterinarians ............................................................ 192

Figure 53: Mean Starting Salaries of New Veterinarians — Private Practice ............................. 193

Figure 54: Real Mean Debt for New Graduates in the Equine Profession vs. All Other Veterinary

Fields ........................................................................................................................................... 198

Figure 55: Distribution of Equine and AVMA Respondents’ Pre-Veterinary Educational Debt by

Gender......................................................................................................................................... 200

Figure 56: Distribution of Equine and AVMA Respondents’ Pre-Veterinary Educational Debt by

Graduation Year .......................................................................................................................... 201

Figure 57: Distribution of Equine and AVMA Respondents’ Gross Annual Compensation that

Debt Repayment Requires .......................................................................................................... 203

Figure 58: Mean Debt-to-Income Ratio of New AVMA Equine Veterinarians and All New AVMA

Veterinarians by Graduation Year .............................................................................................. 224

Figure 59: Distribution of Respondents’ Mean Income by DVMs .............................................. 232

Figure 60: Distribution of Respondents’ Mean Income by Gender and Full-Time vs. Part-Time

Employment ................................................................................................................................ 233

Figure 61: Distribution of AAEP Mean Veterinary Income by Practice Size (Veterinarians and

Support Staff) .............................................................................................................................. 234

Figure 62: Distribution of Respondents' Mean Income and Internship Participation by

Graduation Year .......................................................................................................................... 240

Figure 63: Map of U.S. Regions with Respect to Mean Annual Income of Equine and AVMA

Respondents ............................................................................................................................... 246

Figure 64: Distribution of AAEP Respondents’ Children Status .................................................. 261

Figure 65: Distribution of Equine and AVMA Respondents’ Age of Children in Household ...... 262

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Figure 66: Distribution of AAEP Respondents’ Number of Weeks of Maternity/Paternity Leave

Offered by Employer (Paid or Unpaid) ....................................................................................... 263

Figure 67: Distribution of AAEP Respondents’ Maternity/Paternity Leave That Is Eligible for

Compensation ............................................................................................................................. 264

Figure 68: Distribution of AAEP Respondents’ Employer That Continues to Provide Benefits

during Maternity/Paternity Leave .............................................................................................. 265

Figure 69: Distribution of AAEP Respondents’ Length of Time Their Employer Provides Benefits

during Maternity/Paternity Leave .............................................................................................. 265

Figure 70: Distribution of AAEP Respondents and Whether or Not Maternity/Paternity Leave

Policy Has Been Well Addressed in Employment Contracts....................................................... 266

Figure 71: Equine Practitioner and General Veterinary Practitioner Age-Earnings Profiles by

Gender......................................................................................................................................... 268

Figure 72: Net Present Value of the DVM Degree of General Veterinary Practitioners by Gender

..................................................................................................................................................... 270

Figure 73: Net Present Value of the DVM Degree of Equine Practitioners by Gender .............. 271

Figure 74: Distribution of Equine and AVMA Respondents’ Number of Hours Worked per Week

(Regular and Emergency Hours) by Gender ............................................................................... 279

Figure 75: Distribution of Equine and AVMA Respondents Full- and Part-Time Employment

Status in Clinical Veterinary Medicine ........................................................................................ 280

Figure 76: Distribution of Equine and AVMA Respondents’ Regular Hours Worked per Week in

Clinical Veterinary Medicine ....................................................................................................... 281

Figure 77: Distribution of Equine and AVMA Respondents’ Emergency Hours Worked per Week

in Clinical Veterinary Medicine as a Percentage of Total Hours Worked ................................... 282

Figure 78: Distribution of Equine and AVMA Respondents’ Part-Time Regular Hours Worked per

Week in Clinical Veterinary Medicine ......................................................................................... 284

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Figure 79: Distribution of Equine and AVMA Respondents’ Part-Time Emergency Hours Worked

per Week in Clinical Veterinary Medicine .................................................................................. 285

Figure 80: Distribution of Equine Respondents and the Percentage of the Total Amount of On-

Call/Emergency Duty That They Perform at Their Place of Employment................................... 286

Figure 81: Distribution of Equine Respondents and the Percentage of the Total Amount of On-

Call/Emergency Duty That They Perform at Their Place of Employment by Number of

Veterinarians at Their Place of Employment .............................................................................. 287

Figure 82: Distribution of Equine and AVMA Respondents by Years with Current Employer ... 288

Figure 83: Distribution of AAEP Respondents’ Likelihood That They Will Choose to Remain

Employed at Their Organization over the Next Five Years by Gender ....................................... 297

Figure 84: Distribution of AAEP Respondents' Likelihood That They Will Choose to Remain

Employed at Their Organization over the Next Five Years by Graduation Year......................... 298

Figure 85: Distribution of AAEP Respondents' Length of Time with Most Recent Previous Place

of Employment............................................................................................................................ 299

Figure 86: Distribution of AAEP Respondents' Level of Satisfaction with Most Recent Previous

Place of Employment by Gender ................................................................................................ 300

Figure 87: Distribution of AAEP Respondents’ Level of Satisfaction with Most Recent Previous

Place of Employment by Graduation Year .................................................................................. 301

Figure 88: Distribution of Equine and AVMA Respondents’ Desire to Change the Veterinary

Sector in Which They Currently Work (if they could) by Current Employment Satisfaction ..... 303

Figure 89: Distribution of Equine and AVMA Respondents’ Desire to Change the Veterinary

Sector in Which They Currently Work (if they could) by Graduation Year................................. 304

Figure 90: Distribution of Equine and AVMA Respondents’ Desire to Change the Geographic

Location in Which They Currently Work (if they could) by Current Employment Satisfaction .. 310

Figure 91: Distribution of Equine and AVMA Respondents’ Desire to Change the Geographic

Location in Which They Currently Work (if they could) by Graduation Year ............................. 311

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Figure 92: Distribution of Equine and AVMA Respondents’ Number of Miles They Are Willing to

Relocate for Better Career Opportunities .................................................................................. 316

Figure 93: Distribution of Equine and AVMA Respondents’ Preferred Workplace Size by

Graduation Year .......................................................................................................................... 318

Figure 94: Distribution of Equine and AVMA Respondents’ Preference for Community Size by

Gender......................................................................................................................................... 319

Figure 95: Distribution of Equine and AVMA Respondents Who Retired with Respect to Number

of Years since Retirement ........................................................................................................... 320

Figure 96: Distribution of Equine and AVMA Respondents’ Anticipated Years to Retirement.. 321

Figure 97: Distribution of Unemployed Equine and AVMA Respondents by Graduation Year.. 325

Figure 98: Distribution of Unemployed Equine and AVMA Respondents by Type of

Employment/Enrollment Area They Are Seeking ....................................................................... 326

Figure 99: Distribution of Equine and AVMA Respondents’ Preference in Work Hours............ 332

Figure 100: Distribution of Equine and AVMA Respondents’ Preference in Hours Worked by

Gender......................................................................................................................................... 333

Figure 101: Distribution of Equine and AVMA Respondents’ Current Hours Worked and Desire

to Change Hours Worked............................................................................................................ 335

Figure 102: Distribution of Equine and AVMA Respondents’ Change in Hours Desired by Gender

..................................................................................................................................................... 336

Figure 103: Distribution of Equine and AVMA Respondents’ Net Hours Desired by Gender .... 338

Figure 104: Distribution of Female Equine and AVMA Respondents’ Work Hour Preference by

Number of Years since DVM/VMD Graduation .......................................................................... 339

Figure 105: Distribution of Male Equine and AVMA Respondents’ Work Hour Preference by

Number of Years since DVM/VMD Graduation .......................................................................... 341

Figure 106: Distribution of Equine and AVMA Respondents’ Desired Work Hour Preference by

Type of Employment ................................................................................................................... 343

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Figure 107: Distribution of Equine and AVMA Respondents’ Work Preference — Practice

Owners vs. Non-Practice Owners ............................................................................................... 344

Figure 108: Distribution of AAEP Respondents’ Work Preference by Primary Equine Sector ... 345

Figure 109: Distribution of AAEP Respondents’ Work Preference by Business Model.............. 347

Figure 110: Distribution of Equine and AVMA Respondents’ Underemployment by Gender ... 349

Figure 111: Distribution of Equine and AVMA Respondents’ Underemployment by Region .... 350

Figure 112: Distribution of Equine Respondents’ Underemployment by Primary Equine Sector

..................................................................................................................................................... 351

Figure 113: Distribution of Equine Respondents’ Underemployment by Business Model ........ 352

Figure 114: Distribution of Equine and AVMA Respondents’ Negative Underemployment by

Gender......................................................................................................................................... 354

Figure 115: Distribution of Equine and AVMA Respondents’ Negative Underemployment by

Region ......................................................................................................................................... 355

Figure 116: Distribution of Equine Respondents’ Negative Underemployment by Primary Equine

Sector .......................................................................................................................................... 356

Figure 117: Distribution of Equine Respondents’ Negative Underemployment by Business Model

..................................................................................................................................................... 357

Figure 118: Distribution of AAEP Respondents’ Physical and Mental Health Condition by Gender

..................................................................................................................................................... 367

Figure 119: Distribution of AVMA Respondents’ Health Condition by Gender ......................... 368

Figure 120: Distribution of AAEP and AVMA Respondent Associates’ Physical and Mental Health

Condition by Gender ................................................................................................................... 370

Figure 121: Distribution of AAEP and AVMA Respondent Owners’ Physical and Mental Health

Condition by Gender ................................................................................................................... 371

Figure 122: Distribution of AAEP Respondents’ Physical and Mental Health Condition by

Graduation Year .......................................................................................................................... 373

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Figure 123: Distribution of AAEP Respondents’ Physical and Mental Health Limitations on Daily

Activities ...................................................................................................................................... 374

Figure 124: Distribution of AAEP Respondents' Number of Days out of Work Related to Injury

Suffered at Work (select all that apply) ...................................................................................... 376

Figure 125: Distribution of AAEP Respondents' Number of Injuries Incurred While Practicing

Veterinary Medicine That Caused Missed Work Time ............................................................... 377

Figure 126: Distribution of AAEP Respondents' Result of a Work-Related Injury by Gender .... 378

Figure 127: Distribution of How AAEP Respondents’ Health Limited Vigorous Activities by

Gender......................................................................................................................................... 379

Figure 128: Distribution of How AAEP Respondents’ Health Limited Moderate Activities by

Gender......................................................................................................................................... 380

Figure 129: Distribution of AAEP Respondents’ Level of Bodily Pain during the Past Four Weeks

by Graduation Year ..................................................................................................................... 387

Figure 130: Distribution of AAEP Respondents’ Level of Pain Interference during the Last Past

Four Weeks by Graduation Year ................................................................................................. 388

Figure 131: Distribution of Equine and AVMA Respondents’ Compassion Satisfaction Score .. 394

Figure 132: Distribution of Equine and AVMA Respondents’ Burnout Score ............................ 407

Figure 133: Distribution of Equine and AVMA Respondents’ Secondary Traumatic Stress Score

..................................................................................................................................................... 418

Figure 134: Concentration of Equine Respondents in the United States, 2016 ......................... 431

Figure 135: Concentration of AAEP Members in the United States, 2016 ................................. 432

Figure 136: Concentration of AVMA Respondents in the United States, 2016.......................... 433

Figure 137: Total Number of Farm Mules, Burros and Donkeys in the United States ............... 436

Figure 138: Total Number of Farm Horses and Ponies in the United States.............................. 437

Figure 139: Total Number of Pet Equids in the United States, 1981-2016 ................................ 438

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Figure 140: Percentage and Number of Households That Owned a Horse, Dec. 31, 1991-2016

..................................................................................................................................................... 439

Figure 141: Distribution of AAEP Equine Practitioner Respondents and the Type of Equine

Sector They Primarily Serve ........................................................................................................ 446

Figure 142: Concentration of Equine Respondents by Primary Equine Industry Sector, 2016 .. 447

Figure 143: Distribution of AAEP Respondent’s Frequent Primary Contact for Horse Patient .. 451

Figure 144: Distribution of AAEP Respondents' Frequent Primary Contact for Horse Patient by

Primary Equine Sector................................................................................................................. 455

Figure 145: Distribution of AAEP Respondents’ Ranking of Communication Method with Clients

..................................................................................................................................................... 459

Figure 146: Distribution of Full-Time Equivalent (FTE) Veterinarians at a Practice ................... 461

Figure 147: Distribution of Number of FTE Employees in a Practice.......................................... 462

Figure 148: Distribution of the Utilization of Veterinary Technicians and Other Support Staff on

Ambulatory Calls ......................................................................................................................... 464

Figure 149: Distribution of the Utilization of Veterinary Technicians and Other Support Staff

after Business Hours ................................................................................................................... 465

Figure 150: Distribution of the Utilization of Veterinary Technicians and Other Support Staff on

Ambulatory Calls by Number of FTE Veterinarians at a Practice ............................................... 466

Figure 151: Distribution of the Utilization of Veterinary Technicians and Other Support Staff

after Business Hours by Number of FTE Veterinarians at a Practice.......................................... 467

Figure 152: Distribution of AAEP Respondents’ Primary Practice Business Model In 2015....... 471

Figure 153: Distribution of AAEP Respondents’ Primary Practice Service Area Radius (in miles)

..................................................................................................................................................... 475

Figure 154: Distribution of AAEP Respondents Miles Traveled for Work Each Year While

Practicing Equine Medicine......................................................................................................... 477

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Figure 155: Do you think your practice’s revenue stream has been reduced by services provided

by any of the following types of parallel service providers? (select all that apply) ................... 480

Figure 156: Maps of Parallel Veterinary Service Providers Affecting AAEP Respondents’ Revenue

..................................................................................................................................................... 484

Figure 157: Distribution of the Number of Equine Veterinarians Competing in AAEP

Respondents’ Service Area ......................................................................................................... 485

Figure 158: Distribution of Competing Equine Veterinarians in an AAEP Respondent’s Service

Area ............................................................................................................................................. 486

Figure 159: Distribution of AAEP Respondent Owners by Practice Ownership Structure ......... 488

Figure 160: Distribution of AAEP and AVMA Respondents’ Interest in Buying Shares or Becoming

a Practice Owner by Gender ....................................................................................................... 490

Figure 161: Distribution of AAEP Respondents' Confidence Level in Obtaining Practice

Ownership Interest in a Practice within the Next 18 Months .................................................... 491

Figure 162: Distribution of AAEP Respondent Owners’ Confidence Level Who Want to Sell Their

Ownership Interest ..................................................................................................................... 492

Figure 163: Distribution of AAEP Respondent Owners Who Want to Sell Their Practice Interest:

Confidence in Ability to Sell Shares by Practice Size .................................................................. 493

Figure 164: Distribution of AAEP Respondent Owners Who Want to Sell Their Practice:

Confidence in Ability to Sell by Gross Collected Practice Revenue (per Year in the Last Three

Years)........................................................................................................................................... 494

Figure 165: Distribution of AAEP Respondents' Entity That Is Most Likely to Purchase Ownership

Interest ........................................................................................................................................ 495

Figure 166: Distribution of AAEP Respondent Associates’ Preferred Method of Compensation

..................................................................................................................................................... 504

Figure 167: Distribution of AAEP Respondents’ Owner Compensation with Differentiation and

with No Differentiation between Pay for Effort as a Veterinarian and Pay as an Owner .......... 510

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Figure 168: Percentage of Equine and AVMA Respondents’ Household Income Contribution by

Gender......................................................................................................................................... 513

Figure 169: Percentage of Equine and AVMA Respondents’ Household Income Contribution by

Graduation Year .......................................................................................................................... 514

Figure 170: Distribution of AAEP Respondents’ Compensation of Practice Management Duties

by Gender.................................................................................................................................... 515

Figure 171: Distribution of AAEP Respondents’ Compensation for Practice Management Duties

by Graduation Year ..................................................................................................................... 516

Figure 172: Distribution of Equine and AVMA Respondents’ 2015 Total Personal Gross Revenue

of Production by Employment Status ......................................................................................... 520

Figure 173: Distribution of Equine and AVMA Respondents' 2015 Total Personal Gross Revenue

of Production by Graduation Year .............................................................................................. 523


of Production by Gender............................................................................................................. 525


of Production by Income............................................................................................................. 529

Figure 176: Distribution of AAEP Respondents’ 2015 Total Personal Gross Revenue of

Production by FTE Veterinarians in a Practice ............................................................................ 531

Figure 177: Distribution of AAEP Respondent Owners’ Average Gross Collected Revenue Earned

per Year for Their Practice (over the last three years) by Practice Ownership Type ................. 537


per Year for Their Practice (over the last three years) by Number of FTE Veterinarians in a

Practice........................................................................................................................................ 538


per Year for Their Practice (over the last three years) by Equine Sector ................................... 539

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per Year for Their Practice (over the last three years) by Business Model ................................ 541

Figure 181: Distribution of AAEP Respondents’ Practice Gross Revenue Change in 2015

Compared to 2014 ...................................................................................................................... 543

Figure 182: Distribution of AAEP Respondents’ Practice Gross Revenue Contraction from 2014-

2015............................................................................................................................................. 544

Figure 183: Distribution AAEP Respondents’ Practice Gross Revenue Expansion from 2014-2015

..................................................................................................................................................... 545

Figure 184: Distribution of AAEP Respondents’ Net Income Change in 2015 Compared to 2014

..................................................................................................................................................... 547

Figure 185: Distribution of AAEP Respondents’ Practice Net Income Contraction from 2014-

2015............................................................................................................................................. 548

Figure 186: Distribution AAEP Respondents’ Practice Net Income Expansion from 2014-2015 549

Figure 187: Equine Practice Profit Centers (Largest to Smallest) ............................................... 560

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LIST OF TABLES

Table 1: Length of U.S. Business Cycles, 1953-2009 ..................................................................... 92

Table 2: Distribution of Equine and AVMA Respondents by Veterinary College ....................... 103

Table 3: Distribution of Equine and AVMA Respondents by Desire to Change Living

Environment/Community ........................................................................................................... 114

Table 4: Tuition/Fees and Total Cost of a DVM Degree by Veterinary School ........................... 121

Table 5: Distribution of Veterinary School Applicants’ Age When They Develop an Interest in

Veterinary Medicine ................................................................................................................... 122

Table 6: Distribution of Equine and AVMA Respondents by Internship Program and Graduation

Year ............................................................................................................................................. 133

Table 7: Distribution of Equine and AVMA Respondents’ Reasons for Undertaking an Internship

by Gender and Graduation Year ................................................................................................. 135

Table 8: Distribution of Elements Included in Equine Internships, Selecting All That Applied to

AAEP Respondents ...................................................................................................................... 137

Table 9: Distribution of Equine and AVMA Respondents’ Internship Stipends/Salaries by Gender

..................................................................................................................................................... 138

Table 10: Distribution of Equine and AVMA Respondents’ Internship Stipends/Salaries by

Graduation Year .......................................................................................................................... 138

Table 11: Distribution of AAEP Respondents’ Internship Housing Status with Respect to Intern

Salaries and Graduation Year...................................................................................................... 140

Table 12: Means of Equine Monthly Value of Housing per Month ............................................ 141

Table 13: Percentage of Benefits Provided by Equine First, or Only, Internship ....................... 142

Table 14: Percentage of Benefits Provided by Equine First, or Only, Internship by Graduation

Year ............................................................................................................................................. 143

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Table 15: Mean Distribution of Equine and AVMA Respondents’ Post-Internship Salary by

Gender and Graduation Year ...................................................................................................... 146

Table 16: Distribution of Equine and AVMA Respondents’ Program Focus of Internship by

Gender and Graduation Year ...................................................................................................... 150

Table 17: Distribution of Equine and AVMA Respondents by Primary Focus of Internship....... 153

Table 18: Distribution of Equine and AVMA Respondents’ Internship Satisfaction by Graduation

Year ............................................................................................................................................. 155

Table 19: Factors That Are Significant in Explaining the Population of Veterinarians Who

Participated in an Internship After Graduation .......................................................................... 163

Table 20: Distribution of Equine and AVMA Respondents by Primary Focus of Residency ....... 174

Table 21: Distribution of Board-Certified Equine and AVMA Respondents by AVMA-Recognized

Veterinary Specialty Organizations ............................................................................................. 175

Table 22: Distribution of AAEP Respondents and the Importance of Specific Procedures for New

Associates to Have Mastery of.................................................................................................... 179

Table 23: Distribution of AAEP Respondents and the Importance of Specific Procedures for New

Associates to Have Mastery by Years of Experience .................................................................. 181

Table 24: Distribution of AAEP Respondents’ Important Competencies of New Associates ..... 185

Table 25: Factors That Are Significant in Explaining the Population of Veterinarians Who Have

Left the Equine Profession within Five Years of Entering the Profession After Graduation ...... 191

Table 26: Factors Affecting Starting Salaries of New Veterinarians ........................................... 196

Table 27: Distribution of Equine and AVMA Respondents’ Mean Student Debt ....................... 201

Table 28: Percentage of Equine and AVMA Respondents’ Annual Compensation Used to Service

Student Loan Debt by Graduation Year ...................................................................................... 204

Table 29: Mean Student Debt with Respect to the Number of Years since Graduation........... 205

Table 30: Mean Student Debt with Respect to Additional Degree ............................................ 206

Table 31: Mean Student Debt with Respect to Internship Participation ................................... 207

Page 81 of 577



Table 32: Mean Student Debt with Respect to Residency Participation.................................... 208

Table 33: Mean Student Debt with Respect to Board Certificate .............................................. 208

Table 34: Mean Student Debt with Respect to Gender.............................................................. 209

Table 35: Mean Student Debt with Respect to Type of Employment ........................................ 210

Table 36: Mean Student Debt with Respect to Work Region..................................................... 212

Table 37: Mean Student Debt with Respect to Practice Ownership by Years from Graduation

..................................................................................................................................................... 213

Table 38: Mean Student Debt with Respect to Type of Community .......................................... 214

Table 39: Mean Student Debt with Respect to Primary Equine Sector...................................... 215

Table 40: Mean Student Debt with Respect to Size of Community ........................................... 216

Table 41: Factors Affecting Educational Student Debt upon Graduation .................................. 218

Table 42: Competency Scores by College Preparedness ............................................................ 221

Table 43: Distribution of Weighted New Veterinarian Debt-to-Income Ratio ........................... 223

Table 44: Factors Affecting Debt-to-Income Ratio ..................................................................... 227

Table 45: Mean Annual Income with Respect to the Number of Years since DVM Graduation 237

Table 46: Mean Annual Income with Respect to Additional Degree Graduation ...................... 238

Table 47: Mean Annual Income with Respect to Internship Participation................................. 239

Table 48: Mean Annual Income with Respect to Residency Participation ................................. 241

Table 49: Mean Annual Income with Respect to Gender ........................................................... 242

Table 50: Mean Annual Income with Respect to Type of Employment ..................................... 243

Table 51: Mean Annual Income with Respect to Region............................................................ 244

Table 52: Mean Annual Income with Respect to Practice Ownership ....................................... 247

Table 53: Mean Annual Income with Respect to Board-Certified Practice Owners and Board-

Certified Associates..................................................................................................................... 248

Table 54: Mean Annual Income with Respect to Primary Equine Sector ................................... 249

Table 55: Factors Affecting Income ............................................................................................ 252

Page 82 of 577



Table 56: Fringe Benefits Received ............................................................................................. 257

Table 57: Fringe Benefits Received with Respect to Gender, Excluding True Solo Practitioners

..................................................................................................................................................... 258

Table 58: Distribution of Equine Primary Assets for Retirement ............................................... 260

Table 59: Distribution of Assets for Retirement among Respondents (select all that apply) .... 260

Table 60: Mean Number of Children in Equine and AVMA Respondents’ Household............... 262

Table 61: Mean Veterinary Educational Debt and Mean Starting Salary of Graduating Seniors,

2010 - 2016 ................................................................................................................................. 272

Table 62: Debt-to-Income and Net Present Value by Gender .................................................... 273

Table 63: Distribution of Equine and AVMA Respondents by Employment Status ................... 277

Table 64: Distribution of Equine and AVMA Respondents by Type of Position in a Non-Clinical

Veterinary Medicine Role ........................................................................................................... 277

Table 65: Mean Number of Hours Worked per Week (Regular and Emergency Hours) by Equine

and AVMA Respondents by Gender ........................................................................................... 278

Table 66: Distribution of Full-Time Employee Equine and AVMA Respondents’ Regular Hours

Worked per Week in Clinical Veterinary Medicine..................................................................... 281

Table 67: Distribution of Equine and AVMA Respondents’ Emergency Hours Worked during a

Typical Week ............................................................................................................................... 282

Table 68: Distribution of Equine and AVMA Respondents’ Part-Time Regular Hours Worked per

Week in Clinical Veterinary Medicine Emergency Hours ........................................................... 283

Table 69: Distribution of Part-Time Equine and AVMA Respondents’ Type of Employment (select

all that apply) .............................................................................................................................. 284

Table 70: Distribution of Equine and AVMA Respondents’ Emergency Hours Worked during a

Typical Week ............................................................................................................................... 285

Table 71: Mean Number of Weeks It Took Equine and AVMA Respondents to Find Their Current

Job ............................................................................................................................................... 287

Page 83 of 577



Table 72: Distribution of Equine and AVMA Respondents’ Number of Job Offers Received before

Choosing Their Current Employment ......................................................................................... 288

Table 73: Distribution of Equine and AVMA Respondents’ Number of Weeks Worked in 2015289

Table 74: Distribution of Equine and AVMA Respondents’ Satisfaction with Current Employment

by Gender.................................................................................................................................... 289

Table 75: Effect of Equine and AVMA Respondents’ Employment Satisfaction by Gender....... 290

Table 76: Distribution of Equine and AVMA Respondents’ Employment Satisfaction by

Graduation Year .......................................................................................................................... 290

Table 77: Mean Employment Satisfaction of Equine and AVMA Respondents by Year of

Graduation .................................................................................................................................. 291

Table 78: Distribution of Equine and AVMA Respondents’ Employment Satisfaction by Practice

Owners and Associates ............................................................................................................... 292

Table 79: Mean Employment Satisfaction of Equine and AVMA Respondents by Practice Owners

and Associates............................................................................................................................. 292

Table 80: Effect of Employment Satisfaction.............................................................................. 294

Table 81: Factors Affecting Respondents’ Desire to Change Current Veterinary Sector (if they

could) .......................................................................................................................................... 306

Table 82: Factors Affecting a Respondents’ Desire to Change the Geographic Location Where

They Work ................................................................................................................................... 314

Table 83: Distribution of Equine and AVMA Respondents’ Retirement Choice......................... 321

Table 84: Distribution of Equine and AVMA Respondents’ Reasons for Retiring Earlier from

Clinical Veterinary Medicine than Anticipated ........................................................................... 322

Table 85: Distribution of Equine and AVMA Respondents’ Reasons for Delaying Their

Retirement .................................................................................................................................. 324

Table 86: Distribution of Equine and AVMA Respondents’ Type of Employment They Are

Primarily Seeking......................................................................................................................... 327

Page 84 of 577



Table 87: Factors Affecting Unemployment ............................................................................... 330

Table 88: Distribution of Equine and AVMA Respondents’ Work Preference by Work Region. 333

Table 89: Reasons Equine and AVMA Respondents Want to Work Less (select all that apply) 358

Table 90: Factors Affecting Underemployment.......................................................................... 362

Table 91: Distribution of AAEP Respondents’ Hospitalization and Surgery as a Result of

Performing Work as a Veterinarian by Gender .......................................................................... 378

Table 92: Distribution of How AAEP Respondents’ Health Limited Vigorous and Moderate

Activities by Graduation Year...................................................................................................... 380

Table 93: Distribution of AAEP Respondents’ Feelings on Accomplishing and Feeling Limited in

Work and Other Activities as a Result of Their Physical Health by Gender................................ 381


Work and Other Activities as a Result of Their Physical Health by Graduation Year ................. 382


Work and Other Activities as a Result of Their Emotional State by Gender .............................. 384


Work and Other Activities as a Result of Their Emotional State by Graduation Year ................ 385

Table 97: Distribution of AAEP Respondents’ Bodily Pain and Pain Interference during the Past

Four Weeks by Gender................................................................................................................ 386

Table 98: Raw Scores to ProQOL T-Score Conversion Chart ...................................................... 390

Table 99: Mean Equine and AVMA Respondents’ Compassion Satisfaction Score by Graduation

Year ............................................................................................................................................. 395

Table 100: Mean Equine and AVMA Respondents’ Compassion Satisfaction Score by Gender 395

Table 101: Mean Equine and AVMA Respondents’ Compassion Satisfaction Score by Internship

..................................................................................................................................................... 396

Table 102: Mean Equine and AVMA Respondents’ Compassion Satisfaction Score by Practice

Ownership ................................................................................................................................... 397

Page 85 of 577



Table 103: Mean Equine and AVMA Respondents’ Compassion Satisfaction Score by Board

Certification................................................................................................................................. 398

Table 104: Mean Equine and AVMA Respondents’ Compassion Satisfaction Score by

Professional Income.................................................................................................................... 399

Table 105: Mean Equine and AVMA Respondents’ Compassion Satisfaction Score by Veterinary

Educational Debt......................................................................................................................... 400

Table 106: Mean AAEP Respondents’ Compassion Satisfaction Score by Primary Equine Sector

..................................................................................................................................................... 400

Table 107: Mean AAEP Respondents’ Compassion Satisfaction Score by Business Model ....... 401

Table 108: Factors Affecting Compassion Satisfaction ............................................................... 404

Table 109: Mean Equine and AVMA Respondents’ Burnout Score by Graduation Year ........... 408

Table 110: Mean Equine and AVMA Respondents’ Burnout Score by Gender .......................... 408

Table 111: Mean Equine and AVMA Respondents’ Burnout Score by Internship ..................... 409

Table 112: Mean Equine and AVMA Respondents’ Burnout Score by Practice Ownership ...... 410

Table 113: Mean Equine and AVMA Respondents’ Burnout Score by Board Certification ....... 410

Table 114: Mean Equine and AVMA Respondents’ Burnout Score by Professional Income ..... 411

Table 115: Mean Equine and AVMA Respondents’ Burnout Score by Veterinary Educational

Debt............................................................................................................................................. 412

Table 116: Mean AAEP Respondents’ Burnout Score by Primary Equine Sector ....................... 412

Table 117: Mean AAEP Respondents’ Burnout Score by Business Model ................................. 413

Table 118: Factors Affecting Burnout ......................................................................................... 415

Table 119: Mean Equine and AVMA Respondents’ Secondary Traumatic Stress Score by

Graduation Year .......................................................................................................................... 419

Table 120: Mean Equine and AVMA Respondents’ Secondary Traumatic Stress Score by Gender

..................................................................................................................................................... 419

Page 86 of 577




Internship .................................................................................................................................... 420

Table 122: Mean Equine and AVMA Respondents’ Secondary Traumatic Stress Score by Practice

Ownership ................................................................................................................................... 421

Table 123: Mean Equine and AVMA Respondents’ Secondary Traumatic Stress Score by Board

Certification................................................................................................................................. 421


Professional Income.................................................................................................................... 422


Veterinary Educational Debt....................................................................................................... 423

Table 126: Mean AAEP Respondents’ Secondary Traumatic Stress Score by Primary Equine

Sector .......................................................................................................................................... 423

Table 127: Mean AAEP Respondents’ Secondary Traumatic Stress Score by Business Model .. 424

Table 128: Factors Affecting Secondary Traumatic Stress.......................................................... 426

Table 129: Mean AAEP Respondents’ Equine Quality of Life Questions by Gender .................. 429

Table 130: Distribution of AAEP Respondent Equine Practitioners and the Secondary Equine

Sector They Served ..................................................................................................................... 448

Table 131: Distribution of AAEP Respondent Equine Practitioners’ Average Number of Unique

Horse Patients Serviced in 2015 with Respect to Primary Equine Sector .................................. 449

Table 132: Distribution of AAEP Respondent Equine Practitioners’ Average Number of Unique

Horse Patients Serviced in 2015 That Were Specifically Mares with Respect to Primary Equine

Sector .......................................................................................................................................... 450

Table 133: Which of the following people do you routinely communicate with about clinical

findings in providing care for your patients?.............................................................................. 456

Table 134: Mean Percentage of AAEP Respondents Who Communicate with Type of Client by


Page 87 of 577



Table 135: Percent of Clients Invoiced by AAEP Respondents for Patient Care ........................ 458

Table 136: Mean FTE Associates per Owner Veterinarians at a Practice ................................... 463

Table 137: Mean FTE Staff Support per FTE Veterinarians (Owners plus Associates) ............... 463

Table 138: Distribution of Duties Assigned to Licensed Technicians and Non-Licensed

Technicians at an AAEP Respondents’ Place of Work (select all that apply).............................. 469

Table 139: Distribution of AAEP Respondents’ Primary Practice Business Model In 2015 by


Table 140: Distribution of AAEP Respondents’ Billing of Ambulatory Farm Calls by Primary

Equine Sector .............................................................................................................................. 473

Table 141: Distribution of AAEP Respondents’ Billing of Ambulatory Farm Calls by Business

Model .......................................................................................................................................... 474

Table 142: Mean of AAEP Respondents’ Primary Practice Service Area Radius (in miles) by


Table 143: Mean of AAEP Respondents’ Primary Practice Service Area Radius (in miles) by

Business Model ........................................................................................................................... 476

Table 144: Distribution of AAEP Respondents’ Miles Traveled for Work Each Year While

Practicing Equine Medicine by Primary Equine Sector ............................................................... 477

Table 145: Distribution of AAEP Respondents’ Miles Traveled for Work Each Year While

Practicing Equine Medicine by Business Model ......................................................................... 478

Table 146: Distribution of the Number of Competing Veterinarians in a Service Area by Primary

Equine Sector .............................................................................................................................. 487

Table 147: Distribution of AAEP Respondent Owners’ Buy-Sell Agreement by Practice Size .... 495

Table 148: Factors Affecting Interest in Practice Ownership ..................................................... 498

Table 149: Distribution of AAEP Respondents’ Method of Compensation for Their Work as a

Veterinarian ................................................................................................................................ 501

Page 88 of 577



Table 150: Distribution of AAEP Respondents’ Compensation Method of Associates by Primary

Equine Sector .............................................................................................................................. 502

Table 151: Distribution of AAEP Respondents’ Compensation Method of Associates by Business

Model .......................................................................................................................................... 503

Table 152: Distribution of AAEP Respondent Compensation Method of Owners by Primary

Equine Sector .............................................................................................................................. 505

Table 153: Distribution of AAEP Respondent Compensation Method of Owners by Business

Model .......................................................................................................................................... 507

Table 154: Distribution of AAEP Respondents’ Revenue Production Compensation ................ 511

Table 155: Distribution of AAEP Respondents’ Compensation of Practice Management Duties by

Practice Type ............................................................................................................................... 517

Table 156: Mean Personal Gross Revenue of Production of Equine and AVMA Respondents by

Owner and Associate .................................................................................................................. 519


Graduation Year .......................................................................................................................... 521


Gender......................................................................................................................................... 524


Income......................................................................................................................................... 526

Table 160: Mean Personal Gross Revenue of Production of AAEP Respondents by Number of

FTE Veterinarians in a Practice ................................................................................................... 530

Table 161: Mean Practice Gross Revenue of Production of AAEP Respondents by Practice Type

..................................................................................................................................................... 533

Table 162: Practice Gross Revenue of Production of AAEP Respondents by Primary Equine

Sector .......................................................................................................................................... 534

Table 163: Practice Gross Revenue of Production of AAEP Respondents by Business Model... 535

Page 89 of 577



Table 164: Median 2015 Practice Expenses/Deductions of AAEP Respondents by Practice Type

..................................................................................................................................................... 551

Table 165: Mean 2015 Practice Expenses/Deductions of AAEP Respondents by Number of FTE

Veterinarians in a Practice .......................................................................................................... 552

Table 166: Mean 2015 Practice Expenses/Deductions of AAEP Respondents by Primary Equine

Sector .......................................................................................................................................... 553

Table 167: Mean 2015 Practice Expenses/Deductions of AAEP Respondents by Business Model

..................................................................................................................................................... 554

Table 168: Mean Current Ratio of AAEP Respondents by Practice Type ................................... 556

Table 169: Mean Current Ratio of AAEP Respondents by Number of FTE Veterinarians in a

Practice........................................................................................................................................ 557

Table 170: Mean Current Ratio of AAEP Respondents by Primary Equine Sector ..................... 558

Table 171: Mean Current Ratio of AAEP Respondents by Business Model................................ 559

Table 172: Mean Percent Revenue Received from Services Performed by AAEP Respondents 561

Table 173: Mean Percent Revenue Received from Services Performed by AAEP Respondents by


Table 174: Mean Percent Revenue Received from Services Performed by AAEP Respondents by

Business Model ........................................................................................................................... 564

Table 175: Economic Impacts of Equine Veterinary Practice on Employment .......................... 569

Table 176: Economic Impacts of Equine Veterinary Practice on Labor Income ......................... 570

Table 177: Economic Impacts of Equine Veterinary Practice on Total Value Added ................. 571

Table 178: Economic Impacts of Equine Veterinary Practice on Output ................................... 572

Table 179: Economic Impacts of Equine Veterinary Practice on State and Local Tax Revenues 573

Table 180: Economic Impacts of Equine Veterinary Practice on Federal Tax Revenues............ 573

Page 90 of 577



SECTION 1: GENERAL ECONOMIC CONDITIONS

Animal owners are the driving force for demand in the veterinary services markets. Like all

consumers, their willingness to pay for goods and services is influenced by their level of income.

Assuming that animal owners’ demographic characteristics cannot be distinguished from those

of non-animal owners, national information on disposable income and personal consumption

expenditures provides us with an accurate picture of their economic condition. Because there is

generally a very close relationship between growth in the general economy and growth in

household disposable income and personal consumption expenditures, changes to the general

U.S. economy over a long period of time serve as an important indicator of changes to the

demand for veterinary services.

The performance of the U.S. economy, specifically the U.S. economy’s ability to create

disposable income for residents of the United States, has a major impact on the performance of

the veterinary profession. At the end of 2017, the Gross Domestic Product (GDP) for the U.S.

economy stood at $19.754 trillion, a growth of 4.1 percent over the same period in 2016, but

only a 2.3 percent increase after adjusting for inflation. The real growth in the GDP is the key

performance indicator (KPI) for the U.S. economy, and over the last six years (since the recovery

began in 2012) the average annual rate of growth has been 2.2 percent – a rate that can be

seen as low in comparison to previous economic expansions (Figure 3). Expenditures on goods

and services accounted for $13.654 trillion, with services alone accounting for $9.252 trillion.

Gross private domestic spending accounted for $3.295 trillion of total GDP, while government

spending and investments accounted for $3.406 trillion. Net exports of goods and services

accounted for the remainder of total GDP (Bureau of Economic Analysis).

Page 91 of 577



Figure 3: Economy Key Performance Indicator - Real Gross Domestic Product, 1930-20174

1.1 BUSINESS CYCLE INDEX

The U.S. economy and all sectors within it experience periods of contraction (recessions) and

expansion (growth). A contraction technically occurs when the economy experiences two

consecutive quarters of negative GDP growth and remains until the economy experiences a

quarter of positive GDP growth.

Historically, the average period of contraction has been 11 months and the average period of

expansion has been 61 months for an average length of cycle (peak to peak) of 72 months. The

last recession began in December of 2007 and ended in June of 2009 (18 months), making this

the longest recessionary period in the last 10 business cycles. The current expansion period has

reached 100 months (as of January 2017), well above the 61-month average period of

4 Source: Federal Reserve Bank of St. Louis, https://fred.stlouisfed.org/series/GDPC1

-15%

-10%

-5%

0%

5%

10%

15%

20%

25%

1930 1950 1970 1990 2010

Perc

ent C

hang

e fr

om P

revi

ous Y

ear

Year

Economy KPI

Real Gross Domestic Product, 1930-2017

Page 92 of 577



expansion but still below the expansion period of recent economic expansions. While the

length of the expansion should not be seen to be a predictor of a recession, the factors that

lead to a recession do appear to occur generally within a decade. At this point in the current

economic expansion, the probability of continued expansion will decline with each month

(Table 1).

Table 1: Length of U.S. Business Cycles, 1953-2009

Recession Periods Peak to trough Previous trough to this peak

July 1953 - May 1954 10 45 August 1957 - April 1958 8 39 April 1960 - February 1961 10 24 December 1969 - November 1970 11 106 November 1973 - March 1975 16 36 January 1980 - July 1980 6 58 July 1981 - November 1982 16 12 July 1990 - March 1991 8 92 March 2001 - November 2001 8 120 December 2007 - June 2009 18 78 Average, 1953-2009 (10 cycles) 11 61 Current Cycle 100 Predicted Cycle 112 - 120

Personal consumption expenditures comprise two-thirds of the U.S. economy, representing

$13.654 trillion of the $19.754 trillion economy in the the fourth quarter of 2017. As noted

earlier, services make up two-thirds of personal consumption expenditures at $9.252 trillion,

while goods comprise the remaining third at $4.402 trillion. Goods can be further

disaggregated into non-durable goods (e.g., food and clothing) and durable goods (e.g.,

automobiles and appliances). Non-durable goods represented $2.884 trillion of personal

consumption expenditures in the fourth quarter of 2017 and durable goods represented $1.518

trillion (Bureau of Economic Analysis). The durable goods component of the economy, while

relatively small, is an important component influencing the business cycle. Services and non-

Page 93 of 577



durable goods are items that consumers need continuously and thus are unable to eliminate

entirely during a recession. However, durable goods purchases can be minimized by extending

the life of current durable items through repairs.

The business cycle can be described simply as the build-up and draw-down of inventories. At

the bottom of a recession, businesses have more excess capacity than optimum. They may have

laid off employees or reduced employee hours in an attempt to reduce production until

accumulated inventories are drawn down. As inventories are reduced such that production plus

inventories can no longer meet demand, the business must begin to increase production. The

increased production will require increased work hours or number of employees, reducing the

amount of excess production capacity of the firm. The increasing number of employees and

hours worked stimulates the demand for more products and the business must increase

production again. During this economic expansion, firms work to fill orders, increasing

economic activity. Eventually, consumers have all the new durable goods they need and

inventories start to accumulate. This sends a signal to businesses to begin to cut back

production and a new economic contraction occurs. This business cycle is highly dependent on

the demand for durable goods and the amount of inventories of these goods relative to that

demand. As noted earlier, this demand depends on consumer or household incomes.

Real median household incomes rose sharply from the post-recession low of $52,666 to a high

of $59,039 in 2016. This number surpassed both the 2015 real median household income of

$56,516 and the pre-recession high of $57,909. The increasingly tight labor market, with an

unemployment rate reaching 4.1 percent at the end of 2017, suggests further advances in

median household incomes will occur. Increasing household incomes contribute to GDP

growth, and recessions only occur as household incomes fall. This would suggest that GDP will

Page 94 of 577



continue to grow through 2018 until household incomes reach a peak and then begin to

decline (Figure 4).

Figure 4: Real Median Household Income in the United States, 1984-20165

1.2 INDEX OF LEADING ECONOMIC INDICATORS

While the rate of growth in real GDP provides the best indicator of the current health of the

general economy, the Conference Board’s Leading Economic Index (LEI) may provide the best

indicator of the near future performance of the general economy.

5 Source: Federal Reserve Bank of St. Louis and the U.S. Census Bureau, https://fred.stlouisfed.org/series/MEHOINUSA672N

$57,909

$52,666

$59,039

$48,000 $49,000 $50,000 $51,000 $52,000 $53,000 $54,000 $55,000 $56,000 $57,000 $58,000 $59,000 $60,000

2015

CPI

-U-R

S Ad

just

ed D

olla

rs

Year

Real Median Household Income in the United States, 1984-2016

Periods of Recession

Estimate Relationship $1,000 RMHI = $1,800 Veterinary Income

Page 95 of 577



Following the Great Depression of the 1930s, economists were eager to identify an early

warning system that would enable businesses and governments to prepare for an impending

recession. In the mid-1940s several economists identified repeating periods of business

expansion and contraction and called them “business cycles.” The National Bureau of Economic

Research began to research the development of a Business Cycle Indicator (BCI) to predict

turning points in business cycles.

The Conference Board currently provides three BCIs. The Conference Board is a global

independent business membership and research association working in the public interest. The

three indicators leading, coincident and lagging provide a forward, current, and past look at

the performance of the economy, respectively.

The Composite Index of Leading Economic Indicators (LEI) incorporates data from 10 different

economic data time series that have been demonstrated to have peaked or bottomed in

advance of economic expansions or contractions. Each component of the 10 economic series is

weighted based on its relative predictive strength to produce the index of indicators. The

Conference Board produces a monthly value for the LEI and typically reports this on the third

Thursday of every month.

The chart below shows the LEI for the most recent 17-year period, with the gray vertical bars

indicating periods of recession. The most recent recession began in December 2007 and ended

June 2009. The LEI peaked in March 2006 and thus the decline in the LEI began 21 months prior

to the last recession. The LEI continued to advance through December 2017, exceeding the

peak before the last recession. However, the rate of increase in the LEI has declined over the

last two years and may foretell the apex in the business cycle. The continued rise in the LEI

through December of 2017 would indicate that the economy is likely to continue to expand into

2018; however, without some major change in the economy (e.g., government stimulus or

http://www.investopedia.com/terms/p/peak.asp

http://www.investopedia.com/terms/b/bottom.asp

Page 96 of 577



increased exports) the probability of a recession is beginning to increase with each passing

month beyond the end of 2017 (Figure 5).

Figure 5: The Conference Board's Leading Economic Index

The Federal Reserve Bank has a leading economic indicator that is also used to predict turning

points in the business cycle. The post-recession movement of this indicator appears to be

relatively flat following the post-recession rise. Following previous post-recession periods the

Federal Reserve indicator maintained a value between 1 and 2 for the duration of the economic

expansion (Figure 6).

707580859095

100105110

Inde

x Va

lue,

200

4=10

0

Year

The Conference Board's Leading Economic Index (LEI)

Page 97 of 577



Figure 6: Leading Index for the United States, Percent, Monthly, Seasonally Adjusted, 1982-20176

On closer examination of the Federal Reserve indicator over the post-recession period, a

change in direction of the indicator can be seen to have occurred after reaching a peak in

August of 2014. Since then the indicator has been on a definitive downward path, suggesting

that the economic expansion may have reached or is reaching its peak and the growth rate in

GDP has been continuing to decline (Figure 7).

6 Source: Federal Reserve Bank of St. Louis, https://fred.stlouisfed.org/series/USSLIND

-4.00

-3.00

-2.00

-1.00

0.00

1.00

2.00

3.00

4.00

Lead

ing

Inde

x

Year

Leading Index for the United States, Percent, Monthly, Seasonally Adjusted, 1982-2017

Page 98 of 577



Figure 7: Leading Index for the United States, Percent, Monthly, Seasonally Adjusted, 2009-20177

To estimate the change in economic factors in the veterinary markets (e.g., veterinary incomes)

we use the forecast of GDP, interest rates and other economic factors from the Congressional

Budget Office (CBO). The CBO is a non-partisan congressional support agency tasked with

producing a long-term (10-year) outlook of economic variables specifically for the use of

determining how changes in federal government policies may affect the federal budget. The

CBO examines current economic policies, factors and trends to develop an annual economic

forecast based on extended baseline projections.

CBO provides its 10-year forecast each January and a mid-term forecast in August of each year

and these forecasts are publically available. We have compared the last five 10-year CBO

forecasts to illustrate the difference between early expansion and current expectations. The

7 Source: Federal Reserve Bank of St. Louis, https://fred.stlouisfed.org/series/USSLIND

0.30

0.50

0.70

0.90

1.10

1.30

1.50

1.70

1.90

2.10

2.30

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Lead

ing

Inde

x

Year

Leading Index for the United States, Percent, Monthly, Seasonally Adjusted, 2009-2017

August 2014

Page 99 of 577



2013 forecast expected that, under current policies, the economic growth rate would

accelerate to 4.4 percent annual growth by 2016, and then decline by 0.6 percent in 2017 to 3.8

percent. Each year the forecast for 2017 was reduced until the January 2017 forecast expected

the 2017 annual GDP growth rate of 2.3 percent, well below the earlier prediction of 3.8

percent. This suggests that, based on historic responses to economic conditions and with the

economy not performing as expected under current policy, some historic economic

relationships were not sustained over the five years. Further, while the CBO’s 10-year forecast

predicted strong economic growth that moderated to a longer-term growth rate around 2.0

percent, the 2017 forecast indicates a decline in GDP growth rates below 2 percent in the near

term and lower longer-term growth rates. These lower estimates of future GDP growth rates

suggest slower growth in the demand for veterinary services and thus lower veterinary incomes

(Figure 8).

Figure 8: Congressional Budget Office 10-Year Baseline Forecast of U.S. GDP

3.8

3.0

2.52.6

2.3

1.0

1.5

2.0

2.5

3.0

3.5

4.0

4.5

5.0

Real

GDP

Gro

wth

Rat

es

Year

Congressional Budget Office 10-Year Baseline Forecast of U.S. GDP

2013

2014

2015

2016

2017

Page 100 of 577



SECTION 2: DEMOGRAPHICS





Equine - main sample (81 equine respondents from AVMA + 975 AAEP) 1,056

2.1 DEMOGRAPHICS OF RESPONDENTS

Who are the equine practitioners? By comparing the population of AAEP members with the

AVMA sample, differences between the groups may be observed. While the demographics of

Equine are generally similar to the AVMA, some differences exist.

2.1.1 Year of Graduation and Age

The distribution of respondents by year of graduation is shown in Figure 9. Generations of

veterinarians from the 1950s to 2016 are included in this analysis; 59.6 percent of Equine

respondents graduated before 2007, and 40.4 percent after 2007. Considering just AAEP

members, 70.1 percent graduated before 2007, and 29.9 percent after 2007. In contrast, 55.7

percent of AVMA respondents graduated before 2007, and 44.3 percent after 2007.

Page 101 of 577



Figure 9: Distribution of Equine Respondents, AVMA Respondents and AAEP Members by Graduation Year

The distribution of Equine respondents by age (Figure 10) differs from those of the AVMA.

There are more AAEP members over the age of 51 years (48.1 percent) than Equine

respondents (38.2 percent) or AVMA respondents (26.5 percent). The mean age of all three

groups is approximately 46 years (AAEP members: 48.6; Equine: 45.7; AVMA: 42.7). The

average age of male Equine respondents was 54.9 years, with a median of 58 years. In

comparison, female Equine respondents were an average of 39.2 years of age, with a median of

35 years. Mean years of experience were 29.0 for Equine males, and 12.3 for Equine females.

1966 orprior

1967-1976

1977-1986

1987-1996

1997-2006

2007-2011

2012-2016

AAEP (n=7,074) 3.0% 9.8% 18.2% 18.7% 20.4% 13.8% 16.2%Equine (n=1,040) 2.3% 8.9% 16.0% 16.4% 16.2% 17.2% 23.2%AVMA (n=7,074) 3.2% 4.4% 7.6% 14.5% 26.0% 20.3% 24.0%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

% o

f Res

pond

ents

Distribution of Respondents and AAEP Members by Graduation Year

Page 102 of 577



Figure 10: Distribution of Equine Respondents, AVMA Respondents and AAEP Members by Age

2.1.2 Veterinary Medical College Attended

The distribution of respondents by veterinary medical college attended is shown in Table 2. A

strong majority of respondents (Equine: 90.4 percent; AVMA: 85.3 percent) graduated from a

U.S. veterinary college and the remaining graduated from an AVMA-accredited school outside

of the United States. A breakdown of the respondent sample by college of study finds that the

largest share of the Equine sample that graduated from veterinary colleges inside of the United

States was University of California-Davis (7.8 percent), followed by Colorado State University

(7.4 percent), with the least number of respondents reporting graduating from Tuskegee

University (0.8 percent). Likewise, the largest share of AVMA respondents that graduated from

veterinary colleges inside of the U.S. was The Ohio State University (5.5 percent), followed by

Texas A&M University (4.2 percent).

0.0%

10.0%

20.0%

30.0%

40.0%

25-30 31-40 41-50 51-60 61 + Missing

% o

f Res

pond

ents

Age

Distribution of Respondents and AAEP Membership by Age

AAEP Membership (n=7,432) Equine (n=1,056) AVMA (n=2,545)

Page 103 of 577



Table 2: Distribution of Equine and AVMA Respondents by Veterinary College

Veterinary College Equine AVMA

Auburn University 4.4% 3.3% Colorado State University 7.4% 4.1% Cornell University 4.8% 3.5% Iowa State University 3.1% 4.1% Kansas State University 4.6% 4.1% Louisiana State University 1.5% 2.3% Michigan State University 2.3% 4.1% Mississippi State University 1.1% 1.8% North Carolina State University 2.5% 2.6% Oklahoma State University 3.7% 2.0% Oregon State University 1.4% 1.3% Purdue University 2.5% 2.4% Texas A&M University 4.4% 4.2% The Ohio State University 5.4% 5.5% Tufts University 2.6% 3.0% Tuskegee University 0.8% 1.2% University of California-Davis 7.8% 4.0% University of Florida 3.1% 2.0% University of Georgia 3.2% 3.9% University of Illinois 2.8% 3.6% University of Minnesota 3.0% 3.4% University of Missouri-Columbia 3.3% 2.8% University of Pennsylvania 5.3% 4.1% University of Tennessee 1.1% 2.3% University of Wisconsin 2.3% 2.7% Virginia-Maryland College 2.3% 3.2% Washington State University 2.6% 2.6% Western University of Health Sciences 1.1% 1.2% Other 9.6% 14.7% Total 100.0% 100.0%

Page 104 of 577



2.1.3 Gender

58.4 percent of the Equine respondents were female, and 41.6 percent were male (Figure 11).

AAEP Members are 48.0 percent female and 52.0 percent male. The AVMA respondents show a

distribution of 67.8 percent female to 32.2 percent male.

Figure 11: Distribution of Equine Respondents, AVMA Respondents and AAEP Members by Gender

The distribution of the Equine sample and AAEP members sample by age and gender of

respondents is provided in Figure 12. This shows an inverse relationship between gender and

age in both samples. Although the Equine sample was significantly smaller (1,046) than the

AAEP members database (7,262), the breakdown within the samples was quite similar. Equine

respondents over the age of 60 were predominantly men (81.5 percent). Females were

predominant among Equine respondents younger than 60, representing nearly 65 percent of

practitioners in the 30- to 60-year-old group, and 83 percent of practitioners younger than 30

years. This trend was also evident in the AVMA sample.

52.0% 48.0%41.6%

58.4%

32.2%

67.8%

Male Female

% o

f Res

pond

ents

Gender

Distribution of Respondents and AAEP Members by Gender

AAEP Membership (n=7,262) Equine (n=1,046) AVMA (n=2,390)

Page 105 of 577



17.0%

34.7%

81.5%83.0%

65.3%

18.5%

Less than 30 years 30 to 60 years Over 60 years% o

f Res

pond

ents

by

Gend

er

Age

Distribution of Equine Respondents by Gender and Age

Male (n=3,615) Female (n=3,433)

15.0%

44.0%

84.3%85.0%

56.0%

15.7%

Less than 30 years 30 to 60 years Over 60 years

% o

f Res

pond

ents

by

Gend

er

Distribution of AAEP Members by Gender and Age


Page 106 of 577



Figure 12: Distribution of Equine Respondents, AVMA Respondents and AAEP Members by Gender and Age

18.8%27.3%

78.5%81.2%72.7%

21.5%

Less than 30 years 30 to 60 years Over 60 years

% o

f Res

pond

ents

by

Gend

erDistribution of AVMA Respondents by Gender and Age

Male (n=767) Female (n=1,617)

Page 107 of 577



2.1.4 Type of Employment

A wide range of practice types (Figure 13) was represented among the Equine respondents. The

majority were practicing as exclusively equine veterinarians (64.9 percent), while the majority

of AVMA respondents were in companion animal practice (63.9 percent). Of Equine

respondents who were not in an equine practice (exclusive or predominant), most were in

mixed animal practice (11.6 percent), with the second largest group in the category employed

at a college or university. If AVMA respondents were not in companion animal practice, they

were employed most commonly at a college or university (8.8 percent), followed by a mixed

animal practice (5.5 percent).

Figure 13: Distribution of Equine and AVMA Respondents by Type of Employment

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

% o

f Res

pond

ents

Type of Employment

Distribution of Respondents by Type of Employment

Equine (n=813) AVMA (n=2,275)

Page 108 of 577



2.1.5 Racial/Ethnic Group

Of the Equine respondents, 94.5 percent were classified as Caucasian (Figure 14) and among

respondents in the AVMA dataset, 89.2 percent Caucasians were represented. Non-Caucasians

represented 5.5 of Equine respondents, compared to 10.8 percent among AVMA respondents.

Figure 14: Distribution of Equine and AVMA Respondents by Racial/Ethnic Group

The ethnicity of Equine respondents is segmented by age in Figure 15. In the Caucasian group,

each generation was represented, with 30- to 39-year-olds having a slightly higher

representation than the other age groups. Among the Hispanic/Latino, Multi-racial/Ethnic

group, the majority of respondents are in their 30s. The African American, American Indian and

Alaskan Native groups had no representation under 50 years of age; and no representation

from the Native Hawaiian/Pacific Islander ethnicity was seen in any age group. Of Equine

89.2%

1.4%

0.9%

3.0%

0.3%

3.4%

1.7%

94.5%

0.2%

0.2%

0.4%

0.0%

2.1%

2.6%

Caucasian

African American

American Indian & Alaska Native

Asian

Native Hawaiian/Pacific Islander

Hispanic/Latino

Multi-racial/Ethnic

% of Respondents

Racia

l/Et

hnic

Grou

p

Distribution of Respondents by Racial/Ethnic Group

Equine (n=1,038) AVMA (n=2,375)

Page 109 of 577



respondents who identified as Asian, 50 percent were under 30 years old. A greater variety of

ages across racial/ethnic groups was represented in the AVMA sample than in the Equine

sample.

14.6%

50.0%

9.1% 18.5%

30.2%

25.0%

45.5% 33.3%

14.8%22.7%

14.8%17.7%

50.0%

9.1%11.1%

22.7%

100.0%

50.0%25.0% 13.6% 22.2%

0%10%20%30%40%50%60%70%80%90%

100%

% o

f Res

pond

ents

Racial/Ethnic Group

Distribution of Equine Respondents by Age and Racial/Ethnic Group (n=970)

Less than 30 30-39 years 40-49 years 50-59 years 60+ years

Page 110 of 577



Figure 15: Distribution of Equine and AVMA Respondents by Age and Racial/Ethnic Group

2.1.6 Regional Distribution

The United States Postal Service defines nine regions in the United States; the first numbers of

USPS’ area ZIP codes correspond to these nine regions (Figure 16). These regions are not only

different geographically, but were also found to have significant differences in past analysis by

the AVMA with regard to debt, income, unemployment and underemployment.

14.7% 17.2% 16.9% 19.2% 11.4%

36.8% 31.0%50.0%

47.7%

50.0%

48.1%50.0%

17.4% 20.7%

21.5% 50.0% 13.5% 20.5%17.3% 17.2%9.2% 15.4% 11.4%13.8% 13.8%

50.0%

4.6% 3.8% 6.8%

% o

f Res

pond

ents

Racial/Ethnic Group

Distribution of AVMA Respondents by Age and Racial/Ethnic Group (n=2,371)

Less than 30 30-39 years 40-49 years 50-59 years 60 + years

Page 111 of 577



U.S. Postal Service Regions of the United States

Figure 16: U.S. Postal Service Regions of the United States

The distribution of Equine respondents based on the region where their work was primarily

performed is shown in Figure 17, which reflects representation across all nine regions. Region 9

constituted the highest proportion of respondents, with 14.8 percent, followed by Region 3 at

12 percent. The regionswith the lowest participation were Regions 5 and 6 with 6.4 percent and

6.6 percent, respectively. When compared to the AVMA dataset, similarities as well as

differences emerged. Among AVMA respondents, the top region in which respondents primarily

worked was the same as AAEP: Region 9 at 13.7 percent, and the least number of respondents

in AVMA also came from Region 5 (7.4 percent). However, 3 percent more of the respondents

Page 112 of 577



from the Equine sample worked in Region 8, 1.9 percent fewer worked in Region 2, and 2.8

percent fewer worked in Region 6 than did AVMA respondents.

Figure 17: Distribution of Equine and AVMA Respondents by U.S. Region of Employment

Region 0, 8.4%

Region 1, 8.9%

Region 2, 10.9%

Region 3, 12.0%

Region 4, 10.7%Region 5, 6.4%Region 6, 6.6%

Region 7, 10.3%

Region 8, 11.2%

Region 9, 14.8%

Distribution of Equine Respondents by U.S. Region of Employment (n=836)

Region 0, 7.7%

Region 1, 8.8%

Region 2, 12.8%

Region 3, 12.3%

Region 4, 9.9%Region 5, 7.4%

Region 6, 9.4%

Region 7, 9.9%

Region 8, 8.1%

Region 9, 13.7%

Distribution of AVMA Respondents by U.S. Region of Employment (n=2,103)

Page 113 of 577



2.1.7 Living Environment and Work Location

The majority of AVMA respondents indicated they live in a suburban setting, while 51.1 percent

of Equine respondents said they lived in a rural environment (Figure 18).

Figure 18: Distribution of Equine and AVMA Respondents by Living Environment/Community

51.1%

8.8%

40.1%

28.3%

18.7%

53.0%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

Rural Urban Suburban

% o

f Res

pond

ents

Type of Environment/Community

Distribution of Respondents by Living Environment/Community

Equine (n=1,044) AVMA (n=2,391)

Page 114 of 577



When asked where respondents prefer to live, 46.6 percent of the Equine sample reported they

prefer to stay in a rural setting, while 17.6 percent said they prefer to move from a suburban to

a rural environment (Table 3); 37.6 percent of AVMA respondents indicated that they prefer to

stay in suburbia, 25.1 percent expressed that they prefer to stay in a rural environment, and

12.3 percent responded that they prefer to move from a suburban to a rural environment.

Table 3: Distribution of Equine and AVMA Respondents by Desire to Change Living Environment/Community

Desired Change Equine Sample (n=1,044)

AVMA Sample (n=2,391)

Rural to rural (no change) 46.6% 25.1% Rural to suburb 3.5% 2.5% Rural to urban 1.0% 0.8% Suburb to rural 17.6% 12.3% Suburb to urban 1.6% 3.1% Suburb to suburb (no change) 20.9% 37.6% Urban to urban (no change) 3.8% 11.2% Urban to suburb 1.3% 3.2% Urban to rural 3.7% 4.2% Total 100.0% 100.0%

Page 115 of 577



2.1.8 Marital Status

The majority of both Equine and AVMA respondents were married at the time of the survey.

The AVMA respondents had a slightly higher percentage of married practitioners (74.6 percent)

compared to the Equine (70.0 percent). The percentage of respondents who reported being

divorced was 6.1 percent among Equine compared to 5.6 percent for AVMA. The AVMA sample

had a smaller percentage of single, never married, respondents than did the Equine sample

(18.1 percent vs. 22.0 percent) (Figure 19).

Figure 19: Distribution of Equine and AVMA Respondents by Marital Status

70.4%

0.7% 0.9%6.1%

22.0%

74.6%

0.7% 1.1% 5.6%

18.1%

Married/partner Separated Widowed Divorced Single, nevermarried

% o

f Res

pond

ents

Marital Status

Distribution of Respondents by Marital Status

Equine (n=1,046) AVMA (n=2,393)

Page 116 of 577



SECTION 3: THE MARKET FOR VETERINARY EDUCATION





Equine - main sample (81 equine respondents from AVMA + 975 AAEP) 1,056

3.1 SUPPLY OF VETERINARY EDUCATION

The market for veterinary education is an important component of the veterinary industry as

applicants to the veterinary colleges begin the supply chain for providing veterinary services. In

the veterinary education market, potential veterinary students demand the educational

services that the colleges provide. Thus, the schools are the suppliers, the students are the

consumers (or demanders), and the product being exchanged is an education at different price

levels, or tuition. Students who master an appropriate curriculum in veterinary medicine are

equipped with essential tools to succeed in the veterinary industry which in turn promotes the

health of the profession.

There are 30 AVMA-accredited veterinary colleges in the United States, three AVMA-accredited

Caribbean colleges, 16 AVMA-accredited colleges in other countries, and many other non-

AVMA accredited veterinary colleges around the world.

The 2018 AVMA & AAVMC Report on The Market for Veterinary Education reports that the

number of applicants to colleges of veterinary medicine appears cyclical. After reaching a peak

Page 117 of 577



in 2013, with 6,769 applicants, applicants dropped to 6,744 in 2014, and dropped again in 2015

to 6,600. Since then, the number of applicants to veterinary colleges has seen an increase, with

6,667 in 2016, 7,071 in 2017, and 7,507 in 2018 (Figure 20). The last cycle peak occurred in

1998, with 6,783 applicants. The number of 2018 applicants was the highest since 1981.

Specific factors that may be responsible for this set of behaviors have not yet been determined,

and the cyclical pattern may need to be better defined.

Figure 20: Association of American Veterinary Medical Colleges (AAVMC) Veterinary School Applicant Figures, AAVMC Internal Data Reports, 1980-2018 8

8 Source: 2018 AVMA & AAVMC Report on The Market for Veterinary Education

7,286

3,922

6,783

4,440

6,769

6,600

7507

-

2,000

4,000

6,000

8,000

10,000

Num

ber o

f Rep

orte

d Ap

plica

nts

Year

AAVMC Veterinary School Applicant FiguresAAVMC Internal Data Reports

1980-2018

19 years 20 years

Page 118 of 577



3.2 NORTH AMERICAN VETERINARY LICENSING EXAM

Veterinarians who intend to practice veterinary medicine are required to pass the North

American Veterinary Licensing Exam (NAVLE) administered by the International Council for

Veterinary Assessment (ICVA). Figure 21 shows the national NAVLE pass rate.

Figure 21: North American Veterinary Licensing Exam National Pass Rate 9

After a student graduates from a U.S.-accredited veterinary college and passes the NAVLE they

are then eligible to obtain a state license to practice veterinary medicine. Among the Equine

respondents, 92.0 percent (AVMA: 93.0 percent) reported having a license to practice. 67.2

percent of Equine respondents with a license to practice veterinary medicine graduated within

the past 20 years and 32.8 percent graduated more than 20 years ago. In contrast, 72.1 percent

of AVMA respondents with a license to practice graduated within the past 20 years, and 27.9

percent graduated more than 20 years ago.

9 Source: NAVLE http://www.vetmed.vt.edu/academics/dvm/navle-pass-rates.asp

96% 96%95%

96%95% 95%

2011/12 2012/13 2013/14 2014/15 2015/16 2016/17

Pass

Rat

e (%

)

Year

North American Veterinary Licensing Exam National Pass Rate

Page 119 of 577



3.3 SUPPLY OF SEATS FROM AVMA-ACCREDITED SCHOOLS

The expected supply for seats at AVMA-accredited schools is approximately 3,300 seats per

year at the 30 U.S. colleges, 490 at the three Caribbean colleges, and more than 700 at the 16

U.S.-accredited foreign colleges. There is no information to suggest that the supply of seats at

these 49 veterinary colleges will increase; therefore a constant number of seats beyond 2019

are forecasted (Figure 22).

Figure 22: U.S. Veterinary Graduates, All Sources, 1980-202510

10 Source: 2018 AVMA & AAVMC Report on The Market for Veterinary Education

0

1000

2000

3000

4000

5000

Num

ber o

f Gra

duat

es

Year

U.S. Veterinary Graduates, All Sources, 1980-2025

U.S. Graduates Caribbean GraduatesForeign Graduates Total Graduates

Page 120 of 577



3.4 THE COST OF VETERINARY EDUCATION

The average annual tuition and fees for the 30 veterinary medical colleges in the United States

have more than doubled, from $10,549 in 1999 to $27,096 in 2015 (“2016 Report on Veterinary

Markets,” 2016). The tuition/fees for completing the DVM/VMD degree at the U.S. veterinary

medical colleges and the total cost (tuition and fees, plus housing, transportation, school

supplies, and food) are presented in Table 4 for 2017. Among the most costly colleges for the

four-year program are Tuskegee Univeristy ($337,007), University of Pennsylvania ($300,588),

and Western University of Health Sciences ($288,868). The least expensive schools are Purdue

University ($138,637), followed by University of Georgia ($146,586), and Oklahoma State

University ($152,370). Of the Equine respondents (refer back to Table 2), 7.8 percent graduated

from University of California-Davis, which falls near the top of tuition rank, with tuition and fees

at $128,174 and total costs of $239,770.

Page 121 of 577



Table 4: Tuition/Fees and Total Cost of a DVM Degree by Veterinary School 11

Veterinary School Total Cost Tuition & Fees

Tuskegee University $337,007 $155,523 University of Pennsylvania $300,588 $170,788 Western University of Health Sciences $288,868 $196,770 Tufts University $258,129 $173,177 University of California-Davis $239,770 $128,174 The Ohio State University $226,730 $135,866 University of Minnesota $213,088 $145,456 Michigan State University $212,977 $123,377 Cornell University $201,007 $129,007 University of Florida $200,741 $115,148 Louisiana State University $195,995 $98,027 University of Illinois $195,856 $119,544 University of Tennessee $188,400 $105,040 Texas A&M University $182,910 $90,494 Colorado State University $180,851 $112,667 University of Missouri-Columbia $176,669 $92,677 Kansas State University $173,368 $100,268 Virginia-Maryland College $172,446 $92,602 North Carolina State University $171,542 $71,066 Auburn University $169,933 $82,369 University of Wisconsin $163,324 $81,776 Oregon State University $162,735 $90,663 Washington State University $161,904 $89,506 Mississippi State University $153,774 $81,358 Iowa State University $152,978 $98,750 Oklahoma State University $152,370 $77,170 University of Georgia $146,586 $74,106 Purdue University $138,637 $79,267

11 Source: 2018 AVMA & AAVMC Report on the Market for Veterinary Education

Page 122 of 577



3.5 DISTRIBUTION OF NEW VETERINARIANS

While they are in veterinary school, all students begin a common curriculum and learn the same

fundamentals of veterinary medicine. In their third and fourth years, veterinary students gain

similar hands-on experience, though some schools allow limited tracking for students

interested in a particular species or practice type. Because veterinary licenses are not species-

specific, students must be competent in all species in order to successfully pass the NAVLE.

Sometimes it is not until they leave veterinary school and decide to participate in an internship

and then possibly a residency that new veterinarians gain specialized experience in the

species or practice area they are interested in focusing on exclusively. Alternatively, some new

DVMs decide to begin practicing without further education. Because there is no hard measure

to identify which students enter veterinary college with the intention of practicing equine

medicine, it is difficult to estimate the demand among students to enter the field. Data from

the American Association of Veterinary Medical College‘s poll of veterinary school applicants

suggest, however, that 57.4 percent of applicants develop an interest in veterinary medicine at

the age of 10 or younger, and that 37.5 percent desire to have an equine practice career path

(Table 5; Figure 23). It is unclear how many of these equine-oriented applicants are ultimately

successful in gaining a seat at a veterinary medical college.

Table 5: Distribution of Veterinary School Applicants’ Age When They Develop an Interest in Veterinary Medicine 12

Age Percent

10 or younger 57.4% 11-16 20.4% 17-25 18.1% Over 25 4.1%

12 Source: American Association of Veterinary Medical College’s Poll of Veterinary School Applicants, 2016

Page 123 of 577



Figure 23: Distribution of Veterinary School Applicants and Their Desired Career Path13

What is known is how many recent graduates of veterinary medical colleges have entered the

equine profession in the past 16 years. Figure 24 presents the number of veterinary graduates

reporting their first full-time employment in equine practice after graduation. Figure 25

compares first full-time employment in equine practice with other full-time private practice

types.

13 Source: American Association of Veterinary Medical College’s Poll of Veterinary School Applicants, 2016

65.9%

41.0%37.5%

31.6%28.4%

26.6%23.9%

22.1%12.2%

5.3%0.1%

Private PracticeProduction/Large Animal

EquineResearch

Shelter MedicinePublic Health

TrainingFederal Government

Corporate Veterinary MedicinePublic Policy

Other Career PathPercentage of Interested Applicants

Care

er P

ath

Distribution of Veterinary School Applicants and Their Desired Career Path

Page 124 of 577



Figure 24: Distribution of New Veterinarians in Equine Private Practice 14

Figure 25: Distribution of New Veterinarians in Private Practice 15

14 Source: 2018 AVMA & AAVMC Report on The Market for Veterinary Education 15 Source: 2018 AVMA & AAVMC Report on The Market for Veterinary Education

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017Equine practice 3.5% 4.0% 5.7% 3.6% 4.7% 4.7% 4.1% 3.3% 4.0% 2.0% 2.5% 1.6% 2.1% 1.4% 1.2% 1.3% 1.1%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

% o

f Gra

duat

ing

Seni

ors

Distribution of New Veterinarians in Equine Private Practice

Equine practice

0%5%

10%15%20%25%30%35%40%45%

% o

f Res

pond

ents

Year

Distribution of New Veterinarians in Private Practice

Food animal practice(exclusive)

Food animal practice(predominant)

Mixed practice

Companion animal(predominant)

Companion animal(exclusive)

Equine practice

Page 125 of 577



3.6 VETERINARY COLLEGE OUTCOMES OF VETERINARIANS IN THE EQUINE PROFESSION

Veterinary college equips students with the basic skills needed to be a well-rounded

veterinarian capable of treating multiple species. Most veterinary students gain additional

veterinary experience participating in externships, short experiential learning opportunities that

give students practical experiences in veterinary settings outside of the veterinary college.

Many DVM graduates continue their training after graduation by participating in a year-long

internship to gain more species-specific training. A smaller number then pursue participation in

a residency program to gain skills in a specialty and become board certified. The AVMA has

been studying the economic value of internship for several years to determine how this

advanced training impacts veterinarians’ careers. Externships, internships and residencies in the

equine veterinary field are explored in this section.

3.6.1 Externship Participation

Externships provide a way for veterinary students to gain firsthand insight into an area of

practice in which they have interest. The majority of externships are undertaken in a student’s

fourth year at veterinary school, but many students also do externships during a summer recess

during their first three years. While not all colleges require externships before graduation,

many do. Externships prepare veterinary students for the reality of employment in private or

public practice after graduation. Several questions were asked in the 2016 AVMA-AAEP Survey

of Equine Practitioners that were not included in the 2016 AVMA Census of Veterinarians and

are summarized in the following descriptive statistics.

More than 81 percent of AAEP respondents participated in an externship in veterinary school,

while almost 19 percent did not (Figure 26).

Page 126 of 577



Figure 26: Distribution of AAEP Respondents by Externship Participation

In addition, 50 percent of 970 AAEP respondents participated in one to three externships, 33.4

percent participated in four to six, 12.4 percent experienced six to ten externships, and 4.2

percent more than 10. 55.4 percent of AAEP respondents stated they applied for an internship

at a practice where they attended an externship, while 44.6 percent of them did not apply at an

externship practice (n=790).

3.6.2 Internship Participation

An internship is a one-year clinical training program that provides practical experience and

additional training in clinical sciences. Internships are designed to sharpen the broad clinical

skill set required in equine practice, and teach the intern how to successfully engage with

various sectors of the equine industry. Interns often work under direct supervision, participate

in practice rounds and seminars and deliver formal presentations. An internship prepares a

veterinarian for employment in a practice or for advanced specialty training. In their best form,

internship programs are quality educational programs that provide benefit to the practice and

18.8%

81.2%

Distribution of AAEP Respondents by Externship Participation (n=975)

Did not participate Did participate

Page 127 of 577



to the new graduate. The intern earns a smaller salary than a practice associate, but in return

receives substantial experiential benefit and mentoring.

There are many reasons why a veterinarian might take on an internship. A veterinarian might

be unable to find an associate position due to a tight job market, or the available associate

positions might require an internship experience as a condition of employment. Veterinary

graduates may have the perception that an internship experience will equate to a higher

starting salary at their first associate position, they might plan to pursue a residency in a

selected board specialty, or believe that it is prudent to gain more confidence and experience

as an equine-specific practitioner before entering private practice.

In the following descriptive statistics regarding internships, the Equine sample is used, as the

questions were consistent between the 2016 AVMA-AAEP Survey of Equine Practitioners and

the 2016 AVMA Census of Veterinarians.

Twenty-eight percent of Equine respondents applied for just one internship, 55.4 percent

applied to between two to four internship positions, and 16.6 percent applied to five or more.

Among Equine respondents, 5.7 percent were currently participating in an internship, 46.6

percent had not participated in an internship, and 47.7 percent had participated in an

internship (Figure 27). In contrast, the AVMA survey sample showed 74 percent of general

veterinary practitioners had not participated in an internship and 26 percent had participated in

an internship.

Page 128 of 577



Figure 27: Distribution of Equine and AVMA Respondents by Internship Participation

Note: The 2016 AVMA-AAEP Survey of Equine Practitioners asks if respondents are currently in

an internship, while the 2016 Census of Veterinarians asks only if the respondent has or has not

participated in an internship.

Figure 28 shows the percentage of males and females who participated in the past or were

currently participating in an internship. 64.3 percent of female Equine respondents participated

in an internship compared to 37.9 percent of males. The AVMA sample reported 23.5 percent

of males had participated in an internship, and 27.6 percent of females participated in one.

5.7%

46.6% 47.7%

74.0%

26.0%

Currently participating Have not participated Participated in the past

% o

f Res

pond

ents

Participation Status

Distribution of Respondents by Internship Participation

Equine (n=1,055) AVMA (n=2,532)

Page 129 of 577



Figure 28: Distribution of Equine and AVMA Respondents Internship Participation by Gender

Figure 29 displays the distribution of respondents by the year they completed their internship,

with more than half of respondents in both samples completing an internship between 2007-

2017.

Most internships were undertaken in the 12 months following completion of veterinary school.

89.5 percent of Equine respondents who participated in an internship did so immediately

following graduation (AVMA: 85.6 percent), 4.6 percent held an intership two to three years

after graduation (AVMA: 10.2 percent), and the remaining 5.9 percent of respondents who

completed an internship did so four or more years after graduation from veterinary college

(AVMA: 4.3 percent).

62.1%

35.7%

76.5% 72.4%

37.9%

64.3%

23.5% 27.6%

Equine - Male(n=435)

Equine - Female(n=611)

AVMA-Male(n=767)

AVMA-Female(n=1,617)

% o

f Res

pond

ents

Internship Participation

Distrbution of Respondent Internship Participation by Gender

Have not participated in an internship Participated in an internship

Page 130 of 577



Figure 29: Distribution of Equine and AVMA Respondents by Year of Completed Internship

A veterinarian can apply for equine internships through three main venues: the formal match

program, the AAEP Avenues program, and a non-formal match. The formal match program

consists of academic internships delivered at academic institutions. The AAEP Avenues program

provides an online listing of mostly private practice equine internships. AAEP also provides a

gathering for applicants to meet practice representatives at the summer AAEP Summer Focus

Conference & Labs and the annual AAEP Convention, and reviews of internships authored by

former interns. The non-formal match simply encompasses available internship opportunities

that are posted in a classified ad or on a social media account, spread by word of mouth, or

communicated by other means.

Of the Equine respondents, 39.0 percent applied for an internship through AAEP Avenues, 29.3

percent through a non-formal match, and 19 percent through the formal match system. 12.7

percent of respondents utilized both the formal and non-formal match systems. By contrast,

61.7 percent of AVMA respondents applied for an internship through the formal match system,

followed by 30.8 percent in a non-formal match, and 7.5 percent through both (Figure 30).

2012-2016

2007-2011

1997-2006

1987-1996

1977-1986

1967-1976

1966or

priorAVMA (n=641) 29.5%27.3%22.9%12.6%4.2%2.3%1.1%Equine (n=562) 40.6%21.4%14.6%11.2%7.3%4.1%0.9%

0.0%5.0%

10.0%15.0%20.0%25.0%30.0%35.0%40.0%45.0%

% o

f Res

pond

ents

Distribution of Respondents by Year of Completed Internship

Page 131 of 577



Figure 30: Distribution of Equine and AVMA Respondents by Internship Program

Note: The 2016 AVMA Census of Veterinarians did not have the option of AAEP Avenues for

respondents to select.

In the Equine sample, 47.2 percent of female respondents applied through AAEP Avenues and

13.8 percent through the formal match system, while 37.7 percent of male respondents went

through a non-formal match and 31.5 percent the formal match system, with only 19.8 percent

utilizing AAEP Avenues. In contrast, 53.1 percent of AVMA males and 65.5 percent of AVMA

females applied though the formal match system (Figure 31).

39.0%

19.0%29.3%

12.7%

61.7%

30.8%

7.5%

AAEP Avenues Formal MatchSystem (academic

internships)

Non-Formal MatchSystem

Both through theFormal and Non-

Formal MatchSystem

% o

f Res

pond

ents

Internship Program

Distribution of Respondents by Internship Program

Equine (n=559) AVMA (n=655)

Page 132 of 577



Figure 31: Distribution of Equine and AVMA Respondents by Internship Program and Gender

Note: The 2016 AVMA Census of Veterinarians did not have the option of AAEP Avenues for

respondents to select.

When looking at the type of internship program by year of graduation, 58.4 percent of Equine

respondents who graduated in the past five years utilized AAEP Avenues; 28.1 percent relied on

a non-formal match (Table 6). The Equine respondents showed a declining trend in use of the

formal system for internship selection, with recent graduate use having declined from more

than 50 percent to 2.7 percent. In contrast, the AVMA sample has shown only a small decline in

formal system participation from slightly less than 70 percent for those who graduated 20-30

years ago to slightly more than 60 percent for recent graduates. The AVMA sample shows

respondents who applied through the formal or non-formal system, or both. The AAEP Avenues

19.8%

47.2%31.5%

13.8%

53.1%65.5%

37.7% 25.8% 38.4%27.1%

11.1% 13.3% 8.5% 7.4%



AVMA - Male(n=177)

AVMA - Female(n=446)

% o

f Res

pond

ents

Internship Program

Distribution of Respondents by Internship Program and Gender

Both through the Formal and Non-Formal Match system

Non-Formal Match system

Formal Match system (academic internships)

AAEP Avenues

Page 133 of 577



program has been in place since 1997. No such program for private practice internships exists in

the AVMA.

Table 6: Distribution of Equine and AVMA Respondents by Internship Program and Graduation Year

Equine 1966 or prior

1967-1976

1977-1986

1987-1996

1997-2006

2007-2011

2012-2016

AAEP Avenues 0.0% 3.6% 0.0% 1.5% 35.4% 54.2% 58.4% Formal Match system (academic internships)

50.0% 53.6% 50.0% 46.3% 17.7% 11.5% 2.7%

Non-Formal Match system 33.3% 32.1% 31.6% 38.8% 28.1% 25.2% 28.1% Both through the Formal and Non-Formal Match system

16.7% 10.7% 18.4% 13.4% 18.8% 9.2% 10.8%

AVMA 1966 or prior

1967-1976

1977-1986

1987-1996

1997-2006

2007-2011

2012-2016

Formal Match system (academic internships)

0.0% 17.6% 52.0% 69.5% 64.9% 64.7% 61.5%

Non-Formal Match system 100.0% 70.6% 36.0% 26.8% 26.4% 30.6% 28.6% Both through the Formal and Non-Formal Match system

0.0% 11.8% 12.0% 3.7% 8.6% 4.6% 9.9%

To understand why so many equine-oriented new graduates decide to participate in an

internship after veterinary school, Equine respondents were queried as to their reasons for

undertaking an internship and selected all the reasons that applied to them (Table 7).

Among male equine respondents who graduated from 2012 to 2016, 65.4 percent selected “to

practice better quality veterinary medicine,” and 53.8 percent selected “plan/planned to apply

for a residency” and/or selected “to get more training before entering veterinary practice.” An

increase was seen in male respondents who graduated between the 1960s and 2016 (including

current interns) and selected the first reason – “practice better quality veterinary medicine” –

and “plan/planned to apply for a residency.” The answer “to get more training before entering

Page 134 of 577



veterinary practice” showed a decrease from the number of male respondents who graduated

between the 1960s and 2016 (including current interns).

Among female equine respondents who graduated from 2012 to 2016, 72 percent selected “to

get more training before entering veterinary practice,” 66.5 percent “to practice better quality

veterinary medicine,” and 48.8 percent “to be more competitive in applying for available jobs.”

All three reasons showed an increase in the percentage of female respondents across

graduation years from the 1960’s to 2016 (including current interns) who selected those

reasons.

Among male AVMA respondents who graduated from 2012 to 2016, 60.7 percent selected

“plan/planned to apply for a residency,” 50 percent selected “to practice better quality

veterinary medicine,” and 17.9 percent wanted “to get more training before entering

veterinary practice.” The first reason showed an increased response within graduation years

from the 1960s to 2016, the second reason showed a slight decrease in responses within these

graduation years, and the third reason showed an increase in responses within this same

timeframe. Among female AVMA respondents who graduated from 2012 to 2016, 64.8 percent

selected “to practice better quality veterinary medicine,” 40.0 percent selected “plan/planned

to apply for a residency,” and 38.4 percent wanted “to get more training before entering

veterinary practice.” Unlike the male AVMA respondents, all top three reasons of the females

showed an increasing trend among responses within the 1960s to 2016 graduation years.

Page 135 of 577



Table 7: Distribution of Equine and AVMA Respondents’ Reasons for Undertaking an Internship by Gender and Graduation Year

Equine - Male 1966 or prior (n=4)

1967-1976

(n=29)

1977-1986

(n=27)

1987-1996

(n=34)

1997-2006

(n=29)

2007-2011

(n=25)

2012-2016

(n=26)

Current Intern (n=12)

To practice better quality veterinary medicine

50.0% 34.5% 37.0% 50.0% 48.3% 60.0% 65.4% 58.3%

To get more training before entering veterinary practice

50.0% 55.2% 48.1% 41.2% 31.0% 56.0% 53.8% 41.7%

I plan/planned to apply for residency

0.0% 24.1% 22.2% 38.2% 51.7% 36.0% 53.8% 58.3%

I feel/felt that I wil l earn more money in veterinary medicine by doing an internship

0.0% 0.0% 3.7% 2.9% 10.3% 12.0% 26.9% 25.0%

Was not able to obtain a position in other aspects of veterinary medicine

0.0% 3.4% 0.0% 0.0% 0.0% 8.0% 0.0% 0.0%

To be more competitive in applying for available jobs

0.0% 0.0% 3.7% 5.9% 13.8% 24.0% 34.6% 41.7%

Other--Please specify 0.0% 3.4% 3.7% 0.0% 0.0% 4.0% 0.0% 8.3%

Equine - Female 1977-1986

(n=13)

1987-1996

(n=41)

1997-2006

(n=73)

2007-2011

(n=107)

2012-2016

(n=164)

Current Intern (n=48)

To practice better quality veterinary medicine

69.2% 58.5% 60.3% 67.3% 66.5% 68.8%


76.9% 48.8% 67.1% 74.8% 72.0% 62.5%

I plan/planned to apply for residency 38.5% 48.8% 47.9% 38.3% 30.5% 39.6% I feel/felt that I wil l earn more money in veterinary medicine by doing an internship

0.0% 0.0% 9.6% 11.2% 6.7% 2.1%


0.0% 0.0% 0.0% 5.6% 2.4% 2.1%


0.0% 14.6% 23.3% 41.1% 48.8% 45.8%

Other--Please specify 0.0% 0.0% 0.0% 0.9% 1.2% 2.1%

Note: Graduation years 1967-1976 were omitted because the numer of observations did not

permit estimation.

Page 136 of 577



AVMA - Male 1966 or prior

(n=10)

1967-1976

(n=12)

1977-1986

(n=16)

1987-1996

(n=27)

1997-2006

(n=51)

2007-2011

(n=31)

2012-2016

(n=28) To practice better quality veterinary medicine

50.0% 41.7% 50.0% 40.7% 54.9% 35.5% 50.0%


20.0% 8.3% 25.0% 18.5% 27.5% 16.1% 17.9%

I plan/planned to apply for residency 30.0% 16.7% 31.3% 51.9% 49.0% 51.6% 60.7% I feel/felt that I wil l earn more money in veterinary medicine by doing an internship

0.0% 0.0% 75.0% 3.7% 9.8% 6.5% 14.3%


10.0% 0.0% 0.0% 0.0% 0.0% 3.2% 0.0%


0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%

Other--Please specify 30.0% 33.3% 0.0% 11.1% 3.9% 12.9% 3.6%

Note: The 2016 AVMA Census of Veterinarians did not have the option of selecting “To be more

competitive in applying for available jobs.”

AVMA - Female 1967-1976 (n=5)

1977-1986

(n=10)

1987-1996

(n=48)

1997-2006

(n=116)

2007-2011

(n=137)

2012-2016

(n=125) To practice better quality veterinary medicine

0.0% 50.0% 50.0% 48.3% 55.5% 64.8%


40.0% 10.0% 25.0% 30.2% 43.8% 38.4%

I plan/planned to apply for residency 20.0% 40.0% 58.3% 56.9% 48.9% 40.8% I feel/felt that I wil l earn more money in veterinary medicine by doing an internship

0.0% 0.0% 6.3% 8.6% 16.8% 10.4%


0.0% 0.0% 0.0% 0.0% 2.9% 0.8%


0.0% 0.0% 0.0% 0.0% 0.0% 0.0%

Other--Please specify 60.0% 30.0% 12.5% 6.0% 5.1% 8.8%

Note: The 2016 AVMA Census of Veterinarians did not have the option of selecting “To be more

competitive in applying for available jobs.”

AAEP respondents were asked to indicate internship responsibilities and the percent of

responses for each is provided in Table 8. The majority (82.1 percent) of AAEP respondents had

Page 137 of 577



primary on-call emergency duty with mentoring available, contrasting with 16.9 percent who

had no mentoring available when on emergency duty. Most internships (70.1 percent) required

the intern to be responsible for primary client communication for cases. 68.2 percent of

practices offered case rounds for their interns. Most (60.9 percent) internships also included

overnight treatment duty on a regular basis. About half (52.7 percent) of internships included a

Journal Club. About one-third (31.6 percent) included hands-on procedural rounds designed

specifically for learning a skill or technique, and less than one-quarter (23.6 percent) offered

radiology rounds.

Table 8: Distribution of Elements Included in Equine Internships, Selecting All That Applied to AAEP Respondents

Internship Responsibilities Freq. Percent

Primary on call emergency duty with mentoring available 418 82.1% Primary Client communication responsibility for cases 357 70.1% Clinical case rounds 347 68.2% Overnight treatment duty on a regular basis 310 60.9% Independent case management without oversight 274 53.8% Journal club 268 52.7% Periodic performance evaluations 173 34.0% Procedural rounds with teaching horses specifically for learning a skill or technique

161 31.6%

Radiology rounds 120 23.6% Primary on call emergency duty without mentoring available 86 16.9%

Internships provide a salary or stipend, but this remuneration is rarely equivalent to that of a

full-time practicing veterinarian who is in the first year of practice. Table 9 displays the mean

internship salary for males and females among Equine respondents and AVMA respondents.

Female Equine respondents on average reported an annual internship stipend of $24,661 vs.

$19,918 for males; female AVMA respondents reported an average internship salary of

$25,726, while males reported $22,766. Current Equine interns have a slightly higher average

salary than the Equine and AVMA samples.

Page 138 of 577



Table 9: Distribution of Equine and AVMA Respondents’ Internship Stipends/Salaries by Gender

Equine Gender Obs. Mean Std. Dev. Min. Max.

Male 162 $19,918 $9,188 $0 $60,000 Female 389 $24,661 $5,663 $0 $40,000

AVMA Gender Obs. Mean Std. Dev. Min. Max.

Male 153 $22,767 $8,292 $3,600 $67,000 Female 411 $25,726 $7,005 $2,400 $75,000

Current Equine Intern Gender

Obs. Mean Std. Dev. Min. Max.

Male 12 $25,850 $3,529 $19,200 $30,000 Female 48 $26,917 $4,334 $12,500 $40,000

Salaries may differ over time. Table 10 shows the mean internship stipends/salaries of

respondents by graduation year. Both Equine and AVMA respondents reported larger average

salaries and stipends in the past 20 years. It should be noted that no adjustment for inflation

has been made in this report.

Table 10: Distribution of Equine and AVMA Respondents’ Internship Stipends/Salaries by Graduation Year

Equine Graduation Year Obs. Mean Std. Dev. Min. Max.

2012-2016 185 $26,915 $3,677 $12,500 $40,000 2007-2011 130 $27,165 $5,567 $13,000 $60,000 1997-2006 95 $22,679 $5,288 $0 $45,000 1987-1996 66 $18,180 $5,209 $12,000 $48,000 1977-1986 36 $12,706 $5,410 $0 $25,000 1967-1976 29 $10,626 $5,689 $50 $25,000 1966 or prior 5 $14,280 $14,380 $2,400 $30,000

Page 139 of 577



AVMA Graduation Year Obs. Mean Std. Dev. Min. Max.

2012-2016 158 $29,174 $4,607 $18,000 $45,000 2007-2011 168 $27,222 $5,212 $10,000 $50,000 1997-2006 158 $23,657 $7,168 $2,400 $75,000 1987-1996 61 $17,844 $6,186 $5,000 $41,000 1977-1986 19 $15,551 $4,431 $9,000 $28,000 1967-1976 11 $12,227 $3,545 $8,000 $19,000 1966 or prior 6 $7,900 $4,096 $3,600 $15,000

During an internship, interns must fund their housing if it is not provided to them during their

internship program. Thus, AAEP respondents who participated in an internship were asked

about their housing situation during their internship. Compensation packages for 66 percent of

the respondents did not include free housing (Figure 32).

Figure 32: Distribution of AAEP Respondents by Internship Compensation Package Which Includes/Included Free Housing

66.0%

34.0%

Distribution of AAEP Respondents by Internship Compensation Package Which Includes/Included Free

Housing

Does not include free housing Includes free housing

Page 140 of 577



AAEP respondents who reported free housing in their compensation package versus those who

did not generally reported lower internship salaries (Table 11).

Table 11: Distribution of AAEP Respondents’ Internship Housing Status with Respect to Intern Salaries and Graduation Year

Graduation Year Obs. Housing No Housing

Less than 5 years ago $0-$10,000 0 - - $11,000-$20,000 3 66.7% 33.3% $21,000-$30,000 146 46.6% 53.4% $31,000-$40,000 19 36.8% 63.2% $41,000 or more 0 - -

5-10 years ago $0-$10,000 0 - - $11,000-$20,000 11 54.5% 45.5% $21,000-$30,000 84 38.1% 61.9% $31,000-$40,000 17 35.3% 64.7% $41,000 or more 2 50.0% 50.0%

10-20 years ago $0-$10,000 1 100.0% 0.0% $11,000-$20,000 30 33.3% 66.7% $21,000-$30,000 51 33.3% 66.7% $31,000-$40,000 3 33.3% 66.7% $41,000 or more 0 - -

20 + years ago $0-$10,000 26 34.6% 65.4% $11,000-$20,000 88 10.2% 89.8% $21,000-$30,000 14 7.1% 92.9% $31,000-$40,000 0 - - $40,000 or more 1 0.0% 100.0%

Page 141 of 577



Table 12 shows the reported average monthly value of rental housing by graduation year

among those respondents who had free housing included in their compensation package. The

average monthly housing value for AAEP intern respondents from 2012 through 2016 was

$741.89 per month, compared to less than $500 for respondents who graduated more than 30

years ago.

Table 12: Means of Equine Monthly Value of Housing per Month

Graduation Year Obs. Mean Std. Dev. Min. Max.

2012-2016 74 $742 $341 $300 $2,500 2007-2011 44 $738 $312 $200 $1,800 1997-2006 29 $681 $331 $0 $2,000 1987-1996 9 $544 $231 $250 $1,000 1977-1986 3 $500 $0 $500 $500 1967-1976 4 $256 $216 $0 $500

Note: Graduation year 1966 or prior was omitted because the number of observations did not

permit estimation.

Interns are often provided with a benefits package. Specific benefit questions were asked of the

AAEP respondents. In addition to indicating benefits by gender, Table 13 lists the types of

benefits and the percentage of respondents who had certain benefits during their internship. If

respondents had completed more than one internship, they were asked to respond only about

their first internship. Respondents selected all benefits that they received during their

internship. The majority of respondents had health insurance (63.1 percent), AVMA’s

professional liability insurance (PLIT) (62.5 percent), and continuing education expenses (60.9

percent). More than half of the interns were paid or reimbursed for license fees (57.2 percent)

and association dues (56 percent), and received paid continuing education leave (50.9 percent).

39.3 percent of interns received paid vacation days and 29.9 percent were given paid personal

Page 142 of 577



or sick days. 9.6 percent were offered a retirement plan. 4.7 percent of interns received none of

the benefits listed.

PLIT, health insurance, and continuing education expenses were the top benefits provided by

an employer to both females and males. Males were less likely to receive the listed benefits

than females in almost all categories. 11.6 percent of males received no benefits in their

internships compared to 1.9 percent of females. These differences may be due to male intern

Equine respondents having a mean of 23 years of experience versus females’ having a mean of

10 years of experience in this sample.

Table 13: Percentage of Benefits Provided by Equine First, or Only, Internship

Benefit Equine (n=509)

Female (n=361)

Male (n=146)

Health insurance 63.1% 64.8% 58.2% PLIT insurance (Professional liability/malpractice) 62.5% 67.6% 50.0% Continuing education expenses 60.9% 65.1% 50.7% License(s) fees 57.2% 63.7% 41.1% Association dues (AVMA, AAEP, etc.) 56.0% 63.2% 39.0% Continuing education leave (paid days off to attend) 50.9% 55.4% 39.7% Practice owned cell phone 42.0% 47.9% 28.1% Paid vacation 39.3% 41.8% 33.6% Discounted veterinary care for personal animals 37.9% 43.2% 26.0% Paid personal or sick days 29.9% 32.1% 24.0% Paid holidays 24.6% 22.7% 29.5% Disability insurance 21.4% 19.9% 25.3% Personal use of vehicle 16.3% 16.9% 15.1% Retirement plan 9.6% 8.3% 12.3% None of the above 4.7% 1.9% 11.6% Other 3.5% 3.0% 4.8%

Page 143 of 577



Benefits received by interns have changed over time (Table 14). In general, the percent of

interns receiving all types of benefits except for paid holidays has increased over time.

Table 14: Percentage of Benefits Provided by Equine First, or Only, Internship by Graduation Year

Benefit 1966 or prior (n=5)

1967-1976

(n=30)

1977-1986

(n=37)

1987-1996

(n=62)

1997-2006

(n=86)

2007-2011

(n=114)

2012- 2016

(n=168) Health insurance 80.0% 43.3% 40.5% 74.2% 67.4% 61.4% 65.5% PLIT insurance (Professional l iability/malpractice)

20.0% 16.7% 32.4% 54.8% 66.3% 77.2% 71.4%

Continuing education expenses 0.0% 26.7% 32.4% 46.8% 67.4% 64.0% 75.6% License(s) fees 0.0% 16.7% 8.1% 43.5% 57.0% 66.7% 75.0% Association dues (AVMA, AAEP, etc.)

0.0% 13.3% 13.5% 37.1% 51.2% 68.4% 75.0%

Continuing education leave (paid days off to attend)

20.0% 20.0% 21.6% 46.8% 52.3% 58.8% 59.5%

Practice owned cell phone 20.0% 6.7% 0.0% 17.7% 46.5% 62.3% 50.6% Paid vacation 60.0% 36.7% 24.3% 38.7% 39.5% 34.2% 45.8% Discounted veterinary care for personal animals

20.0% 20.0% 8.1% 17.7% 26.7% 40.4% 59.5%

Paid personal or sick days 60.0% 20.0% 24.3% 32.3% 29.1% 26.3% 33.9% Paid holidays 20.0% 33.3% 24.3% 32.3% 26.7% 24.6% 19.0% Disability insurance 40.0% 30.0% 24.3% 25.8% 18.6% 19.3% 20.8% Personal use of vehicle 0.0% 10.0% 18.9% 12.9% 11.6% 15.8% 22.0% Retirement plan 60.0% 13.3% 5.4% 12.9% 9.3% 14.0% 4.2% Other 0.0% 6.7% 8.1% 3.2% 3.5% 1.8% 3.0% None of the above 20.0% 20.0% 18.9% 6.5% 3.5% 0.0% 1.2%

Page 144 of 577



AAEP respondents were asked how many vacation days they were allotted during their

internship. Over 50 percent of respondents who graduated since 1997 reported 10 or more

vacation days. Respondents who graduated prior to 1997 reported a varied number of vacation

days, all under 50 percent, with the exception of three respondents (60 percent), who

graduated in 1966 or before; those respondents reported one to five vacation days (Figure 33).

Figure 33: Distribution of AAEP Respondents’ Vacation Days Allotted for Internships by Graduation Year

0.0%10.0%20.0%30.0%40.0%50.0%60.0%70.0%

% o

f Res

pond

ents

Graduation Year

Distribution of AAEP Respondents' Vacation Days Allotted for Internships by Graduation Year

0 days 1-5 days 6-10 days 10 or more days

Page 145 of 577



Figure 34 presents first post-internship salaries of respondents by year of graduation. On

average, those who graduated after 1997 reported higher first post-internship salaries than

those who graduated prior. Of veterinarians who graduated from 2012-2016, AVMA

respondents reported an average starting salary of $68,049, while Equine respondents reported

an average starting salary of $52,410.

Figure 34: Distribution of Equine and AVMA Respondents’ First Post-Internship Salary by Year of Graduation

$52,410

$68,049

$- $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 $70,000 $80,000

Sala

ry (

$)

Graduation Year

Distribution of Respondents' First Post-Internship Salary by Year of Graduation

Equine AVMA

Page 146 of 577



AVMA respondents reported higher starting salaries than Equine respondents on average, with

the exception of male Equine respondents who graduated in the time period 2012-2016, and

who reported an average starting salary of $61,687 compared to AVMA males who reported

$61,810 (Table 15). In contrast, female Equine respondents who graduated from 2012-2016

reported an average starting salary of $51,109 compared to AVMA females, who reported

$70,452.

Table 15: Mean Distribution of Equine and AVMA Respondents’ Post-Internship Salary by Gender and Graduation Year

Equine 1966 or prior

1967-1976

1977-1986

1987-1996

1997-2006

2007-2011

2012-2016

Male (n=147) $21,000 $22,192 $27,960 $30,431 $51,400 $56,043 $61,867 Female (n=327) - $20,000 $27,250 $31,529 $46,224 $51,992 $51,109

AVMA 1966 or prior

1967-1976

1977-1986

1987-1996

1997-2006

2007-2011

2012-2016

Male (n=153) $9,229 $24,625 $30,154 $45,580 $64,660 $70,267 $61,810 Female (n=411) - $49,000 $27,900 $44,951 $67,209 $70,645 $70,452

Internship Program Focus

The focus of an internship program is often well defined. Prospective interns can seek training

in an academic/university setting, corporate-owned practice, private ambulatory practice,

private hospital-based referral practice, or a practice with multiple elements, such as a full-

service private specialty/referral hospital with an ambulatory division. Internships can also

focus on a specific facet of practice such as surgery or imaging, or may be a rotating internship

that offers exposure to a variety of practice settings.

Page 147 of 577



As indicated in Figure 35, 49.9 percent of Equine respondents’ internships occurred in a private

referral practice setting, followed by 28.6 percent in an academic/university location. The

AVMA respondents indicated a similar pattern, with 45.3 percent of respondents reporting that

they focused on private referral practice, with 34.3 percent reporting an academic/university

focus. AVMA respondents had a 5.7 percent higher participation in an academic setting than

seen in Equine respondents.

Figure 35: Distribution of Equine and AVMA Respondents’ Program Focus of Internship

0.0%10.0%20.0%30.0%40.0%50.0%60.0%

% o

f Res

pond

ents

Program Focus

Distribution of Respondents' Program Focus of Internship


Page 148 of 577



When comparing internship focus of respondents by gender, 53.4 percent of female Equine

respondents reported that they participated in an internship at a private referral practice,

compared to 41.2 percent of males. 21.9 percent of female Equine respondents’ internships

were located in an academic/university setting, compared to 44.2 percent of male respondents

(Figure 36). Among AVMA respondents, 49.5 percent of females reported focusing on private

referral practice compared to 33.7 percent of males. Of AVMA female respondents, 30.6

percent trained in an academic/university internship setting compared to 46.1 percent of

males.

44.2%

1.2%12.7%

41.2%

0.6%

21.9%

0.3%

21.4%

53.4%

3.1%

% o

f Res

pond

ents

Program Focus

Distribution of Equine Respondents' Program Focus of Internship by Gender

Male Female

Page 149 of 577



Figure 36: Distribution of Equine and AVMA Respondents’ Program Focus of Internship by Gender

46.1%

2.8%8.4%

33.7%

3.9% 1.1% 3.9%

30.6%

2.7%9.7%

49.5%

2.9% 0.2% 4.3%

% o

f Res

pond

ents

Program Focus

Distribution of AVMA Respondents' Program Focus of Internship by Gender

Male Female

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Segmenting the type of internship by practice type, gender and graduation year shows an

increase in specialization and increased opportunities for achieving that focus through private

referral practices. As the referral practices have increased they have provided increased

opportunities for specialty board certification. In addition, while the percent of those choosing

a private general practice internship across the profession has shown little change, there has

been substantial change in this choice for equine practitioners (Table 16).

Table 16: Distribution of Equine and AVMA Respondents’ Program Focus of Internship by Gender and Graduation Year

Equine Academic/ University

Corporate-owned practice

Private general practice

Private referral practice

Other

Male Female Male Female Male Female Male Female Male Female

2012-2016 (n=185)

15.4% 8.2% 0.0% 0.6% 3.8% 26.4% 80.8% 61.6% 0.0% 3.1%

2007-2011 (n=129)

4.3% 20.8% - - 30.4% 21.7% 65.2% 52.8% 0.0% 4.7%

1997-2006 (n=96)

30.8% 27.1% - - 11.5% 18.6% 57.7% 51.4% 0.0% 2.9%

1987-1996 (n=68)

50.0% 55.3% - - 10.0% 2.6% 36.7% 42.1% 3.3% 0.0%

1977-1986 (n=38)

76.0% 61.5% 8.0% 0.0% 8.0% 30.8% 8.0% 7.7% - -

1967-1976 (n=30)

78.6% 100.0% - - 14.3% 0.0% 7.1% 0.0% - -

1966 or prior (n=4)

75.0% 75.0% - - - - 25.0% 25.0% - -

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AVMA Academic/ University

Corporate-owned practice

Private general practice

Private referral practice

Male Female Male Female Male Female Male Female 2012-2016 (n=153)

21.4% 17.6% 7.1% 4.8% 14.3% 8.0% 53.6% 63.2%

2007-2011 (n=167)

41.9% 32.4% 3.2% 4.4% 3.2% 8.8% 45.2% 51.5%

1997-2006 (n=166)

43.1% 27.8% 2.0% 0.0% 7.8% 13.0% 41.2% 49.6%

1987-1996 (n=74)

61.5% 50.0% 3.8% 0.0% 7.7% 10.4% 19.2% 22.9%

1977-1986 (n=25)

66.7% 70.0%

6.7% 10.0% 20.0% 0.0%

1967-1976 (n=17)

66.7% 80.0%

8.3% 0.0% 0.0% 20.0%

1966 or prior (n=10)

20.0%

AVMA Not-For-Profit Uniform Services Other

Male Female Male Female Male Female 2012-2016 (n=153)

0.0% 3.2% 0.0% 0.8% 3.6% 2.4%

2007-2011 (n=167)

3.2% 0.7% 3.2% 2.2%

1997-2006 (n=166)

5.9% 4.3% 0.0% 5.2%

1987-1996 (n=74)

0.0% 6.3% 3.8% 0.0% 3.8% 10.4%

1977-1986 (n=25)

6.7% 0.0% 0.0% 20.0%

1967-1976 (n=17)

25.0% 0.0%

1966 or prior (n=10)

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Internship Species Focus

Interns often intend to focus on specific species during an internship. As expected, the majority

(90.4 percent) of Equine respondents focused on equine work, while 65.4 percent of

respondents from the AVMA sample focused on companion animals (Figure 37).

Figure 37: Distribution of Equine and AVMA Respondents by Species Focus of Internship

0.4%

90.4%

4.1% 5.2%

65.4%

18.3%4.8% 3.6%

Companionanimal

Equine Food animal Mixed animal Exotic orzoological

animal

% o

f Res

pond

ents

Species Focus

Distribution of Respondents by Species Focus of Internship


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Internship Primary Focus

An investigation of the primary work focus of internships revealed that 56.9 percent of Equine

respondents and 73.2 percent of AVMA respondents worked in practices where they rotated

through different departments or foci (Table 17); 15.3 percent of Equine respondents focused

on ambulatory practice and 15.3 percent on surgery; 6.7 percent of AVMA respondents

participated in an internship focused on emergency/critical care, followed by 5.5 percent

concentrating on internal medicine.

Table 17: Distribution of Equine and AVMA Respondents by Primary Focus of Internship

Primary Focus Equine (n=562) AVMA (n=642)

General rotating 56.9% 73.2% Ambulatory 15.3% 0.0% Surgery 15.3% 4.7% Sports Medicine and Rehabilitation 5.0% 0.0% Theriogenology 3.0% 0.0% Emergency/Critical Care 2.0% 6.7% Internal Medicine 1.6% 5.5% Dentistry 0.5% 0.0% Anesthesia 0.2% 0.5% Veterinary Practitioners 0.2% 0.0% Laboratory Animal Medicine 0.0% 1.1% Radiology 0.0% 0.0% Zoological Medicine 0.0% 0.0% Oncology 0.0% 0.2% Pathology 0.0% 0.3% Toxicology 0.0% 0.0% Behavior 0.0% 0.0% Dermatology 0.0% 0.2% Microbiology 0.0% 0.0% Other 0.0% 7.8% Total 100.0% 100.0%

Page 154 of 577



Satisfaction and Experience with Internships

Examining the distribution of respondents by gender finds that 91.5 percent of male Equine

respondents were extremely or very satisfied with their internship experience versus 75.3

percent of female Equine respondents. In the AVMA sample 77.7 percent of males were

extremely or very satisfied with their internship versus 69.9 percent of AVMA females (Figure

38).

Figure 38: Distribution of Equine and AVMA Respondents’ Internship Satisfaction by Gender

0.0%10.0%20.0%30.0%40.0%50.0%60.0%

Extremelysatisfied

Very satisfied Moderatelysatisfied

Not toosatisfied

Not satisfiedat all

% o

f Res

pond

ents

Satisfaction Level

Distribution of Respondents' Internship Satisfaction by Gender

Equine - Male (n=165) Equine - Female (n=393)

AVMA - Male (n=179) AVMA - Female (n=445)

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Segmenting the satisfaction rating of those who participated in an internship by year of

graduation found that the overall satisfaction level has fallen over time for both the Equine and

AVMA samples (Table 18).

Table 18: Distribution of Equine and AVMA Respondents’ Internship Satisfaction by Graduation Year

Equine 1966 or less

(n=6)

1976-1967

(n=30)

1986-1977

(n=38)

1996-1987

(n=68)

2006-1997

(n=96)

2011-2007

(n=131)

2016-2012

(n=185) Extremely satisfied

66.7% 60.0% 57.9% 61.8% 49.0% 37.4% 31.9%

Very satisfied 33.3% 20.0% 28.9% 29.4% 39.6% 43.5% 37.3% Moderately satisfied

0.0% 16.7% 10.5% 7.4% 6.3% 16.0% 25.9%

Not too satisfied 0.0% 3.3% 2.6% 1.5% 4.2% 2.3% 4.3% Not satisfied at all 0.0% 0.0% 0.0% 0.0% 1.0% 0.8% 0.5%

AVMA 1966 or prior

(n=12)

1976-1967

(n=17)

1986-1977

(n=25)

1996-1987

(n=82)

2006-1997

(n=174)

2011-2007

(n=173)

2016-2012

(n=161) Extremely satisfied

58.3% 52.9% 52.0% 41.5% 42.0% 31.8% 34.8%

Very satisfied 41.7% 35.3% 32.0% 35.4% 32.8% 34.1% 33.5% Moderately satisfied

0.0% 11.8% 8.0% 11.0% 17.8% 19.7% 23.6%

Not too satisfied 0.0% 0.0% 8.0% 11.0% 4.6% 8.7% 5.0% Not satisfied at all 0.0% 0.0% 0.0% 1.2% 2.9% 5.8% 3.1%

When determining whether the specific internship experiences have met the expectations of

the participating veterinarian, rankings of certain experience expectations associated with an

internship were considered, as displayed in Figure 39 . Most Equine and AVMA respondents

believed that their internship met their learning/career objectives “extremely well” or “very

well” (Equine: 81.0 percent; AVMA: 79.8 percent). In evaluating their experience in the context

Page 156 of 577



of how consistent it was with the advertised internship description, more than half of the

Equine and AVMA samples thought the experience matched “extremely well” or “very well”

with that description. More than 90 percent of Equine respondents believed their internship

made them a better veterinarian. In considering how the their internship performed in gaining

valuable mentors, almost 80 percent of Equine respondents and about 60 percent of AVMA

respondents reported that it did “extremely well” or “very well.” Nearly three-quarters (73.3

percent) of Equine respondents however, reported receiving little business training. The

percentage was even higher (84.0 percent) for the AVMA respondents. There was more positive

feedback from Equine respondents on clinical skills improvement (88.8 percent reported “met

expectations extremely well” or “met expectations very well”) than of skills involving

comunication/client relationships (58.6 percent). AVMA respondents showed similar

experience ratings for these aspects of their internship (84 percent and 59.1 percent,

respectively).

41.8% 39.1%

15.7%

2.8% 0.5%

Extremelywell

Very well Moderatelywell

Not too well Not well atall

Learning/Career objectives

Equine AVMA

Page 157 of 577



36.8% 38.2%

18.6%

4.3% 2.1%

Extremelywell



Being consistent with the advertised internship description

Equine AVMA

57.7%

32.9%

7.7% 1.3% 0.5%

Extremelywell



Becoming a better veterinarian

Equine AVMA

51.7%

28.3%

13.4%4.8% 1.8%

Extremelywell



Gaining valuable mentors

Equine AVMA

Page 158 of 577



43.9%33.0%

18.8%

3.0% 1.3%

Extremelywell



Easing transition from student to practicing veterinarian

Equine AVMA

59.8%

28.9%

9.3%1.8% 0.2%

Extremelywell



Improving clinical skills

Equine AVMA

9.1%17.6%

27.1%33.5%

12.7%

Extremelywell



Improving understanding of the management of a business

Equine AVMA

Page 159 of 577



Figure 39: Distribution of Equine and AVMA Respondents’ by Satisfaction with Specific Internship Expectations

Note: Client-building skills are associated with building rapport and a relationship with a client

yielding a high level of trust in the veterinarian, a desire on the part of the client to return to the

same veterinarian for services, and to recommend the veterinarian to others.

Overall, if Equine respondents had the option of participating in an internship again, 75.3

percent would participate in the same internship, 15.1 percent would participate in a different

internship, 1.8 percent said they would not participate in an internship, and 7.8 percent said

they are not sure what they would do (Figure 40).

24.6%

34.0%27.6%

11.4%

2.3%

Extremelywell



Improving client building skills

Equine AVMA

Page 160 of 577



Figure 40: Distribution of Equine Respondents by Likelihood of Future Internship Participation

Factors That Are Significant in Explaining the Population of Veterinarians Who Participated In an

Internship After Graduation

Using a binary logit model, factors associated with past internship participation are identified. A

binary logit measures the relationship between the variable of interest (dependent variable)

and the factors (independent variables) hypothesized to affect the variable of interest. In the

binary logistic regression, however, the dependent variable has only two values (1=yes, 0=no)

and the relationship measured is the probability of the dependent variable occurring when the

factor occurs. The dependent variable is veterinarians who participated in an internship taking

on the value of 1, with those who did not participate in an internship taking on the value of 0.

Independent variables that were used to attempt to explain internship participation include:

graduation year, gender, education level, residency participation, board certified, first position

75.3%

15.1%

1.8%7.8%

I would participatein the sameinternship

I would participatein a different

internship

I would notparticipate in an

internship

I'm not sure what Iwould do

% o

f Res

pond

ents

View of Internship Participation

Distribution of Equine Respondents by Likelihood of Future Internship Participation (n=499)

Page 161 of 577



after internship (private or public practice positions), education preparation, student veterinary

debt, and veterinary school.

In this table the coefficients are used to calculate the probability of an individual respondent

falling into a specific category (participated in an internship or did not participate in an

internship). The main criterion is to observe whether the coefficient is positive or negative. This

will indicate the direction of the relationship (i.e., negative is more likely to have not

particpated in an internship and positive more likely to have participated in an internship).

Variables that significantly contribute to predictive ability of the model would have a p-value of

.10 or less in the column labeled “Sig.” Variables that are significant at the 10, 5, and 1 percent

level are reported in explaining the factors that affected participation in an internship. The

“Odds Ratio” column is the probability of having participated in an internship assigned to each

of the independent variables and is defined as “the change in odds of being in one of the

categories of outcome (participated in an internship or did not participate in an internship)

when the value of one of the independent variables (predictors) increases by one point.”16 To

interpret the odds ratio, the odds ratio value is subtracted by one to obtain the odds of the

event occurring.

As a baseline for comparison with the other variables in the respective groups, the following

factors were omitted from the model: bachelor’s degree, The Ohio State University, first

position equine practice (Equine model) and first position companion animal practice (AVMA

model).

16 Barbara G. Tabachnick and Linda S. Fidell. Using Multivariate Statistics, 6th Edition (New York City, New York: Pearson, 2013), pg.8.

Page 162 of 577



Results in Table 19 show that for Equine respondents, the year of graduation variable is

negative and significant, implying the longer a respondent has been out of veterinary school the

less likely they were to have participated in an internship. The odds ratio is interpreted as for a

one-unit increase in year (a change) since graduation, the odds of having participated in an

internship versus not participating in an internship was .07 times lower given that all the other

variables are held constant. In percent terms, each unit increase in graduation decreased the

odds of participation in an internship by 7 percent.

Other significant variables in the Equine sample that affected the odds of a respondent who

particpated or did not participate in an internship include residency participation (odds were

7.06 greater that a respondent who participated in a residency pursued an internship than

respondents who did not particpate in a residency), first position in food animal practice (odds

were .96 lower that a respondent who participated in an internship had a first position in food

animal practice than a first position in equine practice), first position in companion animal

practice (odds were .78 lower than respondents’ first position being in equine practice), first

position in mixed animal practice (odds were .88 lower than respondents’ first position being in

equine practice), first position in a university/college (odds were 5.92 greater than respondents’

first position being in equine practice), and first position in industry/commercial organization

(odds were .94 lower than respondents’ first position being in equine practice), given all other

variables are held constant. In addition, respondents who attended veterinary college at

University of Florida, Mississippi State University and University of Wisconsin had a significant

negative relationship with The Ohio State University in identifying the variation in internship

participation by veterinary school, meaning that the respondents who graduated from these

three veterinary schools, the odds of having participated in an internship versus not

particpating in an internship were lower than the respondents who attended The Ohio State

University.

Page 163 of 577



Table 19: Factors That Are Significant in Explaining the Population of Veterinarians Who Participated in an Internship After Graduation

Equine Coefficient Std. Error Sig. Odds Ratio

Graduation Year -0.069 0.013 0.00*** 0.93 Gender (Female=1) 0.226 0.257 0.38 1.25 DVM Debt 0.000 0.000 0.38 1.00 Education Preparation (5=Extremely well/1=Not well at all)

-0.059 0.143 0.68 0.94

Bachelor’s (baseline) Omitted Ph.D. -0.623 0.713 0.38 0.54 Master’s -0.247 0.318 0.44 0.78 Specialty Degree -1.055 1.031 0.31 0.35 DVM only -0.393 0.361 0.28 0.68 Residency (Yes=1) 1.954 0.499 0.00*** 7.06 Board Certified (Yes=1) -0.147 0.522 0.78 0.86 First Position - Equine (baseline) Omitted First Position - Food Animal -3.256 0.797 0.00*** 0.04 First Position - Companion Animal -1.522 0.410 0.00*** 0.22 First Position - Mixed Animal -2.136 0.274 0.00*** 0.12 First Position - University/College 1.778 0.654 0.01*** 5.92 First Position - Industry/Commercial -2.779 1.439 0.05** 0.06 The Ohio State University (baseline) Omitted Auburn University -0.512 0.659 0.44 0.60 Tuskegee University 0.002 1.124 1.00 1.00 University of California - Davis -0.085 0.605 0.89 0.92 Colorado State University -0.362 0.570 0.53 0.70 University of Florida -1.129 0.641 0.08* 0.32 University of Georgia 0.019 0.814 0.98 1.02 University of Illinois -1.018 0.800 0.20 0.36 Iowa State University -0.112 0.761 0.88 0.89 Kansas State University -0.185 0.643 0.77 0.83 Louisiana State University 0.050 0.915 0.96 1.05 Tufts University 0.154 0.702 0.83 1.17 Michigan State University -0.513 0.845 0.54 0.60 Mississippi State University -1.725 0.916 0.06* 0.18 Purdue University 0.411 0.763 0.59 1.51 Cornell University 0.037 0.657 0.96 1.04

Page 164 of 577



Oklahoma State University -0.461 0.712 0.52 0.63 University of Pennsylvania -0.528 0.638 0.41 0.59 Texas A&M University 0.235 0.669 0.73 1.26 Washington State University 0.298 0.758 0.70 1.35 University of Missouri-Columbia -0.592 0.648 0.36 0.55 Oregon State University -0.274 0.856 0.75 0.76 University of Tennessee -0.239 1.017 0.81 0.79 North Carolina State University -0.722 0.794 0.36 0.49 University of Wisconsin -1.479 0.741 0.05** 0.23 Western University of Health Sciences -0.645 0.967 0.51 0.52 University of Minnesota -0.855 0.675 0.21 0.43 Other college 0.082 0.561 0.88 1.09 Virginia-Maryland College -0.727 0.781 0.35 0.48 Constant 2.367 0.769 0.00*** 10.66

Observations 674

Pseudo R-Square 0.3271

***, **, and * indicate significance at the 1 percent, 5 percent, and 10 percent levels, respectively.

Note: Federal government, uniformed services, state and local government, not-for-profit, and

other type of first position were omitted because the number of observations did not permit

estimation.

AVMA Coefficient Std. Error Sig. Odds Ratio

Age -0.037 0.009 0.00*** 0.96 Gender (Female=1) 0.034 0.162 0.84 1.03 DVM Debt 0.000 0.000 0.19 1.00 Education Preparation (5=Extremely well/1=Not well at all)

0.038 0.089 0.67 1.04

Bachelor’s (baseline) Omitted Ph.D. -0.329 0.280 0.24 0.72 Master’s -0.138 0.193 0.47 0.87 Specialty Degree -0.395 1.469 0.79 0.67 DVM only -0.511 0.299 0.09* 0.60 Residency (Yes=1) 2.190 0.326 0.00*** 8.93 Board Certified (Yes=1) 0.327 0.327 0.32 1.39

Page 165 of 577



First Position - Companion Animal (baseline)

Omitted

First Position - Mixed Animal -0.858 0.243 0.00*** 0.42 First Position - Food Animal -1.566 0.544 0.00*** 0.21 First Position - Equine 1.698 0.248 0.00*** 5.47 First Position - Federal Government -1.231 1.106 0.27 0.29 First Position - Uniformed Services -1.035 0.710 0.15 0.36 First Position - University/College 0.566 0.323 0.08* 1.76 First Position - State/Local Government -1.130 1.187 0.34 0.32 First Position - Industry/Commercial -1.017 0.639 0.11 0.36 First Position - Not-for-profit 0.154 0.457 0.74 1.17 First Position - Advanced Education -0.879 1.278 0.49 0.42 First Position - Other 0.861 0.403 0.03** 2.37 The Ohio State University (baseline) Omitted Auburn University -0.436 0.487 0.37 0.65 Tuskegee University 0.177 0.604 0.77 1.19 University of California - Davis 0.398 0.394 0.31 1.49 Colorado State University 0.526 0.388 0.18 1.69 University of Florida 0.541 0.454 0.23 1.72 University of Georgia -1.005 0.529 0.06* 0.37 University of Illinois -0.101 0.440 0.82 0.90 Iowa State University -0.922 0.514 0.07* 0.40 Kansas State University 0.443 0.396 0.26 1.56 Louisiana State University -0.795 0.549 0.15 0.45 Tufts University 0.865 0.423 0.04** 2.37 Michigan State University -0.329 0.458 0.47 0.72 University of Minnesota 0.013 0.424 0.98 1.01 Mississippi State University -0.552 0.570 0.33 0.58 Purdue University -0.561 0.533 0.29 0.57 Cornell University 0.997 0.417 0.02** 2.71 Oklahoma State University -0.082 0.557 0.88 0.92 University of Pennsylvania 0.375 0.393 0.34 1.46 Texas A&M University -0.349 0.439 0.43 0.71 Washington State University -0.436 0.491 0.38 0.65 University of Missouri-Columbia -1.052 0.557 0.06* 0.35 Oregon State University -0.741 0.648 0.25 0.48 University of Tennessee 0.104 0.507 0.84 1.11

Page 166 of 577



Virginia-Maryland College -0.687 0.465 0.14 0.50 North Carolina State University -0.341 0.500 0.50 0.71 University of Wisconsin -0.344 0.466 0.46 0.71 Western University of Health Sciences 0.357 0.569 0.53 1.43 Other college -0.098 0.334 0.77 0.91 Constant -1.006 0.493 0.04** 0.37

Observations 1,761


***, **, and * indicate significance at the 1 percent, 5 percent, and 10 percent levels, respectively

3.6.3 Residency Participation

Veterinarians who want to pursue residency training generally complete an internship program

in order to obtain a competitive edge in selection for a residency. A veterinarian with several

years of clinical experience who has never undertaken an internship can, however, still

successfully apply for some residency programs. A residency offers advanced training in a

specialty area of veterinary medicine to veterinarians who intend to acquire a specialty

certification from an AVMA-recognized veterinary specialty organization. Veterinary specialty

organizations establish guidelines to ensure that these residencies are approved as appropriate

training for board eligibility and specialty certification. An approved residency program is

conducted under the supervision of a board-certified specialist. A residency is usually narrowly

confined to a specific discipline. A residency might, in some instances, be related to an

advanced degree program.

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Overall, in the entire Equine sample 20.9 percent of respondents reported residency

participation at some point during their veterinary career, compared to 13.0 percent of AVMA

respondents (Figure 41).

Figure 41: Distribution of Equine and AVMA Respondents’ Participation in a Residency

20.9% 13.0%

79.1% 87.0%

Equine (n=1,056) AVMA (n=2,530)

% o

f Res

pond

ents

Residency Participation

Distribution of Respondents' Participation in a Residency

I'm neither participating in, nor have I completed a residency

I have completed a residency

Page 168 of 577



Prior to actually participating in a residency, 27.4 percent of AAEP respondents had applied or

attempted to participate in a residency. More than two-thirds (69.6 percent) of the AAEP

respondents who reported that they had applied or attempted to participate in a residency had

completed a residency (Figure 42), while 23.5 percent ended up neither participating nor

completing a residency; 6.9 percent currently were participating in a residency.

Figure 42: Distribution of AAEP Respondents (Who Applied or Attempted to Participate in a Residency) by Residency Participation

Note: Chart includes respondents who did not participate in an internship but participated in a

residency.

6.9%

69.6%

23.5%

Distribution of AAEP Respondents (Who Applied or Attempted to Participate in a Residency) by Residency Participation

I am currently participatingin a residency (n=20)

I have completed aresidency (n=201)

I'm neither participating in,nor have I completed aresidency (n=68)

Page 169 of 577



Three-fifths (60 percent) of those Equine respondents who reported completing a residency did

so since 2000; for the same time period a slightly higher proportion of AVMA respondents (63.7

percent) reported doing so (Figure 43).

Figure 43: Distribution of Equine and AVMA Respondents by Year of Completed (or Future Completion) Residency

Note: Chart includes respondents who did not participate in an internship but participated in a

residency.

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

1974 orprior

1975 -1979

1980 -1984

1985 -1989

1990 -1994

1995 -1999

2000 -2004

2005 -2009

2010 -2014

2015 -2019

% o

f Res

pond

ents

Year of Residency Completion

Distribution of Respondents by Year of Completed (or Future Completion) Residency


Page 170 of 577



In contrast to internship participation, which had a large difference in Equine participation rates

(64.3 percent for females, and 37.9 percent for males), the residency gender distribution was

much tighter with 21.8 percent of males and 19.5 percent of female Equine respondents

participating in a residency (Figure 44).

Figure 44: Distribution of Equine and AVMA Respondents Who Participated in a Residency by Gender

19.5%

21.8%

16.4%

11.6%

Equine Male (n=85)

Equine Female (n=133)

AVMA Male (n=126)

AVMA Female (n=188)

Distribution of Respondents Who Participated in a Residency by Gender

Residency Participation

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Among Equine and AVMA respondents who previously replied that one of the reasons they

were participating in an internship was because they planned to apply for a residency, more

than half of these male and female Equine respondents and male AVMA respondents reported

completing (or currently participating in) a residency, while less than 50 percent of female

AVMA respondents with this reason for internship participation reported completing (or

currently participating in) a residency (Figure 45).

Figure 45: Distribution of Equine and AVMA Respondents Who Stated They Were Participating in an Internship because They Planned to Apply for a Residency, and Their Residency Completion Status by Gender

58.5% 58.9%64.7%

47.5%41.5% 41.1%

35.3%

52.5%

Equine - Male Equine - Female AVMA - Male AVMA - Female

% o

f Res

pond

ents

Residency Completion

Distribution of Respondents Who Stated They Were Participating in an Internship because They Planned to Apply for a Residency, and

Their Residency Completion Status by Gender

I have completed (or currently participating) in a residency

I'm neither participating in, nor have I completed a residency

Page 172 of 577



As with interns, residents also choose a program focus environment (Figure 46). The majority of

respondents across both Equine and AVMA samples participated in an academic/university

setting (Equine: 95.0 percent; AVMA: 84.1 percent). Academic settings are generally affiliated

with major veterinary teaching hospitals. The second most prevalent program location for

respondents pursuing residency training was in a private referral hospital. Of the Equine sample

respondents, 4.1 percent trained in a private hospital, compared to 9.8 percent of AVMA

respondents.

Figure 46: Distribution of Equine and AVMA Respondents by Program Focus of Residency

Privatereferralpractice

Privategeneralpractice

Academic/University

Not-for-profit

Corporate-ownedpractice

UniformedServices Other

Equine (n=221) 4.1% 0.5% 95.0% 0.5% 0% 0% 0%AVMA (n=328) 9.8% 0.6% 84.1% 1.5% 0.3% 1.5% 2.1%

0.0%10.0%20.0%30.0%40.0%50.0%60.0%70.0%80.0%90.0%

100.0%

% o

f Res

pond

ents

Residency Program

Distribution of Respondents by Program Focus of Residency


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Within the residency program, 76.5 percent of Equine respondents focused on equines,

followed by 14.5 percent who worked on mixed animal species, 6.3 percent other species, 1.8

percent food animals, and less than 1 percent companion animals. 43 percent of AVMA

respondents focused on companion animals, 22.3 percent other species, 18.5 percent mixed

animals, 8.3 percent exotic or zoological animals, and 8 percent equines (Figure 47).

Figure 47: Distribution of Equine and AVMA Respondents by Species Focus of Residency

About 44 percent of Equine respondents had a residency focus of surgery, followed by 28.5

percent in internal medicine (Table 20). In the AVMA sample, residency focus was more widely

distributed: 19.6 percent studied internal medicine, 19.3 percent focused on “Other”

specialties, and 16.8 percent trained in surgery.

0.0%

20.0%

40.0%

60.0%

80.0%

100.0%

Companionanimal

Equine Mixedanimal

Foodanimal

Exotic orzoological

animal

Other

% o

f Res

pond

ents

Species Focus

Distribution of Respondents by Species Focus of Residency


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Table 20: Distribution of Equine and AVMA Respondents by Primary Focus of Residency

Primary Focus Equine (n=221)

AVMA (n=327)

Surgery 44.3% 16.8% Internal Medicine 28.5% 19.6% Theriogenology 11.8% 0.0% General rotating 3.2% 2.7% Ambulatory 2.7% 0.0% Radiology 2.3% 0.0% Sports Medicine and Rehabilitation 1.8% 0.0% Dentistry 1.4% 0.0% Pathology 0.9% 10.4% Emergency/critical care 0.9% 4.9% Other 0.5% 19.3% Laboratory Animal Medicine 0.5% 13.8% Ophthalmology 0.5% 2.1% Pharmacology 0.5% 0.0% Veterinary Practitioners 0.5% 0.0% Oncology 0.0% 3.7% Neurology 0.0% 2.8% Anesthesia 0.0% 2.7% Dermatology 0.0% 1.2% Total 100.0% 100.0%

After veterinarians complete their residency, they have the opportunity to become board

certified. An individual who is board certified in a veterinary specialty generally participated in

an internship after graduation from veterinary school, followed by several years of advanced

residency training. Board certification is awarded once the individual demonstrates an

advanced level of knowledge and skill by successfully passing a certification examination

developed and administered by an AVMA-recognized veterinary specialty organization.

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A higher percent of Equine respondents (18.3 percent) than AVMA respondents (14.8 percent)

reported being board certified. Of those Equine respondents who are board certified, 39.9

percent are board certified in surgery, 25.9 percent in internal medicine, and the remainder

across several other categories (Table 21). In the AVMA sample, 18.9 percent are certified in

internal medicine, 12.5 percent in surgery and 12 percent in laboratory animal medicine.

Table 21: Distribution of Board-Certified Equine and AVMA Respondents by AVMA-Recognized Veterinary Specialty Organizations

AVMA-Recognized Veterinary Specialty Organizations

Equine (n=193)

AVMA (n=371)

Surgery 39.9% 12.5% Internal Medicine 25.9% 18.9% Theriogenology 11.9% 3.5% Veterinary Practitioners 9.8% 7.2% Sports Medicine and Rehabilitation

9.8% 1.1%

Emergency & Critical Care 5.7% 4.3% Radiology 2.6% 3.5% Preventive Medicine 2.1% 9.3% Other 1.6% 5.3% Pathology 1.0% 8.8% Microbiology 1.0% 2.9% Pharmacology 1.0% 1.1% Dentistry 1.0% 0.8% Laboratory Animal Medicine 0.5% 12.0% Anesthesia 0.5% 2.7% Zoological Medicine 0.5% 2.1% Ophthalmology 0.5% 1.3% Poultry Veterinarians 0.0% 2.9% Nutrition 0.0% 1.3% Toxicology 0.0% 1.1% Animal Welfare 0.0% 1.1% Dermatology 0.0% 0.8% Behavior 0.0% 0.3%

Page 176 of 577



3.6.4 College Preparedness

Survey data indicated that 29.5 percent of Equine respondents and 30.4 percent of AVMA

respondents believed that their education prepared them “moderately well,” “not too well,” or

“not well at all” for life after veterinary college. The graduation year was found to be significant

with regard to educational preparation, and is presented in Figure 48. Among the Equine

respondents, 51.5 percent of those who graduated in 2012-2016 were satisfied “moderately

well,” “not too well” or “not well at all” with their college education, compared to 39.3 percent

of AVMA respondents. In the Equine sample, the respondents choosing “extremely well”

declined within each group of respondents as identified by year of graduation beginning with

1966 or prior. Those who indicated they were “very well prepared” showed an increasing trend

across graduation groups up to 2011. But only 39.8 percent of Equine respondents who

graduated in 2012-2016 reported being very well prepared, down from a high of 54.7 percent

of the 2007-2011 cohort. Respondents in the AVMA sample who answered “very well

prepared” was 47.2 percent for the 2007-2011 cohort and 50.4 percent in 2012-2016.

Page 177 of 577



2012-2016

(n=241)

2007-2011

(n=179)

1997-2006

(n=168)

1987-1996

(n=170)

1977-1986

(n=166)

1967-1976

(n=92)

1966 orprior

(n=24)Not well at all 0.8%0.0%0.6%0.0%0.0%0.0%0.0%Not too well 5.0%1.7%0.6%1.2%1.8%1.1%0.0%Moderately well 45.6%27.9%28.0%19.4%15.1%9.8%8.3%Very well 39.8%54.7%51.8%47.6%45.8%35.9%29.2%Extremely well 8.7%15.6%19.0%31.8%37.3%53.3%62.5%

0%10%20%30%40%50%60%70%80%90%

100%

% o

f Res

pond

ents

Graduation Year

Distribution of Equine Respondents' Attitudes About College Education Preparation by Graduation Year

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Figure 48: Distribution of Equine and AVMA Respondents’ Attitudes about College Education Preparation by Graduation Year

3.6.5 Most Important Skills for New Veterinarians

In addition to learning specific skills in the veterinary medical curriculum, during an internship

and/or residency veterinarians may be exposed to newly developed techniques or variations of

treatment methods. Other skills are learned through continuing education or developed though

experience on the job. Employers typically expect new associates to possess certain entry-level

skills.

A specific question in the 2016 AVMA-AAEP Survey of Equine Practitioners asked respondents to

answer the question: “For each procedure below, please indicate whether or not it is important

for new associates to have mastery of it to work in the practice you own or are employed at.”

This question was specific to the AAEP survey, so only the AAEP sample was used for analysis.

2012-2016

(n=601)

2007-2011

(n=506)

1997-2006

(n=650)

1987-1996

(n=363)

1977-1986

(n=189)

1967-1976

(n=111)

1966 orprior

(n=79)Not well at all 0.5%0.0%0.2%0.0%0.0%0.0%0.0%Not too well 3.2%3.8%2.2%1.4%1.6%0.9%1.3%Moderately well 35.6%33.6%28.0%22.9%13.8%10.8%11.4%Very well 50.4%47.2%46.3%44.9%47.1%40.5%45.6%Extremely well 10.3%15.4%23.4%30.9%37.6%47.7%41.8%

0%10%20%30%40%50%60%70%80%90%

100%

% o

f Res

pond

ents

Graduation Year

Distribution of AVMA Respondents' Attitudes About College Education Preparation by Graduation Year

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About 90 percent of the AAEP respondents stated that it was important for new associates to

have mastery of diagnosing and treating foot abscesses, and of examining and repairing simple

lacerations. Diagnosing uncomplicated lameness using diagnostic nerve blocks, obtaining

diagnostic radiographs of limbs, performing a complete physical or ophthalmic exam, placing IV

catheters and subpalpebral lavage systems, setting up preventative health protocols, and

working up, treating and making recommendations for colic cases in the field were reported to

be essential basic skills by more than 80 percent of AAEP respondents. Less than 20 percent of

respondents considered the ability to perform gastroscopy or a standing castration as entry-

level skills. About one-third of AAEP respondents considered applying a foot or limb cast,

obtaining diagnostic radiographs of neck, performing abdominocentesis, thoracocentesis, a

transtracheal wash, rectal biopsy or other similar diagnostic procedures, and performing

diagnostic ultrasound of the abdomen or thorax as important for a new graduate (Table 22).

Table 22: Distribution of AAEP Respondents and the Importance of Specific Procedures for New Associates to Have Mastery of

Procedure Important Not important

Not relevant

Total

Diagnose and treat foot abscess 90.6% 2.1% 7.3% 100.0% Examine and repair simple lacerations 90.4% 1.3% 8.3% 100.0% Work up, treat and make recommendations for colic case in the field, including performing rectal examination, passage of nasogastric tube, and checking for or obtaining reflux

88.7% 2.9% 8.4% 100.0%

Perform complete physical or ophthalmic exam and document complete medical record

87.6% 4.2% 8.1% 100.0%

Diagnose uncomplicated lameness using diagnostic nerve blocks

84.9% 6.7% 8.4% 100.0%

Obtain diagnostic radiographs of limbs 84.8% 5.0% 10.2% 100.0% Set up preventative health protocols 84.7% 6.8% 8.5% 100.0% Place IV catheters, subpalpebral lavage systems, etc.

83.2% 8.4% 8.4% 100.0%

Remove shoes using common farrier's tools 79.8% 11.4% 8.9% 100.0% Perform routine dental maintenance (e.g., "floating", removing wolf teeth)

79.6% 7.4% 13.0% 100.0%

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Perform castration in recumbent anesthetized patient

74.8% 14.5% 10.8% 100.0%

Perform routine reproductive procedures such as Caslicks and uterine culture

73.7% 14.0% 12.3% 100.0%

Induce and recover patient in the field with intravenous anesthesia

69.0% 19.7% 11.3% 100.0%

Ultrasound mares and diagnose singleton pregnancy at 16-18 days post ovulation

63.3% 19.8% 16.9% 100.0%

Obtain samples from or inject substances into synovial structures such as joints or tendons

62.9% 26.4% 10.7% 100.0%

Perform diagnostic ultrasound of distal limbs 47.9% 40.1% 12.0% 100.0% Perform a regional limb perfusion 46.6% 39.3% 14.1% 100.0% Obtain diagnostic radiographs of head 44.6% 43.4% 12.0% 100.0% Perform endoscopy 43.4% 36.6% 20.0% 100.0% Perform diagnostic ultrasound of thorax (e.g., Rhodococcus equi screen, screen for pleuritis)

38.3% 46.2% 15.5% 100.0%

Perform abdominocentesis, thoracocentesis, transtracheal wash, rectal biopsy, and other similar diagnostic procedures

37.7% 47.0% 15.3% 100.0%

Apply a foot or limb cast 33.3% 47.1% 19.5% 100.0% Obtain diagnostic radiographs of neck 33.2% 52.3% 14.5% 100.0% Perform diagnostic ultrasound of abdomen (e.g. ileus, hemoabdomen, peritonitis)

30.6% 50.8% 18.7% 100.0%

Perform gastroscopy 19.2% 45.2% 35.5% 100.0% Perform castration in standing sedated patient 16.9% 44.2% 38.8% 100.0%

The expectation for entry-level associates to have mastery of a certain procedure may change

over time. To examine this, Table 23 presents procedures identified as important by

respondents who have less than 20 years of experience in the veterinary field, and by

respondents who have more than 20 years of experience in the veterinary field.

Certain procedures were felt to have different levels of importance by those respondents who

have under 20 years of experience compared to those with more than 20 years of experience.

For example, 41.4 percent of AAEP respondents with more than 20 years of experience stated

that applying a foot or limb cast is an important skill for new associates to have, compared to

Page 181 of 577



26.8 percent of veterinarians with fewer than 20 years of experience. In contrast, 55.8 percent

of veterinarians with fewer than 20 years of experience stated it is important for new associates

to be comfortable performing a regional limb perfusion, compared to 34.4 percent of

veterinarians with more than 20 years of experience. Additionally, 92.4 percent of

veterinarians with fewer than 20 years of experience stated it is important for new associates

to be skilled at performing a complete physical or ophthalmic exam, compared to 81.2 percent

of respondents with more than 20 years of experience. 86.3 percent of the former group

responded similarly regarding performing routine dental maintenance, compared to 70.6

percent of the latter group.

Some skills were reported by respondents as not relevant. Because of the variety of sectors in

which equine practitioners practice, some skills are not needed in some settings.

Table 23: Distribution of AAEP Respondents and the Importance of Specific Procedures for New Associates to Have Mastery by Years of Experience

Procedure - Less than 20 years of experience

Obs. Important Not important

Not relevant

Total

Apply a foot or limb cast 291 26.8% 58.4% 14.8% 100.0% Diagnose and treat foot abscess 291 94.8% 1.0% 4.1% 100.0% Diagnose uncomplicated lameness using diagnostic nerve blocks

291 87.6% 7.2% 5.2% 100.0%

Examine and repair simple lacerations 290 94.8% 0.3% 4.8% 100.0% Induce and recover patient in the field with intravenous anesthesia

291 70.1% 21.3% 8.6% 100.0%

Obtain diagnostic radiographs of head 290 43.4% 50.3% 6.2% 100.0% Obtain diagnostic radiographs of limbs 289 88.6% 5.2% 6.2% 100.0% Obtain diagnostic radiographs of neck 290 29.3% 62.4% 8.3% 100.0% Obtain samples from or inject substances into synovial structures such as joints or tendons

291 64.9% 27.8% 7.2% 100.0%

Perform a regional limb perfusion 292 55.8% 36.3% 7.9% 100.0% Perform abdominocentesis, thoracocentesis, transtracheal wash,

288 33.0% 54.2% 12.8% 100.0%

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rectal biopsy, and other similar diagnostic procedures Perform castration in recumbent anesthetized patient

289 75.1% 17.0% 8.0% 100.0%

Perform castration in standing sedated patient

291 13.4% 47.4% 39.2% 100.0%


291 92.4% 3.1% 4.5% 100.0%

Perform diagnostic ultrasound of abdomen (e.g. ileus, hemoabdomen, peritonitis)

292 33.2% 51.7% 15.1% 100.0%

Perform diagnostic ultrasound of distal limbs

287 48.1% 44.9% 7.0% 100.0%

Perform diagnostic ultrasound of thorax (e.g. Rhodococcus equi screen, screen for pleuritis)

290 41.7% 46.2% 12.1% 100.0%

Perform endoscopy 290 39.3% 40.7% 20.0% 100.0% Perform gastroscopy 289 18.7% 48.8% 32.5% 100.0% Perform routine dental maintenance (e.g., "floating", removing wolf teeth)

291 86.3% 6.9% 6.9% 100.0%


291 72.9% 16.8% 10.3% 100.0%

Place IV catheters, subpalpebral lavage systems, etc.

292 86.0% 9.2% 4.8% 100.0%

Remove shoes using common farrier's tools

289 83.4% 11.8% 4.8% 100.0%

Set up preventative health protocols 290 90.3% 5.2% 4.5% 100.0% Ultrasound mares and diagnose singleton pregnancy at 16-18 days post ovulation

291 64.9% 21.6% 13.4% 100.0%

Work up, treat and make recommendations for colic case in the field, including performing rectal examination, passage of nasogastric tube, and checking for or obtaining reflux

292 93.8% 1.4% 4.8% 100.0%

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Procedure - More than 20 years of experience

Obs. Important Not important

Not relevant

Total

Apply a foot or limb cast 227 41.4% 32.6% 26.0% 100.0% Diagnose and treat foot abscess 227 85.0% 3.5% 11.5% 100.0% Diagnose uncomplicated lameness using diagnostic nerve blocks

228 81.1% 6.1% 12.7% 100.0%

Examine and repair simple lacerations

226 84.5% 2.7% 12.8% 100.0%

Induce and recover patient in the field with intravenous anesthesia

228 67.1% 18.0% 14.9% 100.0%

Obtain diagnostic radiographs of head

223 46.6% 33.6% 19.7% 100.0%

Obtain diagnostic radiographs of limbs

228 79.8% 4.8% 15.4% 100.0%

Obtain diagnostic radiographs of neck

225 38.2% 39.1% 22.7% 100.0%

Obtain samples from or inject substances into synovial structures such as joints or tendons

228 59.6% 25.0% 15.4% 100.0%

Perform a regional limb perfusion 224 34.4% 43.3% 22.3% 100.0% Perform abdominocentesis, thoracocentesis, transtracheal wash, rectal biopsy, and other similar diagnostic procedures

225 44.4% 36.9% 18.7% 100.0%

Perform castration in recumbent anesthetized patient

227 74.9% 10.6% 14.5% 100.0%

Perform castration in standing sedated patient

225 21.8% 40.0% 38.2% 100.0%


223 81.2% 5.8% 13.0% 100.0%

Perform diagnostic ultrasound of abdomen (e.g. ileus, hemoabdomen, peritonitis)

224 27.2% 49.1% 23.7% 100.0%

Perform diagnostic ultrasound of distal limbs

226 47.8% 33.6% 18.6% 100.0%

Perform diagnostic ultrasound of thorax (e.g. Rhodococcus equi screen, screen for pleuritis)

223 34.1% 45.7% 20.2% 100.0%

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Perform endoscopy 226 48.7% 31.0% 20.4% 100.0% Perform gastroscopy 222 19.8% 40.5% 39.6% 100.0% Perform routine dental maintenance (e.g., "floating", removing wolf teeth)

221 70.6% 8.1% 21.3% 100.0%


225 75.6% 9.8% 14.7% 100.0%

Place IV catheters, subpalpebral lavage systems, etc.

228 79.8% 7.0% 13.2% 100.0%

Remove shoes using common farrier's tools

226 75.7% 10.2% 14.2% 100.0%

Set up preventative health protocols

225 77.8% 8.4% 13.8% 100.0%

Ultrasound mares and diagnose singleton pregnancy at 16-18 days post ovulation

225 61.8% 16.9% 21.3% 100.0%

Work up, treat and make recommendations for colic case in the field, including performing rectal examination, passage of nasogastric tube, and checking for or obtaining reflux

228 82.0% 4.8% 13.2% 100.0%

Competencies are skill or knowledge sets that make a practitioner successful at their work.

AAEP respondents were asked to rank 10 workplace competencies, on a scale of one to 10, on

their importance for new associates (Table 24). In general, people skills ranked higher than

organizational, technical or writing skills. People skills were cited as the most important

competency by 63.9 percent, followed by client communication (21.2 percent), and customer

service skills (4.8 percent). The three competencies ranked the least important were public

speaking (57.7 percent), technology proficiency (21.4 percent) and writing proficiency (11.9

percent).

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Table 24: Distribution of AAEP Respondents’ Important Competencies of New Associates

AAEP (n=496) Mean Rank 1 Rank 2 Rank 3 Rank 4 Rank 5 Total

People skills 1.7 63.9% 19.6% 8.3% 3.8% 2.2% 100.0% Ability to collaborate 4.5 3.4% 15.3% 16.3% 18.5% 16.1% 100.0% Client communication 2.5 21.2% 37.5% 25.4% 9.1% 4.4% 100.0% Conflict resolution 6.3 0.6% 1.8% 4.0% 14.9% 15.1% 100.0% Customer service skills 4.0 4.8% 12.9% 26.4% 21.8% 15.7% 100.0% Efficient use of resources

5.7 2.2% 3.8% 7.7% 10.3% 19.6% 100.0%

Organizational skills 5.8 1.0% 4.6% 6.9% 12.3% 16.3% 100.0% Proficiency in writing 8.2 0.2% 0.0% 0.6% 1.2% 2.0% 100.0% Public speaking 9.3 0.0% 0.2% 0.2% 0.4% 0.6% 100.0% Technology proficiency 7.0 2.6% 4.2% 4.2% 7.7% 7.9% 100.0%

AAEP (n=496) Mean Rank 6 Rank 7 Rank 8 Rank 9 Rank 10 Total

People skills 1.7 1.4% 0.6% 0.2% 0.0% 0.0% 100.0% Ability to collaborate 4.5 10.9% 10.3% 5.0% 3.2% 0.8% 100.0% Client communication 2.5 1.8% 0.4% 0.0% 0.0% 0.2% 100.0% Conflict resolution 6.3 15.9% 15.5% 15.5% 10.7% 5.8% 100.0% Customer service skills 4.0 9.3% 6.7% 1.6% 0.6% 0.2% 100.0% Efficient use of resources

5.7 22.4% 19.4% 10.5% 2.6% 1.6% 100.0%

Organizational skills 5.8 19.0% 23.6% 11.5% 4.4% 0.4% 100.0% Proficiency in writing 8.2 5.0% 11.3% 31.3% 36.5% 11.9% 100.0% Public speaking 9.3 1.6% 3.4% 8.7% 27.2% 57.7% 100.0% Technology proficiency 7.0 12.7% 8.9% 15.7% 14.7% 21.4% 100.0%

3.6.6 Equine Veterinarians Leaving the Equine Profession

Despite respondents reporting that their veterinary education prepared them well for their

career, young equine veterinarians are leaving the profession. AAEP membership data show

that many young veterinarians fail to renew their AAEP membership after five years from their

graduation date from veterinary school, and that the trend is slowly increasing (Figure 49): 37

Page 186 of 577



percent of members who were in the Class of 2000 did not renew their AAEP membership after

five years, 50 percent of members who were in the Class of 2011 did not renew their

membership after five years, and 47 percent of members who were in the Class of 2012 did not

renew their membership after five years. Starting with the Class of 2000, almost half (45

percent) of former AAEP members dropped their membership within five years of their

graduation date.

Figure 49: AAEP Membership Attrition by Graduation Year, 2000-201217

The Equine respondents were asked if they had changed from working in one veterinary sector

to another. A little more than one-quarter of Equine respondents (26.5 percent) reported

having made a change at some point during their career. Of the Equine respondents who

reported a change, 39 percent (91 out of 233 Equine respondents) who started in the equine

profession reported that they made their first change out of the equine veterinary sector.

17 Source: AAEP Membership Database

2000 2008 2009 2010 2011 2012% Attrition after 5 Years 37% 49% 44% 33% 50% 47%

0%

10%

20%

30%

40%

50%

60%

% o

f AAE

P M

embe

rs n

ot R

enew

ing

M

embe

rshi

p af

ter F

ive

Year

s

Graduation Year

AAEP Membership Attrition by Graduation Year, 2000-2012

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Of the Equine respondents who were currently not in equine medicine, and reported how many

years they worked as an equine veterinarian, 67.4 percent were in the equine profession from

zero to five years after graduation, 14.6 percent six to 10 years, 5.6 percent 11-15 years, and

13.3 percent 16 years or more (Figure 50).

Figure 50: Distribution of Equine Respondents Leaving the Equine Profession by Timeframe of Departure

When the respondents who reported leaving the equine veterinary sector and who are not

currently practicing in equine medicine are analyzed by graduation year, 100 percent of

respondents who graduated within the last five years obviously did so within five years of

graduation, followed by 91.3 percent from 2007-2011, and 27.8 percent from 1987-1996

(Figure 51). An additional 18 respondents who graduated prior to 1987 reported leaving equine

practice within five years of graduation.

67.4%

14.6%5.6%

11.2%1.1%%

of R

espo

nden

ts

Years after Graduation

Distribution of Equine Respondents Leaving the Equine Profession by Timeframe of Departure (n=89)

Page 188 of 577



Figure 51: Distribution of Equine Respondents Who Reported Leaving the Equine Profession within Five Years after Graduation by Graduation Year

100.0%91.3%

56.3%

27.8%

45.5%57.1%

2012-2016(n=15)

2007-2011(n=23)

1997-2006(n=16)

1987-1996(n=18)

1977-1986(n=11)

1967-1976(n=7)

% o

f Res

pond

ents

Graduation Year

Distribution of Equine Respondents Who Reported Leaving the Equine Profession within Five Years after Graduation by

Graduation Year

Left equine 5 years or prior

Page 189 of 577



Factors That Are Significant in Explaining the Population of Veterinarians Who Have Left the

Equine Profession within Five Years of Entering the Profession After Graduation

A binary logit model identified factors associated with a veterinarian who had left the equine

veterinary profession within five years of entering after graduation. A binary logit measures the

relationship between the variable of interest (dependent variable) and the factors

(independent variables) hypothesized to affect the variable of interest. In the binary logistic

regression, however, the dependent variable has only two values (1=yes, 0=no) and the

relationship measured is the probability of the dependent variable occurring when the factor

occurs. The dependent variable taking on the value of 1 is veterinarians who left equine

medicine within five years of entering the equine veterinary profession after veterinary school

graduation; the variable is 0 if they did not leave equine medicine within five years but left after

five years of entering the equine veterinary profession after graduation.

Independent variables used to identify factors associated with a veterinarian who had left the

equine veterinary profession within five years of entering after graduation included year of

graduation, gender, board certification, residency and internship participation, education level,

public practice, and education preparation.

In Table 25, the coefficients are used to calculate the probability of an individual respondent

falling into a specific category (left equine veterinary practice within five years or left equine

veterinary practice after five years of veterinary graduation). The main condition is determined

through identifying whether the coefficient is positive or negative. This will indicate the

direction of the relationship (i.e., negative is less likely to have left the equine veterinary

profession within five years and positive is more likely to have left the equine veterinary

profession within five years).

Page 190 of 577




.10 or less in the column labeled “Sig.” Variables that are significant at the 10, 5 and 1 percent

level are reported in explaining the factors affecting leaving the equine veterinary profession

within five years. The “Odds Ratio” column is the probability of having left assigned to each of

the independent variables, and is defined as “the change in odds of being in one of the

categories of outcome (left equine veterinary profession within five years or did not leave

equine veterinary profession within five years but left after five years post graduation) when

the value of one of the independent variables (predictors) increases by one point.”18 To

interpret the odds ratio, the odds ratio value is subtracted by one to obtain the likelihood of the

event occurring.

Results show that for Equine respondents who participated in an internship compared to those

who did not participate in an internship, the odds of having left equine medicine within five

years versus having left equine medicine after five years was 5.87 times greater, given the other

variables are held constant in the model; for a respondent who is currently in public practice

compared to private practice, the odds of having left equine medicine within five years versus

having left equine medicine after five years is 35.57 times greater, given the other variables are

held constant in the model. For each additional year since graduation, the odds of having left

equine medicine within five years versus having left equine medicine after five years is .11

times lower, given the other variables are held constant in the model.


Page 191 of 577



Table 25: Factors That Are Significant in Explaining the Population of Veterinarians Who Have Left the Equine Profession within Five Years of Entering the Profession After Graduation

Equine Coefficient Std. Error Sig. Odd Ratio

Gender (Female=1) 0.306 1.038 0.77 1.36 Graduation Year -0.113 0.048 0.02** 0.89 Board Certified (Yes=1) -0.304 1.728 0.86 0.74 Residency (Yes=1) -2.256 1.791 0.21 0.10 Bachelor’s (baseline) Omitted Ph.D. -0.384 2.252 0.87 0.68 Master’s 0.464 1.797 0.80 1.59 Education Preparation (5=Extremely well/1=Not well at all) 0.560 0.815 0.49 1.75 Internship (Yes=1) 1.770 0.912 0.05* 5.87 Public Practice (Yes=1) 3.572 1.733 0.04** 35.57 Constant -0.431 3.150 0.89 0.65

Observations 60


***, **, and * indicate significance at the 1 percent, 5 percent and 10 percent levels, respectively

Note: DVM only was removed because the variable did not permit estimation.

3.6.7 New Veterinarian Starting Salaries

From 2001 through 2017, the mean starting salary for new graduate veterinarians increased

from just under $40,000 to more than $60,000, according to the AVMA Senior Survey. These

numbers are inclusive of those finding full-time employment along with those pursuing

internships, residencies and advanced education (Figure 52). Since 2009, private practice has

offered the highest starting salaries. It was not until the 2007-2009 financial crisis that salaries

in public practice began trailing behind. Prior to that, salaries of new veterinarians in public

practice and private practice were generally equivalent. The data seem to show that the effect

of the recession on state and federal budgets has had a larger impact on public practice

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incomes than the impact of the recession on private practice incomes. Both are below their

long-term trend but following a similar direction in terms of growth.

Figure 52: Mean Starting Salaries of New Veterinarians 19

19 Source: AVMA Senior Survey, 2001-2017

$-

$10,000

$20,000

$30,000

$40,000

$50,000

$60,000

$70,000

$80,000

$90,000

Star

ting

Sala

ry ($

)

Graduation Year

Mean Starting Salaries of New Veterinarians

ALL

Public Practice

Private Practice

Advanced Education

Internships

Residencies

Internships/Residencies/Advanced Education

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Although starting salaries among new veterinarians in private practice have been on a steady

incline, new veterinarians pursuing employment in the equine industry have consistently

experienced the lowest starting salaries (Figure 53). Internship salaries are not included in this

analysis of starting salaries.

Figure 53: Mean Starting Salaries of New Veterinarians — Private Practice 20


$-

$10,000

$20,000

$30,000

$40,000

$50,000

$60,000

$70,000

$80,000

$90,000

Star

ting

Sala

ry ($

)

Graduation Year

Mean Starting Salaries of New Veterinarians — Private Practice

Food animal practice(exclusive)

Food animal practice(predominant)

Mixed practice

Companion animal practice(predominant)

Companion animal practice(exclusive)

Equine practice

Page 194 of 577



Factors Affecting Starting Salaries of New Veterinarians

Using respondents from the 2001-2016 AVMA Senior Survey(s) to explain the factors affecting

the variation in starting salaries after graduation from veterinary school, a multiple linear

regression was used to determine factors significant in explaining the variation. Two models are

presented: a new veterinarian model specific to respondents who entered full-time equine

veterinary practice, and a second model that includes all new veterinarian respondents who are

working full-time. Variables that are significant at the 10, 5, and 1 percent level are reported in

explaining the factors affecting new veterinarian starting salaries. The main factors under

observation were year of graduation, age, gender, veterinary educational debt, additional

degrees held, participation in an internship and residency, work region, and a respondent’s first

veterinary position.

The coefficient in Table 26 indicates the dollar value impact of the corresponding variable on

starting salaries of new veterinarians. For instance, starting with a constant of $52,353.90 of

new equine veterinarian respondents, the value of coefficients (multiplied by the value of the

factor) is added. That is, a new veterinarian who graduated in 2016 would have had estimated

mean starting salary of $62,227.50 ($52,353.90 plus 16 times 617.10), holding all else constant.

The final column labeled “Sig.” represents the significant variables. These variables, also known

as p-values, are such that for a “sig” less than 0.10, the coefficient is statistically different from

“0.” For instance, for new equine veterinarian respondents who went to school in Region 0, the

p-value is 0.00; this means it is statistically significantly different from the baseline, Region 921.

The following factors were statistically significant in explaining the variation in new equine

veterinarian respondent starting salaries, at the 10 percent level of significance or less: year of

21 Baseline variables are used for comparison to avoid statistical errors.

Page 195 of 577



graduation, gender, anticipated work hours per week, student veterinary debt, master’s

degree, Region 0 and Region 8.

The following factors were statistically significant in explaining the variation in all new

veterinarian respondents at the 10 percent level of significance or less: year of graduation,

gender, anticpated work hours per week, student veterinary debt, Regions 1 – 8, and all first

veterinary positions, excluding “other veterinary employment.”

The coefficient for gender, $5,734.89, indicates that on average, new equine veterinarian

female respondents receive about $6,000 less in starting salary than new equine veterinarian

male respondents.

The coefficient for Region 0, -$9,774.93, indicates that on average, new equine veterinarian

respondents who work in Region 0 earn about $9,700 less than respondents who work in

Region 9, the baseline variable ($2,606.24 less for the new veterinarian respondent sample).

The factors that were included in this model produced an adjusted R-square of 0.1836 in the

new equine veterinarian model, and .4342 in the whole new veterinarian model. This indicates

that the inclusion of all these factors was able to explain 18 percent and 43 percent of the

variation between the individually reported starting salaries and the estimated mean starting

salary for all new graduates between 2001 and 2016. Thus, there are important variables that

determine starting salaries that have not been included, and are due to other unobservable

factors.

Page 196 of 577



Table 26: Factors Affecting Starting Salaries of New Veterinarians

New Equine Veterinarian Coefficient Std. Error Sig.

Graduation Year 617.10 132.39 0.00*** Age 13.40 161.25 0.93 Gender (Female=0) 5734.89 1233.54 0.00*** Anticipated work hours per week -334.38 37.96 0.00*** DVM Debt 0.03 0.01 0.00*** Admitted before degree was completed 2005.94 1592.84 0.21 Bachelor’s (baseline) Omitted Master’s 5360.99 2188.49 0.02** Ph.D. 3595.66 7974.52 0.65 Other professional degree -787.10 6232.57 0.90 Other degree -2854.30 4963.53 0.57 Region 0 -9774.93 2703.77 0.00*** Region 1 1130.33 2411.78 0.64 Region 2 -2209.42 2103.87 0.29 Region 3 -3309.49 2021.47 0.10* Region 4 667.46 1991.48 0.74 Region 5 -2071.49 2717.04 0.45 Region 6 1192.20 4247.58 0.78 Region 7 -2077.34 2009.44 0.30 Region 8 -6322.28 2417.60 0.01*** Region 9 (baseline) Omitted Constant 52353.90 5414.21 0.00***

Observations 693

Adjusted R-Square 0.1836


New Veterinarian Coefficient Std. Error Sig.

Graduation Year 1759.95 23.41 0.00*** Age 32.36 30.00 0.28 Gender (Female=0) 3708.77 235.34 0.00*** Anticipated work hours per week -190.56 11.89 0.00*** DVM Debt 0.01 0.00 0.00***

Page 197 of 577



Admitted before degree was completed -254.79 308.66 0.41 Bachelor’s (baseline) Omitted Master’s 511.34 426.82 0.23 Ph.D. -823.32 1413.77 0.56 Other professional degree 1945.18 1871.19 0.30 Other degree -1247.49 1361.03 0.36 Region 0 -2606.24 554.15 0.00*** Region 1 -1193.64 509.04 0.02** Region 2 -2860.88 437.00 0.00*** Region 3 -4020.25 418.31 0.00*** Region 4 -4165.31 440.32 0.00*** Region 5 -5414.38 475.57 0.00*** Region 6 -5031.69 458.23 0.00*** Region 7 -1952.50 428.48 0.00*** Region 8 -837.33 465.22 0.07* Region 9 (baseline) Omitted First Position - Food Animal (exclusive) 1276.97 577.30 0.03** First Position - Food Animal (predominant) -3045.33 544.47 0.00*** First Position - Mixed Animal -4625.78 301.26 0.00*** First Position - Companion Animal (exclusive) (baseline)

Omitted

First Position – Companion Animal (predominant) -1437.04 310.21 0.00*** First Position - Equine -18386.44 527.29 0.00*** First Position - Federal Government -5829.46 1331.48 0.00*** First Position - Uniformed Services -2721.73 643.77 0.00*** First Position - University/College -27973.47 1447.48 0.00*** First Position - State/Local Government -10610.42 2910.19 0.00*** First Position - Industry/Commercial 9195.61 1701.08 0.00*** First Position - Not-for-profit -9018.46 1378.51 0.00*** First Position - Other veterinary employment -1187.49 2218.39 0.59 Constant 55733.47 1093.41 0.00*** Observations 14,914 Adjusted R-Square 0.4342


Page 198 of 577



3.7 EDUCATIONAL DEBT OF NEW VETERINARIANS

Since 2005, the gap between student debt and professional income has widened sharply. The

rapid and persistent expansion of this debt-to-income ratio for new veterinarians represents a

major challenge for the entire veterinary profession and is inclusive of the equine profession.

Figure 54 shows the increase in educational debt load of new graduates in the equine

veterinary profession. Using the Consumer Price Index (CPI) by the Bureau of Labor Statistics,

the debt was adjusted for inflation to current dollars. Over a 15-year period, real mean debt of

new veterinarians in fields other than equine has more than doubled – from $70,726 in 2001 to

$142,732 in 2016, a difference of $75,372. New equine veterinarians’ real mean debt has risen

from $90,670 to $131,325.

Figure 54: Real Mean Debt for New Graduates in the Equine Profession vs. All Other Veterinary Fields

This section looks at summary statistics and an analysis of veterinary educational debt to

determine whether significant differences in mean veterinary educational debt exist among

different demographics when comparing Equine respondents to AVMA respondents. The mean

$90,670 $131,325

$70,726

$142,732

$-

$50,000

$100,000

$150,000

$200,000

2001 2003 2005 2007 2009 2011 2013 2015Amou

nt o

f DVM

Deb

t ($)

Graduation Year

Real Mean Debt for New Graduates in the Equine Profession vs. All Other Veterinary Fields (n=751)

Equine Other Types

Page 199 of 577



data for comparable groups (e.g., mean veterinary educational debt for men vs. mean

veterinary educational debt for women) were evaluated using t-statistics to test whether or not

differences observed are statistically significant. The demographic factors considered are

number of years since DVM graduation, level of education, internship and residency

participation, board certification, gender, type of employment, location, practice ownership,

type of community, equine sector, and size of community. For each sample, the mean and the

standard deviation of veterinary educational debt, as well as the first, the second, and the third

quartiles are presented. In addition, data were analyzed using a multiple regression model to

determine factors affecting veterinary educational debt.

3.7.1 Summary Statistics

More than 58 percent of Equine respondents (AVMA: 58.4 percent) had no educational debt

prior to veterinary school, 30.3 percent had under $25,000 (AVMA: 30.1 percent) and 11.2

percent had more than $25,000 in educational debt (AVMA: 11.5 percent).

The distribution of respondents’ pre-veterinary educational debt by gender and graduation year

is presented in Figures 55 and Figure 56. Equine and AVMA respondents had almost identical

distributions in all figures. More than 94 percent of the male Equine respondents (AVMA Males:

91.4 percent) had pre-veterinary debt under $25,000, compared to 85.3 percent of the females

(AVMA Females: 87.4 percent). A higher percentage of respondents who graduated after 1997

in both the Equine and AVMA samples reported pre-veterinary school educational debt over

$25,000 compared to the respondents who graduated prior to 1997.

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Figure 55: Distribution of Equine and AVMA Respondents’ Pre-Veterinary Educational Debt by Gender

61.3%

33.1%

3.5% 2.1%

$0 $1-$25,000 $25,001-$50,000 $50,001 +

% o

f Res

pond

ents

Pre-Veterinary Debt ($)

Distribution of Respondents' Pre-Veterinary Educational Debt by Gender

Equine - Male (n=287) Equine - Female (n=470)

AVMA - Male (n=521) AVMA - Female (n=1,363)

2012-2016

2007-2011

1997-2006

1987-1996

1977-1986

1967-1976

1966or

prior$50,001 + 6.1%4.6%3.8%0.9%0.0%0.0%0.0%$25,001-$50,000 11.6%9.2%10.7%5.3%1.0%0.0%0.0%$1-$25,000 28.8%28.9%26.7%38.9%34.3%30.4%0.0%$0 53.5%57.2%58.8%54.9%64.7%69.6%100.0%

0.0%20.0%40.0%60.0%80.0%

100.0%120.0%

% o

f Res

pond

ents

Graduation Year

Distribution of Equine Respondents Pre-Veterinary Educational Debt by Graduation Year

Page 201 of 577



Figure 56: Distribution of Equine and AVMA Respondents’ Pre-Veterinary Educational Debt by Graduation Year

More than two-thirds (70.8 percent) of Equine respondents incurred debt from their veterinary

medical education (AVMA: 79.2 percent). Table 27 shows the mean student debt from post-

secondary education. Equine respondents had, on average, student debt of $92,918 compared

to AVMA respondents who reported an average of $114,202.

Table 27: Distribution of Equine and AVMA Respondents’ Mean Student Debt

Obs. Mean Std. Dev 1st Quartile Median 2nd Quartile

Equine 739 92,918 82,524 25,000 71,000 140,000 AVMA 1,902 114,202 97,005 40,000 100,000 160,000

2012-2016

2007-2011

1997-2006

1987-1996

1977-1986

1967-1976

1966or

prior$50,001 + 6.6%3.0%3.4%1.1%1.6%0.0%0.0%$25,001-$50,000 12.3%9.8%6.7%4.1%0.8%2.2%0.0%$1-$25,000 27.1%30.8%29.2%41.9%26.8%19.6%0.0%$0 53.9%56.3%60.7%52.8%70.7%78.3%100.0%

0.0%20.0%40.0%60.0%80.0%

100.0%120.0%

% o

f Res

pond

ents

Graduation Year

Distribution of AVMA Respondents Pre-Veterinary Educational Debt by Graduation Year

Page 202 of 577



53.5 percent of Equine respondents and 62.5 percent of AVMA respondents reported that they

currently owe payments on their veterinary educational debt. Recent graduates may have a

grace period in which they do not have to make payments. This grace period is usually six

months, but borrowers may start paying off loans as soon as they graduate. The longer a

respondent has been out of veterinary school the longer they have been paying off their

educational debt. As the individual pays off debt, the loan balance decreases until it is

eventually retired. On average, Equine respondents have been actively repaying their student

loan debt for five years. AVMA respondents on average have been repaying for six years. The

respondents who have already paid off their debt took, on average, 7.6 years to do so (AVMA:

7.2 percent).

Figure 57 presents the percentage of annual compensation used to service respondents’ debt.

In the Equine sample, 74.6 percent reported 0 percent-20 percent of their paycheck goes to

servicing their debt compared to 98.6 percent of the AVMA sample. Among the Equine

respondents, 25.4 percent reported that they apply more than 21 percent of their annual

compensation to service their debt compared to 1.4 percent of AVMA respondents. More than

10 percent of Equine respondents reported that in excess of 30 percent of their compensation

is used to service their education debt.

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Figure 57: Distribution of Equine and AVMA Respondents’ Gross Annual Compensation that Debt Repayment Requires

On average, female Equine respondents reported that they use 18.2 percent of their annual

compensation to service their student debt, while males reported they use an average of 14.1

percent (AVMA females: 15.8 percent; AVMA males: 14.9 percent). Table 28 illustrates the

effect of graduation year. Equine respondents who graduated within the past 10 years

reported a mean of nearly 20 percent of their annual compensation going toward educational

loan repayment (AVMA: approximately 18 percent). Respondents who graduated prior to 2006

reported they spent on average 10 percent or less on debt repayment.

4.3%

20.0%26.8% 23.5%

12.2% 13.2%

0% 1 - 5% 6 - 10% 11 - 20% 21 - 30% 30% or more

% o

f Res

pond

ents

% of Compensation

Distribution of Equine and AVMA Respondents’ Gross Annual Compensation that Debt Repayment Requires


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Table 28: Percentage of Equine and AVMA Respondents’ Annual Compensation Used to Service Student Loan Debt by Graduation Year22

Equine - Graduation Year Obs. Mean Std. Dev. Min Max

2012-2016 167 19.97 20.55 0 100 2007-2011 113 20.15 18.22 0.5 100 1997-2006 73 9.56 12.09 0 89 1987-1996 11 4.16 3.15 0 10

AVMA - Graduation Year Obs. Mean Std. Dev. Min Max

2012-2016 425 18.53 16.76 0 90 2007-2011 318 17.60 15.21 0 90 1997-2006 320 9.68 10.77 0 89 1987-1996 16 8.15 7.40 0.2 23

3.7.2 Difference in Student Debt for Selected Characteristics

Differences in mean debt at graduation from veterinary school by number of years since DVM

graduation, level of education, internship and residency participation, board certificate, gender,

type of employment, location, practice ownership, type of community, equine sector, and size

of community are reported. Means, medians, standard deviation and debt by quartile for each

variable were calculated first. Then a significance test was used to determine if the relationship

between debt and each factor is statistically significant. A significance test with a p-value <.01

means there is 99 percent confidence that there exists a relationship between the response and

the factor, while a p-value between >.01 and <.05 means there is 95 percent confidence that

there exists a relationship between the response and the factor, and a p-value between >.05

and <.10 means there is a 90 percent confidence that there exists a relationship between the

response and the factor. A p-value greater than .10 is not significant.

22 AVMA graduation year category 1977-1986 was omitted because the number of observations did not permit estimation.

Page 205 of 577



3.7.2.1 Educational Debt by Number of Years since DVM Graduation

Educational debt reported by Equine and AVMA respondents doubled over the past two

decades. The average debt among Equine respondents who graduated more than 50 years ago

was $6,938. In contrast, average debt was $125,374 for Equine respondents who graduated 6-

10 years ago, and $168,710 for those who graduated within the last five years (Table 29).

Analysis shows that the difference in mean student debt between Equine respondents of

different graduation years is statistically significant (p-value < 0.001). The difference in mean

student debt in AVMA respondents is statistically significant as well (p-value < 0.001).

Table 29: Mean Student Debt with Respect to the Number of Years since Graduation

Equine Obs. Mean Std. Dev 1st Quartile Median 3rd Quartile

0-5 years 197 $168,710 $85,856 $110,000 $158,000 $215,000 6-10 years 152 $125,374 $66,523 $79,000 $120,000 $162,500 11-20 years 128 $79,426 $44,740 $50,000 $75,000 $100,000 21-30 years 111 $42,879 $35,526 $22,000 $35,000 $56,000 31-40 years 94 $21,794 $17,531 $10,000 $20,000 $27,000 41-50 years 40 $13,743 $18,085 $4,000 $8,500 $11,000 51 or more years

8 $6,938 $6,026 $3,500 $5,000 $9,000

AVMA Obs. Mean Std. Dev 1st Quartile Median 3rd Quartile

0-5 years 509 $183,902 $119,257 $112,000 $167,000 $250,000 6-10 years 429 $143,735 $76,192 $100,000 $136,000 $180,000 11-20 years 503 $89,774 $52,159 $53,000 $80,000 $115,000 21-30 years 259 $37,731 $27,604 $17,000 $30,000 $49,000 31-40 years 116 $24,079 $31,308 $10,000 $19,000 $24,000 41-50 years 45 $15,367 $36,901 $3,500 $10,000 $13,500 51 or more years

16 $11,759 $26,650 $1,850 $5,000 $8,000

Page 206 of 577



3.7.2.2 Educational Debt by Level of Education

The difference in mean student debt by level of education in Equine respondents was

statistically significant with respect to the degree obtained in addition to the DVM degree (p-

value < 0.001). Equine respondents with a DVM degree alone accrued an average of $54,197 of

educational debt, while those respondents with an undergraduate degree in addition to a DVM

degree accrued $106,114; and those with a graduate degree had on average of $82,556 of debt

(Table 30). The difference in mean student debt between AVMA respondents was also

statistically significant (p-value < 0.001). On average, AVMA respondents had a higher mean

educational debt than Equine respondents, including those with a DVM degree only and those

with an additional degree.

Table 30: Mean Student Debt with Respect to Additional Degree


DVM 75 $54,197 $56,360 $11,000 $30,000 $80,000 DVM + Undergraduate Degree

510 $106,114 $84,884 $35,000 $85,500 $155,000

DVM + Graduate Degree 154 $82,556 $75,050 $20,000 $63,000 $120,000



1,336 $121,965 $89,915 $50,000 $105,000 $170,000

DVM + Graduate Degree

378 $96,631 $120,567 $25,000 $65,000 $136,000

Page 207 of 577



3.7.2.3 Educational Debt by Internship Participation

Equine respondents who completed an internship program reported an average student debt

higher than those who did not complete an internship. This difference is statistically significant

(p-value < 0.001). The difference in the AVMA respondents is also statistically significant (p-

value = 0.078). Equine respondents reported a higher difference of mean educational debt

between those who participated in internships and those who did not ($39,664) than did AVMA

respondents (mean debt difference of $8,915) (Table 31). Notably, Equine respondents who

participated in internships reported a mean educational debt of $109,865, a lower figure than

the mean reported by AVMA respondents without internship ($112,008).

Table 31: Mean Student Debt with Respect to Internship Participation


DVM 326 $70,201 $74,081 $16,000 $41,000 $110,000 DVM + Internship 437 $109,865 $84,484 $40,000 $96,000 $160,000


DVM 1,401 $112,008 $100,615 $40,000 $95,000 $153,000 DVM + Internship 497 $120,923 $85,804 $50,000 $100,000 $174,000

3.7.2.4 Educational Debt by Residency Participation

The difference in mean student debt for those Equine respondents pursuing residency

programs compared to those with only a DVM/VMD degree is statistically significant (P-value <

0.001). The difference in mean student debt within the AVMA respondents is also statistically

significant (P-value <0.001). For both samples, the mean student debt of respondents

participating in a residency is lower than for respondents not completing a residency (Table 32).

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Table 32: Mean Student Debt with Respect to Residency Participation


DVM 600 $100,215 $84,751 $30,000 $80,000 $149,500 DVM - Residency 139 $77,465 $66,733 $22,000 $60,000 $110,000

3.7.2.5 Educational Debt by Board Certificate

Among both the Equine and AVMA respondents who completed a residency, the difference in

mean student debt between those who achieved board certification versus those who did not

was statistically significant (P-value <0.001). Within both the Equine and AVMA samples the

mean student debt was lower for those who became board certified (Table 33).

Table 33: Mean Student Debt with Respect to Board Certificate


DVM 638 $98,467 $85,092 $27,000 $80,000 $145,000 DVM + Board certificate 125 $64,598 $60,722 $17,500 $45,000 $100,000


DVM 1,636 $119,897 $99,347 $45,750 $100,000 $165,000 DVM + Board certificate 262 $79,328 $71,927 $28,000 $55,500 $110,000


DVM 1,661 $118,797 $99,456 $45,000 $100,000 $165,000 DVM - Residency 238 $83,262 $70,573 $30,000 $60,250 $120,000

Page 209 of 577



3.7.2.6 Educational Debt by Gender

The difference in mean student debt between male and female Equine respondents was

statistically significant (P-value <0.001). The average student debt reported by female Equine

respondents was $117,036 versus $53,722 reported by males (Table 34). The difference in

mean educational debt between male and female AVMA respondents was also statistically

significant (P-value <0.001). While the debt means reported by Equine respondents fall below

those reported by the AVMA sample, the difference between male and female Equine

respondents’ debt is $63,314, while the difference between male and female AVMA

respondents’ debt is $37,091. It should be noted that the mean years of veterinary experience

of the male equine respondent cohort was 29 years (AVMA: 23 years) and the mean years of

veterinary experience of the female cohort was 12 years (AVMA: 11 years). Data on educational

debt by years since graduation can be found in Table 29.

Table 34: Mean Student Debt with Respect to Gender


Female 472 $117,036 $84,067 $55,000 $101,500 $170,000 Male 289 $53,722 $62,895 $10,000 $30,000 $70,000


Female 1,356 $124,807 $100,126 $50,000 $109,000 $170,000 Male 513 $87,716 $84,013 $22,000 $60,500 $125,000

Page 210 of 577



3.7.2.7 Educational Debt by Type of Employment

The difference in mean educational debt across veterinarians of different employment types

among both Equine and AVMA respondents was statistically significant (P-value <0.001). The

highest mean debt levels were reported by those respondents in advanced education (Equine:

$175,724; AVMA: $162,589) (Table 35).

Table 35: Mean Student Debt with Respect to Type of Employment23

Equine Obs. Mean Std. Dev. 1st Quartile Median 3rd Quartile

Equine Practice 387 $96,272 $78,949 $30,000 $77,000 $140,000 Mixed Animal Practice 76 $94,894 $76,187 $32,000 $96,500 $139,250 College/University 52 $55,154 $50,292 $16,000 $40,000 $92,500 Companion Animal Practice

35 $105,186 $94,697 $25,000 $85,000 $130,000

Advanced Education 29 $175,724 $97,420 $100,000 $155,000 $250,000 Food Animal Practice 13 $62,923 $55,756 $20,000 $38,000 $97,000 Other Veterinary Employment

6 $136,833 $60,572 $67,000 $152,000 $190,000

23 Industry/Commercial Organization and Not-for-profit in the Equine sample were omitted because the number of observations did not permit estimation.

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AVMA Obs. Mean Std. Dev. 1st Quartile Median 3rd Quartile

Companion Animal Practice

1,149 $124,546 $103,850 $50,000 $105,000 $170,000

College/University 122 $84,870 $68,376 $35,000 $68,500 $120,000 Mixed Animal Practice

95 $106,207 $73,248 $50,000 $105,000 $150,000

Equine Practice 65 $121,662 $88,677 $56,000 $96,000 $170,000 Industry/Commercial Organization

57 $85,221 $72,318 $39,000 $60,000 $120,000

Not-for-profit 56 $106,741 $97,310 $35,000 $80,000 $150,000 Federal Government 45 $97,870 $84,630 $30,000 $95,000 $140,000 Advanced Education 45 $162,589 $92,151 $95,000 $160,000 $206,000 Food Animal Practice 43 $111,477 $72,356 $48,000 $110,000 $160,000 State/Local Government

28 $88,636 $72,681 $35,000 $75,000 $115,500

Uniformed Services 10 $77,800 $36,660 $62,000 $77,500 $110,000 Non-Veterinary Employment

7 $92,286 $56,603 $32,000 $125,000 $141,000

Other Veterinary Employment

57 $109,258 $99,873 $20,000 $85,000 $170,000

3.7.2.8 Educational Debt by Work Region

The difference in mean educational debt reported by Equine respondents with respect to

region was not statistically significant (P-value = 0.173). The difference in mean student debt by

region reported by AVMA respondents was statistically significant (P-value = 0.001). Equine

respondents from Region 0 reported the highest average educational debt ($121,622). In

contrast, Equine respondents from Region 6 reported the smallest mean debt ($81,183) (Table

36). Region 0 was also the region with the highest average educational debt ($138,415)

reported by AVMA respondents, with respondents from Region 7 reporting the smallest

amount ($96,298).

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Table 36: Mean Student Debt with Respect to Work Region24


Region 0 49 $121,622 $91,798 $40,000 $109,000 $189,000 Region 1 59 $112,500 $101,062 $35,000 $70,000 $179,000 Region 2 63 $92,195 $77,151 $25,000 $85,000 $130,000 Region 3 78 $117,628 $99,591 $32,000 $90,000 $182,000 Region 4 65 $87,948 $79,089 $22,000 $60,000 $150,000 Region 5 47 $93,617 $76,421 $30,000 $80,000 $139,000 Region 6 47 $81,183 $76,138 $25,000 $60,000 $120,000 Region 7 63 $99,382 $68,524 $50,000 $100,000 $140,000 Region 8 72 $98,514 $80,835 $35,000 $73,250 $141,000 Region 9 88 $96,924 $74,876 $30,000 $85,000 $140,000



3.7.2.9 Educational Debt by Practice Ownership

The difference in mean educational debt reported by Equine and AVMA respondents with

relation to practice ownership and years from graduation was statistically significant (p-value

24 Map of U.S. Regions, Figure 16.

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<0.001) (Table 37). Practice owners tended to have slightly higher debt levels than non-practice

owners when grouped by graduation year.

Table 37: Mean Student Debt with Respect to Practice Ownership by Years from Graduation 25

Equine - Practice Owner

Obs. Mean Std. Dev. 1st Quartile Median 3rd Quartile

0-5 years 4 $178,750 $81,549 $119,500 $167,500 $238,000 6-10 years 37 $129,481 $63,525 $96,000 $120,000 $165,000 11-20 years 52 $81,356 $48,792 $53,000 $77,500 $95,500 21-30 years 61 $40,980 $38,830 $20,500 $35,000 $51,000 31-40 years 43 $24,035 $14,829 $13,000 $20,000 $30,000 41-50 years 16 $15,606 $17,449 $5,000 $9,500 $16,500

Equine - Non-Practice Owner


0-5 years 86 $164,911 $85,647 $110,000 $149,500 $205,000 6-10 years 78 $125,987 $67,663 $78,000 $127,000 $170,000 11-20 years 35 $76,299 $36,702 $50,000 $70,000 $105,000 21-30 years 13 $44,431 $24,746 $28,000 $40,000 $47,000 31-40 years 7 $22,229 $26,822 $5,000 $15,000 $25,000

AVMA -Practice Owner



25 Equine non-practice owners with 41-50 years and 51 or more years post-graduation and AVMA practice owners who graduated 51 or more years ago were omitted because the number of observations did not permit estimation.

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AVMA - Non-Practice Owner



3.7.2.10 Educational Debt by Type of Community

The difference in mean educational debt reported by respondents with respect to the type of

community (or environment) in which a respondent lives was statistically significant in the

Equine sample (P-value =0.069) and statistically significant (P-value =0.001) in the AVMA

sample (Table 38).

Table 38: Mean Student Debt with Respect to Type of Community


Rural 387 $86,550 $79,621 $22,000 $65,000 $126,500 Urban 70 $101,649 $84,731 $27,300 $90,000 $156,000 Suburban 301 $100,105 $85,357 $26,000 $80,000 $150,000


Rural 529 $101,226 $88,160 $30,000 $85,000 $149,000 Urban 325 $125,579 $95,663 $45,000 $105,000 $185,000 Suburban 1,010 $118,065 $102,031 $45,000 $100,000 $161,000

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3.7.2.11 Educational Debt by Type of Equine Sector

The difference in mean educational debt reported by AAEP respondents working in disparate

equine sectors was not statistically significant (P-value =0.782). AAEP respondents in the

Western Performance sector disclosed the highest student debt, $115,692, followed by

respondents in the equine companion sector ($110,333) (Table 39).

Table 39: Mean Student Debt with Respect to Primary Equine Sector26

AAEP Obs. Mean Std. Dev. 1st Quartile Median 3rd Quartile

General equine practice 249 $89,166 $75,527 $25,000 $70,000 $135,000 English performance 59 $85,525 $82,958 $35,000 $60,000 $109,000 Reproductive 21 $68,257 $77,792 $25,000 $32,600 $95,000 Racing - Thoroughbred 20 $87,975 $66,065 $28,500 $65,000 $142,000 Equine companion 18 $110,333 $93,194 $17,000 $114,000 $160,000 Western performance 13 $115,692 $62,569 $91,000 $110,000 $143,000 Ranch or working 7 $80,429 $76,162 $18,000 $50,000 $140,000 Racing - Quarter Horse 5 $99,000 $57,271 $80,000 $120,000 $125,000 Racing - Standardbred 5 $79,000 $85,029 $25,000 $30,000 $150,000

3.7.2.12 Educational Debt by Size of Community

The difference in mean educational debt reported by Equine respondents relative to the size of

the respondent’s community was not statistically significant

(P-value = 0.524), nor was it among AVMA respondents (P-value = 0.709). Respondents in the

Equine sample whose primary practice was based in a community of 500,000 or more residents

had the lowest average student debt ($81,947). Respondents in the AVMA sample with the

lowest reported average student debt were those whose practice is in a community of fewer

than 2,500 residents ($110,498) (Table 40).

26 Gaited breeds was omitted because the number of observations did not permit estimation.

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Table 40: Mean Student Debt with Respect to Size of Community


Less than 2,500 residents

35 $93,186 $72,515 $35,000 $80,000 $140,000

2,500 to 49,999 residents

195 $98,028 $87,972 $25,000 $76,000 $140,000


158 $89,789 $70,647 $35,000 $72,000 $137,000

500,000 or more residents

62 $81,947 $72,981 $25,000 $60,000 $117,000


Less than 2,500 residents

69 $110,498 $79,725 $48,000 $100,000 $160,000


533 $124,438 $115,102 $48,000 $110,000 $170,000


510 $121,493 $88,112 $50,000 $100,000 $167,000

500,000 or more residents

265 $124,987 $96,213 $46,000 $108,000 $179,000

3.7.3 Factors Affecting Veterinary Educational Student Debt upon Graduation


the variation in veterinary educational student debt at graduation, a multiple linear regression

was used to determine the surveyed factors significant in explaining the variation. Variables

significant at the 10, 5 and 1 percent level are reported in explaining the factors affecting

student debt. The main factors under observation were age, graduation year, gender, and the

region in which the school is located.

The coefficient in Table 41 indicates the dollar value impact of the corresponding variable on

student debt. Starting with a constant of $ 146,527.90, for instance, the value of coefficients

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(multiplied by the value of the factor) is added. That is, a new equine veterinarian respondent

who went to school in Region 2 would have had estimated student debt of $101,204.73

($146,527.90 minus $45,323.17).


as p-values, are such that for a “Sig.” less than 0.10, the coefficient is statistically different from

“0.” For new equine veterinarian respondents who went to school in Region 4, for example, the

p-value is 0.03; this means it is statistically significantly different from the baseline, Region 327.

The following factors were statistically significant in explaining the variation in veterinary

educational student debt of new equine veterinarian respondents at the time of graduation, at

the 10 percent level of significance or less: graduation year, and attended school in Region 2,

Region 4, Region 5, Region 7 and Region 9.

The following factors were statistically significant in explaining the variation in veterinary

educational student debt of all new veterinarian respondents at the 10 percent level of

significance or less: age, graduation year and attended school in Region 0, Region 2, Region 4,

Region 5, Region 6, Region 7, Region 8 and Region 9.

The coefficient for graduation year indicates that the average volume of veterinary educational

student debt declines with year of graduation by $4,828; in other words, respondents pay back,

on average, $4,828 of debt each year. The coefficent for attending a school in Region 7, -

$19,359, indicates that, on average, new equine veterinarian respondents who attended a

veterinary school in Region 7 have $19,359 less debt than respondents who attended school in

Region 3, the baseline variable. New veterinarian respondents in Region 7 on average had

$52,928 less debt than AVMA respondents in Region 3.

27 Baseline variables are used for comparison to avoid statistical errors.

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new equine veterinarian sample and .3553 in the new veterinarian sample. This indicates that

the inclusion of all these factors was able to explain 46 percent and 36 percent of the variation

between the individually reported student debt and the estimated mean student debt. Thus,

there are important variables that determine starting salaries that have not been included, and

are due to other unobservable factors.

Table 41: Factors Affecting Educational Student Debt upon Graduation

New Equine Veterinarian Coefficient Std. Err. Sig.

Age 896.65 620.33 0.15 Graduation Year -4827.66 643.03 0.00*** Gender (Female=1) 3582.86 5638.79 0.53 Region of School 0 -7328.35 9833.71 0.46 Region of School 1 15670.46 11381.33 0.17 Region of School 2 -45323.17 10904.35 0.00*** Region of School 3 (baseline) Omitted Region of School 4 -19009.57 8476.01 0.03** Region of School 5 -20212.50 8845.80 0.02** Region of School 6 -12451.12 8297.49 0.13 Region of School 7 -19359.00 9183.31 0.04** Region of School 8 -14734.16 9312.46 0.11 Region of School 9 -15293.01 7952.82 0.06* Constant 146527.90 18311.14 0.00***

Observations 726

Adjusted R-Square

0.4545


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New Veterinarian Coefficient Std. Err. Sig.

Age 1966.88 497.74 0.00*** Graduation Year -6630.5 511.99 0.00*** Gender (Female=1) 337.48 4310.24 0.94 Region of School 0 -25521.5 7999.53 0.00*** Region of School 1 -6086.77 9546.03 0.52 Region of School 2 -58648.8 8239.49 0.00*** Region of School 3 (baseline) Omitted Region of School 4 -27607.3 6333.52 0.00*** Region of School 5 -33258.6 6545.04 0.00*** Region of School 6 -31720.1 6599.29 0.00*** Region of School 7 -52928.1 7317.62 0.00*** Region of School 8 -17656.7 10361.27 0.09* Region of School 9 -20986.7 6760.04 0.00*** Constant 143236.9 15137.07 0.00***

Observations 1,840



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3.8 EXPECTATIONS BEFORE ENTERING PROFESSION

Respondents were asked how they felt about their work experiences based on their

expectations before they started working, and then asked about their satisfaction since

entering the veterinary profession. The questions pertained to the aspects of the veterinary

field in which they are employed, career development opportunities, relationship with

management, compensation and benefits, and the work environment.

A person with experience is defined as having had exposure to or involvement with a certain

event or subject. Satisfaction level reveals how a respondent feels about certain aspects of the

event or subject, and measures the individual’s perception of their experiences. Each queried

competency was ranked as to how well the average experience met expectations and the level

of satisfaction with the actual experience after the respondent had entered the veterinary

profession (Table 42).

Across both the Equine and AVMA samples respondents reported that their actual experiences

with opportunities to network were on average the same as they had expected prior to

entering the job market. The Equine respondents also reported that their expectations of

career development opportunities and management recognition of employee job performance

were met, and that their health care or medical benefits, feeling physically and psychologically

safe in the work environment, and the overall culture of the workplace on average exceeded

their expectations. AVMA respondents reported that their expectations of communication

between associates and owners, and of opportunities for variable pay were met, and that

career development opportunities, management recognition of employee job performance,

health care or medical benefits, feeling physically safe in the work environment, and the overall

culture of the work place exceeded their average expectations.

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Factors that were reported to be experienced at a lower level than expected by Equine

respondents included opportunities for variable pay and communication between associates

and owners. When comparing how experiences met expectations with the satisfaction with

experiences since working, the mean scores did not change much.

Table 42: Competency Scores by College Preparedness

Equine College Preparedness

Professional Satisfaction

N Mean Std. Dev.

N Mean Std. Dev. Career development opportunities for learning and professional growth

260 3.3 1.1

253 3.3 1.0

Opportunities to network with others to help in advancing one's career

260 3.2 1.1

253 3.2 1.0

Communication between associates and owners

259 2.9 1.2

259 2.8 1.2

Management recognition of employee job performance

260 2.6 1.1

259 2.6 1.0

Opportunities for variable pay 259 2.8 1.0

255 2.7 1.0 Health care or medical benefits 257 2.8 1.1

257 2.9 1.1

Feeling physically safe in the work environment

258 3.2 0.7

256 3.6 0.8

Feeling psychologically safe in the work environment

211 3.0 0.9

209 3.3 1.0

Overall culture of work place 258 3.1 1.1

255 3.2 1.1

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AVMA College Preparedness

Professional Satisfaction

N Mean Std. Dev.

N Mean Std. Dev. Career development opportunities for learning and professional growth

1,797 3.2 1.1

1,780 3.3 1.0

Opportunities to network with others to help in advancing one's career

1,796 3.2 1.0

1,778 3.2 1.0

Communication between associates and owners

1,774 2.9 1.1

1,773 2.9 1.0

Management recognition of employee job performance

1,773 2.6 1.1

1,772 2.7 1.0

Opportunities for variable pay 1,758 2.8 1.1

1,751 2.8 1.1 Health care or medical benefits 1,753 2.9 1.1

1,752 3.0 1.1

Feeling physically safe in the work environment

1,754 3.3 0.8

1,748 3.8 0.9

Overall culture of workplace 1,749 3.0 1.0

1,741 3.2 1.1

Note: 1=much worse than expected, 2=somewhat worse than expected, 3=the same as you

expected, 4=somewhat better than expected, 5=much better than expected

*The 2016 AVMA Census of Veterinarians did not ask respondents if they felt psychologically

safe in the work environment.

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3.9 KEY PERFORMANCE INDICATOR: DEBT-TO-INCOME RATIO (DIR) OF NEW VETERINARIANS

The debt-to-income ratio is an important measure of the economic performance of the market

for veterinary education. The DIR connects the market for education and the market for new

veterinarians. By definition, the DIR measures what percentage of debt is covered by annual

income. Although some economists suggest that a DIR of 1:1 may be the limit that should be

considered to guarantee personal financial sustainability, this best applies to non-professional

undergraduate degrees. Because the increases in income associated with experience are much

greater for those with professional degrees, especially graduate professional degrees, the level

of debt-to-income that can be serviced in professional fields without posing serious financial

stress is likely closer to 1.4:1.

The weighted (by gender) average28 DIR of new veterinarians who work full time in equine

medicine was 2.48 (median was 2.10) in the years 2000-2016. The weighted average DIR of all

new veterinarians working full time in the years 2000-2016 was 1.71 (median was 1.62)

(Table 43).

Table 43: Distribution of Weighted New Veterinarian Debt-to-Income Ratio29

Obs. Mean Std. Dev 1st Quartile Median 3rd Quartile

AVMA Equine 708 2.48 2.04 1.25 2.10 3.33 AVMA 15,049 1.71 1.25 .97 1.62 2.27

The average DIR of new veterinarians by graduation year is shown in Figure 58. In both samples,

the longer a respondent has been out of veterinary school the smaller the DIR he or she had.

28 A weighted average “refers to the mathematical practice of adjusting the components of an average to reflect the importance of certain characteristics.” Source: Merriam-Webster Dictionary https://www.merriam-webster.com/dictionary/weighted%20average 29 Source: AVMA Senior Survey, 2000-2016

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Figure 58: Mean Debt-to-Income Ratio of New AVMA Equine Veterinarians and All New AVMA Veterinarians by Graduation Year30


0.00

1.00

2.00

3.00

4.00

Debt

to In

com

e Ra

tio

Graduation Year

Mean Debt-to-Income Ratio of New AVMA Equine Veterinarians by Graduation Year

Male (unweighted DIR) Female (unweighted DIR)

Gender Weighted (DIR)

0.000.501.001.502.002.50

Debt

To

Inco

me

Ratio

Graduation Year

Mean Debt-to-Income Ratio of All New AVMA Veterinarians by Graduation Year

Male (unweighted DIR) Female (unweighted DIR)

Gender Weighted (DIR)

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3.9.1 Factors Affecting Debt-to-Income Ratio


the variation in the DIR, a multiple regression was used to investigate the surveyed factors

affecting the variation in the DIR for new veterinarians, both who are working full time in

equine medicine, and those who are working full time in veterinary medicine (both in a private

and public setting), including a starting annual income between $20,000 and $200,000. A

multiple regression assesses the relationship between the dependent variable and multiple

independent variables (explanatory variables).

The multiple regression was used to understand DIR as a function of graduation year, age,

gender, anticipated hours worked per week, additional degrees held, type of employment

(AVMA model), and veterinary school attended.

The coefficient in Table 44 indicates the impact of the corresponding variable on the DIR of new

veterinarians. New equine veterinarians who obtained a master’s degree along with their DVM

degree, for example, have a -.66 lower mean DIR than respondents with a bachelor’s degree

and a DVM degree.

The column labelled “Sig.” represents the significant variables. These variables, also known as

p-values, are such that for a “sig” less than 0.10, the coefficient is statistically different from

“0.” For instance, for new equine veterinarians who attended the University of Minnesota for

veterinary school, the p-value is 0.016; this means that statistically, it is significantly different

from the baseline, The Ohio State University.


factors were omitted from the model: The Ohio State University, bachelor’s degree, and

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working in an exclusive companion practice (AVMA model). Results from the regressions are

presented in Table 44.

The following factors were statistically significant in explaining the variation in the DIR of new

equine veterinarians, at a 10 percent level of significance or less: year of graduation, age,

gender, anticipated number work hours per week, obtained a master’s degree, and attended

Louisiana State University, Tufts University, University of Minnesota, Texas A&M, University of

Tennessee, North Carolina State University, or Western University of Health Sciences.

Some significant findings in the national DIR for new veterinarians include an average increase

in the DIR for graduation year, age, and anticipated work hours per week, as well as

respondents working in a predominantly companion animal practice, equine practice, state or

local government, college/university, or not-for-profit compared to respondents in an exclusive

companion animal practice. For respondents in food animal practices, uniformed services, and

industry/commercial organizations the DIR decreases on average compared to respondents in

an exclusive companion animal practice. In addition, the DIR, on average, decreases for

respondents who obtained a doctorate degree, male, and were admitted before degree was

completed.


new equine veterinarian model and .1876 in the new veterinarian model. This indicates that the

inclusion of all these factors was able to explain 15 percent and 19 percent of the variation

between the individually reported DIR and the estimated mean DIR. Thus, there are important

variables that affect the DIR that have not been included, and are due to other unobservable

factors.

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Table 44: Factors Affecting Debt-to-Income Ratio

New Equine Veterinarian Coefficient Std. Error Sig.

Graduation Year 0.114 0.018 0.00*** Age 0.092 0.022 0.00*** Gender (Female=0) -0.386 0.175 0.03** Anticipated work hours per week 0.015 0.005 0.01*** Admitted before degree was completed -0.204 0.228 0.37 Bachelor’s (baseline) Omitted Master’s -0.660 0.307 0.03** Ph.D. 0.369 1.111 0.74 Other professional degree -0.608 0.882 0.49 Other degree 0.252 0.694 0.72 The Ohio State University (baseline) Omitted Auburn University -0.220 0.459 0.63 Tuskegee University 0.405 0.684 0.55 University of California-Davis -0.400 0.404 0.32 Colorado State University -0.286 0.371 0.44 University of Florida -0.627 0.491 0.20 University of Georgia -0.517 0.472 0.27 University of Illinois -0.524 0.484 0.28 Iowa State University 0.397 0.557 0.48 Kansas State University 0.289 0.446 0.52 Louisiana State University -0.852 0.512 0.10* Tufts University 0.957 0.484 0.05** Michigan State University 0.411 0.459 0.37 University of Minnesota 1.238 0.512 0.02** Mississippi State University -0.089 0.494 0.86 Purdue University -0.869 0.573 0.13 Cornell University 0.447 0.486 0.36 Oklahoma State University 0.305 0.411 0.46 University of Pennsylvania 0.141 0.523 0.79 Texas A&M University -0.771 0.374 0.04** Washington State University -0.508 0.512 0.32 University of Missouri-Columbia 0.338 0.839 0.69 Oregon State University -0.083 0.890 0.93 University of Tennessee -1.349 0.592 0.02** Virginia-Maryland College 0.067 0.384 0.86

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North Carolina State University -1.031 0.470 0.03** University of Wisconsin 0.634 0.500 0.21 Western University of Health Sciences 1.571 0.774 0.04** Constant -1.525 0.751 0.04**

Observations 688


New Veterinarian Coefficient Std. Error Sig.

Graduation Year 0.057 0.002 0.00*** Age 0.025 0.003 0.00*** Gender (Female=0) -0.168 0.022 0.00*** Anticipated work hours per week 0.013 0.001 0.00*** Admitted before degree was completed -0.206 0.029 0.00*** Bachelor’s (baseline) Omitted Master’s -0.019 0.039 0.63 Ph.D. -0.231 0.130 0.08* Other professional degree -0.268 0.173 0.12 Other degree 0.154 0.125 0.22 Food Animal (exclusive) -0.237 0.053 0.00*** Food Animal (predominate) -0.142 0.049 0.00*** Mixed Animal 0.016 0.028 0.56 Companion Animal (exclusive) (baseline) Omitted Companion Animal (predominant) 0.054 0.028 0.06* Equine 0.695 0.048 0.00*** State/Local Government 0.504 0.266 0.06* Federal Government -0.091 0.122 0.46 Uniformed Services -0.686 0.059 0.00*** College/University 1.427 0.132 0.00*** Industry/Commercial -0.267 0.155 0.09* Non-for-profit 0.415 0.126 0.00*** The Ohio State University (baseline) Omitted Auburn University -0.434 0.057 0.00*** Tuskegee University 0.076 0.074 0.31 University of California-Davis -0.434 0.070 0.00*** Colorado State University -0.134 0.058 0.02**

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University of Florida -0.182 0.063 0.00*** University of Georgia -0.628 0.058 0.00*** University of Illinois -0.294 0.054 0.00*** Iowa State University -0.195 0.056 0.00*** Kansas State University -0.025 0.056 0.65 Louisiana State University -0.490 0.059 0.00*** Tufts University 0.292 0.071 0.00*** Michigan State University 0.058 0.058 0.32 University of Minnesota 0.401 0.060 0.00*** Mississippi State University -0.095 0.063 0.13 Purdue University -0.589 0.070 0.00*** Cornell University -0.310 0.062 0.00*** Oklahoma State University -0.355 0.059 0.00*** University of Pennsylvania 0.198 0.075 0.01*** Texas A&M University -0.746 0.050 0.00*** Washington State University -0.384 0.059 0.00*** University of Missouri-Columbia -0.273 0.060 0.00*** Oregon State University -0.203 0.083 0.02** University of Tennessee -0.323 0.064 0.00*** Virginia-Maryland College -0.296 0.056 0.00*** North Carolina State University -0.624 0.065 0.00*** University of Wisconsin -0.151 0.064 0.02** Western University of Health Sciences 1.381 0.089 0.00*** Constant 0.163 0.099 0.10

Observations 14,853


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SECTION 4: THE MARKET FOR VETERINARIANS





Equine - main sample (81 Equine respondents from AVMA + 975 AAEP)

1,056

The veterinary profession is one of the many horizontal labor markets that comprise the

national labor market. The market for veterinarians may be thought of as the market for

veterinary labor. The largest market for veterinarians is private practice (e.g., companion

animal, food animal, equine and mixed animal), comprising roughly three-quarters of all active

veterinarians. The remaining quarter of active veterinarians are in the markets of education,

research, industry, government, non-profit, and consulting.

This section provides summary statistics about Equine and AVMA respondents’ income and

benefits, as well as information on factors that may affect income. In addition, the key

performance indicator (KPI) for the market for veterinarians, net present value of the DVM

degree, is discussed. An analysis of employment, unemployment and underemployment of the

Equine and AVMA samples is provided, along with an illustration of the geographic distribution

of Equine respondents.

4.1 EQUINE VETERINARY PROFESSION INCOMES

This following subsection on income summary statistics are based on respondents who are

employed full time (unless otherwise stated), not participating in an internship, residency, or

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advanced education, and reported their annual income between $20,000 and $300,000 in 2015

($600,000 for AVMA respondents).


To identify the weighted31 mean income of respondents before taxes, factors significant in

explaining the variation in income, location and gender, were used. Weighting the Equine

respondents using the membership data on location and gender yielded a weighted income of

$106,290.04 compared to for the weighted AVMA mean income of $118,452.04.

Mean income for Equine respondents was $99,000 annually, $118,000 for practice owners and

$78,000 for associates compared to $112,000 for the mean income of AVMA respondents,

$159,000 for practice owners and $90,000 for associates (Figure 59).

Separating mean income by gender, in all comparisons the mean income of male respondents

exceeded female respondents. Female equine practice owner respondents had a mean $55,000

less than male owners ($85,000 female vs. $140,000 male). For the AVMA survey, male owner

respondents had a mean $66,000 more in income ($186,000) than their female counterparts

($120,000). A $24,000 difference between male and female Equine respondent associates, and

a $15,000 difference between male and female AVMA respondent associates were measured.

31 A weighted average “refers to the mathematical practice of adjusting the components of an average to reflect the importance of certain characteristics.” Source: Merriam-Webster Dictionary

Page 232 of 577



Figure 59: Distribution of Respondents’ Mean Income by DVMs

To control for hours worked, full-time vs. part-time employment was compared by gender

(Figure 60). Equine female respondents who worked full time earned a mean of $76,000, and

male full-time respondents, $129,000, for a difference of $53,000. The difference between

Equine male and female part-time respondents was $40,000, with the mean income of $99,000

for part-time males compared to $59,000 for females. Male part-time employees in the AVMA

sample had a mean annual income of $80,000, which was $19,000 less than male part-time

Equine respondents. Male part-time Equine respondents had a higher mean income than full-

time Equine female respondents. Equine female respondents working part-time schedules had

a mean income ($59,000) similar to the mean income of AVMA female respondents ($60,000).

102K

87K

186K

120K

90K

159K

112K

97K

73K

140K

85K

78K

118K

99K

$0 $50,000 $100,000 $150,000 $200,000

Male Associate

Female Associate

Male Owner

Female Owner

Associate

Owner

Overall

Mean Income ($)

Type

of D

VMDistrbution of Respondents' Mean Income by DVMs

Equine AVMA

Equine DVM Associates: n=248, 187 F/58 M; DVM Owners: 273, 109 F/162 MAVMA DVM Associates: n=923, 685 F/181 M; DVM Owners: 360, 164 M/182 M

Page 233 of 577



Figure 60: Distribution of Respondents’ Mean Income by Gender and Full-Time vs. Part-Time Employment

80K

60K

146K

96K

140K

90K

112K

99K

59K

129K

76K

128K

78K

99K

$0 $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 $140,000 $160,000

Male Part-Time

Female Part-Time

Male Full-Time

Female Full-Time

Male

Female

Overall

Mean Income

Empl

oym

ent

Stat

usDistribution of Respondents' Mean Income by Gender and Full-Time vs. Part-

Time Employment

Equine AVMA

Equine FT: n=521 (218 M/303 F); PT: n=23 (14 F/9 M)AVMA FT: n=1,764 (539 M/1,225 F); PT: n=185 (153 F/32 M)

Page 234 of 577



Mean income of the AAEP respondents also varies by size of practice, with those employed in

larger practices (by number of employees) earning more than those employed in smaller

practices (Figure 61). The number of employees used to determine practice size included all

veterinarians (both owners and associates) plus support staff.

Figure 61: Distribution of AAEP Mean Veterinary Income by Practice Size (Veterinarians and Support Staff)

$130,454.50

$115,915.10

$103,380.10

$96,668.57

$92,074.17

$92,201.16

$0 $50,000 $100,000 $150,000

50 or more staff members

20-49 staff members

10-19 staff members

5-9 staff members

2-4 staff members

One staff member

Mean Income ($)

Num

ber o

f Em

ploy

ees

Distribution of AAEP Mean Veterinary Income by Practice Size (Veterinarians and Support Staff) (n=447)

Page 235 of 577



4.1.2 Differences in Professional Income for Selected Characteristics

While the summary statistics describe differences in mean income by gender, ownership status,

employment status, and size of practice, the relationship between income and specific variables

are presented in this subsection. Means, medians, standard deviation and income by quartile

for each variable is presented first. Then a significance test is used to produce t-statistics for

each variable to determine if each factor is statistically significant in explaining the variation in

income between veterinarians.

A significance test with a p-value <.01 means there is 99 percent confidence that there exists a

relationship between the response and the factor, while a p-value between >.01 and <.05

means there is 95 percent confidence that there exists a relationship between the response

and the factor, and a p-value between >.05 and <.10 means there is 90 percent confidence that

there exists a relationship between the response and the factor. A p-value greater than .10 is

not significant. The data were cleaned of outlying observations. The values used in the

statistical analysis fall into the following categories: incomes above $20,000 and below

$300,000 for the Equine sample, incomes above $20,000 and below $600,000 for the AVMA

sample, those who worked more than 30 hours a week, those currently not in an internship or

residency, and/or those who are not enrolled in advanced education. Observations outside of

these ranges likely represent either input errors or are so far removed from the mean that they

are not representative of the population at large. While values outside of these ranges may be

of interest to some studies, they are not representative of the realities of a typical full-time

veterinarian and may represent undue upward or downward bias on the estimates. A

veterinarian working full time but making less than $20,000, for example, is most likely doing so

as a personal choice. He or she may easily enter the mainstream veterinary labor market and

earn a significantly higher salary.

Page 236 of 577



4.1.2.1 Number of Years since DVM Graduation

The analysis of the relationship between years since graduation and income uses seven

categories:

1) less than five years post-graduate,

2) 6 to 10 years,

3) 11 to 20 years,

4) 21 to 30 years,

5) 31 to 40 years,

6) 41 to 50 years,

7) more than 51 years.

All Equine and AVMA respondents’ mean income is highly significant (p-value <.001) with

regard to years since their DVM graduation. A Pearson’s Correlation coefficient was produced

for this characteristic to access the relationship of income with the increasing years out of

veterinary school. The correlation for Equine was .442 and .432 for AVMA respondents. These

two coefficients for both samples indicate a moderate positive relation between income and

graduation year. Equine respondents’ professional earnings increased with the number of years

of experience in veterinary medicine, with the exception of respondents who graduated more

than 51 years ago, who reported an average decrease in income, from $138,900 to $94,750. In

the AVMA sample, income continued to increase over time for these respondents (Table 45).

Page 237 of 577



Table 45: Mean Annual Income with Respect to the Number of Years since DVM Graduation


0-5 years 125 $56,875 $19,824 $43,000 $55,000 $70,000 6-10 years 151 $81,914 $34,689 $60,000 $75,000 $96,000 11-20 years 140 $107,547 $49,642 $75,000 $100,000 $125,000 21-30 years 121 $119,185 $62,487 $75,000 $105,000 $155,000 31-40 years 94 $132,055 $65,623 $80,000 $125,000 $162,000 41-50 years 33 $138,900 $72,121 $87,000 $125,000 $167,845 51 or more years 4 $94,750 $52,785 $58,500 $102,500 $131,000


0-5 years 465 $74,439 $22,570 $62,000 $72,000 $85,000 6-10 years 404 $95,749 $38,496 $72,000 $90,000 $111,000 11-20 years 467 $120,597 $69,952 $82,000 $102,000 $138,000 21-30 years 276 $142,472 $89,672 $84,750 $112,000 $181,500 31-40 years 117 $179,100 $114,648 $106,000 $140,000 $200,000 41-50 years 37 $172,471 $94,316 $100,000 $156,000 $227,000 51 or more years 6 $184,000 $214,798 $60,000 $100,000 $220,000

4.1.2.2 Level of Education

Respondents were classified into three categories with respect to degree or degrees obtained,

as explained in the following category definitions:

1) DVM, if the respondent did not obtain any degree or professional certificate in addition

to a DVM

2) DVM + Undergraduate Degree, if the respondent completed a Bachelor’s degree

program prior to or after obtaining a DVM degree

Page 238 of 577



3) DVM + Graduate Degree, if the respondent completed a Doctoral degree (e.g., Doctor of

Philosopy, Doctor of Education), or a Master’s degree (Master of Science, Master of

Arts, Master of Business Administration, Master of Public Health, or any degree

equivalent to a Master’s degree), or other advanced degree.

Equine respondents having a DVM degree only, (that is, no additional degree) have higher

mean income than those who have an undergraduate or graduate degree. The difference

between mean earnings was statistically significant for Equine respondents, p-value <.001

(AVMA p-value <.001) (Table 46).

Table 46: Mean Annual Income with Respect to Additional Degree Graduation



460 $92,954 $54,702 $59,753 $78,000 $112,000




1,229 $105,626 $69,287 $70,000 $86,000 $115,000


Page 239 of 577



4.1.2.3 Internship Participation

The rate of internship participation was approximately 53 out of 100 Equine respondents

compared to 26 out of 100 veterinarians from among the AVMA respondents. The difference in

mean income of Equine respondents who participated in an internship and those who did not

was statistically significant (p-value = .011) and negative, indicating that those who have

participated in an internship have a lower mean salary than those respondents who did not

participate in an internship. The AVMA sample showed no statistical significance between

veterinarians who completed an internship and those who did not (p-value = .264) (Table 47).

Because veterinarians who have been practicing equine medicine longer may have not

participated in an internship, and are also the majority who are practice owners and earning

higher salaries, Figure 62 shows the distribution of mean income of respondents, by graduation

year, who participated in an internship and those who didn’t.

Table 47: Mean Annual Income with Respect to Internship Participation


DVM 317 $105,173 $61,600 $65,000 $85,000 $130,000 DVM + Internship 366 $94,234 $50,480 $60,000 $82,000 $119,000


DVM 1,327 $110,339 $70,164 $72,000 $90,000 $120,000 DVM + Internship 467 $114,649 $76,042 $71,000 $98,000 $135,000

Page 240 of 577



Figure 62: Distribution of Respondents' Mean Income and Internship Participation by Graduation Year

$-

$50,000

$100,000

$150,000

$200,000

Mea

n In

com

e

Graduation Year

Distribution of Respondents' Mean Income and Internship Participation by Graduation Year

Equine-Internship (n=281) Equine-No Internship (n=241)

AVMA-Internship (n=1,285) AVMA-No Internship (n=446)

Page 241 of 577



4.1.2.4 Residency Participation

A substantial majority of respondents (83.1 percent) who had participated in a residency

indicated that they had also participated in an internship. Because internship or several years

of clinical experience are required to be admitted to participate in a residency program, this

finding is unsurprising. The income of respondents who participated in a residency after

undertaking an internship differs significantly from respondents who did not participate in a

residency but participated in an internship, for both Equine and AVMA sample (p-value <.001).

There was a difference of nearly $30,000 more in income between Equine respondents with a

residency and those who did not complete a residency. AVMA respondents showed an average

difference of $53,000 between respondents who participated in a residency and respondents

who did not (Table 48).

Table 48: Mean Annual Income with Respect to Residency Participation


DVM 262 $84,090 $49,959 $54,000 $71,000 $100,000 DVM +Residency w/ Internship

123 $113,802 $47,502 $80,000 $110,000 $145,000


DVM 286 $93,105 $53,764 $63,250 $85,000 $110,000 DVM + Residency w/ Internship

180 $146,185 $85,985 $90,000 $125,000 $180,000

Page 242 of 577



4.1.2.5 Gender

The difference in income between genders (the gender wage gap) is well known and exists in

nearly all professions; including the veterinary profession (pharmacy is the only profession

without a pronounced gender wage gap). Some of the gender wage gap can be explained by

differences in hours worked, type of employment, location of employment, educational

background and employment preparation. But, even after all available factors are considered, a

gap remains in salaries between men and women.

Without controlling for other factors the mean income for new female veterinary graduates in

both the Equine and AVMA sample is approximately $50,000 less than the mean for their male

counterparts (Table 49). For both Equine and AVMA respondents the difference in mean

income between genders is large and statistically significant (Equine: p-value <.001; AVMA: p-

value <.001). It must be noted that the male Equine respondents had a mean of 23 years of

experience versus the female Equine respondents, who had a mean of 10 years of experience in

this sample.

Table 49: Mean Annual Income with Respect to Gender


Female 399 $79,128 $38,358 $55,000 $72,000 $98,000 Male 269 $129,695 $63,864 $80,000 $119,000 $165,000


Female 1,167 $95,619 $47,771 $70,000 $85,000 $108,750 Male 527 $145,678 $94,648 $80,000 $115,000 $185,000

Page 243 of 577



4.1.2.6 Type of Employment

Employment type was divided into the major public and private practice types and the variation

in income among these samples is statistically significant for both the Equine (p-value = 0.015)

and AVMA (p-value <.001) samples. The mean income of Equine respondents in equine

practice is $98,853 and $97,118 for equine practitioners in the AVMA sample (Table 50).

Table 50: Mean Annual Income with Respect to Type of Employment32


Equine Practice 448 $98,853 $59,057 $60,000 $82,000 $120,000 Mixed Animal Practice 80 $91,713 $53,859 $60,000 $75,000 $111,000 Companion Animal Practice 39 $98,051 $50,796 $70,000 $85,000 $114,000 Food Animal Practice 16 $81,451 $51,427 $37,000 $71,000 $106,712 College/University 80 $118,371 $39,323 $100,000 $114,500 $143,500 Other Veterinary Empl. 6 $46,167 $30,486 $24,000 $39,000 $55,000


Equine Practice 77 $97,118 $98,473 $50,000 $65,000 $100,000 Mixed Animal Practice 100 $88,677 $53,184 $62,000 $75,000 $94,500 Companion Animal Practice

1,154 $112,094 $73,923 $73,000 $90,000 $120,000

Food Animal Practice 44 $107,112 $88,713 $66,000 $81,000 $118,500 Uniformed Services 13 $93,138 $34,301 $75,000 $85,794 $102,000 College/University 154 $126,411 $63,297 $90,000 $110,000 $140,000 Federal Government 52 $108,055 $47,290 $73,757 $107,500 $134,426 Industry/Commercial Organization

67 $157,070 $55,532 $115,000 $150,000 $200,000

Not-for-profit 52 $90,593 $47,405 $64,500 $83,500 $104,500 Other Veterinary Employment

51 $107,335 $69,926 $69,000 $88,000 $120,000

State/Local government 28 $96,026 $24,274 $83,000 $96,000 $107,500 Non-Veterinary Empl. 3 $63,500 $21,148 $46,000 $57,500 $87,000

32 Federal government, Industry/Commercial Organization, and Not-for-profit were omitted in the Equine sample because the number of observations did not permit estimation.

Page 244 of 577



4.1.2.7 Geographic Location

For both the Equine and AVMA sample the variation in mean incomes was great between the

regions 0 to 9 (Table 51). The region with the highest mean professional income in the Equine

sample was Region 4 ($115,410). Kentucky is located in Region 4, and Lexington, Ky., is known

as the “Horse Capital of the World” because it is heavily populated with horses and large

Thoroughbred breeding operations. Region 5 had the lowest mean income at $83,640.

Comparatively, when examining the AVMA respondent incomes, the lowest mean income

occurred in Region 5 ($95,611) and the highest mean income was Region 1 ($124,761). For

both Equine and AVMA respondents the mean incomes were statistically significant with

respect to work region (Equine p-value = .022; AVMA p-value = .009).

Table 51: Mean Annual Income with Respect to Region



Page 245 of 577





Figure 63 displays the variation among annual income of respondents by U.S. region, as laid out

in Table 51.

Mean Annual Income of Equine Respondents by U.S. Region, 2016

Page 246 of 577



Mean Annual Income of AVMA Respondents by U.S. Region, 2016

Figure 63: Map of U.S. Regions with Respect to Mean Annual Income of Equine and AVMA Respondents

Page 247 of 577



4.1.2.8 Practice Ownership

Practice ownership had a statistically significant impact on professional income (p-value <.001)

among both the Equine and AVMA respondents. Mean annual income for practice owners and

for non-practice owners differed by $41,248 for Equine respondents and $67,623 for AVMA

respondents (Table 52).

Table 52: Mean Annual Income with Respect to Practice Ownership


Non-Practice Owner 258 $77,124 $35,337 $55,000 $70,000 $90,000 Practice Owner 264 $118,372 $68,622 $65,000 $100,000 $152,789


Non-Practice Owner 1,004 $91,495 $41,489 $70,000 $82,000 $103,500 Practice Owner 360 $159,118 $117,125 $75,000 $125,000 $200,000

4.1.2.9 Practice Ownership and Board Certified vs. Non-Board Certified

Board certification had a significant impact on professional income for Equine respondent

practice owners (p-value <.001) as well as associates (p-value = .003). This was also reflected in

the AVMA sample where board certification of both practice owners (p-value = .002) and

associates (p-value <.001) was found to have a significant impact on income compared to that

of non-board-certified owners and associates.

The difference in mean annual income for practice owners who are and who are not board

certified was $42,088 for the Equine respondents and $67,041 for the AVMA respondents

(Table 53). Mean income for Equine respondents who are board-certified associates was

$18,157 more than non-board-certified associates (AVMA income difference: $57,077).

Page 248 of 577



Table 53: Mean Annual Income with Respect to Board-Certified Practice Owners and Board-Certified Associates


Practice Owners

Board Certified 31 $154,960 $66,970 $112,000 $150,000 $197,000 Non-Board Certified

242 $112,872 $67,393 $65,000 $95,000 $150,000

Associates


212 $75,688 $33,193 $55,000 $70,000 $85,500


Practice Owners


329 $153,669 $113,635 $75,000 $120,000 $200,000

Associates


840 $85,162 $28,271 $68,600 $80,000 $99,250

Page 249 of 577



4.1.2.10 Primary Equine Sector

The mean income with respect to the primary equine sector that veterinarians serve was

statistically significant (p-value = .011). The highest mean income level was found in the racing

segment. The total percent of AAEP respondents in the racing segment (Standardbred,

Thoroughbred, and Quarter Horse) was 8 percent with a range of mean incomes of

approximately $131,000-$143,000. Respondents who are ranch or working horse veterinarians

on average had the lowest mean income at $82,629. Among respondents, over 60 percent

reported serving multiple sectors and this group had a mean income that was lower than the

average for all equine practitioners (Table 54).

Table 54: Mean Annual Income with Respect to Primary Equine Sector33

AAEP Obs. Mean Std. Dev. 1st Quartile Median 3rd Quartile

Racing - Standardbred 5 $143,200 $72,448 $85,000 $125,000 $180,000 Racing - Thoroughbred 24 $133,308 $71,940 $85,000 $113,500 $150,000 Racing - Quarter Horse 5 $131,400 $79,952 $82,000 $95,000 $175,000 English performance 66 $111,588 $66,645 $65,000 $95,500 $145,265 Western performance 14 $105,536 $57,414 $62,500 $103,000 $137,000 Reproductive 26 $105,359 $60,273 $70,000 $87,000 $110,000 General equine practice

271 $94,174 $54,207 $60,000 $79,433 $117,000

Equine companion 23 $83,599 $57,726 $52,000 $72,000 $100,000 Ranch or working 7 $82,629 $52,714 $45,000 $70,000 $106,403 Overall 441 $100,173 $59,156 $65,000 $84,000 $120,000


Page 250 of 577



4.1.3 Factors Affecting Income

Numerous factors explain the variation in income. Narrative in the previous section provides

the difference between specific (but not all) factors and income.

To explain the contribution of each factor to the variation in income, a multiple linear

regression was used. Variables that are significant at the 10 percent, 5 percent and 1 percent

levels were reported in explaining the factors affecting income. The main factors considered

were year of graduation, age, gender, hours worked, full-time employment (work 30 or more

hours), veterinary educational debt, board certified, intern and residency participation, home

ownership, living environment/community, work region, highest degree obtained, practice

ownership, community size in which respondents work, and compensation method. In addition,

equine-specific variables such as business model, equine sector, total number of unique horse

patients, practice type and practice size were used for the AAEP model, and type of

employment were used for the AVMA respondent model.

The coefficient in Table 55 indicates the dollar value impact of the corresponding variable on a

respondent’s annual income. For example, an AAEP respondent who is working full time earns

on average $40,911.60 more than respondents working part time, holding everything else

constant.

The last column in both the AAEP and AVMA tables, labelled “Sig. ,” represents the significant

variables. A significance, or “sig,” less than .10 indicates that there is less than a 10 percent

chance that there is no relationship between the factor and income. For AAEP respondents

who worked in Region 3, for example, the p-value is .06; this means that there exists a six

percent statistical probability that this factor has no impact on incomes and thus is significantly

different from the baseline, Region 9.

Page 251 of 577



To avoid statistical errors, baseline variables are used to compare against. The baseline

variables in the AAEP model are work in Region 9, owns a home, lives in a rural area, obtained a

bachelor’s degree, serves a community of 50,001 to 500,000 residents, private practice owned

by a single veterinarian, salary compensation method, practice size of 5 to 9 staff members,

works in an ambulatory practice, and works in the general equine industry. The baseline

variables in the AVMA model consist of work in Region 9, owns a home, lives in a rural area,

obtained a bachelor’s degree, serves a community of 50,001 to 500,000 residents, salary

compensation method, and companion animal practice.

The coefficient for gender, -$30,435.90, indicates that the mean income of AAEP respondents

who are female is $30,435.90 less than their male counterparts in this survey, holding all other

variables constant. AVMA respondents who are female earn on average $52,183.84 less annual

income than AVMA respondents who are male, holding all other variables constant.

AAEP respondents employed in the Thoroughbred racing industry have a mean income that is

$36,484.81 more than respondents working in the general equine industry. While not

significant but close to the 10 percent level is the finding that, holding all other variables

constant, respondents employed in the equine companion sector have a mean income that is

$22,912.34 more than respondents working in the general equine industry. AAEP respondents

who are compensated on production only on average have a mean income $30,594.29 more

than respondents compensated based on salary only. AAEP respondents who collect an owner

distribution with differentiation between pay for effort as a veterinarian and pay as an owner

have, on average, a mean income $37,615.92 more than respondents compensated by salary

only. AVMA respondents who are compensated with owner withdrawals have an average

mean income of $82,902.12 greater than AVMA respondents compensated by salary only, and

holding all other variables constant.

Page 252 of 577



The coefficient for AVMA respondents currently working in equine practice, -

$58,803.07, indicates that the mean income for veterinarians employed as equine practitioners

is $58,803.07 less than respondents in companion animal medicine, holding all other variables

constant.


AAEP sample model and .0691 in the AVMA sample model. This indicates that the inclusion of

all these factors were able to explain 41 percent and 7 percent of the variation between the

individually reported income and the estimated mean income. Thus, there are important

variables that determine incomes that have not been included, and are due to other

unobservable factors.

Table 55: Factors Affecting Income

AAEP34 Coefficient Std. Err. Sig.

Graduation Year 90.77 1055.30 0.93 Age 370.10 997.94 0.71 Gender (Female=1) -30435.90 7682.23 0.00*** Hours worked 31.89 127.51 0.80 Full-time (Yes=1) 40911.60 16997.21 0.02** DVM Debt -0.04 0.06 0.44 Board Certified (Yes=1) 22584.98 19179.37 0.24 Internship (Yes=1) -3153.58 7129.53 0.66 Residency (Yes=1) -10448.39 18229.14 0.57 Housing - own (baseline) Omitted Housing - rent -5255.21 8637.22 0.54 Housing - other -24935.51 21278.21 0.24 Rural (baseline) Omitted Urban 4910.63 11730.75 0.68 Suburban 11146.14 7329.15 0.13 Region 0 10036.85 14790.51 0.50

34 Corporate practice and gaited breeds were omitted because the number of observations did not permit estimation.

Page 253 of 577



Region 1 11616.52 13703.96 0.40 Region 2 12064.52 13604.80 0.38 Region 3 25048.10 13424.66 0.06* Region 4 2627.50 13659.23 0.85 Region 5 -1891.52 13594.19 0.89 Region 6 -4354.43 16094.68 0.79 Region 7 7792.55 14476.48 0.59 Region 8 -10652.48 12166.40 0.38 Region 9 (baseline) Omitted Bachelor’s (baseline) Omitted Ph.D. 75240.41 68140.27 0.27 Master’s 3072.92 11023.65 0.78 Specialty Degree -29346.44 38847.46 0.45 DVM only 15469.68 9606.29 0.11 Practice Owner (Yes=1) 21201.45 10313.27 0.04** Under 2,500 residents 2854.65 12562.93 0.82 2,501 to 10,000 residents -4672.44 10991.24 0.67 10,001 to 25,000 residents -587.31 10571.44 0.96 25,001 to 50,000 residents 4756.15 9901.57 0.63 50,001 to 500,000 residents (baseline) Omitted 501,000 or more residents 5456.62 9806.70 0.58 General equine (baseline) Omitted Ranch or working 13299.15 24128.33 0.58 English performance 1384.12 10764.99 0.90 Companion 22912.34 15466.17 0.14 Quarter Horse racing 31058.39 31091.84 0.32 Standardbred racing 24451.78 28560.69 0.39 Thoroughbred racing 36484.81 17628.53 0.04** Reproductive 8483.85 14528.55 0.56 Western performance 21735.53 16916.80 0.20 Unique Patients 7.87 3.12 0.01*** Ambulatory (baseline) Omitted Ambulatory with haul-in facility -9467.10 8013.65 0.24 Haul-in only 3842.62 27327.60 0.89 Specialty/referral - limited service hospital -21331.26 26616.08 0.42 Specialty/referral - full service hospital -29811.74 27531.41 0.28

Page 254 of 577



Specialty/referral - limited service hospital with ambulatory

-17032.53 24790.95 0.49

Specialty/referral - full service hospital with ambulatory -13495.30 11738.21 0.25 Other business model 16009.65 20984.46 0.45 Salary (baseline) Omitted Production only 30594.29 12842.34 0.02** Hourly or per diem 4423.03 22100.33 0.84 Salary with production-based incentive 11002.89 9664.25 0.26 Other method compensation 1974.39 18397.80 0.92 Salary without production-based incentive 11608.44 29345.64 0.69 Owner with no differentiation -9349.09 11464.91 0.42 Owner with differentiation 37615.92 13344.18 0.01*** Private practice owned by a single vet (baseline) Omitted Private corporate practice 8442.02 7685.89 0.27 One staff member -21833.72 11679.42 0.06* 2 to 4 staff members -24615.14 9833.70 0.01*** 5 to 9 staff members (baseline) Omitted 11 to 19 staff members 4732.35 9860.78 0.63 20 to 49 staff members 4923.70 13652.62 0.72 50 or more staff members -18609.37 25039.92 0.46 Constant 26629.59 38237.13 0.49

Observations 264

Adjusted R-Square

0.4121

***, **, and * indicate significance at the 1 percent (p < .01), 5 percent (p < .05) and 10 percent (p

< .10) levels, respectively

Page 255 of 577



AVMA Coefficient Std. Err. Sig.

Graduation Year 3904.77 2666.19 0.14 Age -1059.23 2490.53 0.67 Gender (Female=1) -52183.84 20089.46 0.01*** Hours worked 251.88 722.98 0.73 Full-time (Yes=1) 32951.23 35457.27 0.35 DVM Debt 0.12 0.10 0.21 Board Certified (Yes=1) 59609.45 57217.41 0.30 Internship (Yes=1) -6982.35 22572.25 0.76 Residency (Yes=1) 121462.60 60758.30 0.05** Housing - own (baseline) Omitted Housing - rent -3296.92 21152.44 0.88 Housing - other -4602.02 56089.05 0.94 Rural (baseline) Omitted Urban -17490.19 29569.68 0.55 Suburban 5044.26 21438.69 0.81 Region 0 112935.10 38282.34 0.00*** Region 1 -13506.55 34229.79 0.69 Region 2 795.71 32433.35 0.98 Region 3 -8266.28 32994.16 0.80 Region 4 -10117.26 34118.54 0.77 Region 5 -14266.99 36606.69 0.70 Region 6 -21597.46 35466.94 0.54 Region 7 -21834.91 34285.12 0.52 Region 8 -23618.95 35434.65 0.51 Region 9 (baseline) Omitted Bachelor’s (baseline) Omitted Ph.D. 17975.67 43074.74 0.68 Master’s -25204.46 27268.15 0.36 Specialty Degree -211704.90 211545.50 0.32 DVM only -31204.51 31648.56 0.32 Practice Owner (Yes=1) 39787.38 28514.62 0.16 Under 2,500 residents -43517.98 43980.66 0.32 2,500 to 49,999 residents -11914.04 20381.15 0.56 50,000 to 499,999 residents (baseline) Omitted 500,000 or more residents 49251.33 24490.39 0.05** Salary (baseline) Omitted

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Hourly or per diem -4395.37 34163.46 0.90 Production only 24461.16 31531.01 0.44 Mix of salary with opportunity for production-based compensation

7843.65 20628.79 0.70

Owner withdrawals 82902.12 33514.08 0.01*** Companion Animal (baseline) Omitted Food Animal 52660.19 56716.36 0.35 Equine -58803.07 41664.49 0.16 Mixed Animal 199.08 35802.85 1.00 Federal Government 18956.72 99081.73 0.85 Uniformed Services -14359.85 291242.80 0.96 College/University -2559.73 82345.58 0.98 State/Local Government -9314.52 119980.30 0.94 Industry/Commercial -9957.52 97848.96 0.92 Not-for-profit -3034.22 88477.95 0.97 Other veterinary employment -59782.30 55667.82 0.28 Non-veterinary employment -76808.19 146648.40 0.60 Constant 64776.28 88448.99 0.46

Observations 1,261

Adjusted R-Square

0.0691

Note: ***, **, and * indicate significance at the 1 percent (p < .01), 5 percent (p < .05) and 10

percent (p < .10) levels, respectively

Page 257 of 577



4.2 FRINGE BENEFITS RECEIVED

Equine respondents were asked to indicate the benefits that they received from their employer

(Table 56). A higher percentage of respondents from the AVMA sample (63.7 percent) reported

receiving medical benefits versus the Equine respondents (52.8 percent). Employers in both

samples offered respondents benefits that are primarily paid directly (e.g., veterinary licensure,

continuing education expenses, discounted veterinary care, professional association dues). Also

among Equine respondents, 6.7 percent were given paid maternity leave and 2.1 percent paid

paternity leave.

Table 56: Fringe Benefits Received

Benefit Equine (n=816) AVMA (n=2,545)

Continuing education expenses 84.1% 72.4% Licenses 77.9% 69.0%

Liability insurance 76.8% 50.5%

Association dues 75.7% 65.2%

Continuing education leave 64.1% 56.3%

Discounted veterinary care for personally-owned animals

61.3% 63.1%

Medical/ hospitalization plan 52.8% 63.7%

Paid vacation leave 51.4% 63.4%

Employer contribution/match to a tax-deferred retirement plan (i.e. 401(k), SIMPLE IRA, etc.)

44.9% 45.6%

Disability insurance 40.4% 35.5%

Personal use of practice-owned vehicle 38.7% 12.5% Paid legal holidays 35.8% 44.7%

Paid sick leave 33.6% 43.6%

Uniform/clothing allowance 31.5% NA

Tax-deferred retirement plan (i.e. 401(k), IRS- qualified profit-sharing plan)

29.9% 45.1%

Life insurance 28.8% 34.4% Dental plan 26.0% 39.4%

Page 258 of 577



Reimbursed mileage for practice use of personal vehicle

14.6% NA

Paid maternity leave 6.7% NA

No benefits provided/purchased 5.6% 8.0% Other (Specify) 3.6% 4.2%

Informal profit-sharing plan (not tax-deferred) 3.4% 3.1%

Paid paternity leave 2.1% NA

Table 57 compares the fringe benefits received by male and female Equine respondents. In a

gender comparison, males reported a higher percentage of benefits. Women, however,

reported a higher percentage of discounted veterinary care, paid vacation leave, reimbursed

gas mileage, maternity leave, and other types of (unidentified) benefit. The benefit that was

reported being received by the largest percentage of both male and female respondents was

continuing education expenses, and the rarest benefit reported was paid maternity and

paternity leave.

Table 57: Fringe Benefits Received with Respect to Gender, Excluding True Solo Practitioners

Equine Male (n=324) Female (n=483)

Continuing education expenses 88.6% 81.6% Liability insurance 82.4% 73.5% Licenses 80.9% 76.2% Association dues 79.9% 73.5% Continuing education leave 66.0% 63.6% Medical/ hospitalization plan 61.4% 46.8% Discounted veterinary care for personally owned animals

58.3% 64.0%

Disability insurance 50.0% 34.0% Employer contribution/match to a tax-deferred retirement plan (i.e. 401(k), SIMPLE IRA, etc.)

47.5% 43.7%

Paid vacation leave 46.6% 54.9% Personal use of practice-owned vehicle 44.4% 35.0% Life insurance 42.9% 19.0% Paid legal holidays 38.9% 34.0%

Page 259 of 577



Tax-deferred retirement plan (i.e. 401(k), IRS-qualified profit-sharing plan)

38.0% 24.6%

Paid sick leave 34.9% 33.1% Uniform/clothing allowance 34.3% 30.2% Dental plan 26.2% 25.9% Reimbursed mileage for practice use of personal vehicle

12.7% 16.1%

No benefits provided/purchased 6.2% 5.4% Informal profit-sharing plan (not tax-deferred)

4.3% 2.9%

Paid maternity leave 3.7% 8.7% Paid paternity leave 3.7% 1.0% Other (Specify) 2.5% 4.3%

Two questions, asked only in the AAEP survey, pertained to retirement assets. Among

respondents, 63.8 percent reported having assets for retirement. The primary asset reported

was a combination of assets (36.2 percent) followed by a 401(k)/Keogh/IRA fund (31.3 percent)

(Table 58). Nearly 80 percent reported having a 401(k)/Keogh/IRA account (Table 59), about the

same percentage (79.1) as reporting being under the Social Security program which is usually

required for full-time workers.

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Table 58: Distribution of Equine Primary Assets for Retirement

AAEP (n=594) Percent

Combination of the above 36.2% 401(k)/Keogh/IRA 31.3% Real estate holdings 9.4% Sale of practice ownership interest 8.5% Other investments 6.4% Social Security 5.2%

Table 59: Distribution of Assets for Retirement among Respondents (select all that apply)

AAEP (n=593) Percent

Social Security 79.1% 401(k)/Keogh/IRA 77.9% Real estate holdings 49.1% Other investments 45.9% Sale of practice ownership interest 39.5% Inherited funds 21.9%

Among AAEP respondents, 28.8 percent indicated they were either very or extremely confident

in their financial preparation for retirement, while 34.5 percent indicated they were not very or

not at all confident and 36.8 percent of respondents were moderately confident.

Page 261 of 577



4.3 FAMILY STATUS

Just over half of the AAEP respondents (52.1 percent) indicated they have children. Another

31.4 percent of respondents reported that they did not have children (nor planned to during

their professional career), while 16.5 percent of respondents would like to have children during

their professional career (Figure 64).

Figure 64: Distribution of AAEP Respondents’ Children Status

Among Equine respondents, the mean number of children in a household was 2.4 compared to

2.1 children in the AVMA sample (Table 60).

Of the respondents who reported having children, 48.4 percent of Equine respondents reported

that they had children under the age of 18, as well as children over the age of 18 (ages 0 +);

39.8 percent of AVMA respondents (Figure 65) responded similarly. In addition, 42.8 percent of

Equine respondents reported having children only under the age of 18 (ages 0-18), and 8.9

percent reported having only children less than five years of age (ages 0-5). 31.4 percent of

16.5%

52.1%

31.4%

Distribution of AAEP Respondents' Children Status (n=695)

Would Like To Have Children Have Children Do Not Have Children

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AVMA respondents reported having children under the age of 18 (ages 0-18), and 28.8 percent

having only children under the age of five (ages 0-5).

Table 60: Mean Number of Children in Equine and AVMA Respondents’ Household

Obs. Mean Std. Dev. Min Max

Equine 395 2.44 1.29 1 12 AVMA 1,167 2.12 1.05 1 10

Figure 65: Distribution of Equine and AVMA Respondents’ Age of Children in Household

8.9%28.8%

42.8%

31.4%

48.4% 39.8%


% o

f Res

pond

ents

Age of Children (%)

Distribution of Respondents' Age of Children in Household

Under 5 Only Under 18 only Under/Over 18

Page 263 of 577



Of respondents who stated they had children or plan to have children, 87.5 percent expressed

that their employers were supportive of their decision to have a family. Of AAEP respondents,

40.1 percent had no maternity/paternity leave offered, 31.8 percent had one-two months, 14.2

percent two-four month, 1.7 percent more than four months, and 12.2 percent indicated some

other duration. Those in the other category stated they were sole proprietors, had unlimited

leave of some kind, unpaid leave, used sick leave, or had fewer than three weeks offered

(Figure 66).

Figure 66: Distribution of AAEP Respondents’ Number of Weeks of Maternity/Paternity Leave Offered by Employer (Paid or Unpaid)

With regard to available maternity or paternity leave, 41.2 percent of AAEP respondents

reported that none of the maternity or paternity leave was eligible for compensation, 34.6

percent reported one-two months of leave was eligible for compensation, 7.0 percent reported

two to four months of compensation-eligible leave, 0.7 percent reported more than four

months eligible for compensation; and 16.5 percent had another answer: About 25 percent of

40.1%

31.8%

14.2%

1.7%

12.2%

Distribution of AAEP Respondents' Number of Weeks of Maternity/Paternity Leave Offered by Employer (Paid or

Unpaid) (n=459)

No leave offered

1 - 2 months

2 - 4 months

Over 4 months

Other

Page 264 of 577



“Other” responded that they did not know if maternity/paternity leave was eligible for

compensation (Figure 67).

Figure 67: Distribution of AAEP Respondents’ Maternity/Paternity Leave That Is Eligible for Compensation

Of AAEP respondents who have or plan to have children and have a maternity and paternity

leave benefit, 49.0 percent indicated that the employer continues to provide benefits during

maternity and paternity leave (Figure 68). Over 58 percent of respondents indicated that one-

two months of benefits are provided during maternity and paternity leave (Figure 69).

34.6%

7.0%0.7%

16.5%

41.2%

Distribution of AAEP Respondents' Maternity/Paternity Leave That is Eligible for Compensation (n=272)

1 - 2 months

2 - 4 months

Over 4 months

Other

No compensation

Page 265 of 577



Figure 68: Distribution of AAEP Respondents’ Employer That Continues to Provide Benefits during Maternity/Paternity Leave

Figure 69: Distribution of AAEP Respondents’ Length of Time Their Employer Provides Benefits during Maternity/Paternity Leave

When AAEP respondents were asked if they had ever left a position due to maternity or

paternity leave issues, 3.4 percent of respondents indicated that they had done so. Asked how

51%49%

Distribution of AAEP Respondents' Employer That Continues to Provide Benefits during Maternity/Paternity Leave (n=445)

No Yes

0.5%

58.5%23.6%

4.3%

13.2%

Distribution of AAEP Respondents' Length of Time Their Employer Provides Benefits during Maternity/Paternity Leave

(n=212)

0 months

1 - 2 months

2 - 4 months

Over 4 months

Other

Page 266 of 577



well policy relating to maternity or paternity leave had been addressed in employment

contracts, 74.9 percent of AAEP respondents stated it had not been well addressed (Figure 70).

Figure 70: Distribution of AAEP Respondents and Whether or Not Maternity/Paternity Leave Policy Has Been Well Addressed in Employment Contracts

4.4 MARKET KEY PERFORMANCE INDICATOR: NET PRESENT VALUE

Net present value of the DVM/VMD degree is a key performance indicator for the profession as

it provides an indication of the willingness of society to compensate veterinarians for the

investment in the DVM/VMD degree. The NPV provides the current value of the life-long

earnings of the veterinarian above what they would have earned had they not obtained their

DVM/VMD degree.

4.4.1 Age Earnings Profile

The age-earnings profile of equine practitioners and the general veterinary profession provided

the mean salary for veterinarians by age, and is illustrated for males and females in Figure 71.

The age-earnings profile for equine practitioners and the age-earnings profile for the general

74.9%

25.1%

Distribution of AAEP Respondents and Whether or Not Maternity/Paternity Leave Policy Has Been Well Addressed in

Employment Contracts (n=692)

No Yes

Page 267 of 577



veterinary practitioners was obtained from more than 50,00035 observations of veterinarians

from across the profession. Both were used to provide the expected labor income at any given

age. The starting point for new graduates in the age-earnings profile was based off of the

average starting salary reported by recent graduates in the 2017 AVMA Senior Survey.

The shape of the lifetime earnings path for males (both equine practitioners and general

veterinary practitioners) is similar to an inverted-U: Earnings increase quickly at the beginning

of the career as experience (human capital) is quickly accumulated, reaches a peak as

experience is maximized, and then decreases with the tendency to want to work fewer hours

with age.

The female age-earning profile for equine practitioners and the general veterinary practitioners

has a quadratic form (leveling off in the mid-years) that is different from the male’s age-earning

profile. Why these differences in the male and female age-earning profiles occur is unknown.

Because these earnings paths represent what has happened in the past, they may predict what

will occur in the future. Absent any measured factors that contribute to these differences,

however, age-earnings profiles are used to estimate the NPV of the DVM/VMD degree.

35 The 50,000 observations come from the AVMA 2010 -2015 Biennial Economic Surveys (BES), the 2014 - 2015 AVMA employment surveys, and the AVMA 2016 Census of Veterinarians. 2,700 observations from the BES were equine practitioners and were used in the equine age-earnings profile.

Page 268 of 577



Figure 71: Equine Practitioner and General Veterinary Practitioner Age-Earnings Profiles by Gender

4.4.2 Net Present Value (NPV) of the DVM Degree

Net present value is the difference between the present value of cash inflows (income) and the

present value of cash outflows (expenses). Thus, in examining the NPV of a veterinary

$- $20,000 $40,000 $60,000 $80,000

$100,000 $120,000 $140,000 $160,000 $180,000

0 2 4 6 8 10 12 14 16 18 20 22 24 26 28 30 32 34 36 38 40 42 44

Aver

age

Annu

al In

com

e

Years of Experience

Equine Practitioner Age-Earnings Profile by Gender

Male Female

$- $20,000 $40,000 $60,000 $80,000

$100,000 $120,000 $140,000 $160,000 $180,000

0 2 4 6 8 1012141618202224262830323436384042444648

Aver

age

Annu

al In

com

e

Years of Experience

General Veterinary Practitioner Age-Earnings Profile by Gender

Male Female

Page 269 of 577



education, one would look at the present value of the expected cash flow from being employed

as a veterinarian over the course of the career minus the present value of the investment in

earning the veterinary degree. If the NPV is positive, then the investment yielded more inflow

than outflow. In the model presented here, the veterinary degree is compared with the

Bachelor’s degree to determine whether the additional investment in the DVM/VMD is borne

out by equivalently increased cash inflows over the course of the career.

The NPV has been declining in the general veterinary profession since 2010. The primary reason

for the declining NPV is the increasing opportunity costs 36: Starting salaries for bachelor degree

holders grew more than 19 percent during this time period, whereas starting salaries for the

DVM/VMD degree holders grew approximately 5.5 percent. If the earnings gap between

DVM/VMD and bachelor’s degree holders continues to narrow, veterinary students may begin

to view the DVM/VMD degree as not worth the price of admission to the veterinary profession.

The decline in the NPV for men has been much steeper than for women and this may be a

contributing factor to the changing gender distribution in the profession. Males have a much

larger opportunity cost to become a DVM than do women, as the gap between mean veterinary

income and that of a general Bachelor’s degree recipient is substantially less for men than for

women (Figure 72). However, in 2017 males crossed over into a positive net present value. This

is most likely due to a dip in the Bachelor’s degree holders’ starting salary for 2017, a rise in

male veterinarian starting salaries, and a decrease in average debt of male veterinarians.

36 The opportunity costs refer to the l ifetime income earning potential had veterinarians pursued an alternative career prior to entering veterinary college. The l ifetime mean earnings of a typical bachelor’s degree recipient are used to estimate opportunity costs. This alternative earning profile begins at graduation; a veterinarian gives up four years of alternative earning potential while in veterinary school and this must be overcome before there is a positive gain in earnings with the DVM (versus a bachelor’s degree only).

Page 270 of 577



Figure 72: Net Present Value of the DVM Degree of General Veterinary Practitioners by Gender

For equine practitioners, the NPV follows a similar pattern to the general veterinary profession,

but the NPV for female equine practitioners is lower than females in the general veterinary

profession. Male equine practitioners yielded similar NPV’s to the male general veterinary

profession from 2010-2014. In 2015, the male equine practitioner NPV started to separate, and

fall further below the males in the general veterinary profession (Figure 73).

2010 2011 2012 2013 2014 2015 2016 2017Male $140,728 $133,594 $70,292 $37,315 -$73,691 -$104,87 -$43,038 $117,23Female $438,236 $345,198 $283,583 $295,364 $236,769 $252,820 $308,892 $497,54

-$200,000

-$100,000

$0

$100,000

$200,000

$300,000

$400,000

$500,000

$600,000

Net Present Value of the DVM Degree of General Veterinary Practitioners by Gender

Page 271 of 577



Figure 73: Net Present Value of the DVM Degree of Equine Practitioners by Gender

Because of the low number of observations of Equine practitioners between 2010 and 2017,

Table 61 and Table 62 are provided for context in explaining the variability in the equine

practitioner NPV figure. Mean student debt and starting salary of equine practitioners from the

AVMA 2010-2017 Senior Surveys who accepted employment in full-time equine veterinary

medicine were reported, as well as general veterinary practioners who accepted employment

in full-time private practice are provided for comparison in Table 61. The mean debt and

income patterns vary considerably between the equine and general survey respondents.

2010 2011 2012 2013 2014 2015 2016 2017Male $138,954 $131,785 $68,506 $35,514 -$75,496 -$106,742 -$89,129 $87,110Female $353,979 $263,416 $203,182 $212,364 $152,644 $164,067 $196,609 $238,698

-$200,000

-$100,000

$0

$100,000

$200,000

$300,000

$400,000

Net Present Value of the DVM Degree of Equine Practitioners by Gender

Page 272 of 577



Table 61: Mean Veterinary Educational Debt and Mean Starting Salary of Graduating Seniors, 2010 - 201637

Female - Equine Practitioners Female - General Practitioners

Year Obs. Mean Student Debt

Mean Student Starting Salary

Obs. Mean Student Debt


2010 22 $106,427 $34,250 574 $110,589 $66,339 2011 30 $115,000 $42,621 513 $116,402 $64,390 2012 18 $97,222 $35,389 423 $124,570 $63,303 2013 26 $103,478 $42,615 724 $134,985 $65,350 2014 23 $108,580 $43,167 843 $131,546 $66,236 2015 25 $137,224 $42,096 974 $136,738 $69,879 2016 26 $123,346 $43,738 1169 $141,709 $73,330 2017 25 $118,370 $43,720 1103 $139,936 $76,661

Male - Equine Practitioners Male - General Practitioners

Year Obs. Mean Student Debt


Obs. Mean Student Debt


2010 9 $89,722 $48,778 211 $105,491 $68,786 2011 8 $97,188 $42,500 225 $103,859 $70,129 2012 3 $163,333 $31,500 167 $117,502 $69,248 2013 11 $130,591 $57,273 290 $117,136 $69,831 2014 5 $118,000 $37,500 297 $127,478 $69,994 2015 7 $110,257 $53,357 328 $129,115 $72,527 2016 7 $127,841 $51,857 271 $134,928 $75,915 2017 5 $176,490 $55,000 275 $130,787 $80,345

Examining the breakeven point, that point where the starting salary and debt from veterinary

college yield an NPV of zero, provides the best perspective on the effect of opportunity cost on

NPV (Table 62). Because of the difference between earning paths of men and women, these

tables are provided by gender. The NPV tables by gender allow a veterinary student to identify


Page 273 of 577



the NPV that represents the mean for the profession based on their starting debt and income

level, and, of course, gender. Based on this table, and given the mean debt and starting salary

of the small number of observations of equine practitioners, an individual’s NPV can be

identified. On the left of the table a value of debt is provided and on the right side of the table

the income necessary, given the level of debt in the same row, that is required to obtain a zero

NPV. This table indicates that for both men and women, approximately $2,000 in starting

salary is sufficient to offset an increase in $50,000 of debt to maintain the same NPV.

Table 62: Debt-to-Income and Net Present Value by Gender38

Male

Debt Income

Break-even income:

$30,000 $40,000 $50,000 $60,000 $65,000 $ - -1,120,876 -840,868 -560,860 -280,853 -140,849 $70,030

$50,000 -1,175,639 -895,631 -615,623 -335,615 -195,612 $71,986 $100,000 -1,230,402 -950,394 -670,386 -390,378 -250,375 $73,942 $150,000 -1,285,165 -1,005,157 -725,149 -445,141 -305,138 $75,898 $200,000 -1,339,928 -1,059,920 -779,912 -499,904 -359,901 $77,854 $250,000 -1,394,691 -1,114,683 -834,675 -554,667 -414,663 $79,809 $300,000 -1,449,454 -1,169,446 -889,438 -609,430 -469,426 $81,765 $400,000 -1,558,980 -1,278,972 -998,964 -718,956 -578,952 $85,677

Break-even debt:

n/a n/a n/a n/a n/a

38 Source: 2016 AVMA Report on The Market for Veterinarians

Page 274 of 577



Male, continued

Debt Income Break-even income:

$70,000 $75,000 $80,000 $90,000 $100,000 $ - -845 139,159 279,163 559,171 839,179 $70,030

$50,000 -55,608 84,396 224,400 504,408 784,416 $71,986 $100,000 -110,371 29,633 169,637 449,645 729,653 $73,942 $150,000 -165,134 -25,130 114,874 394,882 674,890 $75,898 $200,000 -219,897 -79,893 60,111 340,119 620,127 $77,854 $250,000 -274,660 -134,656 5,348 285,356 565,364 $79,809 $300,000 -329,423 -189,419 -49,415 230,593 510,601 $81,765 $400,000 -438,949 -298,945 -158,941 121,067 401,075 $85,677

Break-even debt:

n/a $127,056 $254,883 $510,537 $766,192

Female

Debt Income Break-even

income: $30,000 $40,000 $50,000 $60,000 $65,000 $ - -680,031 -390,014 -99,998 190,019 335,028 $53,448

$50,000 -734,794 -444,777 -154,760 135,256 280,265 $55,337 $100,000 -789,557 -499,540 -209,523 80,493 225,502 $57,225 $150,000 -844,320 -554,303 -264,286 25,731 170,739 $59,113 $200,000 -899,083 -609,066 -319,049 -29,032 115,976 $61,001 $250,000 -953,846 -663,829 -373,812 -83,795 61,213 $62,890 $300,000 -1,008,609 -718,592 -428,575 -138,558 6,450 $64,778 $400,000 -1,118,135 -828,118 -538,101 -248,084 -103,076 $68,554

Break-even debt: n/a n/a n/a $173,500 $409,737

Page 275 of 577



Female, continued

Debt Income Break-even

income: $70,000 $75,000 $80,000 $90,000 $100,000 $ - 480,036 625,045 770,053 1,060,070 1,350,087 $53,448

$50,000 425,273 570,282 715,290 1,005,307 1,295,324 $55,337 $100,000 370,510 515,519 660,527 950,544 1,240,561 $57,225 $150,000 315,747 460,756 605,764 895,781 1,185,798 $59,113 $200,000 260,984 405,993 551,001 841,018 1,131,035 $61,001 $250,000 206,222 351,230 496,238 786,255 1,076,272 $62,890 $300,000 151,459 296,467 441,475 731,492 1,021,509 $64,778 $400,000 41,933 186,941 331,950 621,966 911,983 $68,554

Break-even debt: $438,290 $570,680 $703,078 $967,870 $1,232,666

Page 276 of 577



4.5 EQUINE VETERINARY PROFESSION EMPLOYMENT

This report discusses four types of employment status:

1) Currently employed in private clinical veterinary medicine. This respondent is currently

working in private practice, a category that includes equine medicine, mixed animal

medicine, companion animal medicine, food animal medicine, or some other type of

animal medicine.

2) Employed, but not in private clinical veterinary medicine. This respondent is not working

in private practice but is working in a college or university, local, state or Federal

government, industry or commercial organization, not-for-profit organization,

uniformed services, non-veterinary employment, or some other form of veterinary

employment. These respondents may have a role as a professor (assistant, associate or

full), executive (chief executive officer/vice president/chief administrator/dean),

manager (division director/department chair/section head), clinician, researcher,

consultant, or some other position.

3) Retired from the general workforce. This respondent is no longer working in the general

workforce.

4) Unemployed. This respondent currently does not hold a job due to certain

circumstances.

Slightly more than four-fifths (80.5 percent) of Equine respondents were employed in clinical

veterinary medicine (AVMA: 67.0 percent); 11.4 percent were employed but not in clinical

veterinary medicine (AVMA: 23.6 percent); 6.6 percent were retired (AVMA: 6.0 percent); and

1.5 percent were unemployed (AVMA: 3.4 percent) (Table 63).

Page 277 of 577



Table 63: Distribution of Equine and AVMA Respondents by Employment Status

Current Employment Status Equine AVMA

Employed in clinical veterinary medicine 735 80.5% 1,697 67.0% Employed, but not in clinical veterinary medicine 104 11.4% 598 23.6% Retired from the general workforce 60 6.6% 87 6.0% Unemployed 14 1.5% 152 3.4% Total 913 100.0% 2,534 100.0%

Of the Equine respondents who were not practicing in clinical veterinary medicine,

approximately 71 percent were in professor roles (AVMA: 26.1 percent) and 24.7 percent in a

clinician position (AVMA: 19.4 percent), followed by 2.2 percent of respondents who were

managers (AVMA: 21 percent), and 2.2 percent in another type of field (AVMA: 26.8 percent).

Though none of the Equine respondents reported being executives or researchers, 2.5 percent

of AVMA respondents reported being the former, and 4.2 percent the latter (Table 64).

Table 64: Distribution of Equine and AVMA Respondents by Type of Position in a Non-Clinical Veterinary Medicine Role

Non-Clinical Vet Medicine Role Equine AVMA

Professor 66 71.0% 113 26.1% Executive 0 0.0% 11 2.5% Manager 2 2.2% 91 21.0% Clinician 23 24.7% 84 19.4% Researcher 0 0.0% 18 4.2% Other 2 2.2% 116 26.8% Total 93 100% 433 100.0%

The number of hours per week respondents currently work (regular plus emergency hours)

varied widely, ranging from four hours to 142 hours for Equine respondents and one hour to

168 hours (the maximum number of hours in a week) for AVMA respondents. However, the

mean hourly work week for Equine respondents was 54.9 hours for males and 56.6 hours for

females with the majority (60.4 percent) between 40 and 60 hours per week. For the AVMA

survey respondents, the mean hourly work week was 48.5 hours for males and 45.9 hours for

Page 278 of 577



females, with the majority (68.0 percent) of AVMA respondents between 40 and 60 hours per

week (Table 65).

Table 65: Mean Number of Hours Worked per Week (Regular and Emergency Hours) by Equine and AVMA Respondents by Gender


Equine - Male 257 54.91 15.99 5 118 Equine - Female 340 56.59 17.69 4 142 AVMA - Male 626 48.48 15.43 4 168 AVMA- Female 1,512 45.94 15.40 1 140

Figure 74 displays the percentage of hours (regular plus emergency) worked by female and

males. Of male Equine respondents, 89.5 percent and 89.4 percent of female Equine

respondents reported working more than 40 hours a week. By comparison, 80.8 percent of

male AVMA respondents and 78.3 percent of female AVMA respondents reported working

more than 40 hours a week.

0.0%5.0%

10.0%15.0%20.0%25.0%30.0%35.0%

0-9 10-19 20-29 30-39 40-49 50-59 60-69 70-79 80+

% o

f Res

pond

ents

Number of Hours per Week

Distribution of Equine Respondents' Number of Hours Worked Per Week (Regular and Emergency Hours) by Gender


Page 279 of 577



Figure 74: Distribution of Equine and AVMA Respondents’ Number of Hours Worked per Week (Regular and Emergency Hours) by Gender

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

0-9 10-19 20-29 30-39 40-49 50-59 60-69 70-79 80+

% o

f Res

pond

ents

Number of Hours per Week

Distribution of AVMA Respondents' Number of Hours Worked Per Week (Regular and Emergency Hours) by Gender

Male (n=792) Female (n=1,463)

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4.5.1 Full-Time and Part-Time Employment

Full-time employment is classified in this report as respondents who worked 30 or more regular

hours, emergency hours, or a combination of both during the normal work week in 2015. Part-

time is classified as respondents who worked fewer than 30 regular hours, emergency hours, or

a combination of both during the work week. Statistics were drawn from Equine respondents

who were actively practicing in an equine practice (equine practitioners) and AVMA

respondents who were working in a private veterinary practice (also referred to in this report as

clinical veterinary medicine).

Among those in clinical veterinary medicine, 94.6 percent of Equine respondents reported

working full time and the remaining 5.4 percent were employed part time. In the AVMA

sample, 89.0 percent were employed full time and 11.0 percent were employed part time in

clinical veterinary medicine (Figure 75).

Figure 75: Distribution of Equine and AVMA Respondents Full- and Part-Time Employment Status in Clinical Veterinary Medicine

94.6%89.0%

5.4%11.0%


% o

f Res

pond

ents

Employment Status

Distribution of Respondents' Full- & Part-Time Employment Status in Clinical Veterinary Medicine

Full-Time Part-Time

Page 281 of 577



4.5.1.1 Full-Time

Regular Hours

The number of regular hours worked per week by Equine respondents employed full time in

equine medicine averaged 49.3 hours, while for AVMA respondents the average was 43.7 hours

per week (Table 66). The distribution of regular work hours by the Equine and AVMA samples

who are employed full time indicates that in all categories of hours worked, there was a higher

percentage of Equine respondents than AVMA respondents (Figure 76).

Table 66: Distribution of Full-Time Employee Equine and AVMA Respondents’ Regular Hours Worked per Week in Clinical Veterinary Medicine


Equine 492 49.30 11.53 20 110 AVMA 1,471 43.72 10.51 0 100

Figure 76: Distribution of Equine and AVMA Respondents’ Regular Hours Worked per Week in Clinical Veterinary Medicine

0.2%

4.9%25.2%

41.3%19.3% 9.1%

2.3%

4.6%41.4%

38.1%10.4% 3.3%

0-20 hours 21-30 hours 31-40 hours 41-50 hours 51-60 hours 60 + hours

% o

f Res

pond

ents

Hours per Week

Distribution of Respondents' Regular Hours Worked per Week in Clinicial Veterinary Medicine


Page 282 of 577



Emergency Hours

On average, Equine respondents employed full time worked 10.0 emergency hours during a

typical week compared to 7.1 hours for full-time AVMA respondents (Table 67).The distribution

of emergency work hours by the Equine and AVMA samples who are employed full time

indicates that in all categories of hours worked above 30 hours there was a higher percentage

of Equine respondents than there were AVMA respondents (Figure 77). In other words,

emergency work constitutes a higher percentage of total working hours per week for Equine

than for AVMA respondents.

Table 67: Distribution of Equine and AVMA Respondents’ Emergency Hours Worked during a Typical Week


Equine 457 10.04 11.68 0 156 AVMA 1,281 7.05 11.69 0 128

Figure 77: Distribution of Equine and AVMA Respondents’ Emergency Hours Worked per Week in Clinical Veterinary Medicine as a Percentage of Total Hours Worked

7.2%31.3%

35.4% 13.1% 5.9% 7.0%

30.8%35.1%

18.9% 5.4% 3.1% 6.8%

0-20 hours 21-30 hours 31-40 hours 41-50 hours 51-60 hours 60 + hours

% o

f Res

pond

ents

Total Hours Worked per Week

Distribution of Respondents' Emergency Hours Worked per Week in Clinical Veterinary Medicine as a Percentage of

Total Hours Worked


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4.5.1.2 Part-Time

Regular Hours

The number of regular hours worked per week for part-time employees averaged 14.7 hours

for Equine and 19.0 hours per week for AVMA respondents (Table 68). The maximum number

of hours worked by a part-time Equine respondent(s) was 28 hours, and 29 hours for an AVMA

respondent(s). The distribution of regular work hours by the Equine and AVMA sample

respondents who were employed part time indicates that in all categories of hours worked

above 10 hours, there was a smaller percentage of Equine respondents than there were AVMA

respondents (Figure 76).

Table 68: Distribution of Equine and AVMA Respondents’ Part-Time Regular Hours Worked per Week in Clinical Veterinary Medicine Emergency Hours


Equine 27 14.67 8.44 0 28 AVMA 181 18.96 6.52 0 29

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Figure 78: Distribution of Equine and AVMA Respondents’ Part-Time Regular Hours Worked per Week in Clinical Veterinary Medicine

Questions were asked of both the Equine and AVMA samples about whether their part-time

work should be classified as emergency coverage, regular part-time, relief coverage, semi-

retired, or some other type of part-time work at their place of employment. The respondents

selected all that applied. 58.3 percent of part-time Equine respondents reported being semi-

retired and 41.7 percent reported working regular part-time hours. AVMA respondents

reported 68 percent working regular part-time hours and 22.2 percent relief coverage (Table

69).

Table 69: Distribution of Part-Time Equine and AVMA Respondents’ Type of Employment (select all that apply)

Type of Part-Time Employment Equine (n=24) AVMA (n=153)

Semi -Retired 58.3% 15.7% Regular Part Time 41.7% 68.0% Other 16.7% 4.6% Relief Coverage 12.5% 22.2% Emergency Coverage 8.3% 2.0%

7.4% 11.1%18.5% 40.7%

22.2%

0.6% 1.7%14.4% 43.1%

40.3%

0 hrs 1-5 hrs 6-10 hrs 11-20 hrs 21-29 hrs

% o

f Res

pond

ents

Hours per Week

Distribution of Respondents' Regular Part-Time Hours Worked per Week in Clinical Veterinary Medicine


Page 285 of 577



Emergency Hours

On average, Equine respondents employed part time worked four emergency hours during a

typical week , compared to 1.9 hours for AVMA respondents employed part time (Table 70).

The maximum number of emergency hours worked by an Equine respondent(s) was 16 hours,

and 24 hours for an AVMA respondent(s). The distribution of emergency work hours by the

Equine and AVMA samples who were employed part time indicates that in several categories of

hours of emergency work there was a higher percentage of Equine respondents than there

were AVMA respondents (Figure 79).

Table 70: Distribution of Equine and AVMA Respondents’ Emergency Hours Worked during a Typical Week


Equine 22 4.01 4.47 0 16 AVMA 119 1.93 3.98 0 24

Figure 79: Distribution of Equine and AVMA Respondents’ Part-Time Emergency Hours Worked per Week in Clinical Veterinary Medicine

31.8%

50.0%4.5%

13.6%

62.2%

27.7%5.9%

3.4%

0.8%

0 hrs 1-5 hrs 6-10 hrs 11-20 hrs 21-29 hrs

Distribution of Respondents' Part-Time Emergency Hours Worked per Week in Clinical Veterinary Medicine


Page 286 of 577



4.5.1.3 On-call/Emergency Duty

Only the AAEP sample was asked about on-call/emergency duty. On average, approximately 49

percent of on-call or emergency duty was performed by an AAEP respondent at their place of

employment where they were working full time in equine practice. Among AAEP respondents,

65.2 percent performed more than 25 percent of the on-call/emergency duty in their practice,

and 32.6 percent were responsible for more than half of the needed on-call/emergency duty

(Figure 80).

Figure 80: Distribution of Equine Respondents and the Percentage of the Total Amount of On-Call/Emergency Duty That They Perform at Their Place of Employment

Equine veterinarians who are solo practitioners can be on call or performing emergency duty

100 percent of the time. Among 72 solo practitioners, 46 (63.9 percent) were on call or

performed emergency duty 100 percent of the time. The higher the number of full-time

equivalent (FTE) veterinarians at the place of a respondent’s employment, the more likely

respondents reported lower on-call/emergency duty percentages: 1-1.5 FTE reported an

average of 67.1 percent on-call/emergency duty at their place of employment while

9.5% 9.2%

16.2%

32.6%

4.0% 3.7%

24.9%

0% 1-10% 11-25% 26-50% 51-75% 76-99% 100%

% o

f Res

pond

ents

Percent of On-call/Emergency Duty

Distribution of Equine Respondents and the Percentage of the Total Amount of On-Call/Emergency Duty That They

Perform at Their Place of Employment (n=402)

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respondents with more than six FTE veterinarians reported on average 30.2 percent of on-call

or emergency duty (Figure 81).

Figure 81: Distribution of Equine Respondents and the Percentage of the Total Amount of On-Call/Emergency Duty That They Perform at Their Place of Employment by Number of Veterinarians at Their Place of Employment


The mean number of weeks it took for Equine respondents to find their current job was 6.7

weeks. AVMA respondents reported a mean of 7.5 weeks to find their current job (Table 71).

Table 71: Mean Number of Weeks It Took Equine and AVMA Respondents to Find Their Current Job


Equine 433 6.67 10.33 0 75 AVMA 2,142 7.46 17.93 0 312

67.1%

46.0%38.8% 35.7% 32.5% 30.2%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

1-1.5 FTE 2-2.5 FTE 3-3.5 FTE 4-4.5 FTE 5-5.5 FTE 6 + FTE

% o

f Res

pond

ents

Number of Veterinarians (Full-Time Equivalent)

Distribution of Equine Respondents and the Percentage of the Total Amount of On-Call/Emergency Duty That They Perform at Their Place of Employment

by Number of Veterinarians at Their Place of Employment (n=433)

On Call/Emergency Duty

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The largest percent of Equine respondents (44.9 percent) have been with their current

employer for less than five years (AVMA: 62.8 percent), less than 20 percent have been with

their employer for 6-10 years (AVMA: 14.9 percent) and 39.7 percent of Equine respondents

(AVMA: 22.3 percent) have been with their employer for more than 10 years (Figure 82).

Figure 82: Distribution of Equine and AVMA Respondents by Years with Current Employer

Equine respondents on average received at least one other job offer before deciding to accept

employment with their current employer, while AVMA respondents had about two other job

offers before choosing their current place of employment (Table 72). The majority of Equine

respondents worked an average of 48 weeks during the year at their current job (Table 73) and

AVMA respondents worked on average approximately 47 weeks.

Table 72: Distribution of Equine and AVMA Respondents’ Number of Job Offers Received before Choosing Their Current Employment

Obs. Mean Std. Dev Min Max

Equine 455 1.20 1.42 0 10 AVMA 2,149 1.59 1.70 0 25

44.9%

15.4%

39.7%

62.8%

14.9%22.3%

Less than 5 years 6-10 years More than 10

% o

f Res

pond

ents

Number of Years

Distribution of Respondents by Years with Current Employer


Page 289 of 577



Table 73: Distribution of Equine and AVMA Respondents’ Number of Weeks Worked in 2015

Obs. Mean Std. Dev Min Max

Equine 771 47.70 7.17 0 52 AVMA 2,238 47.25 7.27 0 52

4.5.3 Employment Satisfaction

Respondents were asked to rate their satisfaction with their employment on a scale of one to

five : 1 - Not all satisfied, 2 - Not too satisfied, 3 - Moderately Satisfied, 4 - Very Satisfied, and 5 -

Extremely Satisfied.

Among Equine respondents, 77.7 percent (AVMA: 69.4 percent) of males reported being very,

to extremely satisfied with their employment and 65.7 percent (AVMA: 59.0 percent) of

females reported being very to extremely satisfied with their employment. Women in the

Equine and AVMA samples showed a higher frequency of being moderately to not too satisfied

with their employment compared to males. The overall trend of respondents showed a slightly

higher satisfaction quotient among the Equine respondents then the AVMA respondents (Table

74).

Table 74: Distribution of Equine and AVMA Respondents’ Satisfaction with Current Employment by Gender


Male Female Male Female Not at all satisfied 0.9% 1.3% 1.3% 1.8% Not too satisfied 3.5% 6.3% 5.2% 7.1% Moderately satisfied 17.9% 26.7% 24.1% 32.0% Very satisfied 36.2% 37.9% 42.8% 39.4% Extremely satisfied 41.5% 27.8% 26.6% 19.6%

Page 290 of 577



The effect of employment satisfaction was examined with respect to respondents’ gender and

was statistically significant ((p-value <.001). Equine respondent males had a greater mean

satisfaction (4.14) than females (3.85). For the AVMA sample, male mean satisfaction was

lower than that of the Equine males (3.88) and AVMA females’ mean satisfaction (3.68) was

lower than thethe Equine females’ (Table 75).

Table 75: Effect of Equine and AVMA Respondents’ Employment Satisfaction by Gender

N Mean Std. Dev. N Mean Std. Dev. Pr > |t|

Male Female Equine 318 4.14 0.89 446 3.85 0.95 0.00 AVMA 631 3.88 0.90 1,526 3.68 0.93 0.00

Employment satisfaction was also related to graduation year (years of experience), with the

respondents in both the Equine and AVMA samples reporting higher satisfaction levels (very to

extremely satisfied) as experience increased (Table 76).

Table 76: Distribution of Equine and AVMA Respondents’ Employment Satisfaction by Graduation Year

Equine (n=765) < 1966 1967-1976

1977-1986

1987-1996

1997-2006

2007-2011

2012-2016

Not at all satisfied 0.0% 0.0% 0.0% 1.4% 1.4% 1.8% 1.5% Not too satisfied 0.0% 2.1% 2.5% 5.0% 3.4% 7.3% 8.8% Moderately satisfied 0.0% 14.6% 15.6% 21.6% 18.5% 29.1% 33.1% Very satisfied 33.3% 33.3% 41.0% 34.5% 39.0% 36.4% 36.0% Extremely satisfied 66.7% 50.0% 41.0% 37.4% 37.7% 25.5% 20.6%

Page 291 of 577



AVMA (n=2,243) < 1966 1967-1976

1977-1986

1987-1996

1997-2006

2007-2011

2012-2016

Not at all satisfied 6.7% 0.0% 0.0% 0.3% 1.6% 2.1% 2.9% Not too satisfied 0.0% 3.2% 2.0% 6.2% 6.5% 6.5% 8.2% Moderately satisfied

13.3% 17.7% 19.6% 28.7% 33.2% 32.3% 29.5%

Very satisfied 26.7% 46.8% 41.8% 40.2% 35.0% 40.0% 43.7% Extremely satisfied

53.3% 32.3% 36.6% 24.6% 23.6% 19.1% 15.8%

The year of graduation of a respondent (p <.001) was a significant factor in the satisfaction level

of both Equine and AVMA respondents. The mean of employment satisfaction reported by

respondents increased the longer the respondents had been out of veterinary school (Table

77).

Table 77: Mean Employment Satisfaction of Equine and AVMA Respondents by Year of Graduation

Equine N Mean Std. Dev.

< 1967 9 4.67 0.50 1967-1976 48 4.31 0.80 1977-1986 122 4.20 0.79 1987-1996 139 4.01 0.96 1997-2006 146 4.08 0.91 2007-2011 165 3.76 0.97 2012-2016 136 3.65 0.92

AVMA N Mean Std. Dev.

< 1967 2 5 0 1967-1976 21 4.00 1.00 1977-1986 89 4.17 0.80 1987-1996 174 3.99 0.82 1997-2006 352 3.80 0.89 2007-2011 633 3.71 0.95 2012-2016 972 3.65 0.94

Page 292 of 577



When practice owners and associates were asked about employment satisfaction, 49.4 percent

of Equine respondent practice owners were extremely satisfied with their employment versus

20.2 percent of Equine associates. Among AVMA respondents, 45.2 percent of owners were

extremely satisfied versus 15.4 percent of associates. More than 40 percent of respondents in

both the Equine and AVMA samples who were not practice owners reported being not at all

satisfied to moderately satisfied with their employment. This contrasts with about 20 percent

of practice owner respondents in both samples who reported this level of satisfaction (Table

78).

Table 78: Distribution of Equine and AVMA Respondents’ Employment Satisfaction by Practice Owners and Associates


Practice Owner Associate Practice Owner Associate Not at all satisfied 0.3% 2.7% 0.0% 2.6% Not too satisfied 2.7% 8.4% 3.7% 7.9% Moderately satisfied 13.8% 31.2% 17.9% 32.9% Very satisfied 33.8% 37.6% 33.1% 41.1% Extremely satisfied 49.4% 20.2% 45.2% 15.4%

The satisfaction level of Equine and AVMA respondents was significant with regard to

ownership status (p <.001) (Table 79). On average, both Equine and AVMA respondents who

owned a practice reported they are very satisfied with their employment (Equine: 4.29; AVMA:

4.20) versus non-owner respondents (Equine: 3.64; AVMA: 3.59).

Table 79: Mean Employment Satisfaction of Equine and AVMA Respondents by Practice Owners and Associates

Practice Owner Associate

N Mean Std. Dev. N Mean Std. Dev. Pr > |t| Equine 334 4.29 0.83 263 3.64 0.98 0.00 AVMA 429 4.20 0.86 1,148 3.59 0.93 0.00

Page 293 of 577



Factors Affecting Employment Satisfaction

The difference in mean employment satisfaction level was examined with gender, year of

graduation (years of experience in the veterinary field), practice ownership, education

preparation, highest educational degree obtained, income, type of practice, internship and

residency participation, hours worked per week, full-time status, and compensation method. In

addition, type of employment was added to the AVMA sample model. An ordered logit was

used to test the ability of these specific variables.

Ordered logits are used for ordinal variables, such as the levels of employment satisfaction

(ranked 1 -5). Like the binary logit (as explained earlier in this report), the main criterion to be

observed is whether the coefficient is positive or negative. This will indicate the direction of the

relationship (i.e., negative is less likely to be satisfied with current employment and positive

more likely to be satisfied with current employment). Variables that significantly contribute to

predictive ability of the model would have a p-value of .10 or less in the column labeled “Sig.”

and the “Odds Ratio” is the odds ratio for each of the independent variables and is defined as

“the change in odds of being in one of the categories of outcome when the value of one of the

independent variables (predictors) increases by one point.”39 To interpret the odds ratio, the

odds ratio value is subtracted by one to obtain the likelihood of the event occurring.

To avoid statistical errors, baseline variables are used to compare against. The baseline

variables are private practice owned by a single veterinarian (AAEP model), sole proprietary

private practice with veterinarian(s) (AVMA model), salary compensation method, and

companion animal exclusive practice (AVMA model).


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According to the AAEP model (Table 80), there were several significant variables: practice

ownership, gender, education preparation, residency participation, DVM only (no additional

degree), income, private practice/private corporation, and owner compensation with

differentiation. The significant variables had a positive relationship with employment

satisfaction, except for respondents who participated in a residency, in which there was a

negative relationship with employment satisfaction. In the AVMA model, significant variables

with a positive relationship were practice ownership, education preparation, DVM only, and

income. AVMA model variables with a negative relationship were specialty degree and

residency participation.

As an example of interpretation, the odds of higher satisfaction are 2.70 greater (.59 greater in

the AVMA model) for AAEP respondents who own a practice compared to non-practice owners,

given the other variables are held constant in the model. For respondents with higher

education preparation, the odds of higher satisfaction versus the combined effect of other

levels of satisfaction is 1.39 greater (1.70 in the AVMA model), given all the other variables are

held constant. In the AAEP sample, for respondents who participated in a residency compared

to respondents who did not particpate in a residency, the odds of higher satisfaction versus the

combined effect of other levels of satisfaction is .43 lower (.35 lower in the AVMA model), given

all the other variables are held constant.

Table 80: Effect of Employment Satisfaction


Practice Ownership (Yes=1) 0.994 0.274 0.00*** 2.70 Gender (Female=1) 0.699 0.233 0.00*** 2.01 Graduation Year 0.012 0.010 0.25 1.01 Education Preparation (5=Extremely well/1=Not well at all)

0.326 0.124 0.01*** 1.39

Bachelor’s (baseline) Omitted Ph.D. -0.498 0.911 0.59 0.61

Page 295 of 577



Master’s 0.285 0.271 0.29 1.33 Specialty Degree 0.028 1.100 0.98 1.03 DVM only 0.570 0.273 0.04** 1.77 Internship (Yes=1) 0.295 0.204 0.15 1.34 Residency (Yes=1) -0.562 0.288 0.05** 0.57 Income 0.000 0.000 0.00*** 1.00 Hours worked -0.003 0.003 0.38 1.00 Full-Time (Yes=1) 0.432 0.427 0.31 1.54 Private practice owned by a single veterinarian (baseline)

Omitted

Private practice/private corporation 0.342 0.195 0.08* 1.41 Salary (baseline) Omitted Hourly or per diem -0.169 0.687 0.81 0.84 Production only 0.241 0.311 0.44 1.27 Salary with production-based incentive 0.028 0.254 0.91 1.03 Other method -0.406 0.518 0.43 0.67 Salary without production-based incentive 0.625 0.825 0.45 1.87 Owner with no differentiation 0.111 0.298 0.71 1.12 Owner with differentiation 0.779 0.389 0.05** 2.18

Observations 503





Practice Ownership (Yes=1) 1.246 0.171 0.00*** 0.59 Gender (Female=1) 0.106 0.119 0.38 1.11 Graduation Year -0.007 0.006 0.22 0.99 Education Preparation (5=Extremely well/1=Not well at all)

0.533 0.066 0.00*** 1.70

Bachelor’s Ph.D. -0.124 0.241 0.61 0.88 Master’s -0.169 0.151 0.26 0.84 Specialty Degree -2.906 1.073 0.01*** 0.05

Page 296 of 577



DVM only 0.358 0.171 0.04** 1.43 Internship (Yes=1) -0.050 0.129 0.70 0.95 Residency (Yes=1) -0.437 0.212 0.04** 0.65 Income 0.000 0.000 0.00*** 1.00 Hours worked -0.002 0.004 0.61 1.00 Full-Time (Yes=1) -0.081 0.200 0.69 0.92 Salary (baseline) Omitted Hourly -0.099 0.191 0.61 0.91 Production 0.190 0.179 0.29 1.21 Mix of salary with opportunity for production-based compensation

0.158 0.122 0.20 1.17

Owner withdrawals -0.083 0.195 0.67 0.92 Companion Animal (baseline) Omitted Food Animal 0.197 0.320 0.54 1.22 Equine 0.167 0.239 0.49 1.18 Mixed Animal -0.041 0.190 0.83 0.96 Federal Government -0.330 0.491 0.50 0.72 Uniformed Services -0.736 1.610 0.65 0.48 College/University 0.594 0.446 0.18 1.81 State/Local Government 0.693 0.686 0.31 2.00 Industry/Commercial Organization 0.315 0.640 0.62 1.37 Not-for-profit 0.510 0.571 0.37 1.67 Advanced Education -0.059 0.422 0.89 0.94 Other veterinary employment 0.467 0.305 0.13 1.60 Non-veterinary employment 0.082 0.686 0.91 1.09

Observations 1,542




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Remain Employed

Another unique question asked of AAEP respondents was if they were likely to remain

employed at their organization over the next five years. The majority of AAEP respondents

reported that it was very to extremely likely that they would stay at their current job over the

next five years (Male: 72.9 percent; Female: 66.3 percent) (Figure 83). A sizeable group of

respondents, however, reported they are only moderately likely to not at all likely to stay

employed within the next five years at their current employment (25.7 percent of males and

31.2 percent of females).

Figure 83: Distribution of AAEP Respondents’ Likelihood That They Will Choose to Remain Employed at Their Organization over the Next Five Years by Gender

When the likelihood of staying at their organization over the next five years is shown with

respect to graduation year (Figure 84), 42.8 percent of AAEP respondents revealed that they

are not at all likely to moderately likely to want to stay at their job if they entered the

veterinary workforce within the last five years. Of those, 26.7 percent reported they were not

very likely to not at all likely to remain in their present position. 18.5 percent of AAEP

Not at alllikely

Not verylikely

Moderatelylikely Very likely Extremely

likely Not sure

Male (n=288) 3.1% 10.8% 11.8% 21.9% 51.0% 1.4%Female (n=401) 5.7% 8.2% 17.2% 24.2% 42.1% 2.5%

% o

f Res

pond

ents

Liklihood of Staying at Current Job

Distribution of AAEP Respondents' Likelihood That They Will Choose to Remain Employed at Their Organization over the Next Five Years by

Gender

Page 298 of 577



respondents who graduated between 2011 and 2007 reported the same. 85.7 percent of those

Equine respondents who graduated in 1967 or before reported they are extremely likely to very

likely to remain in their current employment. The occurrence of AAEP respondents reporting

they are extremely likely to stay at their workplace is more than 50 percent for those who

graduated between 1977-2006.

Figure 84: Distribution of AAEP Respondents' Likelihood That They Will Choose to Remain Employed at Their Organization over the Next Five Years by Graduation Year

About two-thirds of the AAEP respondents indicated that they had a previous employer. The

distribution of how long these AAEP respondents had been employed at their most recent

previous place of employment prior to respondents’ current employment is provided with

respect to the year they graduated from veterinary school (Figure 85).

< 1967 1967-1976

1977-1986

1987-1996

1997-2006

2007-2011

2012-2016

Not sure 0.0% 2.1% 0.8% 3.2% 1.6% 0.7% 4.5%Extremely likely 57.1% 42.6% 52.1% 57.9% 54.3% 37.7% 26.8%Very likely 28.6% 14.9% 26.1% 21.4% 20.9% 25.3% 25.9%Moderately likely 0.0% 21.3% 11.8% 10.3% 16.3% 17.8% 16.1%Not very l ikely 14.3% 17.0% 5.9% 4.8% 3.9% 10.3% 19.6%Not at all likely 0.0% 2.1% 3.4% 2.4% 3.1% 8.2% 7.1%

0%10%20%30%40%50%60%70%80%90%

100%

% o

f Res

pond

ents

by

Likl

ihoo

d

Year of Graduation

Distribution of AAEP Respondents' Likelihood That They Will Choose to Remain Employed at Their Organization over the Next Five Years by Graduation Year

(n=686)

Page 299 of 577



Figure 85: Distribution of AAEP Respondents' Length of Time with Most Recent Previous Place of Employment

< 1967 1967-1976

1977-1986

1987-1996

1997-2006

2007-2011

2012-2016

10 years or more 0.0% 52.9% 31.7% 11.0% 4.5% 0.0% 0.0%6-10 years 25.0% 23.5% 16.8% 30.0% 23.6% 7.0% 0.0%Less than 5 years 75.0% 23.5% 51.5% 59.0% 71.9% 93.0% 100.0%

% o

f Res

pond

ents

Year of Graduation

Distribution of AAEP Respondents' Length of Time with Most Recent Previous Place of Employment (n=478)

Page 300 of 577



Level of Satisfaction with Previous Employment

Among AAEP respondents, 48.7 percent of males reported that they were very to extremely

satisfied at their previous place of employment compared to 28.9 percent of females; 39.2

percent of female respondents reported being not at all to not too satisfied, while 20.6 percent

of male respondents reported being not at all to not too satisfied; 30.8 percent of male

respondents and 31.9 percent of female respondents were moderately satisfied at their

previous place of employment (Figure 86).

Figure 86: Distribution of AAEP Respondents' Level of Satisfaction with Most Recent Previous Place of Employment by Gender

More than 40 percent of AAEP respondents that graduated from veterinary school in the last 10

years (2016-2012 and 2011-2007) were not at all to not too satisfied with their previous

employment. Satisfaction level increased as when respondents were 20 years out of veterinary

school (Figure 87).

3.6%17.1%17.0%

22.1%30.8%

31.9%

36.2%17.1%

12.5% 11.8%


% o

f Res

pond

ents

Gender

Distribution of AAEP Respondents' Level of Satisfaction with Most Recent Previous Place of Employment by Gender

Extremely satisfied

Very satisfied

Moderately satisfied

Not too satisfied

Not at all satisfied

Page 301 of 577



Figure 87: Distribution of AAEP Respondents’ Level of Satisfaction with Most Recent Previous Place of Employment by Graduation Year

<1967

1967-1976

1977-1986

1987-1996

1997-2006

2007-2011

2012-2016

Extremely satisfied 40.0% 17.1% 18.8% 9.9% 6.7% 6.9% 19.2%Very satisfied 20.0% 34.3% 33.7% 33.7% 24.4% 14.9% 11.5%Moderately satisfied 40.0% 31.4% 30.7% 32.7% 31.1% 34.7% 23.1%Not too satisfied 0.0% 8.6% 15.8% 17.8% 23.3% 26.7% 21.2%Not at all satisfied 0.0% 8.6% 1.0% 5.9% 14.4% 16.8% 25.0%

0%10%20%30%40%50%60%70%80%90%

100%

% o

f Res

pond

ents

Year of Graduation

Distribution of AAEP Respondents' Level of Satisfaction with Most Recent Previous Place of Employment by Graduation Year (n=485)

Extremely satisfied

Very satisfied


Not too satisfied


Page 302 of 577



Change Veterinary Sector

Equine respondents were asked if they could, would they change to a different veterinary

sector, and 83.3 percent indicated they would not (AVMA: 71.8 percent). When sorted by

gender, 13 percent of Equine males would change if they could the veterinary sector in which

they worked, compared to 19 percent of Equine females. Examining the respondents’ choices

in the context of satisfaction level with their current employment, 19.0 percent Equine

respondents (AVMA: 3.9 percent) who said they would if they could change their veterinary

sector were not at all satisfied with their current employment, and 13.6 percent of respondents

(AVMA: 27.2 percent) who said they would not change if they could their veterinary sector

were extremely satisfied with their current employment (Figure 88).

9.1% 19.0%19.8%

19.0%

31.4%31.0%

26.2%23.8%

13.6% 7.1%

No (n=405) Yes (n=84)

% o

f Equ

ine

Resp

onde

nts


Distribution of Equine Respondents' Desire to Change the Veterinary Sector in Which They Currently Work (if they

could) by Current Employment Satisfaction

Extremely satisfied

Very satisfied


Not too satisfied


Page 303 of 577



Figure 88: Distribution of Equine and AVMA Respondents’ Desire to Change the Veterinary Sector in Which They Currently Work (if they could) by Current Employment Satisfaction

The distribution of Equine and AVMA respondents who prefer to change and not change their

veterinary sector if they could is illustrated by the year they graduated and generally indicates

that the fewer years from graduation, the more likely the respondent preferred to change

sectors (Figure 89). Among those Equine respondents that graduated from 2012-2016, just 21.3

percent reported they would like to change veterinary sectors if they could, compared to 31.1

percent of AVMA respondents.

3.9%4.0%13.0%

24.2%

44.1%43.8%

30.3%27.2%

8.8%

No (n=1,634) Yes (n=640)

% o

f AVM

A Re

spon

dent

s


Distribution of AVMA Respondents' Desire to Change the Veterinary Sector in Which They Currently Work (if they


Extremely satisfied

Very satisfied


Not too satisfied


Page 304 of 577



Figure 89: Distribution of Equine and AVMA Respondents’ Desire to Change the Veterinary Sector in Which They Currently Work (if they could) by Graduation Year

21.3%

33.1%

16.5%17.3%10.2%

1.6%0.0%

% o

f Res

pond

ents

Year of Graduation

Distribution of Equine Respondents' Desire to Change the Veterinary Sector in Which They Currently Work (if they

could) by Graduation Year (n=766)

No (n=639) Yes (n=127)

31.1%24.9%26.8%

13.4%3.0%0.5%0.3%

% o

f Res

pond

ents

Year of Graduation

Distribution of AVMA Respondents' Desire to Change the Veterinary Sector in Which They Currently Work (if they

could) by Graduation Year (n=2,242)

No (n=639) Yes (n=127)

Page 305 of 577



Factors Affecting Desire to Change Current Veterinary Sector

A binary logit regression was performed on several factors that might affect a respondent’s

desire to change the veterinary sector in which they work where 1=yes, a respondent would

change the veterinary sector in which they work if they could, and 0=no, if they would not if

they could. Factors that were used to attempt to explain a respondent’s desire to change their

veterinary sector were year of graduation, gender, practice ownership, full-time employment,

emergency and regular hours worked, change geographic location, relocate for better career

opportunities, satisfaction with current employment, satisfaction with compensation,

satisfaction with profession satisfaction with lifestyle, home ownership, and number of children

in household, and not married. Additionally, the variable of whether respondents would remain

employed with their current employer over the next five years and primary equine sector was

included in the AAEP sample.

The main measure to observe is whether the coefficient is positive or negative. The positive or

negative sign will indicate the direction of the relationship (i.e., negative is more likely to not

change veterinary sectors if they could and positive is a respondent would change veterinary

sectors if they could).

Factors that significantly contribute to predictive ability of the model would have a p-value of

.10 or less in the column labeled “Sig.” The “Odds Ratio” column presents the odds for each of

the independent variables that the event would occur (assuming respondents could change

veterinary sectors).

Results for AAEP respondents (Table 81) show a positive relationship between regular hours

worked during the work week, the desire to change geographic location, and Standardbred

racing with a desire to change veterinary sectors. For every one-unit increase in regular hours

worked for Equine respondents, the odds of desire to change veterinary sectors versus not

Page 306 of 577



changing veterinary sectors is 1.04 greater, given all other variables are held constant. For

respondents who desire to change their geographic location versus those who do not desire to

change their geographic location, the odds of desire to change veterinary sectors versus not

change veterinary sectors is 2.68 greater, given all other variables are held constant (1.51

greater in the AVMA model). For respondents in Standardbred racing versus the general equine

sector, the odds of desire to change veterinary sectors versus not changing veterinary sectors is

9.79 greater, given all other variables are held constant.

Variables that had a negative relationship with the desire to change veterinary sector were

practice ownership, emergency hours worked per week, and satisfaction with the profession.

For every one-unit increase in emergency hours worked for AAEP respondents, the odds of

desire to change veterinary sectors versus not changing veterinary sectors is .06 lower, holding

all other variables constant. The odds of desire of AAEP respondents changing veterinary

sectors decreases by a factor of .64 if they own a practice (versus those who do not), given

other variables are held constant in the model. For respondents who are more satisfied with

the veterinary profession as a whole versus the combined effect of other levels of satisfaction,

the odds are .33 lower than those less satisfied (.23 in the AVMA model), given all the other

variables are held constant.

In the AVMA model, positive significant variables were gender, change geographic location,

relocate, and children in the household. Negative significant variables were satisfaction with

current employment, satisfaction with profession, and satisfaction with lifestyle.

Table 81: Factors Affecting Respondents’ Desire to Change Current Veterinary Sector (if they could)

AAEP Coefficient Std. Error Sig. Odds Ratio

Gender (Female=1) 0.394 0.406 0.33 1.48 Graduation Year -0.020 0.019 0.28 0.98 Practice Ownership (Yes=1) -1.019 0.464 0.03** 0.36

Page 307 of 577



Satisfaction with current employment (5=Extremely satisfied/1=Not at all satisfied)

-0.380 0.241 0.11 0.68

Remain Employed (5=Extremely likely/1=Not at all likely)

-0.205 0.175 0.24 0.81

Full-Time (Yes=1) -1.405 0.901 0.12 0.25 Emergency hours worked -0.061 0.027 0.02** 0.94 Regular hours worked 0.043 0.017 0.01*** 1.04 Change geographic location (Yes=1) 0.987 0.368 0.01*** 2.68 Relocate (Yes=1) -0.333 0.402 0.41 0.72 Satisfaction with compensation (5=Extremely satisfied/1=Not at all satisfied)

-0.194 0.132 0.14 0.82

Satisfaction with profession (5=Extremely satisfied/1=Not at all satisfied)

-0.408 0.134 0.00*** 0.67

Satisfaction with lifestyle (5=Extremely satisfied/1=Not at all satisfied)

-0.227 0.146 0.12 0.80

Housing - own (baseline) Omitted Housing - rent -0.089 0.465 0.85 0.91 Housing - other 0.227 1.015 0.82 1.26 Not Married (Yes=1) -0.095 0.401 0.81 0.91 Children (Yes=1) -0.069 0.124 0.58 0.93 General equine (baseline) Omitted English performance -0.333 0.519 0.52 0.72 Companion 0.445 0.605 0.46 1.56 Standardbred racing 2.281 1.187 0.06* 9.79 Thoroughbred racing -1.961 1.211 0.11 0.14 Reproductive 0.100 0.692 0.89 1.11 Western performance 0.617 0.976 0.53 1.85 Constant 5.154 1.520 0.00*** 173.09

Observations 445




Page 308 of 577



Note: Ranch/working equine sector was omitted because the variable did not permit estimation.


Gender (Female=1) 0.360 0.168 0.03** 1.43 Graduation Year -0.007 0.009 0.40 0.99 Practice Ownership (Yes=1) -0.174 0.204 0.40 0.84 Satisfaction with current employment (5=Extremely satisfied/1=Not at all satisfied)

-0.516 0.089 0.00*** 0.60

Full-Time (Yes=1) -0.114 0.290 0.69 0.89 Emergency hours worked 0.001 0.007 0.92 1.00 Regular hours worked 0.002 0.006 0.74 1.00 Change geographic location (Yes=1) 0.410 0.143 0.00*** 1.51 Relocate (Yes=1) 0.462 0.151 0.00*** 1.59 Satisfaction with compensation (5=Extremely satisfied/1=Not at all satisfied)

0.077 0.054 0.16 1.08

Satisfaction with profession (5=Extremely satisfied/1=Not at all satisfied)

-0.260 0.053 0.00*** 0.77

Satisfaction with lifestyle (5=Extremely satisfied/1=Not at all satisfied)

-0.106 0.060 0.08* 0.90

Housing - own (baseline) Omitted Housing - rent 0.252 0.172 0.14 1.29 Housing - other -0.136 0.445 0.76 0.87 Not Married (Yes=1) -0.154 0.166 0.36 0.86 Children (Yes=1) 0.342 0.164 0.04** 1.41 Constant 1.503 0.495 0.00*** 4.50

Observations 1297




Page 309 of 577



Change Geographic Location

When asked if they would change the geographic location in which they worked if they could,

28.9 percent of Equine respondents indicated they would, while 35.5 percent of the AVMA

sample expressed a similar sentiment. About one-quarter of male Equine respondents and

nearly one-third of the females desired to change geographic location if they could.

Of the respondents who reported that they were not at all satisfied, to moderately satisfied

with their work, 47.1 percent of the Equine respondents (AVMA: 48.1 percent) would change

their work location if they could, while 21.7 percent would not (AVMA: 32.3 percent). For those

who reported they were very satisfied to extremely satisfied, 52.9 percent (AVMA: 51.9

percent) would change their work location if they could, while 78.3 percent would not (AVMA:

67.7 percent) (Figure 90).

3.3% 9.9%17.5%

35.4%37.8%

35.4%

40.5%17.5%

No (n=548) Yes (n=223)

% o

f Res

pond

ents

Change Work Geographic Location

Distribution of Equine Respondents’ Desire to Change the Geographic Location in Which They Currently Work (if they


Extremely satisfied

Very satisfied


Not too satisfied


Page 310 of 577



Figure 90: Distribution of Equine and AVMA Respondents’ Desire to Change the Geographic Location in Which They Currently Work (if they could) by Current Employment Satisfaction

For both the Equine and AVMA responses concerning changing, if they could, the geographic

location in which they worked, the distribution of percentage of respondents by the year they

graduated illustrates an increasing desire to change geographic location the more recent the

respondent’s graduation year (Figure 91).

26.6%35.4%

40.8%

38.6%

26.9%13.4%

No (n=1,445) Yes (n=830)

% o

f Res

pond

ents

Change Work Geographic Location

Distribution of AVMA Respondents' Desire to Change the Geographic Location in Which They Currently Work (if they


Extremely satisfied

Very satisfied


Not too satisfied


Page 311 of 577



Figure 91: Distribution of Equine and AVMA Respondents’ Desire to Change the Geographic Location in Which They Currently Work (if they could) by Graduation Year

27.1%25.8%19.9%

13.1%10.0%3.6%0.5%

% o

f Res

pond

ents

Year of Graduation

Distribution of Equine Respondents’ Desire to Change the Geographic Location in Which They Currently Work

(if they could) by Graduation Year (n=765)

No Yes

31.0%

20.3%26.6%

16.3%

3.8%1.8%0.2%

% o

f Res

pond

ents

Year of Graduation

Distribution of AVMA Respondents’ Desire to Change the Geographic Location in Which They Currently Work

(if they could) by Graduation Year (n=2,243)

No Yes

Page 312 of 577



Factors Affecting Desire to Change Current Geographic Work Location

A binary logit regression was performed on several factors that might affect respondents’

desire to change the geographic location in which they work if they could, where 1=yes, a

respondent does want to change the geographic location in which they work if they could, and

0=no, a respondent does not want to change geographic location if they could. Factors that

were used to attempt to explain a respondent wanting to change geographic location are year

of graduation, gender and practice ownership, satisfaction with current employment, full-time

employment, emergency and regular hours worked, desire to change current sector, relocate

for better career opportunities, satisfaction with compensation, satisfaction with the veterinary

profession, satisfaction with current lifestyle, home ownership, number of children in

household, and marital status. Additionally, the variable of whether respondents would remain

employed with their current employer over the next five years was included in the AAEP sample

calculation.

The main measure to observe is whether the coefficient is positive or negative. This will indicate

the direction of the relationship (i.e., negative is more likely to not change geographic location

if they could and positive indicates would change geographic location if they could).


.10 or less in the column labeled “Sig.” The “Odds Ratio” column lists the ratio of odds that the

event would occur for each of the independent variables (assuming that respondents could

change geographic location).

Results in Table 82 for the AAEP and AVMA respondents show a positive association with a

desire to change current sector and to relocate for better career opportunities. For respondents

who desire to change the current sector in which they work versus those who do not, and have

Page 313 of 577



a desire to relocate for better career versus those who do not, the odds of desire to change

geographic location versus not change geographic location are greater by 2.09 and 6.08 for

AAEP respondents and 1.47 and 4.26 greater for AVMA respondents, given all the other

variables are held constant.

Negative association with a desire to change geographic location included the AAEP model

variables renting a home and some other type of living arrangement, and the AVMA model

variables satisfaction with current employment, and satisfaction with current lifestyle. What

these negative associations mean is that for AAEP respondents who rent or have some other

type of living arrangement (versus those who own a home), the odds of desire to change

geographic location versus not change location are .57 and .89 lower, given all the other

variables are held constant. For AVMA respondents who are more satisfied with their current

employment versus the combined effect of other levels of satisfaction, the odds of desire to

change geographic location versus not changing geographic location are .18 lower, and for

respondents who are more satisfied with their current lifestyle versus the combined effect of

other levels of satisfaction, the odds of desire to change geograhic location versus not change

geographic location are .24 lower, given all the other variables are held constant.

Page 314 of 577



Table 82: Factors Affecting a Respondents’ Desire to Change the Geographic Location Where They Work


Gender (Female=1) -0.195 0.257 0.53 0.82 Graduation Year -0.018 0.015 0.24 0.98 Practice Ownership (Yes=1) -0.173 0.296 0.62 0.84 Satisfied with current employment (5=Extremely satisfied/1=Not at all satisfied)

-0.141 0.174 0.48 0.87

Remain Employed (5=Extremely likely/1=Not at all likely)

-0.229 0.112 0.11 0.80

Full-Time (Yes=1) 0.394 1.119 0.60 1.48 Emergency hours worked per week 0.003 0.005 0.54 1.00 Regular hours worked per week -0.017 0.013 0.18 0.98 Change current sector (Yes=1) 0.736 0.723 0.03** 2.09 Relocate for better career opportunities (Yes=1)

1.806 1.748 0.00*** 6.08

Satisfied with compensation (5=Extremely satisfied/1=Not at all satisfied)

0.032 0.104 0.75 1.03

Satisfied with profession (5=Extremely satisfied/1=Not at all satisfied)

-0.064 0.101 0.55 0.94

Satisfied with lifestyle (5=Extremely satisfied/1=Not at all satisfied)

-0.138 0.100 0.23 0.87

Housing - own (baseline) Omitted Housing - rent -0.854 0.154 0.02** 0.43 Housing - other -2.179 0.131 0.06* 0.11 Children (Yes=1) -0.306 0.215 0.30 0.74 Not Married (Yes=1) 0.453 0.482 0.14 1.57 Constant 1.387 5.156 0.28 4.00

Observations 453




Page 315 of 577




Gender (Female=1) 0.173 0.158 0.28 1.19 Graduation Year 0.009 0.008 0.28 1.01 Practice Ownership (Yes=1) 0.268 0.192 0.16 1.31 Satisfied with current employment (5=Extremely satisfied/1=Not at all satisfied)

-0.203 0.087 0.02** 0.82

Full-Time (Yes=1) -0.057 0.284 0.84 0.94 Emergency hours worked per week -0.011 0.007 0.13 0.99 Regular hours worked per week -0.007 0.006 0.28 0.99 Change current sector (Yes=1) 0.385 0.145 0.01*** 1.47 Relocate for better career opportunities (Yes=1)

1.449 0.143 0.00*** 4.26

Satisfied with compensation (5=Extremely satisfied/1=Not at all satisfied)

0.054 0.052 0.30 1.06

Satisfied with profession (5=Extremely satisfied/1=Not at all satisfied)

0.017 0.051 0.74 1.02

Satisfied with lifestyle (5=Extremely satisfied/1=Not at all satisfied)

-0.276 0.059 0.00*** 0.76

Housing - own (baseline) Omitted Housing - rent 0.226 0.167 0.18 1.25 Housing - other 0.452 0.417 0.28 1.57 Children (Yes=1) -0.018 0.159 0.91 0.98 Not Married (Yes=1) -0.181 0.159 0.26 0.83 Constant 0.338 0.482 0.48 1.40

Observations 1,297




Page 316 of 577



Relocation

Respondents indicated that they were relatively open to making a move to improve their

prospects: 51.4 percent of Equine respondents (AVMA: 46.2 percent) were willing to relocate

for better career opportunities; 42.9 percent of males and 57.6 percent of females were willing

to relocate in the Equine sample compared to 42.1 percent of males and 48.6 percent of

females in the AVMA sample. As shown in Figure 92, a majority of respondents in both surveys

expressed that they were willing to relocate to wherever jobs could be found (Equine: 74.7

percent; AVMA: 81.7 percent).

Figure 92: Distribution of Equine and AVMA Respondents’ Number of Miles They Are Willing to Relocate for Better Career Opportunities

Note: The 2016 AVMA-AAEP Equine Survey of Practitioners had one extra category, “Up to 500

miles,” whereas the 2016 AVMA Census of Veterinarians did not.

Practice size preferences were also examined in the survey, which found that among Equine

respondents, 67.3 percent preferred no change (AVMA: 72.9 percent) to the size of their

Up to 25miles

Up to 50miles

Up to 100miles

Up to 500miles

Whereverthe jobs

areEquine (n=396) 2.3% 2.0% 8.1% 12.9% 74.7%AVMA (n=1,173) 4.4% 5.1% 8.8% 0.0% 81.7%

% o

f Res

pond

ents

Number of Miles

Distribution of Respondents' Number of Miles They Are Willing to Relocate for Better Career Opportunities

Page 317 of 577



workplace; 25.5 percent would prefer a larger size workplace (AVMA: 19.2 percent), and 7.2

percent a smaller size workplace (AVMA: 8.0 percent).

In both the Equine and AVMA sample, those who graduated more recently indicated that they

preferred a larger workplace. The percentage of respondents who reported this preference

increased in a linear fashion with decreasing level of experience (fewer years from graduation)

(Figure 93). More than half of all respondents in each graduation category reported wanting no

change in practice size. Approximately 10 percent of respondents, those who graduated from

1967-1976 and 2012-2016, preferred a smaller workplace. 100 percent of Equine respondents

who graduated prior to 1967 preferred no change to the size of the workplace.

9.6%6.0%4.8%8.0%7.4%10.2%

56.6%59.6%69.9%71.5%76.2%75.5%100.0%

33.8%34.3%25.3%20.4%16.4%14.3%

2012-20162007-20111997-20061987-19961977-19861967-1976< 1967

% o

f Res

pond

ents

Year of Graduation

Distribution of Equine Respondents' Preferred Workplace Size by Graduation Year

Prefer smaller work place (n=55) Prefer no change (n=515)

Prefer larger work place (n=195)

Page 318 of 577



Figure 93: Distribution of Equine and AVMA Respondents’ Preferred Workplace Size by Graduation Year

When considering the size of community, 12.8 percent of Equine respondents and 9.3 percent

of AVMA respondents indicated that they would prefer a smaller community. Those who

preferred a larger community included 11.1 percent of Equine respondents and 15.4 percent of

AVMA respondents. More than three-quarters of respondents in both samples were content

with the size of community in which they currently work and preferred no change.

When looking at community size preference by gender, about 75 percent of both samples and

genders preferred no change in community size (Figure 94). However, 16.6 percent of Equine

males and 10.1 percent of Equine females preferred a smaller community compared to 11.1

percent of AVMA males and 8.3 percent of AVMA females. At the other end of the spectrum,

7.5 percent of Equine males and 13.7 percent of Equine females preferred a larger community,

compared to 15.4 percent for both male and female AVMA respondents.

8.4%5.9%8.9%10.0%5.2%8.2%

69.0%75.8%71.6%71.2%82.4%82.0%93.3%

22.6%18.3%19.5%18.8%12.4%9.8%6.7%

2012-20162007-20111997-20061987-19961977-19861967-1976< 1967

% o

f Res

pond

ents

Year of Graduation

Distribution of AVMA Respondents' Preferred Workplace Size by Graduation Year

Prefer smaller work place( n=178) Prefer no change( n=1,632)

Prefer larger work place (n=428)

Page 319 of 577



Figure 94: Distribution of Equine and AVMA Respondents’ Preference for Community Size by Gender

16.6% 10.1% 11.1% 8.3%

75.9% 76.2% 73.4% 76.4%

7.5% 13.7% 15.4% 15.4%



AVMA - Male(n=629)

AVMA - Female(n=1,523)

% o

f Res

pode

nts

Gender

Distribution of Respondents' Preference for Community Size by Gender

Prefer smaller community Prefer no change Prefer larger community

Page 320 of 577



4.5.4 Retirement

At the time this survey was conducted, 60 Equine respondents (6.6 percent) and 152 AVMA

respondents (6.0 percent) were retired. 72.9 percent of these Equine respondents retired in the

past five years. The largest proportion of retired AVMA sample respondents, 40.9 percent, left

their work in clinical veterinary medicine more than 11 years ago (Figure 95).

Figure 95: Distribution of Equine and AVMA Respondents Who Retired with Respect to Number of Years since Retirement

The difference between the current ages of respondents and their reported expected age of

retirement indicates that, among the AVMA sample, the largest number (30.7 percent) planned

to retire in 31 to 40 years while the Equine sample reflected a steady rate of expected

retirement over the next four decades (Figure 96).

6.8%

40.9%20.3%

27.3%72.9%

31.8%


% o

f Res

pond

ents

Years Since Retirement

Distribution of Respondents' Who Retired with Respect to Number of Years since Retirement

0-5 years

6-10 years

11 + years

Page 321 of 577



Figure 96: Distribution of Equine and AVMA Respondents’ Anticipated Years to Retirement

Respondents were asked about retirement decisions. Both samples revealed that the majority

of respondents retired from clinical veterinary medicine on or around their anticipated time

frame. However, only 50.8 percent of Equine respondents retired on or around their

anticipated time frame (AVMA: 71.8 percent) while 32.2 percent retired from clinical veterinary

medicine earlier than anticipated (AVMA: 18.5 percent) (Table 83).

Table 83: Distribution of Equine and AVMA Respondents’ Retirement Choice

Retirement Choice Equine (n=59) AVMA (n=124)

Retired earlier from clinical veterinary medicine than anticipated

32.2% 18.5%

Delayed retirement from clinical veterinary medicine to timeframe later than anticipated

16.9% 9.7%

Retired from clinical veterinary medicine on or around anticipated time frame

50.8% 71.8%

Total 100.0% 100.0%

0-10 years 11-20years

21-30years

31-40years

40 years ormore

Equine (n=724) 23.5% 20.0% 27.4% 25.7% 3.5%AVMA (n=2,061) 16.0% 19.1% 28.3% 30.7% 6.0%

% o

f Res

pond

ents

Anticipated Years to Retirement

Distribution of Respondents' Anticipated Years to Retirement

Page 322 of 577



The 19 Equine respondents and 23 AVMA respondents who reported retiring from clinical

veterinary medicine earlier than anticipated were asked ranking questions relative to possible

reasons for doing so: 1, not relevant at all, 2, slightly relevant, 3, moderately relevant, 4, very

relevant, and 5, extremely relevant.

Equine respondents reported an average 3.05 ranking for “improve work-life balance,” and a

3.00 ranking for “stress level” the two highest ranking reasons for retiring early from equine

clinical veterinary medicine (Table 84). AVMA respondents reported an average of 4.38, “for

other reasons,” and 3.19 for “improve work-life balance.”

Table 84: Distribution of Equine and AVMA Respondents’ Reasons for Retiring Earlier from Clinical Veterinary Medicine than Anticipated

Equine - Reasons for Retiring Early Obs. Mean Std. Dev. Min. Max.

Career advancement in another field 19 1.37 1.12 1 5 Dwindling clientele 19 1.16 0.37 1 2 Health-related, caused by wear and tear of profession 19 2.47 1.54 1 5 Other health-related issue 19 1.84 1.57 1 5 Improve work-life balance 19 3.05 1.43 1 5 Lack of satisfaction with the work 19 2.47 1.54 1 5 Money or benefits gained from retirement 19 1.47 0.96 1 4 Stress level 19 3.00 1.53 1 5 Travel requirements too demanding 19 1.42 1.02 1 5 Other 5 2.40 1.95 1 5

Page 323 of 577



AVMA - Reasons for Retiring Early Obs. Mean Std. Dev.

Min. Max.

Career advancement in another field 21 1.24 0.62 1 3 Dwindling clientele 21 1.00 0.00 1 1 Health-related, caused by wear and tear of profession

21 2.24 1.67 1 5

Other health-related issue 21 1.90 1.58 1 5 Improve work-life balance 21 3.19 1.50 1 5 Lack of satisfaction with the work 21 1.90 1.37 1 5 Money or benefits gained from retirement 22 2.32 1.76 1 5 Stress level 20 2.35 1.50 1 5 Travel requirements too demanding 21 1.38 1.02 1 5 Other 8 4.38 1.41 1 5

The 10 Equine respondents and 12 AVMA respondents who reported that they delayed their

retirement from clinical veterinary medicine to a time frame later than anticipated were asked

ranking questions relative to potential reasons for their decision: 1, not relevant at all, 2,

slightly relevant, 3, moderately relevant, 4, very relevant, and 5, extremely relevant.

Equine respondents’ three reasons most attributed to delaying retirement were “enjoyment of

work,” with an average rank of 2.90, “other reason,” with an average rank of 2.75, and “need

for general income,” 2.40 (Table 85). The three reasons most attributed for AVMA respondents

were “other reasons,”( 4.50), “enjoyment of work,” (4.08) and “need for general income”

(2.73).

Page 324 of 577



Table 85: Distribution of Equine and AVMA Respondents’ Reasons for Delaying Their Retirement

Equine - Reasons for Delaying Retirement Obs. Mean Std. Dev. Min Max

Need for medical insurance 10 2.20 1.32 1 5 Unable to sell practice 10 2.00 1.63 1 5 Lack of veterinary options for existing clientele 10 1.60 1.26 1 4 Need for general income 10 2.40 1.35 1 5 Enjoyment of work 10 2.90 1.52 1 5 Other 4 2.75 1.50 1 4

AVMA - Reasons for Delaying Retirement Obs. Mean Std. Dev. Min. Max.

Need for medical insurance 9 2.00 0.87 1 3 Need for general income 11 2.73 1.10 1 4 Enjoyment of work 12 4.08 0.67 3 5 Other 2 4.50 0.71 4 5

Note: The 2016 AVMA-AAEP Survey of Equine Practitioners provided more reasons to select

from for delaying retirement then the 2016 AVMA Census of Veterinarians

4.6 EQUINE VETERINARY PROFESSION UNEMPLOYMENT

In 2015, 2.4 percent of Equine respondents were unemployed in clinical veterinary medicine at

some point that year. Of the 2.4 percent respondents, 35.3 percent of them found a job within

one month, 29.4 percent found a job between three to six months after beginning a job search,

and 35.3 percent found work within a year.

Equine respondents were asked how many periods of isolated unemployment they had over

the course of their career, and 19.4 percent said they had periods of isolated unemployment at

some point in their career. The majority of equine respondents who had periods of isolated

unemployment over their career had only one period of isolated unemployment (69.4 percent).

Page 325 of 577




Of the Equine respondents who were currently unemployed and who indicated their year of

graduation, five respondents graduated during the years 2012-2016 (AVMA: 17 respondents),

five respondents during the years 2007-2011 (AVMA: 23 respondents), one respondent during

the years 1997-2006 (AVMA: 27 respondents), and one respondent during the years 1987-1996

(AVMA: 13 respondents). In addition, seven AVMA respondents who are currently unemployed

graduated prior to 1996 (Figure 97).

Figure 97: Distribution of Unemployed Equine and AVMA Respondents by Graduation Year

1 15 5

1 15

13

2723

17

< 1967 1967-1976 1977-1986 1987-1996 1997-2006 2007-2011 2012-2016

# of

Res

pond

ents

Year of Graduation

Distribution of Unemployed Respondents by Graduation Year


Page 326 of 577



Of the Equine respondents who indicated that they were unemployed, eight respondents were

seeking employment in veterinary medicine, two respondents were seeking enrollment in

advanced education, and four respondents were currently not seeking employment or

enrollment (Figure 98). In contrast, 33 of the unemployed AVMA respondents were seeking

employment in veterinary medicine, 11 respondents were seeking enrollment in advanced

education, and 68 respondents were not seeking any employment or enrollment.

Figure 98: Distribution of Unemployed Equine and AVMA Respondents by Type of Employment/Enrollment Area They Are Seeking

82 4

33

11

68

Seeking employment inveterinary medicine

Seeking enrollment inadvanced education

Not seeking employmentor enrollment

% o

f Res

pond

ents

Area of Employment

Distribution of Unemployed Respondents by Type of Employment/Enrollment Area They Are Seeking


Page 327 of 577



Seven out of eight unemployed Equine respondents who were currently seeking employment in

veterinary medicine were seeking work in private practice, while one respondent reported

looking for work in the industry/commercial sector. The majority of unemployed AVMA

respondents were primarily seeking work in a mixed animal practice (three respondents) or

companion animal practice (21 respondents) (Table 86).

Table 86: Distribution of Equine and AVMA Respondents’ Type of Employment They Are Primarily Seeking

Type of Employment Seeking Equine AVMA

Mixed practice (at least 25 percent food or equine)

2 3

Companion animal practice 2 21 Equine practice 3 0 Federal Government (civil service) 0 1 College or University (Faculty or staff only)

0 1

State/Local government 0 2 Industry/commercial organizations 1 1 Not-for-profit organizations 0 1 Other 0 3 Total 8 33

Page 328 of 577



4.6.2 Factors Affecting Unemployment

Using a binary logit model, multiple factors are examined for their potential impact on

unemployment, but given the low number of observations (14 unemployed respondents) the

results are only as reliable to the extent that the sample represents the population (Table 87).

A binary logit measures the relationship between the variable of interest (dependent variable)

and the mathematically computed factors (independent variables) hypothesized to affect the

variable of interest. In the binary logistic regression, however, the dependent variable has only

two values (1=yes, 0=no) and the relationship measured is the probability of the dependent

variable occurring when the factor occurs. The dependent variable value of 1 was assigned to

veterinarians who were unemployed, and a value of 0 was assigned if they were employed.

Independent variables that were used to attempt to explain the probability of unemployment

included age, board certification, residency and internship participation, veterinary educational

debt, home ownership, and marital status.

In the table, the coefficients presented are used to calculate the probability of an individual

respondent falling into a specific category (unemployed or employed). The main objective is to

observe whether the coefficient is positive or negative. The answer will indicate the direction of

the relationship (i.e., negative is more likely to predict employment and positive is more likely

to predict unemployment).

Variables that significantly contribute to the predictive ability of the model have a p-value of .10

or less in the column labeled “Sig.” Variables that are significant at the 10, 5 and 1 percent level

are reported in explaining the factors affecting unemployment of respondents. The “Odds

Ratio” column is the odds ratio for each of the independent variables and is defined as “the

change in odds of being in one of the categories of outcome (unemployed or employed) when

Page 329 of 577



the value of one of the independent variables (predictors) increases by one point.”40 To

interpret the odds ratio, the odds ratio value is subtracted by one to obtain the likelihood of the

event occurring given all the other variables are held constant.

Results in the Equine sample show that, for a one-unit increase in age, the odds of being

unemployed versus being employed is .16 lower, given all other variables are held constant. For

every dollar increase in Equine respondent veterinary educational debt, the odds of being

unemployed versus unemployed has essentially no effect, given all the other variables are held

constant. Equine respondents who participated in an internship versus those who did not

participate in an internship have .85 lower odds of being unemployed than employed, given all

other variables are held constant. For Equine respondents who have some other type of living

arrangement, the odds of being unemployed versus employed is 27.51 greater than

respondents who own a house, given all the other variables are held constant. The AVMA

model shows a positive association with being not married in that respondents who are

unemployed versus employed, the odds of being not married versus married is 2.21 greater,

given all the other variables are held constant.


Page 330 of 577



Table 87: Factors Affecting Unemployment


Age -0.176 0.073 0.016** 0.84 Board Certified (Yes=1) 2.221 2.257 0.325 8.96 DVM Debt 0.000 0.000 0.062* 1.00 Internship (Yes=1) -1.791 0.849 0.035** 0.15 Residency (Yes=1) -0.421 2.227 0.850 0.67 Housing - own (baseline) Omitted Housing - rent 0.064 1.064 0.952 1.14 Housing - other 3.318 1.004 0.001*** 27.51 Not Married (Yes=1) 0.521 0.839 0.535 1.65 Constant 3.137 2.783 0.260 27.28

Observations 605





Age 0.011 0.018 0.52 1.01 Board Certified (Yes=1) -1.603 1.007 0.11 0.20 DVM Debt 0.000 0.000 0.85 1.00 Internship (Yes=1) 0.448 0.339 0.19 1.57 Residency (Yes=1) 0.183 0.854 0.83 1.20 Housing - own (baseline) Omitted Housing - rent 0.218 0.378 0.56 1.24 Housing - other 0.830 0.660 0.21 2.29 Not Married (Yes=1) 0.793 0.316 0.01** 2.21 Constant -4.440 0.884 0.00*** 0.01

Observations 1,798




Page 331 of 577



4.7 EQUINE VETERINARY PROFESSION UNDEREMPLOYMENT

Underemployment is defined as the measure of a person’s desire and ability to increase one’s

hours spent working. The desire and ability to increase one’s working hours is often

unattainable due to a lack of demand for one’s services, hence the status is termed

“underemployment.” The level of underemployment provides a piece of information about the

health of the labor market for veterinarians. Underemployment can be caused by people not

being able to work as many hours as they would like, or by workers accepting employment

below their skill level. In this survey, underemployment represents the number of additional

hours that veterinarians desire to work above what they are currently working. Measured in

total hours, underemployment reflects the increase or decrease in weekly hours that one

wishes to work for an equivalent increase/decrease in compensation. Figure 99 presents the

number of observations (and percentage) from both the Equine and AVMA samples of those

who state a preference to work more hours for an increase in compensation, fewer hours for a

decrease in compensation, or to work the same number of hours per week for the same

amount of compensation.

Among Equine respondents, 60 percent stated they would work, if they could, the same

number of hours per week as they are currently working with no change to their current level

of total compensation (AVMA: 65.8 percent), 16.8 percent wish to work more hours per week

than they do now, for a higher level of total compensation (AVMA: 12.0 percent), and 23.2

percent wish to work fewer hours per week for a lower level of total compensation (AVMA:


Page 332 of 577



Figure 99: Distribution of Equine and AVMA Respondents’ Preference in Work Hours

By gender, 25.3 percent of female (AVMA: 23.9 percent) and 19.9 percent of male (AVMA: 18.6

percent) Equine respondents wish to work fewer hours for less compensation. Of those wishing

to work more hours for greater compensation, 16.5 percent of Equine sample females (AVMA:

12.5 percent) and 17.7 percent of Equine males (AVMA: 11.7 percent) indicated a preference

for this option (Figure 100).

23.2%

60.0%

16.8%22.2%

65.8%

12.0%

0.0%10.0%20.0%30.0%40.0%50.0%60.0%70.0%

Work fewer hours perweek

Work the samenumber of hours per

week

Work more hours perweek

% o

f Res

pond

ents

Work Hour Preference

Distribution of Respondents' Preference in Work Hours


178

178

497 1,477459 129 270

Page 333 of 577



Figure 100: Distribution of Equine and AVMA Respondents’ Preference in Hours Worked by Gender

Except for Region 3 and Region 8 (Mountain States) in the Equine sample, all regions in both the

equine and AVMA survey have a greater percentage of veterinarians who wish to work fewer

hours per week than those who wish to work more hours per week (Table 88).

Table 88: Distribution of Equine and AVMA Respondents’ Work Preference by Work Region


Work Region Fewer Hours More Hours Fewer Hours More Hours Region 0 25.0% 18.8% 21.2% 11.3% Region 1 25.8% 12.1% 26.5% 12.2% Region 2 22.8% 20.3% 19.8% 11.5% Region 3 11.8% 25.9% 18.8% 17.3% Region 4 26.9% 9.0% 25.1% 7.5% Region 5 34.0% 8.0% 28.5% 13.2% Region 6 22.9% 16.7% 20.4% 11.5% Region 7 23.7% 9.2% 21.7% 11.1% Region 8 21.0% 22.2% 22.3% 13.3% Region 9 21.7% 19.8% 22.0% 9.6%

25.3% 19.9% 23.9% 18.6%

58.1% 62.5% 63.7% 69.7%

16.5% 17.7% 12.5% 11.7%



AVMA - Female(n=1,500)

AVMA - Male(n=624)

% o

f Res

pond

ents

Work Hour Preference

Distribution of Respondents' Preference in Hours Worked by Gender

Work fewer hours No change Work more hours

Page 334 of 577



The distribution of hours currently worked per week by Equine and AVMA respondents who

wish no change in the number of hours worked per week and those who wish to change the

hours they currently work (either increasing or decreasing their current work hours) are

dispalyed in Figure 101. Almost 30 percent of Equine respondents who worked 50-59 hours per

week desired no change, and 30 percent of these respondents who worked 50-59 hours did

desire a change. There was a higher percentage of Equine respondents who desired a change to

their current work hours than respondents who desired no change if the respondents reported

working more than 60 hours a week (more than 50 hours in the AVMA sample).

0.0%5.0%

10.0%15.0%20.0%25.0%30.0%35.0%

0-9 10-19 20-29 30-39 40-49 50-59 60-69 70-79 80 +

% o

f Res

pond

ents

Hours Per Week

Distribution of Equine Respondents' Current Hours Worked and Desire to Change Hours Worked

No Change (n=355) Desire Change (n=249)

Page 335 of 577



Figure 101: Distribution of Equine and AVMA Respondents’ Current Hours Worked and Desire to Change Hours Worked

To determine the average number of hours that respondents desired to increase or decrease

their working time relative to their current hours, survey subjects were asked the number of

hours by which they desired to change per week; responses are depicted in Figure 102. If a

respondent said they did not wish to change their work hours, they were not included in this

graph. Of respondents who desired a decrease in work hours, both samples had a majority of

respondents who preferred a decrease of 10 to 19 hours relative to their current schedule

(Equine 67.1 percent, AVMA 66.5 percent). There was little difference seen between male and

female respondents who desired to decrease their work hours by 10 to 19 hours (Equine male:

31.1 percent and Equine female: 36.0 percent; AVMA male: 34.1 percent and AVMA female:

32.4 percent). Of those who desired more hours, a sizeable proportion of Equine respondents

(both male and female), indicated a preference for an increase of 10 to 19 hours per week

(male: 23.5 percent; female: 19.7 percent). A smaller number of the AVMA sample, 13.0

percent of females and 14.6 percent of males, desired an increase in their work hours of 10 to

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

0-9 10-19 20-29 30-39 40-49 50-59 60-69 70-79 80 +

% o

f Res

pond

ents

Hours Per Week

Distribution of AVMA Respondents' Current Hours Worked and Desire to Change Hours Worked

No Change (n=1,463) Desire Change (n=792)

Page 336 of 577



19 hours; 11.7 percent of AVMA females and 14.6 percent of AVMA males desired to increase

their work hours by one to nine hours.

Figure 102: Distribution of Equine and AVMA Respondents’ Change in Hours Desired by Gender

0.0%

10.0%

20.0%

30.0%

40.0%

% o

f Res

pond

ents

Desired Change In Hours

Distribution of Equine Respondents' Change in Hours Desired by Gender

Female (n=178) Male (n=119)

0.0%

10.0%

20.0%

30.0%

40.0%

% o

f Res

pond

ents

Desired Change In Hours

Distribution of AVMA Respondents' Change in Hours Desired by Gender

Female (n=531) Male (n=185)

Page 337 of 577



As reported by the respondents who desired a change in their hourly work week (fewer or

more hours), the most frequent average hourly work week desired by the men and women in

the Equine sample was between 40 to 49 hours (male: 21.4 percent; female: 27.7 percent).

More than one-fifth (22.6 percent) of female Equine respondents indicated a desire for a 50 to

59 hour work week compared to 16.3 percent of Equine male respondents, and 14.3 percent of

male Equine respondents desired a 30 to 39 hour work week compared to 8.8 percent of

female Equine respondents. In contrast, 30.3 percent of female AVMA respondents reported a

desire for a 30 to 39 hour work week compared to 20.3 percent of male AVMA respondents and

36.3 percent of male AVMA respondents desired a 40 to 49 hours work week compared to 27.0

percent of female AVMA respondents (Figure 103).

0.0%5.0%

10.0%15.0%20.0%25.0%30.0%

% o

f Res

pond

ents

Current Hours Plus Desired Change In Hours

Distribution of Equine Respondents' Net Hours Desired by Gender


Page 338 of 577



Figure 103: Distribution of Equine and AVMA Respondents’ Net Hours Desired by Gender

The distribution of the desired change in respondents’ hourly work week by number of years

since DVM/VMD graduation indicates that for female Equine respondents at the beginning of

their careers, an almost equal number want to work fewer hours as want to work more hours

(25.6 percent fewer hours and 23.1 percent more hours). AVMA female respondents display a

different pattern in their desired change in the hourly work week. While 25.3 percent of AVMA

female respondents within five years or fewer years since graduation desire to work fewer

hours, only 14.3 percent want to work more hours per week. The percent of female Equine

respondents who stated they wish to work more hours declines until the respondents are 20

years out from graduation, and then begins to increase, while the percent who wish to work

fewer hours is relatively stable across the post-graduate period until 40 years out (Figure 104).

0.0%5.0%

10.0%15.0%20.0%25.0%30.0%35.0%40.0%

% o

f Res

pond

ents

Current Hours Plus Desired Change In Hours

Distribution of AVMA Respondents' Net Hours Desired by Gender


Page 339 of 577



Figure 104: Distribution of Female Equine and AVMA Respondents’ Work Hour Preference by Number of Years since DVM/VMD Graduation

5 yearsout

10 yearsout

20 yearsout

30 yearsout

40 yearsout

Work fewer hours 25.6% 24.8% 25.5% 27.5% 20.7%Work more hours 23.1% 13.2% 11.7% 15.9% 20.7%

% o

f Res

pond

ents

Years Since DVM/VMD

Distribution of Female Equine Respondents' Work Hour Preference by Number of Years since DVM/VMD

Graduation (n=438)

5 yearsout

10 yearsout

20 yearsout

30 yearsout

40 yearsout

50 yearsout

Work fewer hours 25.3% 24.9% 22.4% 20.3% 34.5% 9.1%Work more hours 14.3% 10.9% 12.5% 10.2% 18.2% 9.1%

% o

f Res

pond

ents

Years Since DVM/VMD

Distribution of Female AVMA Respondents' Work Hour Preference by Number of Years since Graduation

(n=1,481)

Page 340 of 577



Looking at the desired change in respondents’ hourly work week by number of years since

DVM/VMD graduation for males, 44.4 percent of the Equine male respondents (AVMA males:

23.0 percent) who were five years out (or fewer) of veterinary school showed an increased

desire to work more hours and 22.2 percent desired fewer hours (AVMA males: 14.2 percent).

Males in the Equine sample, who graduated 20 years ago and 50 years ago, had approximately

a 15 percent greater desire to work fewer hours than to work more hours. Males in the AVMA

sample who graduated 30 years ago show a 15 percent difference in desire to work fewer hours

than desire to work more hours (Figure 105).

5 yearsout

10 yearsout

20 yearsout

30 yearsout

40 yearsout

50 yearsout

60 yearsout

Work fewer hours 22.2% 21.2% 21.6% 13.4% 19.6% 29.8% 0.0%Work more hours 44.4% 21.2% 7.8% 19.4% 16.3% 14.9% 16.7%

% o

f Res

pond

ents

Years Since DVM/VMD

Distribution of Male Equine Respondents' Work Hour Preference by Number of Years since DVM/VMD

Graduation (n=314)

Page 341 of 577



Figure 105: Distribution of Male Equine and AVMA Respondents’ Work Hour Preference by Number of Years since DVM/VMD Graduation

Respondents who would, or would not, change the number of hours they work were sorted by

their type of employment in Figure 106. Among Equine respondents, 41.1 percent in equine

exclusive practice and 34 percent in equine predominant practice would change the number of

hours worked per week (AVMA: 44.4 percent exclusive and predominant combined).

5 yearsout

10 yearsout

20 yearsout

30 yearsout

40 yearsout

50 yearsout

Work fewer hours 14.2% 18.0% 15.6% 23.5% 24.7% 12.2%Work more hours 23.0% 13.5% 8.5% 8.4% 5.4% 12.2%

% o

f Res

pond

ents

Years Since DVM/VMD

Distribution of Male AVMA Respondents' Work Hour Preference by Number of Years since DVM/VMD

Graduation(n=612)

Work fewer hours Work more hours

Page 342 of 577



Note: Not-for-profit, industry/commercial organization and state/local government were

removed because the number of observations did not permit estimation.

71.4%

35.4%

44.1%

55.6%

33.3%

36.4%

60.0%

34.0%

41.1%

28.6%

64.6%

55.9%

44.4%

66.7%

63.6%

40.0%

66.0%

58.9%

Other Veterinary Employment (n=7)

College or University (n=82)

Mixed Animal Practice (n=93)

Companion Animal Practice (Pred.) (n= 33)

Companion Animal Practice (Excl.) (n=9)

Food Animal Practice (Pred.) (n=11)

Food Animal Practice (Excl.) (n=5)

Equine Practice (Pred.) (n=97)

Equine Practice (Excl.) (n=423)

Work Preference

Type

of E

mpl

oym

ent

Distribution of Equine Respondents' Desired Work Hour Preference by Type of Employment

Would change Would not change

Page 343 of 577



Figure 106: Distribution of Equine and AVMA Respondents’ Desired Work Hour Preference by Type of Employment

When comparing practice owner versus non-practice owner Equine respondents, 23 percent of

practice owners preferred to work fewer hours per week (AVMA: 26.4 percent), 16.3 percent

would prefer more hours per week (AVMA: 9.0 percent), and 60.7 percent preferred no change

(AVMA: 64.6 percent). Of the non-practice owners among the Equine respondents, 23.1

23.1%

25.0%

48.3%

30.4%

18.6%

35.5%

19.3%

23.1%

34.5%

40.0%

37.1%

34.2%

34.8%

34.5%

44.4%

76.9%

75.0%

51.7%

69.6%

81.4%

64.5%

80.7%

76.9%

65.5%

60.0%

62.9%

65.8%

65.2%

65.5%

55.6%

Non-Veterinary Employment (n=13)

Other Veterinary Employment (n=76)

Advanced Education (n=60)

Not-for-profit Org. (n=69)

Industry/Commercial Org. (n=70)

State/Local Government (n=31)

Federal Government (n=57)

Uniformed Services (n=13)

College or University (n=174)

Mixed Animal Practice (n=120)

Companion Animal Practice (Pred.)(n=240)

Companion Animal Practice (Excl.) (n=1,182)

Food Animal Practice (Pred.) (n=23)

Food Animal Practice (Excl.) (n=29)

Equine Practice (n=81)

Work Preference

Type

of E

mpl

oym

ent

Distribution of AVMA Respondents' Desired Work Hour Preference by Type of Employment

Would change Would not change

Page 344 of 577



percent would prefer fewer hours (AVMA: 21.8 percent), 18.5 percent preferred more hours

(AVMA: 13.4 percent), and 58.4 percent preferred the same number of hours per week (AVMA:


Figure 107: Distribution of Equine and AVMA Respondents’ Work Preference — Practice Owners vs. Non-Practice Owners

Examining work preference by primary equine sector (Figure 108) found AAEP respondents in

the Quarter Horse racing sector reported wanting to work fewer hours a week (40.0 percent)

23.0% 16.3%

60.7%

23.1% 18.5%

58.4%

Would prefer fewerhours/week

Would prefer morehours/week

Would prefer the samehours/week

% o

f Res

pond

ents

Work Preference

Distribution of Equine Respondents' Work Preference — Practice Ownership

Practice Owner (n=326) Non-practice owner (n=281)

26.4%9.0%

64.6%

21.8%13.4%

64.8%

Would prefer fewerhours/week

Would prefer morehours/week

Would prefer the samehours/week

% o

f Res

pond

ents

Work Preference

Distribution of AVMA Respondents' Work Preference — Practice Ownership

Practice Owner (n=421) Non-practice owner (n=1,295)

Page 345 of 577



followed by respondents in the ranch/working sector (33.3 percent). Those in the

Thoroughbred racing sector had the smallest proportion wanting to work fewer hours, at 14.3

percent. Some AAEP respondents reported wanting to work more hours: 28.6 percent of

respondents working in the Standardbred racing sector wanted to. A substantial proportion of

Equine respondents polled in the Thoroughbred racing industry were satisfied with the amount

of time devoted to their work: 71.4 percent stated they did not prefer a change in the number

of hours worked per week. Comparatively, only 42.9 percent of respondents in the

Standardbred racing sector did not prefer any change in hours worked per week.

Figure 108: Distribution of AAEP Respondents’ Work Preference by Primary Equine Sector

19.5% 24.0%40.0% 28.6% 14.3% 23.3% 33.3% 31.3% 22.8%

64.6% 56.0%

60.0%

42.9% 71.4% 56.7% 44.4% 56.3% 59.8%

15.9% 20.0% 28.6% 14.3% 20.0% 22.2% 12.5% 17.4%

% o

f Res

pond

ents

Primary Equine Sector

Distribution of AAEP Respondents' Work Preference by Primary Equine Sector

Fewer hours per week No change in hours per week More hours per week

Page 346 of 577



When examining work preference by the type of business practice among Equine respondents

(Figure 109), respondents working in haul-in facilities (33.3 percent) and specialty/referral with

limited service with an ambulatory division (33.3 percent) had the highest percentage reporting

they wanted to work fewer hours per week. One-quarter (25 percent) of veterinarians in a

specialty/referral hospital with limited service preferred to work more hours per week. The

majority of ambulatory practice respondents wanted no change in the number of hours, while

22.9 percent preferred to work more hours per week.

Page 347 of 577



Figure 109: Distribution of AAEP Respondents’ Work Preference by Business Model

21.3% 22.0%33.3%

25.0%11.1%

33.3%25.0% 23.8%

55.9%65.1%

50.0%50.0%

66.7%

53.3%61.9% 61.9%

22.9%12.9% 16.7%

25.0% 22.2%13.3% 13.1% 14.3%

% o

f Res

pond

ents

Type of Business Model

Distribution of AAEP Respondents' Work Preference by Business Model

Fewer hours per week No change in hours per week More hours per week

Page 348 of 577



4.7.1 Veterinarians Who Wish to Work More (Underemployment)

Of 766 Equine respondents, 129 (and 270 out of 2,244 AVMA respondents) reported a desire to

work more hours per week than they do now, for a higher level of compensation.

Of the respondents who desired to work more hours, the mean number of additional hours

desired was 19.7 hours compared to the mean number of hours for the AVMA sample of 19.0.

The mean additional hours for female Equine respondents who wanted to work more hours

and were working no more than 168 hours a week, was 19.7 hours, moving from 51.6 hours to

71.3 hours per week. Female AVMA respondents, having a current mean 42 hour per week,

wanted to work an additional 16.5 hours, moving to a 58.5-hour work week. The mean

additional hours for male Equine respondents who wanted to work more hours was 20.1 hours,

moving from 51.1 hours to 71.2 hours worked per week. While a large difference exists

between the female Equine and AVMA respondents in terms of the number of hours desired to

work, male Equine and AVMA respondents were similar, as male AVMA respondents reported

working a mean of 47.7 hours per week and wanting to work an additional 25 hours on

average, which totals 72.7 hours per week (Figure 110).

Page 349 of 577



Figure 110: Distribution of Equine and AVMA Respondents’ Underemployment by Gender

Of 94 Equine respondents across the nine U.S. regions three respondents in Region 5 reported

wanting to work the most hours per week (94.6 hours) and seven Equine respondents in Region

7 desired a mean of 50.4 hours a week (Figure 111).

51.6 51.142.0 47.7

71.3 71.258.5

72.7

0.0

20.0

40.0

60.0

80.0


Equine - Male(n=49)


AVMA - Male(n=73)

# of

Hou

rs

Gender

Distribution of Respondents' Underemployment by Gender

Hours worked Hours want to work

Page 350 of 577



Figure 111: Distribution of Equine and AVMA Respondents’ Underemployment by Region

Across equine sectors, out of 82 respondents used in this analysis, 54 Equine respondents in

general equine practice reported wanting to work an average of 78.5 hours, followed by four

0.0

20.0

40.0

60.0

80.0

100.0

# of

Hou

rs

Work Region

Distribution of Equine Respondents' Underemployment by Region

Hours worked Hours want to work Median hours worked

0.010.020.030.040.050.060.070.080.0

# of

Hou

rs

Work Region

Distribution of AVMA Respondents' Underemployment by Region


Page 351 of 577



respondents in the Thoroughbred racing industry (77.8 hours), while the lowest total number of

desired hours was expressed by five respondents in the equine companion sector, with 53.8

hours on average (Figure 112).

Figure 112: Distribution of Equine Respondents’ Underemployment by Primary Equine Sector41

Among 83 Equine respondents working in different types of practices, the three Equine

respondents (Figure 113) in limited-service specialty/referral hospitals reported wanting to

work the least number of mean hours (63.3 hours), with 11 respondents in a full-service

specialty/referral hospital with an ambulatory division reported wanting to work the most

hours per week (80.2 hours).

41 Standardbred racing, Quarter Horse racing, ranch or working, and gaited breeds were omitted because the number of observations did not permit estimation.

48.6

37.8

58.5

47.354.5

67.9

53.8

77.8

65.8

78.5

English (n=13) Companion/Pet(n=5)

Racing-TB (n=4) Reproductive (n=6) General equine(n=54)

# of

Hou

rs


Distribution of Equine Respondents' Underemployment by Primary Equine Sector


Page 352 of 577



Figure 113: Distribution of Equine Respondents’ Underemployment by Business Model 42

Equine respondents were asked their reasons for wanting to work more hours a week, selecting

all that applied to them. Reasons that Equine respondents gave for wanting to work more hours

a week were: the desire to gain professional expertise (14.7 percent), not currently working to

capacity (42.2 percent), the desire to earn more compensation (82.6 percent), or some other

reason such as paying off student loans, providing better service to the community, satisfying

needs of the client, and social benefits (4.6 percent).

42 Full-service specialty/referral hospital, haul-in facility only, and l imited-service specialty/referral hospital with ambulatory division were omitted because the number of observations did not permit estimation.

47.353.7

40.0

57.050.0

70.8 72.663.3

80.270.0

Ambulatory (n=43) Ambulatory withHaul-in (n=23)

Specialty/referralhospital -Limited

service (n=3)

Specialty/referral hospital – Full

service with ambulatory (n=11)

Other (n=3)

# of

Hou

rs


Distribution of Equine Respondents' Underemployment by Business Model


Page 353 of 577



4.7.2 Veterinarians Who Wish to Work Less (Negative Underemployment)

Among respondents, 178 out of 766 Equine participants and 497 of 2,244 AVMA respondents

reported a desire to work fewer hours per week than they do now, for a lower level of

compensation.

In contrast to those who indicated a desire to work additional hours for increased

compensation, 23.2 percent of Equine respondents (AVMA: 22.2 percent) indicated they

wanted to work a mean 16.4 hours less per week for less compensation (AVMA: 14.9 hours).

The Equine respondents who wished to work less (23.2 percent) were working roughly 8.9

hours more per week (60.3 hours) on average than the Equine respondents (51.4 hours) who

wished to work more (16.8 percent).The remaining 60 percent desired to stay at their current

work hours with no change in their compensation. The AVMA data also indicate that the group

who wished to work less (22.2 percent) was working roughly 6.8 hours more per week (50.3

hours per week) than the group wishing to work more (12 percent) (43.5 hours per week) while

the remaining 65.8 percent desired no change in their current work hours.

The Equine respondents who desired more work wished to expand their work time by an

average of 19.7 hours (AVMA: 19.0 hours). The Equine respondents who desired to work fewer

hours wanted to lessen their work week by 16.4 hours (AVMA: 14.9 hours).

The total level of underemployment among Equine respondents is negative; this is because the

number of Equine respondents who desired to work less (23.2 percent) exceeds the number

who desired to work more (16.8 percent), and the Equine respondents who wanted to work

less desired to reduce their work week by an average of 16.4 hours while the Equine

respondents who wanted to work more wanted to increase their work week by an average of

19.7 hours. In other words, the surveyed sample of Equine veterinarians does not present

Page 354 of 577



enough respondents willing to work the additional amount required to replace the gap that

would materialize should respondents desiring to work less be able to do so.

The current workload of Equine respondents who desired to work fewer hours was around 60

hours per week and there was an average desire to reduce the length of the work week to

between 38 and 45 hours per week. Female Equine respondents wanted to work a mean 16.9

fewer hours a week (AVMA females: 14.5 hours), to reach a desired mean of 45 hours per week

(AVMA females: 34.9 hours). Male Equine respondents desired to work a mean 19.1 hours less

than they currently are working (AVMA males: 16.4 hours) to reach a desired mean of 38.4

hours per week (AVMA males: 36.5 hours) (Figure 114).

Figure 114: Distribution of Equine and AVMA Respondents’ Negative Underemployment by Gender

Looking at 128 Equine respondents with respect to negative underemployment by region, the

average work week among Equine respondents across regions was approximately 60 hours per

week, with the desired mean of roughly 40 hours a week. Similarly AVMA respondents, with a

current mean of roughly 50 hours per week across regions, desire to reduce their work week to

reach a desired mean of roughly 35 hours per week (Figure 115).

61.9 57.549.4 52.9

45.0 38.4 34.9 36.5


Equine - Male(n=52)


AVMA - Male(n=116)

# of

Hou

rs

Gender

Distribution of Respondents' Negative Underemployment by Gender

Hours worked Hours want to work

Page 355 of 577



Figure 115: Distribution of Equine and AVMA Respondents’ Negative Underemployment by Region

0.010.020.030.040.050.060.070.0

# of

Hou

rs

Region

Distribution of Equine Respondents' Negative Underemployment by Region


0.010.020.030.040.050.060.070.0

# of

Hou

rs

Region

Distribution of AVMA Respondents' Negative Underemployment by Region


Page 356 of 577



Within the equine sectors, seven Equine respondents in the reproductive sector worked a mean

75.1 hours per week, and desired to work a mean 24.9 hours less per week. Five Equine

respondents who were engaged in Western performance worked a mean 47.0 hours per week,

and desired to work a mean 7.7 hours per week less (Figure 116).

Figure 116: Distribution of Equine Respondents’ Negative Underemployment by Primary Equine Sector43

43 Gaited breeds, Quarter Horse and Standardbred racing were omitted because the number of observations did not permit estimation.

0.010.020.030.040.050.060.070.080.0

# of

Hou

rs

Equine Sector

Distribution of Equine Respondents' Negative Underemployment by Primary Equine Sector


Page 357 of 577



Five Equine respondents out of 116 Equine respondents who reported working in a

specialty/referral limited service with ambulatory division are working a mean 73.6 hours and

wish to work a mean 41.6 hours per week. On the opposite end, 41 Equine respondents in an

ambulatory with haul-in facility practice are working a mean 57.1 hours and wish to work a

mean 41.5 hours per week (Figure 117).

Figure 117: Distribution of Equine Respondents’ Negative Underemployment by Business Model 44

44 Full-service specialty/referral hospital and haul-in facility only were omitted because the number of observations did not permit estimation.

60.8 57.161.3

73.6

60.7

72.4

45.741.5 41.3 41.6

46.4

33.8

Ambulatory (n=39) Ambulatory withHaul-in facility

(n=41)

Specialty/referralhospital-Limited

service (n=3)

Specialty/referralhospital-Limited

service withambulatory division

(n=5)

Specialty/referralhospital-Full service

with ambulatorydivision (n=21)

Other (n=5)

# of

Hou

rs


Distribution of Equine Respondents' Negative Underemployment by Business Model


Page 358 of 577



Reasons to Work Less

AAEP respondents cited the need to improve work-life balance as the main reason they want to

work less (77.3 percent), followed by taking care of children/childbearing. The AVMA sample

shows that 50 percent of respondents have some other reason followed by 33.7 percent to take

care of children/childbearing (Table 89).

Table 89: Reasons Equine and AVMA Respondents Want to Work Less (select all that apply)

Reasons Want to Work Less Obs. Equine Obs. AVMA

Better work-life balance 136 77.3% - - Taking care of children/childbearing 39 22.2% 165 33.7% Nearing retirement 38 21.6% 71 14.5% Medical reasons/ difficult to or unable to physically perform requirements of job

18 10.2% 26 5.3%

Other reason 13 7.4% 246 50.0% Pursuing another career 12 6.8% 44 9.0% Taking care of elderly parents 6 3.4% - -

Note: The 2016 AVMA Census of Veterinarians did not give “Better work-life balance” or “Taking

care of elderly parents” as a choice in reasons for wanting to work fewer hours.

Page 359 of 577



4.7.3 Factors Correlated with Underemployment

Following the same method used to identify the factors that are correlated with student debt

and income, a multiple linear regression was used to determine the factors that are correlated

with underemployment. Variables that are significant at the 10 percent, 5 percent and 1

percent levels are reported in explaining the factors affecting underemployment. The

dependent variable is a desired change in hours worked (underemployment) and the

independent variables explaining this variation are income, graduation year, age, gender, intern

and residency completion, board certified, highest degree obtained, veterinary educational

debt, physical and mental health condition, satisfaction with current employment, work region,

school region, home ownership, current living environment/community, community size in

which respondent works, has children , number of hours worked per week, full-time status, and

practice ownership. In addition, equine-specific variables were added to the AAEP model to see

which equine-specific factors influenced underemployment, such as business model, equine

sector, and total number of unique clients. Type of employment was included in the AVMA

model.

The coefficient in Table 90 indicates the number of hours desired, with a negative coefficient

representing a desired decrease in work hours, and a positive coefficient a desired increase in

work hours. An AAEP respondent who went to school in Region 1 , for example, desired to

decrease his or her working hours by 37.2 hours.

The column labelled “Sig.” represents the significant variables. These variables, also known as

p-values, are such that for a “sig” less than 0.10, the coefficient is statistically different from

“0.” For AAEP respondents who went to school in Region 9, for instance, the p-value is .08; this

means it is statistically, significantly different from the baseline: School Region 3.

Page 360 of 577



To avoid statistical errors, baseline factors are used. The baseline variables are school in Region

3, owns a home, lives in a rural area, works in a community size of 50,001 to 500,000 residents

in the AAEP model and 50,000 to 499,999 in the AVMA model), work Region 9, obtained a

bachelor’s degree, works in an ambulatory practice (AAEP model), works in the general equine

practice sector (AAEP model), and companion animal practice (AVMA model).

The following factors were statistically significant in explaining the variation in

underemployment of AAEP respondents, at the 10 percent or less level of significance:

completion of an internship, veterinary eductional debt, rents a dwelling, works in a community

size of 10,001 to 25,000 residents, school Region 1, school Region 9, works in a limited-service

specialty/referral hospital with ambulatory division, works in a full-service specialty/referral

hospital and some other form of business model.

The following factors were statistically significant in explaining the variation in

underemployment of AVMA respondents at the 10 percent or less level of significance: income,

gender, specialty degree, veterinary educational debt, other type of living arrangement, school

Region 1, works in Region 3 or Region 5, lives in an urban area, hours worked, and works in an

equine practice.

The coefficient for internship, 10.30, indicates that, on average, AAEP respondents who

completed an internship desire to increase their number of hours worked by 10 hours versus

the respondents who did not participate in an internship.

With regard to educational debt, both Equine and AVMA models revealed a positive coefficient,

meaning that for every thousand dollar increase in veterinary educational debt, respondents

desired to work more hours (.08 in the AAEP model and .03 in the AVMA model). In the AVMA

sample, the coefficient for equine practice indicates that respondents practicing equine

Page 361 of 577



medicine desired to decrease their work hours by almost 11 hours compared to respondents in

companion animal practice.

Within the AAEP model, respondents working in a limited-service specialty referral hospital

with an ambulatory division desired a decrease in hours worked per week of 47 hours,

respondents in a full-service specialty referral hospital with ambulatory division desired a

decrease in hours worked per week of 19 hours, and respondents in another type of business

model desired a decrease of 58 hours worked per week compared to respondents in an

ambulatory practice.


AAEP sample and .1703 in the AVMA sample. This indicates that the inclusion of all these

factors were able to explain 9 percent and 17 percent of the variation between the individually

reported desired hours work and the estimated mean desired hours worked. Thus, there are

important variables that determine starting salaries that have not been included, and are due

to other unobservable factors.

Page 362 of 577



Table 90: Factors Affecting Underemployment

AAEP Coefficient Std. Error Sig.

Income 0.017 0.029 0.56 Graduation Year -0.188 0.934 0.84 Age 0.986 0.978 0.32 Gender (Female=1) -0.134 8.565 0.99 Internship (Yes=1) 10.298 5.801 0.08* Residency (Yes=1) -7.502 11.289 0.51 Board Certified (Yes=1) 3.192 12.046 0.79 Bachelor’s (baseline) Omitted Master’s -4.420 11.026 0.69 Specialty Degree 5.131 34.410 0.88 DVM only 8.303 10.876 0.45 DVM Debt 0.083 0.047 0.09* Physical health condition (5=Excellent/1=Very poor) -5.099 5.434 0.35 Mental health condition (5=Excellent/1=Very poor) 0.403 4.931 0.94 Satisfaction with current employment (5=Extremely satisfied/1=Not at all satisfied)

0.389 3.209 0.90

Housing - own (baseline) Omitted Housing - rent 16.235 8.188 0.05** Housing - other 7.146 18.959 0.71 Region 0 -8.045 14.150 0.57 Region 1 -11.302 14.654 0.44 Region 2 1.569 13.559 0.91 Region 3 -15.947 14.846 0.29 Region 4 -10.938 13.767 0.43 Region 5 -23.439 16.055 0.15 Region 6 -9.505 16.206 0.56 Region 7 -9.838 14.598 0.50 Region 8 13.803 10.269 0.19 Region 9 (baseline) Omitted Rural (baseline) Omitted Urban -1.443 10.091 0.89 Suburban -8.639 7.650 0.27 Children (Yes=1) -2.017 8.521 0.81 Under 2,500 residents -4.742 11.291 0.68 2,501 to 10,000 residents -4.842 10.682 0.65

Page 363 of 577



10,001 to 25,000 residents -15.824 9.243 0.09* 25,001 to 50,000 residents -7.041 9.263 0.45 50,001 to 500,000 residents (baseline) Omitted 501,000 or more residents -5.762 10.025 0.57 School Region 0 8.504 18.397 0.65 School Region 1 -37.222 16.138 0.03** School Region 2 -18.269 14.440 0.21 School Region 3 (baseline) Omitted School Region 4 -1.149 10.481 0.91 School Region 5 16.433 17.790 0.36 School Region 6 -12.878 13.783 0.36 School Region 7 2.311 12.342 0.85 School Region 8 -16.506 12.984 0.21 School Region 9 -21.100 11.970 0.08* General equine (baseline) Omitted Working 17.937 15.270 0.25 English performance 10.115 11.831 0.40 Companion 1.841 13.120 0.89 Quarter Horse racing 35.141 36.535 0.34 Standardbred racing 2.901 19.046 0.88 Thoroughbred racing 14.142 15.761 0.37 Reproductive 6.583 12.368 0.60 Western performance -18.046 12.712 0.16 Ambulatory (baseline) Omitted Ambulatory with haul-in facility -8.698 8.434 0.31 Haul-in only -16.602 23.609 0.49 Specialty/referral - limited service hospital -18.211 19.584 0.36 Specialty/referral - full service hospital 0.727 29.399 0.98 Specialty/referral - limited service hospital with ambulatory

-47.109 17.946 0.01***

Specialty/referral - full service hospital with ambulatory -18.950 11.173 0.10* Other business model -58.183 27.834 0.04** Unique Patients -0.116 2.141 0.96 Hours worked per week -0.321 0.214 0.14 Full-time (Yes=1) 2.340 16.332 0.89 Practice Owner (Yes=1) 3.331 7.942 0.68 Constant -14.235 43.141 0.74

Page 364 of 577



Observations 109


Note: Ph.D. was omitted because of correlation with other variables.



AVMA Coefficient Std. Error Sig.

Income -0.043 0.017 0.01*** Graduation Year -0.179 0.320 0.58 Age 0.217 0.302 0.47 Gender (Female=1) -8.555 2.357 0.00*** Internship (Yes=1) 2.990 2.796 0.29 Residency (Yes=1) -1.749 7.734 0.82 Board Certified (Yes=1) -0.460 7.093 0.95 Bachelor’s (baseline) Omitted Ph.D. 7.871 5.875 0.18 Master’s 4.086 3.171 0.20 Specialty Degree -48.087 20.705 0.02** DVM only 4.146 3.927 0.29 DVM debt 0.025 0.010 0.02** Health condition (5=Excellent/1= Poor) 0.727 1.097 0.51 Satisfaction with current employment (5=Extremely satisfied/1=Not at all satisfied)

0.514 1.016 0.61

Housing - own (baseline) Omitted Housing - rent 1.040 2.569 0.69 Housing - other 9.507 5.827 0.10* School Region 0 -6.218 4.830 0.20 School Region 1 8.538 4.984 0.09* School Region 2 4.722 4.698 0.32 School Region 3 (baseline) Omitted School Region 4 -5.988 3.796 0.12 School Region 5 -7.109 4.510 0.12 School Region 6 -1.541 4.977 0.76 School Region 7 3.100 5.716 0.59

Page 365 of 577



School Region 8 -1.016 5.795 0.86 School Region 9 2.296 4.344 0.60 Region 0 8.183 5.358 0.13 Region 1 3.486 4.509 0.44 Region 2 4.182 4.775 0.38 Region 3 9.936 4.735 0.04** Region 4 8.206 5.304 0.12 Region 5 9.010 5.028 0.07* Region 6 5.410 5.852 0.36 Region 7 1.077 5.688 0.85 Region 8 3.094 4.425 0.49 Region 9 (baseline) Omitted Rural (baseline) Omitted Urban 6.639 3.575 0.06* Suburban 2.872 2.669 0.28 Children (Yes=1) -2.219 2.281 0.33 Under 2,500 residents 4.358 4.824 0.37 2,500 to 49,999 residents -1.037 2.457 0.67 50,000 to 499,999 residents (baseline) Omitted 500,000 or more residents 4.782 2.992 0.11 Hours worked per week -0.408 0.079 0.00*** Full-time (Yes=1) 3.770 4.319 0.38 Practice Owner (Yes=1) -1.135 2.981 0.70 Companion Animal (baseline) Omitted Mixed Animal -3.651 3.864 0.35 Food Animal 3.924 6.541 0.55 Equine -10.932 4.468 0.02** Public Practice (Yes=1) -2.395 4.827 0.62 Constant 1.406 11.958 0.91

Observations 398




Page 366 of 577



4.8 HEALTH AND WELLNESS

A British Equine Veterinary Association (BEVA) study conducted in 2014 raised concerns about

the occupational danger of an equine veterinary career. Their findings concluded that equine

practitioners carry the highest risk of injury of any civilian occupation in the United Kingdom.

The results of the BEVA study indicated that an equine veterinarian could expect to sustain

between seven and eight work-related injuries that impeded them from practicing during a 30-

year working life. This subsection on equine veterinary profession wellness offers a view of the

physical and mental wellness of AAEP respondents compared to AVMA respondents, where

applicable.

4.8.1 Physical and Mental Health

All AAEP respondents were asked about their physical and mental health condition. Health

condition was asked of the AVMA sample, but not divided by physical or mental health, and the

interval in which health condition was measured was also different in the AVMA sample.

Approximately 99 percent of AAEP respondents reported their physical health as fair, good or

excellent, with 89.4 percent in the good to excellent range. Almost 97 percent reported their

mental health as being fair, good or excellent, with 82.2 percent in the good to excellent range.

Examining the data by gender found that approximately 90 percent of AAEP males and AAEP

females reported their physical health as being in good to excellent condition. Approximately

90 percent of the males reported their mental health as being in good to excellent condition,

and 76.4 percent of female respondents reported their mental health being in good to excellent

condition. 9.2 percent of AAEP males and 18.7 percent of females reported their mental health

to be in fair condition, and 4.6 percent of women reported their mental health as being in poor

to very poor condition (Figure 118).

Page 367 of 577



More than 90 percent of AVMA male and female respondents reported their health condition

as good to excellent (Figure 119). Around 6 percent of AVMA respondents, both male and

female, reported their health as being in fair condition, and less than 1 percent, both male and

female, reported their health condition as poor.

Figure 118: Distribution of AAEP Respondents’ Physical and Mental Health Condition by Gender

Male (n=403) Female (n=567) Male (n=403) Female (n=566)Excellent 32.9% 35.8% 50.4% 24.7%Good 55.9% 54.1% 39.7% 51.9%Fair 10.1% 9.7% 9.2% 18.7%Poor 1.0% 0.0% 0.7% 4.1%Very Poor 0.0% 0.4% 0.0% 0.5%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

% o

f Res

pond

ents

Physical Health Mental Health

Distribution of AAEP Respondents' Physical and Mental Health Condition by Gender

Page 368 of 577



Figure 119: Distribution of AVMA Respondents’ Health Condition by Gender

Overall, about 90 percent of the male and female associate AAEP respondents reported

physical health in the good to excellent range. More than 80 percent of male associate AAEP

respondents reported their mental health in the good to excellent range and nearly three-

fourths of female associate AAEP respondents reported their mental health in the good to

excellent range (Figure 120). Compared to practice owners (Figure 121), a higher percentage of

associate AAEP respondents reported being in the fair to very poor condition range for physical

and mental condition: 7.8 percent of male associates reported fair physical health condition

(6.7 percent male AAEP owners), 11.7 percent of female associates reported fair to very poor

physical health (4.1 percent female AAEP owners), 17.6 percent male associate respondents

reported fair to poor mental health (9.6 percent male AAEP owners), and more than one-

quarter of female associates reported their mental health condition in the fair to very poor

range (14.6 percent female AAEP owners). In addition, while the health condition of the AVMA

Male (n=768) Female (n=1,618)Excellent 25.9% 24.7%Very good 44.7% 45.8%Good 22.8% 22.7%Fair 6.1% 6.5%Poor 0.5% 0.4%

0.0%5.0%

10.0%15.0%20.0%25.0%30.0%35.0%40.0%45.0%50.0%

% o

f Res

pond

ents

Health Condition

Distribution of AVMA Respondents' Health Condition by Gender

Page 369 of 577



sample is on a different interval scale than the AAEP sample, it is provided in Figure 120 and

Figure 121 for reference.

Male (n=51) Female (n=162) Male (n=51) Female (n=161)Excellent 29.4% 35.8% 35.3% 18.0%Good 62.7% 52.5% 47.1% 56.5%Fair 7.8% 11.1% 15.7% 20.5%Poor 0% 0% 2.0% 4.3%Very Poor 0.0% 0.6% 0.0% 0.6%

0.0%10.0%20.0%30.0%40.0%50.0%60.0%70.0%80.0%

% o

f Res

pond

ents

Physical Condition Mental Condition

Distribution of AAEP Respondent Associates' Physical and Mental Health Condition by Gender

Page 370 of 577



Figure 120: Distribution of AAEP and AVMA Respondent Associates’ Physical and Mental Health Condition by Gender

Male (n=218) Female (n=860)Excellent 23.4% 24.7%Very good 49.1% 46.3%Good 19.3% 23.0%Fair 7.8% 5.7%Poor 0.5% 0.3%

0.0%10.0%20.0%30.0%40.0%50.0%60.0%

Axis

Title

Health Condition

Distribution of AVMA Respondent Associates' Health Condition by Gender

Male (n=179) Female (n=123) Male (n=178) Female (n=123)Excellent 38.5% 42.3% 54.5% 33.3%Good 54.7% 53.7% 36.0% 52.0%Fair 6.7% 4.1% 9.0% 12.2%Poor 0% 0% 0.6% 2.4%Very Poor 0.0% 0.0% 0.0% 0.0%

0.0%10.0%20.0%30.0%40.0%50.0%60.0%

% o

f Res

pond

ents

Physical Condition Mental Condition

Distribution of AAEP Respondent Owners' Physical and Mental Health Condition by Gender

Page 371 of 577



Figure 121: Distribution of AAEP and AVMA Respondent Owners’ Physical and Mental Health Condition by Gender

Note: Employment types besides owners and associates were not represented in this analysis

because the number of observations did not permit estimation.

When wellness of AAEP respondents was compared by graduation year, variation was seen

between those respondents who graduated most recently and those with years of experience.

The general trend was a minor decrease in physical health with the passage of years (Figure

122). When comparing the mental health condition of respondents, veterinarians who recently

graduated from veterinary college reported fair to poor to very poor mental health conditions

with greater frequency than respondents who had more experience in the veterinary field. A

higher percentage of respondents from distant graduation years reported having an excellent

mental health condition.

Male (n=212) Female (n=202)Excellent 34.9% 29.2%Very good 39.2% 47.5%Good 21.7% 14.9%Fair 4.2% 8.4%Poor 0.0% 0.0%

0.0%5.0%

10.0%15.0%20.0%25.0%30.0%35.0%40.0%45.0%50.0%

Axis

Title

Health Condition

Distribution of AVMA Respondent Owners' Health Condition by Gender

Page 372 of 577



< 1967(n=21)

1967-1976

(n=91)

1977-1986

(n=163)

1987-1996

(n=156)

1997-2006

(n=151)

2007-2011

(n=159)

2012-2016

(n=218)Excellent 33.3% 36.3% 35.6% 34.0% 37.1% 38.4% 28.9%Good 57.1% 49.5% 50.9% 57.7% 51.7% 52.2% 61.9%Fair 9.5% 12.1% 12.3% 8.3% 10.6% 8.8% 9.2%Poor 0.0% 2.2% 1.2% 0.0% 0.0% 0.0% 0.0%Very Poor 0.0% 0.0% 0.0% 0.0% 0.7% 0.6% 0.0%

0.0%10.0%20.0%30.0%40.0%50.0%60.0%70.0%

% R

espo

nden

ts

Graduation Year

Distribution of AAEP Respondents' Physical Health Condition by Graduation Year

Page 373 of 577



Figure 122: Distribution of AAEP Respondents’ Physical and Mental Health Condition by Graduation Year

< 1967(n=21)

1967-1976

(n=90)

1977-1986

(n=163)

1987 -1996

(n =156)

1997-2006

(n=150)

2007-2011

(n=159)

2012-2016

(n=218)Excellent 47.6% 62.2% 54.0% 43.6% 34.0% 20.8% 14.2%Good 52.4% 35.6% 38.0% 43.6% 45.3% 54.7% 56.0%Fair 0.0% 1.1% 6.1% 12.2% 17.3% 18.2% 25.2%Poor 0.0% 1.1% 1.8% 0.6% 3.3% 5.0% 4.1%Very Poor 0.0% 0.0% 0.0% 0.0% 0.0% 1.3% 0.5%

0.0%10.0%20.0%30.0%40.0%50.0%60.0%70.0%

% R

espo

nden

ts

Graduation Year

Distribution of AAEP Respondents' Mental Health Condition by Graduation Year

Page 374 of 577



Among the AAEP members surveyed, 43 percent of male respondents and 40 percent of

females reported that their physical health limited them somewhat from meeting the demands

of their job or daily life. The majority of respondents reported no limitation of daily activity

from physical health issues, while about one-third of each gender reported a ”little” limitation.

Nearly one-quarter of males reported that their mental health limited them a little to a great

deal in meeting the demands of their job or daily life, while 42.5 percent of females reported

their mental health affected their ability to meet the demands of their job or daily life a little to

a great deal. However, the majority of respondents reported no limitation, and most of the

respondents who reported limitations reported that they were limited “a little” (Figure 123).

Figure 123: Distribution of AAEP Respondents’ Physical and Mental Health Limitations on Daily Activities

Male (n=305) Female(n=487) Male (n=305) Female

(n=487)A great deal 1.3% 0.6% 0.7% 0.0%A lot 2.3% 1.4% 1.0% 1.4%A moderate amount 5.6% 3.9% 4.6% 6.6%A little 33.8% 33.7% 18.0% 34.5%Not at all 57.0% 60.4% 75.7% 57.5%

0.0%10.0%20.0%30.0%40.0%50.0%60.0%70.0%80.0%

% o

f Res

pond

ents

Physical Health Mental Health

Distribution of AAEP Respondents' Physical and Mental Health Limitations on Daily Activities

Page 375 of 577



Work Injury

Nearly four-fifths of 959 AAEP respondents reported they had been injured while performing

work as a veterinarian. Of those respondents who reported work injuries, 44.2 percent were

male and 55.8 percent were female.

Survey respondents were asked the amount of time their injuries kept them from working, if at

all, by selecting all answers that applied to them. Out of the 764 respondents who were injured

at some point during their career and who answered this question, 48.0 percent of the

respondents did not miss work due to a work injury for at least one of the injuries they

reported having, 36.7 percent indicated no more than seven days of work were missed, 10.7

percent no more than 30 days (one month), 4.7 percent no more than 90 days (three months),

and 3.4 percent more than 90 days. 2.1 percent indicated they sustained a permanent disability

from an injury that occurred while practicing veterinary medicine (Figure 124).

Page 376 of 577



Figure 124: Distribution of AAEP Respondents' Number of Days out of Work Related to Injury Suffered at Work (select all that apply)

48.0% 36.7%10.7% 4.7% 3.4% 2.1%

52.0% 63.3%89.3% 95.3% 96.6% 97.9%

0%

20%

40%

60%

80%

100%

% o

f Res

pond

ents

# Days Out of Work

Distribution of AAEP Respondents' Number of Days Out of Work Related to Injury Suffered at Work (select all that apply)

Yes No

Page 377 of 577



Of those respondents who missed work because of injuries, 62.6 percent indicated this had

occurred more than once, with 53 percent reporting two to four times, 6 percent five to eight

times, and 3.6 percent more than eight times (Figure 125).

Figure 125: Distribution of AAEP Respondents' Number of Injuries Incurred While Practicing Veterinary Medicine That Caused Missed Work Time

When AAEP respondents were asked if they had been hospitalized or had surgery as a result of

an injury received while performing work as a veterinarian, 16.7 percent reported being

hospitalized and 20.3 percent reported having surgery for a work-related injury. Of the 956

respondents answering this question, 26.1 percent of male respondents reported that they had

been hospitalized compared to 9.7 percent of females; 33.6 percent of male respondents

reported having had surgery versus 10.7 percent of females (Table 91). Of the respondents who

were injured and required hospitalization and/or surgery, more than 65 percent were males

(Figure 126). In interpreting these results, it is important to remember that male respondents

had a mean of 29 years of experience compared to 12.3 years for female respondents.

37.3%

53.0%

6.0%3.6%

Distribution of AAEP Respondents' Number of Injuries Incurred While Practicing Veterinary Medicine That

Caused Missed Work Time (n=415)

One Two to four Five to eight More than eight

Page 378 of 577



Table 91: Distribution of AAEP Respondents’ Hospitalization and Surgery as a Result of Performing Work as a Veterinarian by Gender

Was hospitalized?

Had surgery?

Yes No

Yes No

Male (n=402) 26.1% 73.9%

33.6% 66.4% Female (n=554) 9.7% 90.3%

10.7% 89.3%

Figure 126: Distribution of AAEP Respondents' Result of a Work-Related Injury by Gender

Daily Activities

A health condition may limit a veterinarian in certain types of daily activities that they may

encounter on the job or in their personal life. These health limitations may affect the desire of a

veterinarian to work more or fewer hours, and can be used as a measure for

66.0% 69.6%

34.0% 30.4%

Hospitalization(n=159)

Surgery(n=194)

% o

f Res

pond

ents

Result of Related Work Injury

Distribution of AAEP Respondents' Result of A Work Related Injury by Gender

Male Female

Page 379 of 577



underemployment45. Vigorous activities such as running, lifting heavy objects, and participating

in strenuous sports and moderate activities such carrying equipment, working on horses’

hooves, floating teeth or playing golf, can be affected by the health limitations of a veterinarian

during a typical day. Among AAEP respondents, 51 percent of males reported their health

limited them during vigorous activities, compared to 36.9 percent of females (Figure 127). 24.0

percent of male and 16.1 percent of female respondents reported they were limited by health

issues in performing moderate activities in (Figure 128).

Limitations in performing moderate and vigorous activities due to health issues among AAEP

respondents increased the longer an AAEP respondent had been practicing veterinary medicine

(Table 92).

Figure 127: Distribution of How AAEP Respondents’ Health Limited Vigorous Activities by Gender

45 Please see Section 4.7 for information regarding underemployment.

12.1% 7.6%

38.9%29.3%

49.0%63.2%


% o

f Res

pond

ents

Gender

Distribution of How AAEP Respondents’ Health Limited Vigorous Activities by Gender

A lot A moderate amount Not at all

Page 380 of 577



Figure 128: Distribution of How AAEP Respondents’ Health Limited Moderate Activities by Gender

Table 92: Distribution of How AAEP Respondents’ Health Limited Vigorous and Moderate Activities by Graduation Year

< 1967 (n=18)

1967-1976 (n=73)

1977-1986

(n=135)

1987-1996

(n=131)

1997-2006

(n=130)

2007-2011

(n=153)

2012-2016

(n=210) Vigorous Activities

A lot 33.3% 28.8% 11.1% 13.7% 6.9% 3.9% 3.3% A moderate amount

50.0% 49.3% 51.9% 38.9% 20.0% 25.5% 23.8%

Not at all 16.7% 21.9% 37.0% 47.3% 73.1% 70.6% 72.9% Total 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% Moderate Activities

A lot 5.6% 9.6% 3.0% 3.1% 1.5% 2.6% 1.9% A moderate amount

61.1% 31.5% 26.9% 22.9% 7.7% 9.2% 7.6%

Not at all 33.3% 58.9% 70.1% 74.0% 90.8% 88.2% 90.5% Total 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

20.2% 13.6%

76.0% 83.9%


% o

f Res

pond

ents

Gender

Distribution of How AAEP Respondents’ Health Limited Moderate Activities by Gender

A lot A moderate amount Not at all

Page 381 of 577



Physical Health – Past Four Weeks

AAEP respondents were asked how much of the time in the four weeks prior to completing this

survey did they have certain problems with their work or other regular daily activities as a result

of their physical health. 39.8 percent of male and 37.8 percent of female AAEP respondents

reported accomplishing less than they would have liked due to their physical health a little to all

of the time while 36.9 percent of males and 30.7 percent of females felt they were limited in

the kind of work or other activities they had participated in as a result of their physical health a

little to all of the time (Table 93).

Respondents who graduated from veterinary school longer ago reported a decreasing trend in

physical health that caused them to accomplish less than they would like, as well as limiting

them in the kinds of work they performed or regular daily activities in which they participated

(Table 94).

Table 93: Distribution of AAEP Respondents’ Feelings on Accomplishing and Feeling Limited in Work and Other Activities as a Result of Their Physical Health by Gender


Accomplished less than you would like All of the time 2.0% 1.4% Most of the time 6.1% 2.5% Some of the time 12.8% 9.5% A little of the time

18.9% 24.4%

None of the time 60.2% 62.2% Total 100.0% 100.0%

Were limited in the kind of work or other activities All of the time 2.3% 1.4% Most of the time 4.4% 2.1% Some of the time 12.5% 6.4% A little of the time

17.7% 20.8%

Page 382 of 577




Table 94: Distribution of AAEP Respondents’ Feelings on Accomplishing and Feeling Limited in Work and Other Activities as a Result of Their Physical Health by Graduation Year

Graduation Year

< 1967 (n=18)

1967-1976 (n=72)

1977-1986

(n=134)

1987-1996

(n=131)

1997-2006

(n=130)

2007-2011

(n=153)

2012-2016

(n=209) Accomplished less than you would like

All of the time

5.6% 2.8% 2.2% 3.1% 0.8% 0.7% 0.5%

Most of the time

11.1% 11.1% 6.0% 5.3% 3.8% 1.3% 1.4%

Some of the time

27.8% 23.6% 14.9% 10.7% 4.6% 7.8% 8.1%

A little of the time

16.7% 18.1% 23.1% 25.2% 24.6% 21.6% 21.1%

None of the time

38.9% 44.4% 53.7% 55.7% 66.2% 68.6% 68.9%

Total 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

Were limited in the kind of work or other activities

All of the time

0.0% 2.8% 2.2% 3.8% 1.5% 1.3% 0.5%

Most of the time

11.1% 13.9% 2.2% 5.4% 2.3% 0.0% 0.0%

Some of the time

33.3% 15.3% 17.2% 10.8% 3.8% 6.6% 2.4%


22.2% 27.8% 22.4% 18.5% 15.4% 19.1% 19.6%

None of the time

33.3% 40.3% 56.0% 61.5% 76.9% 73.0% 77.5%

Total 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

Page 383 of 577



Emotional Health – Past Four Weeks

AAEP respondents were also asked how much of the time in the four weeks prior to completing

the survey they felt they accomplished less or were limited in their daily activities by feeling

depressed or anxious. 25.9 percent of male AAEP respondents and 45.2 percent of females

reported accomplishing less than they would have liked as a result of their emotional state a

little to all of the time, and 31.1 percent of males and 53.7 percent of females felt they did work

or participated in activities with less focus than usual as a result of their emotions a little to all

of the time (Table 95).

Across graduation years, recent graduates reported their emotional state interfering with

accomplishing tasks, and doing work or activities with less focus than usual occurring in greater

number than respondents who graduated prior to 2007 (Table 96).

Page 384 of 577



Table 95: Distribution of AAEP Respondents’ Feelings on Accomplishing and Feeling Limited in Work and Other Activities as a Result of Their Emotional State by Gender


Accomplished less than you would like All of the time 0.3% 0.6% Most of the time 2.9% 3.5% Some of the time 8.1% 14.0% A little of the time

14.5% 27.1%


Did work or activities with less focus than usual All of the time 0.3% 0.6% Most of the time 2.3% 6.5% Some of the time 10.8% 18.2% A little of the time

17.7% 28.4%


Page 385 of 577



Table 96: Distribution of AAEP Respondents’ Feelings on Accomplishing and Feeling Limited in Work and Other Activities as a Result of Their Emotional State by Graduation Year

Graduation Year

< 1967 (n=18)

1967-1976

(n=73)

1977-1986

(n=134)

1987-1996

(n=128)

1997-2006

(n=130)

2007-2011

(n=150)

2012-2016

(n=209) Accomplished less than you would like

All of the time

0.0% 0.0% 0.7% 0.8% 0.8% 0.7% 0.0%

Most of the time

0.0% 4.1% 2.2% 1.6% 2.3% 5.3% 3.8%

Some of the time

5.6% 5.5% 6.0% 8.5% 12.3% 12.5% 19.1%


22.2% 20.5% 13.4% 19.4% 18.5% 28.9% 27.8%

None of the time

72.2% 69.9% 77.6% 69.8% 66.2% 52.6% 49.3%

Total 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

Did work or activities with less focus than usual

All of the time

0.0% 0.0% 0.0% 1.6% 0.0% 0.7% 0.5%

Most of the time

0.0% 0.0% 1.5% 3.9% 4.6% 8.7% 7.2%

Some of the time

22.2% 6.8% 10.4% 5.5% 16.9% 20.7% 22.5%


11.1% 28.8% 16.4% 25.8% 15.4% 24.7% 31.6%

None of the time

66.7% 64.4% 71.6% 63.3% 63.1% 45.3% 38.3%

Total 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

Bodily Pain and Pain Interference – Past Four Weeks

AAEP respondents were asked how much bodily pain they had experienced during the four

weeks prior to completing the survey, as well as the degree to which pain had interfered with

their normal work, including both their work outside the home and their chores in daily living.

Page 386 of 577



Approximately two-thirds of male (63.6 percent) and female (67.4 percent) AAEP respondents

reported experiencing very mild to mild pain; 26.4 percent of males and 18.8 percent females

reported experiencing moderate to severe to very severe pain. Approximately half of male

(49.1 percent) and female respondents (52.1 percent) reported that pain did not interfere with

their normal work or chores in daily living; 47.4 percent of males and 46.3 percent of females

reported a little to a moderate amount of pain interference. The remaining respondents (3.5

percent males, 1.6 percent females) reported a lot to a great deal of interference from pain

(Table 97).

Table 97: Distribution of AAEP Respondents’ Bodily Pain and Pain Interference during the Past Four Weeks by Gender


How much bodily pain? None 10.0% 13.8% Very mild 35.2% 36.8% Mild 28.4% 30.6% Moderate 23.8% 16.5% Severe 2.3% 1.9% Very Severe 0.3% 0.4% Total 100.0% 100.0%

Pain interference

Not at all 49.1% 52.1% A little 37.0% 37.4% A moderate amount 10.4% 8.9% A lot 2.3% 1.2% A great deal 1.2% 0.4% Total 100.0% 100.0%

The severity of bodily pain AAEP respondents experienced increased among respondents who

were further out from their graduation from veterinary school: 70.5 percent of respondents

who graduated between 2012 and 2016 reported very mild to mild pain while 44.6 percent of

Page 387 of 577



AAEP respondents who graduated 30 years ago (1967-1976) reported moderate to very severe

bodily pain (Figure 129).

Figure 129: Distribution of AAEP Respondents’ Level of Bodily Pain during the Past Four Weeks by Graduation Year

The level of pain interference with work and daily activities of life among AAEP respondents

increased as more time elapsed since a respondent’s graduation from veterinary college. While

1.8 percent of respondents who recently graduated from veterinary college (2007-2011 and

2012-2016 combined) reported a lot to a great deal of pain interference, 15.9 percent of

< 1967(n=18)

1967-1976

(n=74)

1977-1986

(n=136)

1987-1996

(n=131)

1997-2006

(n=130)

2007-2011

(n=153)

2012-2016

(n=210)Very Severe 0.0% 1.4% 0.0% 0.0% 0.8% 0.7% 0.0%Severe 0.0% 2.7% 2.2% 3.8% 2.3% 2.6% 0.5%Moderate 11.1% 40.5% 28.7% 23.7% 16.9% 11.8% 12.4%Mild 38.9% 25.7% 28.7% 31.3% 25.4% 29.4% 32.4%Very mild 38.9% 24.3% 33.8% 32.1% 41.5% 39.2% 38.1%None 11.1% 5.4% 6.6% 9.2% 13.1% 16.3% 16.7%

0%10%20%30%40%50%60%70%80%90%

100%

% o

f Res

pond

ents

Graduation Year

Distribution of AAEP Respondents' Level of Bodily Pain during the Past Four Weeks by Graduation Year

Page 388 of 577



respondents who graduated prior to 2007 experienced a lot to a great deal of pain interference

(Figure 130).

Figure 130: Distribution of AAEP Respondents’ Level of Pain Interference during the Last Past Four Weeks by Graduation Year

< 1967(n=17)

1967-1976

(n=74)

1977-1986

(n=134)

1987-1996

(n=131)

1997-2006

(n=130)

2007-2011

(n=153)

2012-2016

(n=210)A great deal 0.0% 1.4% 0.7% 1.5% 0.8% 0.7% 0.0%A lot 0.0% 5.4% 2.2% 2.3% 1.5% 0.7% 0.5%A moderate amount 11.8% 20.3% 13.4% 10.7% 10.8% 5.9% 5.2%A little 47.1% 36.5% 41.0% 40.5% 28.5% 35.9% 37.1%Not at all 41.2% 36.5% 42.5% 45.0% 58.5% 56.9% 57.1%

0%10%20%30%40%50%60%70%80%90%

100%

% o

f Res

pond

ents

Graduation Year

Distribution of AAEP Respondents' Level of Pain Interference during the Past Four Weeks by Graduation Year

Page 389 of 577



4.8.2 PROFESSIONAL QUALITY OF LIFE

External factors that can affect wellness of an equine veterinarian include but are not limited

to: a veterinarian’s involvement in certain competitive sectors or business components of the

industry, frequent interaction with multiple stakeholders (e.g., owners, riders, trainers), and the

physically grueling and dangerous environment of an equine practice. In addition, changing

technology has allowed new ways to communicate with clients, but at the same time has

presented challenges to the overall wellness of an equine veterinarian due to expectations for

immediate responses in communication along multiple channels. Also affecting quality of life is

a veterinarian’s outlook on the work he or she performs. Questions from the Professional

Quality of Life (ProQOL) tool were included in the AVMA-AAEP 2016 Survey of Equine

Practitioners to investigate the effect that expending compassion in the course of a

veterinarian’s work has on the practitioner’s well-being (Stamm, 2010).

The ProQOL application is used to measure compassion satisfaction, burnout and secondary

traumatic stress associated with helping others who have experienced suffering. Compassion

satisfaction is about the pleasure someone derives from their work. An individual might, for

example, feel like it is a pleasure to help others through the work that he or she does, and

might feel positively about colleagues or his or her ability to contribute to the work setting or

the greater good of society by working with people who need care. On the other hand, negative

feelings derived from work is measured by scoring of burnout (exhaustion, frustration, anger,

depression) and secondary traumatic stress (work-related trauma) (Stamm, 2010).

Responses to the ProQOL questions are scored based on the responses of thousands of

individuals across a number of occupations. The scores have been established to describe low-,

normal- and high-compassion satisfaction, burnout and secondary traumatic stress. This tool

relies on a different set of 10 ranking questions for compassion satisfaction, burnout and

Page 390 of 577



secondary traumatic stress. Respondents are asked to rank each question using the rank scale:

1 = never, 2 = rarely, 3 = sometimes, 4 = often, and 5 = very often. The rank sum of each set of

questions is used in determining the ProQOL score for each of the three areas: Less than a sum

of 22 is considered a low score (equates to a ProQOL score of 43 or less), between 23 and 41 is

considered average (equates to a ProQOL score around 50), and 42 or more is considered high

(equates to a ProQOL score of 57 or more). For all intents and purposes, however, the

summation of each set of questions is also referred to the raw score and is used for reporting

purposes. The ProQOL average scores are based on the average across all professions and not

specific groups. Table 98 can be used to convert the raw score to the 1-100 scale.46 The

maximum raw score on the ProQOL is 50 and the total percentiles available are 100 (Stamm,

2010).47

Table 98: Raw Scores to ProQOL T-Score Conversion Chart

Compassion Satisfaction Burnout Secondary Traumatic Stress %tile Raw score t score %tile Raw Score t score %tile Raw Score t score

1 13 19 1 5 28 1 1 34 2 16 23 2 7 31 2 2 35 3 19 27 3 8 32 3 2 35 4 22 31 4 9 34 4 3 36 5 24 34 5 10 35 5 3 36 6 24 34 6 10 35 6 3 36 7 25 35 7 11 37 7 4 38 8 26 36 8 11 37 8 4 38 9 27 37 9 11 37 9 4 38

46 From the ProQOL website: “When using this table to convert scores, it should be noted that the conversion from raw scores to standardized t-scores is not strictly numeric as there are more scores available on a standardized t-score than on the raw score. Calculations using the SPSS scoring scheme will have some variance in compassion to the table. The variance is trivial, and only applies if a person is on the border of a cut score. The maximum score on the ProQOL is 50 and the total percentiles available are 100.” http://proqol.org/uploads/ProQOL_Concise_2ndEd_12-2010.pdf, page .31 47 http://proqol.org/uploads/ProQOL_Concise_2ndEd_12-2010.pdf, page .31

Page 391 of 577



Compassion Satisfaction Burnout Secondary Traumatic Stress %tile Raw score t score %tile Raw score t score %tile Raw score t score

10 27 37 10 12 38 10 4 38 11 27 37 11 12 38 11 5 39 12 28 39 12 12 38 12 5 39 13 28 39 13 13 39 13 5 39 14 29 40 14 13 39 14 5 39 15 29 40 15 13 39 15 5 39 16 30 41 16 14 41 16 5 39 17 30 41 17 14 41 17 6 41 18 30 41 18 14 41 18 6 41 19 31 43 19 14 41 19 6 41 20 31 43 20 14 41 20 6 41 21 31 43 21 15 42 21 6 41 22 31 43 22 15 42 22 7 42 23 32 44 23 15 42 23 7 42 24 32 44 24 15 42 24 7 42 25 32 44 25 15 43 25 7 42 26 32 44 26 16 44 26 7 42 27 33 45 27 16 44 27 8 43 28 33 45 28 16 44 28 8 44 29 33 45 29 16 44 29 8 44 30 33 45 30 16 44 30 8 44 31 34 47 31 16 44 31 8 44 32 34 47 32 17 45 32 8 44 33 34 47 33 17 45 33 8 44 34 34 47 34 17 45 34 9 45 35 35 48 35 17 45 35 9 45 36 35 48 36 17 45 36 9 45 37 35 48 37 18 46 37 9 45 38 35 48 38 18 46 38 9 45 39 35 48 39 18 46 39 10 46 40 36 49 40 18 46 40 10 47 41 36 49 41 19 48 41 10 47 42 36 49 42 19 48 42 10 47

Page 392 of 577




43 36 49 43 19 48 43 10 47 44 36 49 44 19 48 44 10 47 45 36 49 45 19 48 45 11 48 46 37 51 46 19 48 46 11 48 47 37 51 47 19 48 47 11 48 48 37 51 48 20 49 48 11 48 49 37 51 49 20 49 49 11 48 50 37 20 50 20 50 50 11 49 51 38 52 51 20 50 51 12 50 52 38 52 52 20 50 52 12 50 53 38 52 53 21 51 53 12 50 54 38 52 54 21 51 54 12 50 55 38 52 55 21 51 55 12 50 56 39 53 56 21 51 56 12 50 57 39 53 57 21 51 57 13 51 58 39 53 58 21 51 58 13 51 59 39 53 59 21 51 59 13 51 60 39 53 60 22 52 60 13 51 61 39 53 61 22 52 61 13 52 62 40 55 62 22 52 62 14 52 63 40 55 63 22 52 63 14 52 64 40 55 64 23 53 64 14 52 65 40 55 65 23 53 65 14 52 66 40 55 66 23 53 66 15 54 67 40 55 67 23 53 67 15 54 68 41 56 68 23 53 68 15 54 69 41 56 69 24 55 69 15 54 70 41 56 70 24 55 70 15 54 71 41 56 71 24 55 71 16 55 72 41 56 72 25 56 72 16 55 73 42 57 73 25 56 73 16 55 74 42 57 74 25 56 74 16 55 75 42 57 75 25 56 75 17 56

Page 393 of 577




76 42 57 76 26 58 76 17 57 77 42 57 77 26 58 77 17 57 78 43 59 78 26 58 78 17 57 79 43 59 79 26 58 79 17 57 80 43 59 80 27 59 80 18 58 81 43 59 81 27 59 81 18 58 82 43 59 82 28 60 82 18 58 83 44 60 83 28 60 83 19 60 84 44 60 84 28 60 84 19 60 85 44 60 85 29 62 85 19 60 86 44 60 86 29 62 86 20 61 87 45 61 87 29 62 87 20 61 88 45 61 88 30 63 88 21 62 89 45 61 89 30 63 89 21 62 90 46 62 90 31 65 90 22 64 91 46 62 91 31 65 91 22 64 92 46 62 92 31 65 92 23 65 93 46 62 93 32 66 93 23 66 94 46 62 94 32 66 94 24 67 95 47 64 95 33 68 95 26 70 96 47 64 96 34 69 96 27 71 97 48 65 97 34 69 97 28 73 98 49 66 98 36 72 98 29 75 99 50 68 99 37 73 99 31 77

The results from the AVMA-AAEP 2016 Survey of Equine Practitioners indicated that mean

ProQOL scores for burnout and secondary traumatic stress were in the lower normal range,

while compassion satisfaction was in the higher normal range. But these mean scores fail to

illustrate the number of respondents who were in the high range for burnout and secondary

traumatic stress. The results of the ProQOL sums were plotted against the percentage of

respondents.

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4.8.2.1 Compassion Satisfaction

The mean sum of Equine respondents’ compassion satisfaction was slightly higher than AVMA

respondents’: 37.5 vs. 36.4. The distribution of compassion satisfaction scores followed a

normal distribution in both the Equine and AVMA samples that was skewed left. The average

raw ProQOL score for compassion satisfaction is between 23 and 41 (average ProQOL score

around 50). Less than a 22 is considered a low score for compassion satisfaction. Several Equine

respondents reported higher levels of compassion satisfaction than did AVMA respondents

(Figure 131).

Figure 131: Distribution of Equine and AVMA Respondents’ Compassion Satisfaction Score

The mean compassion satisfaction score by graduation year increased with experience or years

from graduation. Equine respondents who graduated between 2012 and 2016 had a mean

score of 36.2, while those who graduated prior to 1967 had a mean score of 43.7 (Table 99).

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

0 5 10 15 20 25 30 35 40 45 50 55

% o

f Res

pond

ents

Compassion Satisfaction Score

Distribution of Respondents' Compassion Satisfaction Score


Average across all professions

Page 395 of 577



Table 99: Mean Equine and AVMA Respondents’ Compassion Satisfaction Score by Graduation Year

Equine AVMA

Obs. Mean Std. Dev. Min. Max. Obs. Mean Std. Dev. Min. Max. < 1967 6 43.7 3.4 40 50 59 39.3 6.4 21 50 1967-1976 49 40.6 6.0 26 50 102 39.1 6.0 24 50 1977-1986 118 39.9 6.3 24 50 173 39.1 6.2 23 50 1987-1996 134 38.3 6.3 20 50 334 37.8 6.4 21 50 1997-2006 141 37.3 6.3 23 50 591 35.8 6.9 14 50 2007-2011 163 35.7 6.8 16 50 473 35.4 6.8 12 50 2012-2016 189 36.2 5.9 12 50 557 35.3 6.2 16 50

The mean compassion satisfaction score between males and females was significantly different

for both Equine and AVMA samples (p-value < .001). For both samples the mean score was

higher for males than females (Table 100).

Table 100: Mean Equine and AVMA Respondents’ Compassion Satisfaction Score by Gender

Equine AVMA

Obs. Mean Std. Dev. Min Max Obs. Mean Std. Dev. Min. Max. Male 326 38.7 6.7 16 50 733 37.3 6.7 14 50 Female 480 36.6 6.2 12 50 1,583 35.9 6.6 12 50

The mean compassion satisfaction score was significantly different between Equine

respondents who participated in an internship and those who did not (p-value < .001), but it

was not significant for the AVMA sample, whose scores for intern participants and non-intern

participants were almost identical. Because older practitioners rarely did internships and

younger equine veterinarians often did, the following mean compassion satisfaction is broken

out by internship and year of graduation. Among the Equine respondents who participated in

an internship and who did not participate in an internship, the mean score increased the longer

the respondents have been out of veterinary school, with Equine respondents who did not

participate in an internship having a higher mean compassion satisfaction score. Among the

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AVMA sample, they reveal a similar distribution of mean compassion satisfaction increasing the

longer a respondent has been out of veterinary college (Table 101).

Table 101: Mean Equine and AVMA Respondents’ Compassion Satisfaction Score by Internship

Equine Obs. Mean Std. Dev. Min. Max.

With Internship 0-5 years 148 36.29 5.59 23 49 6-10 years 121 35.35 6.70 16 50 11-20 years 90 36.56 6.30 23 49 21-30 years 58 38.02 6.94 21 50 31 or more years 46 39.59 5.62 26 50

No Internship Obs. Mean Std. Dev. Min. Max. 0-5 years 41 35.68 7.07 12 50 6-10 years 42 36.52 7.25 21 50 11-20 years 51 38.73 6.00 23 50 21-30 years 76 38.51 5.81 20 50 31 or more years 127 40.45 6.34 24 50

Page 397 of 577



AVMA Obs. Mean Std. Dev. Min. Max.



In terms of ownership status, the results indicated that for both AVMA and Equine samples

practice owners had a higher mean compassion satisfaction score than associates. The mean

score for Equine respondent owners was 39 vs. 36.2 for Equine respondent associates. The

AVMA sample yielded a mean score of 38.4 for owners and 35.4 for associates. Differences in

both samples were statistically significant at p-value <.001 (Table 102).

Table 102: Mean Equine and AVMA Respondents’ Compassion Satisfaction Score by Practice Ownership

Equine AVMA

Obs. Mean Std. Dev. Min. Max. Obs. Mean Std. Dev. Min. Max. Owner 323 39.0 6.3 23 50 408 38.4 6.2 21 50 Associate 255 36.2 6.5 12 50 1,066 35.4 6.7 12 50

Differences were found to be statistically significant between board- and non-board-certified

respondents in both the Equine and AVMA samples (Equine: p-value = .016; AVMA: p-value

=.027). In the Equine sample, non-board certified respondents had a higher mean compassion

satisfaction score than board-certified respondents, compared to the AVMA sample where

Page 398 of 577



board-certified respondents had a higher mean score than non-board-certified respondents

(Table 103).

Table 103: Mean Equine and AVMA Respondents’ Compassion Satisfaction Score by Board Certification

Equine AVMA

Obs. Mean Std. Dev. Min. Max. Obs. Mean Std. Dev. Min. Max. Board Certified

142 36.3 6.6 18 50 335 37.1 6.5 18 50

Non-Board Certified

666 37.7 6.4 12 50 1,984 36.3 6.7 12 50

Page 399 of 577



The mean compassion satisfaction score increased with level of income. Scores were typically

lower for lower income categories but then increased along with income (Table 104).

Table 104: Mean Equine and AVMA Respondents’ Compassion Satisfaction Score by Professional Income

Equine AVMA

Obs. Mean Std. Dev. Min. Max. Obs. Mean Std. Dev. Min. Max. $20,000 to $29,999

31 37.7 6.1 24 50 59 37.1 6.1 22 50

$30,000 to $39,999

29 36.4 8.3 12 50 87 35.6 6.8 19 49

$40,000 to $49,999

49 37.6 4.8 26 48 110 35.4 6.7 19 50

$50,000 to $59,999

45 35.3 6.7 18 50 129 35.8 6.2 21 50

$60,000 to $69,999

74 36.1 6.8 20 50 213 35.3 6.6 12 50

$70,000 to $79,999

85 35.5 6.4 16 50 248 35.3 6.7 16 50

$80,000 to $89,999

62 37.0 6.4 19 50 241 35.9 6.2 18 50

$90,000 to $99,999

39 36.5 7.1 20 50 163 35.8 6.7 16 50

$100,000 to $124,999

111 37.5 6.9 21 50 310 36.6 7.2 16 50

$125,000 to $149,999

48 39.1 4.9 28 50 153 36.8 6.2 19 50

$150,000 to $174,999

47 39.1 5.5 26 50 81 38.7 6.3 22 50

$175,000 to $199,999

22 40.4 5.6 30 50 48 38.9 6.0 27 50

$200,000 to $249,999

22 41.1 5.9 30 50 83 38.6 6.0 24 50

$250,000 to $500,000

42 40.9 5.9 25 50 77 38.3 6.8 21 50

> $500,000 6 43.3 3.5 40 50 19 39.4 6.2 27 50

Respondents who currently had veterinary educational debt had a lower mean satisfaction

compassion score than those respondents, both Equine and AVMA, who did not currently have

Page 400 of 577



such debt. Mean score differences among those who currently owed and those who did not

currently owe in both samples were statistically significant (p-value < .001) (Table 105).

Table 105: Mean Equine and AVMA Respondents’ Compassion Satisfaction Score by Veterinary Educational Debt

Equine AVMA

Obs. Mean Std. Dev. Min. Max. Obs. Mean Std. Dev. Min. Max. Currently Owe 344 35.9 6.5 12 50 1,171 35.3 6.8 12 50 Do not currently owe

269 39.0 6.3 20 50 677 37.4 6.6 12 50

Within the primary equine sectors of AAEP respondents, the lowest mean compassion

satisfaction score was reported by respondents in equine companion (36.8) and reproductive

(36.8) sectors. The highest mean score was reported by respondents in the Standardbred racing

sector (40.9), followed closely by respondents in the Western performance sector (40.5) (Table

106).

Table 106: Mean AAEP Respondents’ Compassion Satisfaction Score by Primary Equine Sector48

AAEP

Obs. Mean Std. Dev. Min. Max. English performance 80 38.4 6.1 21 50 Equine companion 25 36.8 7.0 24 50 Racing - Quarter Horse 5 38.4 8.0 30 50 Racing - Standardbred 7 40.9 7.0 29 50 Racing - Thoroughbred 27 37.4 7.4 24 50 Reproductive 29 36.8 7.8 20 50 Ranch or working 9 39.4 5.7 30 48 Western performance 17 40.5 5.9 30 50 General equine 317 37.8 6.5 12 50

Examining compassion satisfaction by the primary business model of AAEP respondents

revealed the lowest mean compassion satisfaction score was reported by respondents working


Page 401 of 577



in a haul-in only facility (35.7). The highest mean score was reported by respondents in an

ambulatory practice with haul-in facility (38.4) (Table 107).

Table 107: Mean AAEP Respondents’ Compassion Satisfaction Score by Business Model

AAEP

Business Model Obs. Mean Std. Dev. Min. Max. Ambulatory 190 37.6 6.5 21 50 Ambulatory with Haul-in facility 183 38.4 6.7 12 50 Haul-in only facility 7 35.7 6.7 27 44 Specialty/referral hospital-Limited service (e.g., no colic surgery, isolation, neonatology)

12 38.2 7.0 21 49

Specialty/referral hospital-Full service 9 37.8 7.4 26 50 Specialty/referral hospital-Limited service with ambulatory division

15 38.1 6.5 28 48

Specialty/referral hospital-Full service with ambulatory division

83 38.2 6.5 20 50

Other 20 37.7 7.2 24 50

Factors Affecting Compassion Satisfaction

To examine what factors were associated with low compassion satisfaction, a multiple linear

regression was conducted with the variables thought might contribute to the variation in

compassion satisfaction. Variables that are significant at the 10 percent, 5 percent and 1

percent level are reported in explaining the factors affecting compassion satisfaction. The main

factors under observation were: satisfaction with current employment, how well a

respondent’s education prepared them to become a veterinarian, professional income, current

debt, hours worked per week, gender, year of graduation, community size in which a

respondent practices, compensation method, internship and residency participation, board

certification, practice ownership, and marital status. Additional variables were added to the

AAEP model to investigate what equine-specific factors influenced compassion satisfaction,

Page 402 of 577



such as practice type and business model and sector. Additional variables in the AVMA model

included type of employment.

To avoid statistical errors, baseline variables are used to compare with other variables in

respective groups. The baseline variables were: community size of 50,001 to 500,000 residents

in the AAEP model and 2,500 to 49,999 in the AVMA model, and salary compensation method.

Specific AAEP sample baseline variables were: general equine practice sector and ambulatory

practice business model, and for the AVMA sample, companion animal practice.

The coefficient in Table 108 indicates a positive or negative association with compassion

satisfaction, and the impact on the increase or decrease of a variable’s score. An AAEP

respondent who is not married has a coefficient of -1.60, for example, meaning that there is a

negative association with compassion satisfaction compared to a married respondent; for a

respondent who is single, compassion satisfaction on average decreases by 1.60.


as p-values, are such that for a “sig” less than 0.10, the coefficient is statistically different from

“0.” For AAEP respondents who work in a community size of 500,001 or more residents, for

instance, the p-value is 0.06; this means it is statistically significantly different from the baseline

working in a community with 50,001 to 500,000 residents.

The results of this analysis indicate that several factors in both samples were statistically

significant. In the AAEP sample, private practice owned by a single veterinarian, participation in

an internship, practice ownership, and not married were found to have a negative association

with compassion satisfaction, while being satisfied with employment, feeling prepared from

veterinary education, serving an area with 501,000 or mores residents, and working in an

ambulatory with haul-in facility practice were positively associated with compassion

Page 403 of 577



satisfaction. Among the AVMA sample, being satisfied with employment, feeling prepared from

veterinary education, working in non-veterinary employment and in advanced education had a

positive association with compassion satisfaction, while current veterinary educational debt,

serving an area with 500,000 or more residents, being compensated on an hourly basis, and

working in the federal government revealed a negative association with compassion

satisfaction.



factors was able to explain 29 percent and 33 percent of the variation between the individually

reported compassion satisfaction score and the estimated mean compassion. Thus, there are

important variables that determine compassion satisfaction that have not been included and

are due to other unobservable factors.

Page 404 of 577



Table 108: Factors Affecting Compassion Satisfaction


Satisfied with current employment (5=Extremely satisfied/1=Not at all satisfied) 2.170 0.363 0.00*** Education Preparation (5=Extremely well/1=Not well at all) 1.820 0.432 0.00*** Income 0.000 0.000 0.26 Currently owe debt (Yes=1) -1.297 0.926 0.16 Hours worked per week -0.007 0.012 0.53 Graduation Year 0.047 0.044 0.29 Gender (Female=1) 0.433 0.794 0.59 Under 2,500 residents 0.026 1.242 0.98 2,501 to 10,000 residents -0.345 1.001 0.73 10,001 to 25,000 residents -0.274 0.965 0.78 25,001 to 50,000 residents 1.131 1.018 0.27 50,001 to 500,000 residents (baseline) Omitted 501,000 or more residents 1.901 0.992 0.06* Private practice owned by a single veterinarian (Yes=1) -2.525 0.704 0.00*** Private practice/private corporation (baseline) Omitted Salary (baseline) Omitted Hourly or per diem -0.353 2.351 0.88 Production only -0.762 1.109 0.49 Salary with production-based incentive 0.019 0.943 0.98 Salary without production-based incentive 1.993 2.790 0.48 Owner with no differentiation 0.006 1.160 1.00 Owner with differentiation 0.865 1.329 0.52 Other method -2.498 1.976 0.21 Internship (Yes=1) -1.336 0.708 0.06* Residency (Yes=1) -0.002 1.405 1.00 Board Certified (Yes=1) -1.612 1.467 0.27 Practice Ownership (Yes=1) -1.719 0.964 0.08* General equine (baseline) Omitted

Working 0.610 2.544 0.81 English performance 0.576 0.910 0.53 Companion -1.393 1.427 0.33 Quarter Horse racing 3.357 3.018 0.27 Standardbred racing 2.051 2.906 0.48

Page 405 of 577



Thoroughbred racing -0.551 1.551 0.72 Reproductive 2.091 1.454 0.15 Western performance 2.285 1.712 0.18 Ambulatory (baseline) Omitted

Ambulatory with haul-in facility 1.325 0.757 0.08* Haul-in only 0.463 2.795 0.87 Specialty/referral - limited service hospital 2.155 2.354 0.36 Specialty/referral - full service hospital 1.927 2.513 0.44 Specialty/referral - limited service hospital with ambulatory -0.445 2.058 0.83 Specialty/referral - full service hospital with ambulatory 1.587 1.006 0.12 Other business model 0.334 1.877 0.86 Not Married (Yes=1) -1.600 0.729 0.03** Constant 23.119 2.660 0.00***

Observations 365





Satisfied with current employment (5=Extremely satisfied/1=Not at all satisfied) 3.337 0.179 0.00*** Education Preparation (5=Extremely well/1=Not well at all) 1.715 0.217 0.00*** Income 0.000 0.000 0.11 Currently owe debt (Yes=1) -1.162 0.464 0.01*** Hours worked per week -0.014 0.012 0.25 Graduation Year -0.004 0.026 0.89 Gender (Female=1) -0.120 0.392 0.76 Under 2,500 residents -0.508 0.789 0.52 2,500 to 49,999 residents (baseline) Omitted 50,000 to 499,999 residents -0.496 0.380 0.19 500,000 or more residents -0.871 0.482 0.07* Companion animal (baseline) Omitted Food Animal 0.485 1.026 0.64

Page 406 of 577



Equine 0.331 0.794 0.68 Mixed Animal 1.021 0.664 0.12 Federal Government -7.876 3.216 0.01*** College/University 2.039 2.773 0.46 State/Local Government 0.079 2.762 0.98 Industry/Commercial -3.544 2.468 0.15 Not-for-profit -2.166 1.965 0.27 Advanced education 3.089 1.340 0.02** Other Vet Employment 0.774 1.175 0.51 Non-Vet Employment 6.086 3.184 0.06* Salary (baseline) Omitted Hourly -1.935 0.738 0.01*** Production only 0.599 0.599 0.32 Mix of salary with opportunity for production-based compensation 0.089 0.397 0.82 Owner withdrawals -0.968 0.645 0.13 Internship (Yes = 1) -0.254 0.443 0.57 Residency (Yes = 1) -0.186 1.161 0.87 Board Certified (Yes=1) -0.252 1.072 0.81 Practice Ownership (Yes=1) 0.454 0.568 0.42 Not Married (Yes=1) -0.094 0.368 0.80 Constant 19.132 1.356 0.00***

Observations 1,182




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4.8.2.2 Burnout

The mean sum of Equine respondents’ burnout score was a little less than the AVMA

respondents: 24.8 vs. 27.0. The average raw ProQOL score for burnout is between 23 and 41

(average ProQOL score around 50). The burnout scores from both the Equine and AVMA

samples were normally distributed with the mean at the low end of the normal range.

However, 5.8 percent of Equine respondents (AVMA: 9.2 percent) had scores in excess of 35

(Figure 132). A score above 35 on the burnout scale may suggest a need to seek help to deal

with the factors that are causing burnout.

Figure 132: Distribution of Equine and AVMA Respondents’ Burnout Score

The mean burnout score by graduation year decreased with experience or years since

graduation. Equine respondents who graduated between 2012 and 2016 had a mean score of

26.4, which increased among respondents who graduated in 2007-2011 (27.1). Those who

graduated prior to 1967 had a mean score of 19 (Table 109).

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

0 5 10 15 20 25 30 35 40 45 50

% o

f Res

pond

ents

Burnout Score

Distribution of Respondents' Burnout Score



Page 408 of 577



Table 109: Mean Equine and AVMA Respondents’ Burnout Score by Graduation Year

Equine AVMA


The mean burnout score between males and females was significantly different for both the

Equine and AVMA samples (p < .001). For both samples the mean score was lower for males

than it was for females (Table 110).

Table 110: Mean Equine and AVMA Respondents’ Burnout Score by Gender

Equine AVMA

Obs. Mean Std. Dev. Min. Max. Obs. Mean Std. Dev. Min. Max. Male 327 22.9 6.0 10 40 738 24.9 6.0 12 44 Female 480 26.2 6.1 13 42 1,582 27.9 5.8 14 45

The mean burnout score was significantly different between Equine and AVMA respondents

who participated in an internship and those who did not participate in an internship (Equine: p

< .001; AVMA: p = .021). The mean burnout score for internship participation is examined by

graduation year, as internship participation rates have increased in more recent years. Overall,

in both samples (those respondents who participated in an internship and those who did not),

burnout score on average decreased the longer a respondent was out of veterinary school. The

average burnout score among AVMA respondents was a little higher than AAEP respondents

(Table 111).

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Table 111: Mean Equine and AVMA Respondents’ Burnout Score by Internship







For both the Equine and AVMA samples, practice owners had a lower mean burnout score than

did associates. The mean score for Equine respondent owners was 23.5 vs. 26.4 for Equine

Page 410 of 577



respondent associates. The AVMA sample yielded a mean score of 25.9 for owners and 28.2 for

associates. The AAEP and AVMA samples’ ownership status with respect to burnout score were

statistically significant at p < .001 (Table 112).

Table 112: Mean Equine and AVMA Respondents’ Burnout Score by Practice Ownership

Equine AVMA


Burnout scores were significant between board-certified and non-board-certified respondents

in the AVMA sample (p<.001) but not in the Equine sample (Table 113).

Table 113: Mean Equine and AVMA Respondents’ Burnout Score by Board Certification

Equine AVMA


142 25.4 6.4 11 42 343 25.7 6.0 13 44

Non-Board Certified

667 24.7 6.3 10 42 1,979 27.2 6.0 12 45

Page 411 of 577



The mean burnout score decreased with the level of income of Equine and AVMA respondents.

The trend showed that scores were typically higher for lower income categories but decreased

as the income categories got larger; also the mean of Equine respondents tended to be lower

than AVMA respondents (Table 114).

Table 114: Mean Equine and AVMA Respondents’ Burnout Score by Professional Income

Income Equine AVMA


30 25.6 6.3 13 40 59 26.7 5.8 17 43

$30,000 to $39,999

31 24.4 6.7 15 37 84 28.2 5.7 14 40

$40,000 to $49,999

49 26.3 5.2 15 37 109 27.5 5.6 16 41

$50,000 to $59,999

45 27.5 7.1 15 41 129 27.9 5.4 16 42

$60,000 to $69,999

74 26.9 6.0 14 42 212 28.3 5.5 18 44

$70,000 to $79,999

86 27.0 6.5 13 42 245 28.3 5.9 13 41

$80,000 to $89,999

62 25.1 6.1 14 39 242 27.7 5.5 15 45

$90,000 to $99,999

38 23.8 5.6 13 35 163 27.3 5.5 12 42

$100,000 to $124,999

111 24.5 6.6 11 41 313 27.4 6.3 14 43

$125,000 to $149,999

49 24.3 5.5 12 38 153 27.8 6.1 17 44

$150,000 to $174,999

48 22.4 5.8 11 38 81 24.5 5.4 13 37

$175,000 to $199,999

22 22.6 5.4 13 33 48 24.1 5.2 17 44

$200,000 to $249,999

21 21.9 4.5 14 31 86 25.2 5.9 14 39

$250,000 to $500,000

41 20.1 4.8 10 33 76 25.7 6.1 15 41

> $500,000 6 18.2 3.4 13 23 19 23.6 6.4 14 37

Page 412 of 577



Respondents who had current veterinary educational load debt had a higher mean burnout

score than those respondents, both Equine and AVMA, who did not currently owe any

veterinary educational debt. Those who currently owed and who did not currently owe in the

AAEP and AVMA samples were statistically significant with respect to burnout score (p < .010)

(Table 115).

Table 115: Mean Equine and AVMA Respondents’ Burnout Score by Veterinary Educational Debt

Equine AVMA

Obs. Mean Std. Dev. Min. Max. Obs. Mean Std. Dev. Min. Max. Currently Owe

346 26.7 6.2 12 42 1,173 28.5 5.9 14 44

Do not currently owe

269 23.2 6.1 11 42 677 25.8 5.7 13 45

Within the primary equine sectors of AAEP respondents, the lowest mean burnout score was

reported by respondents in Western performance (20.8). The highest mean score was reported

by respondents in the equine companion sector (26.8) (Table 116).

Table 116: Mean AAEP Respondents’ Burnout Score by Primary Equine Sector

AAEP

Obs. Mean Std. Dev. Min Max English performance 80 24.7 6.1 13 40 Equine companion 24 26.8 8.4 15 42 Racing - Quarter Horse 5 22.6 7.1 13 30 Racing - Standardbred 7 22.4 8.6 13 38 Racing - Thoroughbred 27 23.7 6.5 14 41 Reproductive 30 24.0 5.2 14 34 Ranch or working 9 25.3 4.9 18 32 Western performance 17 20.8 5.1 12 32 General equine 318 24.5 6.3 10 42

Within the primary business model of AAEP respondents, the lowest mean burnout score was

reported by respondents working in a full-service specialty/referral hospital with ambulatory

Page 413 of 577



division (23.8). The highest mean score was reported by respondents in a haul-in only facility

(25.9) (Table 117).

Table 117: Mean AAEP Respondents’ Burnout Score by Business Model

AAEP Obs. Mean Std. Dev. Min. Max.

Ambulatory 189 24.6 6.7 12 42 Ambulatory with Haul-in facility 182 24.3 6.2 10 42 Haul-in only facility 7 25.9 6.4 13 32 Specialty/referral hospital-Limited service (e.g., no colic surgery, isolation, neonatology)

12 24.6 6.6 17 36

Specialty/referral hospital-Full service 9 24.7 6.4 14 33 Specialty/referral hospital-Limited service with ambulatory division

15 25.3 6.9 17 40


84 23.8 6.0 11 41

Other 21 24.9 6.4 14 36

Page 414 of 577



Factors Affecting Burnout

Using the same approach to examine the factors associated with burnout that was used with

compassion satisfaction, several factors were found to be statistically significant in both the

AAEP and AVMA samples. Factors associated with a lower burnout score (negative coefficient)

among AAEP respondents were: satisfaction with their current employment, a belief that their

education prepared them well for veterinary medicine, working in a private practice owned by

a single veterinarian, and working in Western and reproductive equine sectors. Among AVMA

respondents, these factors were: satisfaction with their current employment, believing that

their education prepared them well for veterinary medicine, graduation year (increased

experience), and working in mixed animal or food animal sectors or at a college/university.

Increased coefficients associated with burnout scores among AAEP respondents were: current

debt, hours worked (each additional hour worked adds .02 to burnout score), other form of

compensation, and internship participation. Among AVMA respondents, being female, hours

worked per week, and being a practice owner were correlated with higher mean levels of

burnout (Table 118).



factors was able to explain 29 percent and 30 percent of the variation between the individually

reported burnout score and the estimated mean burnout. Thus, there are important variables

that determine burnout that have not been included and are due to other unobservable

factors.

Page 415 of 577



Table 118: Factors Affecting Burnout


Satisfied with current employment (5=Extremely satisfied/1=Not at all satisfied) -1.971 0.358 0.00*** Education Preparation (5=Extremely well/1=Not well at all) -0.966 0.426 0.02** Income 0.000 0.000 0.28 Currently owe debt (Yes=1) 1.994 0.910 0.03** Hours worked per week 0.023 0.012 0.05** Graduation Year -0.035 0.044 0.42 Gender (Female=1) 0.447 0.779 0.57 Under 2,500 residents 0.074 1.224 0.95 2,501 to 10,000 residents 1.303 0.987 0.19 10,001 to 25,000 residents 0.495 0.954 0.60 25,001 to 50,000 residents 0.028 1.000 0.98 50,001 to 500,000 residents (baseline) Omitted 501,000 or more residents -1.012 0.979 0.30 Private practice owned by a single veterinarian -1.757 0.694 0.01*** Private practice/private corporation (baseline) Omitted Salary (baseline) Omitted Hourly or per diem -1.502 2.352 0.52 Production only -0.839 1.099 0.45 Salary with production-based incentive 0.044 1.038 0.97 Salary without production-based incentive -3.255 2.776 0.24 Owner with no differentiation 0.855 1.124 0.45 Owner with differentiation -1.123 1.262 0.37 Other compensation method 4.845 1.971 0.01*** Internship (Yes=1) 1.632 0.698 0.02** Residency (Yes=1) 0.144 1.384 0.92 Board Certified (Yes=1) 0.327 1.446 0.82 Practice Ownership (Yes=1) 1.467 0.959 0.13 General equine (baseline) Omitted

Working 0.271 2.505 0.91 English performance 0.606 0.897 0.50 Companion 1.849 1.444 0.20 Quarter Horse racing -4.742 2.973 0.11 Standardbred racing 0.835 2.863 0.77

Page 416 of 577



Thoroughbred racing 0.063 1.529 0.97 Reproductive -3.792 1.432 0.01*** Western performance -4.111 1.686 0.02** Ambulatory (baseline) Omitted

Ambulatory with haul-in facility -0.184 0.749 0.81 Haul-in only 2.614 2.754 0.34 Specialty/referral - limited service hospital 0.804 2.319 0.73 Specialty/referral - full service hospital 1.767 2.476 0.48 Specialty/referral - limited service hospital with ambulatory 2.073 2.029 0.31 Specialty/referral - full service hospital with ambulatory -0.846 0.991 0.39 Other business model 0.791 1.850 0.67 Not Married (Yes=1) 1.127 0.718 0.12 Constant 34.242 2.716 0.00***

Observations 364





Satisfied with current employment (5=Extremely satisfied/1=Not at all satisfied) -2.739 0.154 0.00*** Education Preparation (5=Extremely well/1=Not well at all) -0.892 0.187 0.00*** Income 0.000 0.000 0.79 Currently owe debt (Yes=1) 0.323 0.394 0.41 Hours worked per week 0.073 0.010 0.00*** Graduation Year -0.068 0.022 0.00*** Gender (Female=1) 1.110 0.340 0.00*** Less than 2,500 residents -0.290 0.684 0.67 2,500 to 49,999 residents (baseline) Omitted 50,000 to 499,999 residents 0.235 0.327 0.47

Page 417 of 577



500,000 or more residents 0.129 0.408 0.75 Companion animal (baseline) Omitted Food Animal -1.896 0.918 0.04** Equine -0.810 0.707 0.25 Mixed Animal -1.146 0.592 0.05** Federal Government 3.134 1.772 0.08 College/University -2.143 1.300 0.10* State/Local Government 0.062 2.026 0.98 Industry/Commercial -0.623 1.659 0.71 Not-for-profit -0.416 1.506 0.78 Advanced education -1.070 1.146 0.35 Other Vet Employment -0.451 0.943 0.63 Non-Vet Employment -1.005 2.214 0.65 Salary (baseline) Omitted Hourly 0.207 0.542 0.70 Production only -0.710 0.527 0.18 Mix of salary with opportunity for production-based compensation 0.230 0.349 0.51 Owner withdrawals -0.360 0.561 0.52 Internship (Yes=1) -0.258 0.376 0.49 Residency (Yes=1) -0.567 1.014 0.58 Board Certified (Yes=1) 0.994 0.943 0.29 Practice Ownership (Yes=1) 1.147 0.485 0.02** Not Married (Yes=1) 0.022 0.317 0.95 Constant 37.544 1.154 0.00*** Observations 1,291 Adjusted R-Square 0.2979



Page 418 of 577



4.8.2.3 Secondary Traumatic Stress

Secondary traumatic stress scores had a similar distribution to that of the burnout scores. The

mean secondary traumatic stress score of Equine respondents (21.2) was to the left of the low

end, however, and that of the AVMA respondents (23.1) was in the low end of the normal

range. The percent of respondents with a score above 35 (Equine: 1.6 percent; AVMA: 4.6) was

lower than for burnout. A score above 35 on the secondary traumatic stress scale may suggest

a need to seek help to deal with the factors that are causing secondary traumatic stress. The

average raw ProQOL score for secondary traumatic stress is between 23 and 41 (average

ProQOL score around 50) (Figure 133).

Figure 133: Distribution of Equine and AVMA Respondents’ Secondary Traumatic Stress Score

The mean compassion secondary traumatic stress score by graduation year decreased with

experience or years from graduation. Equine respondents who graduated between 2012 and

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

0 5 10 15 20 25 30 35 40 45 50

% o

f Res

pond

ents

Traumatic Stress Score

Distribution of Respondents' Secondary Traumatic Stress Score



Page 419 of 577



2016 had a mean score of 22.8 while those who graduated prior to 1967 had a mean score of

18.0 (Table 119).

Table 119: Mean Equine and AVMA Respondents’ Secondary Traumatic Stress Score by Graduation Year

Equine AVMA


The mean secondary traumatic stress score was significantly different between males and

females for both Equine and AVMA samples (p < .001). For both samples the mean score was

lower for males than for females (Table 120).

Table 120: Mean Equine and AVMA Respondents’ Secondary Traumatic Stress Score by Gender

Equine AVMA

Obs. Mean Std. Dev. Min. Max. Obs. Mean Std. Dev. Min. Max. Male 332 19.5 5.3 10 38 726 21.2 6.3 10 46 Female 492 22.4 5.7 8 40 1,578 24.0 6.6 10 47

The mean secondary traumatic stress score was significantly different between Equine

respondents who participated in an internship and those who did not participate in an

internship (p < .001), but the difference is not significant in the AVMA sample. The mean

secondary traumatic stress score for internship participation is examined by graduation year, as

internship participation rates have increased in more recent years. In both samples the

secondary traumatic stress score for respondents who participated in an internship and

respondents who did not decreased, on average, the longer a respondent was out of veterinary

school (Table 121).

Page 420 of 577



Table 121: Mean Equine and AVMA Respondents’ Secondary Traumatic Stress Score by Internship







In terms of ownership status, the results indicated that practice owners had a lower mean

secondary traumatic stress score than associates for both samples. The mean score for Equine

Page 421 of 577



respondent owners was 20.3 vs. 23.0 for Equine respondent associates. The AVMA sample

yielded a mean score of 22.2 for owners and 24.3 for associates. These differences in both

samples were statistically significant at p < .001 (Table 122).

Table 122: Mean Equine and AVMA Respondents’ Secondary Traumatic Stress Score by Practice Ownership

Equine AVMA


Respondents’ scores relative to board certification showed statistical significance between

board-certified and non-board-certified respondents in the AVMA sample (p<.001) but not in

the Equine sample (Table 123).

Table 123: Mean Equine and AVMA Respondents’ Secondary Traumatic Stress Score by Board Certification

Equine AVMA


146 20.9 6.3 10 40 340 21.4 6.4 10 45

Non-Board Certified

680 21.3 5.7 8 40 1,970 23.4 6.6 10 47

The mean secondary traumatic stress score of respondents decreased with level of income. The

trend showed that scores were typically higher for lower income categories but then decreased

as income level climbed (Table 124).

Page 422 of 577



Table 124: Mean Equine and AVMA Respondents’ Secondary Traumatic Stress Score by Professional Income

Income Equine AVMA


32 23.0 6.0 14 40 59 23.3 6.1 15 40

$30,000 to $39,999

31 20.7 4.6 13 33 88 24.4 7.0 12 43

$40,000 to $49,999

49 22.4 4.5 12 33 109 23.0 5.8 12 40

$50,000 to $59,999

46 23.0 7.0 8 38 128 23.9 6.3 12 44

$60,000 to $69,999

74 23.3 6.3 12 38 209 24.6 6.9 10 47

$70,000 to $79,999

87 23.3 6.2 12 38 245 24.3 6.5 11 42

$80,000 to $89,999

64 21.1 5.1 10 36 238 23.7 6.3 11 42

$90,000 to $99,999

39 20.3 5.6 12 35 164 23.5 6.8 11 46

$100,000 to $124,999

112 20.0 5.7 10 40 307 23.0 6.8 10 46

$125,000 to $149,999

50 21.3 6.2 11 40 152 23.1 6.4 11 41

$150,000 to $174,999

48 19.1 4.9 10 33 82 20.9 6.5 10 41

$175,000 to $199,999

22 19.6 4.7 11 29 48 21.8 6.8 11 45

$200,000 to $249,999

22 18.1 4.3 12 27 83 21.2 5.8 11 37

$250,000 to $500,000

44 18.1 4.8 11 30 77 22.2 6.5 11 38

> $500,000 7 17.7 3.7 13 24 19 20.9 5.6 12 31

Respondents who had current veterinary educational debt had a higher mean secondary

traumatic stress score than those respondents, both Equine and AVMA, who did not currently

have such debt. The difference between those who currently owed debt and those who did not

currently owe were statistically significant in both samples (p < .001) (Table 125).

Page 423 of 577



Table 125: Mean Equine and AVMA Respondents’ Secondary Traumatic Stress Score by Veterinary Educational Debt

Equine AVMA

Obs. Mean Std. Dev. Min. Max. Obs. Mean Std. Dev. Min. Max. Currently Owe

350 22.5 5.9 8 40 1,162 24.3 6.8 10 47

Do not currently owe

277 20.0 5.4 10 40 681 22.0 6.1 10 42

Within the primary equine sectors of AAEP respondents, the lowest mean secondary traumatic

stress score was reported by respondents in the Quarter Horse racing sector (17.0). The highest

mean score was reported by respondents in the ranch or working sector (22.7) and equine

companion sector (22.7) (Table 126).

Table 126: Mean AAEP Respondents’ Secondary Traumatic Stress Score by Primary Equine Sector


English performance 82 21.5 5.5 12 35 Equine companion 25 22.7 5.6 13 38 Racing - Quarter Horse 5 17.0 3.9 13 23 Racing - Standardbred 7 22.1 5.8 12 28 Racing - Thoroughbred 29 21.0 8.3 10 40 Reproductive 30 20.5 5.1 10 33 Ranch or working 9 22.7 5.6 12 29 Western performance 17 19.9 5.2 12 30 General equine 321 21.3 5.7 8 40

Within the primary business model of AAEP respondents, the lowest mean score was reported

by respondents in some other type of business model respondents reported working at the

race track, integrative therapies, and some other combination of business models followed

closely by respondents in a full-service specialty/referral hospital (20.9). The highest mean

score was reported by respondents in a limited-service specialty/referral hospital (23.1) (Table

127).

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Table 127: Mean AAEP Respondents’ Secondary Traumatic Stress Score by Business Model


Ambulatory 193 21.3 5.9 10 38 Ambulatory with Haul-in facility 187 21.2 5.4 8 38 Haul-in only facility 7 21.9 5.5 13 30 Specialty/referral hospital - Limited service (e.g., no colic surgery, isolation, neonatology)

12 23.1 7.2 14 40

Specialty/referral hospital - Full service 9 20.9 6.7 14 33 Specialty/referral hospital - Limited service with ambulatory division

15 21.1 6.3 12 30

Specialty/referral hospital - Full service with ambulatory division

84 21.4 5.9 12 40

Other 21 20.7 6.2 11 35

Page 425 of 577



Factors Affecting Secondary Traumatic Stress

Again, using the same approach to examine the factors associated with secondary traumatic

stress that was used with compassion satisfaction and burnout, several factors were found to

be statistically significant. Among AAEP respondents, owner compensation with no

differentiation between pay for effort as a veterinarian and pay as an owner, some other form

of compensation, were female, internship participation, and working in a limited-service

specialty/referral hospital correlated on average with greater secondary traumatic stress.

Respondents in the AVMA sample who worked more hours a week, were female, worked in

federal and state/local government, and mix of salary with oppurtunity for production-based

compensation, on average, greater secondary traumatic stress.

Factors identified with a lower secondary traumatic stress score among AAEP respondents were

satisfaction with current employment or working in the reproductive and Quarter Horse racing

sectors. Among AVMA respondents, satisfaction with current employment, respondents who

felt their education prepared them well for their career in veterinary medicine, and

respondents who had more veterinary experience (graduation year), on average, had lower

secondary traumatic stress scores (Table 128).



factors were able to explain 16 percent and 11 percent of the variation between the

individually reported secondary traumatic stress score and the estimated mean secondary

traumatic stress. Thus, there are important variables that determine secondary traumatic stress

that have not been included, and are due to other unobservable factors.

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Table 128: Factors Affecting Secondary Traumatic Stress


Satisfied with current employment (5=Extremely satisfied/1=Not at all satisfied) -1.171 0.350 0.00*** Education Preparation (5=Extremely well/1=Not well at all) 0.040 0.413 0.92 Income 0.000 0.000 0.19 Currently owe debt (Yes=1) 1.272 0.885 0.15 Hours worked per week 0.013 0.012 0.26 Graduation Year -0.015 0.043 0.73 Gender (Female=1) 1.413 0.763 0.07* Under 2,500 residents 0.075 1.189 0.95 2,501 to 10,000 residents 1.131 0.960 0.24 10,001 to 25,000 residents -0.019 0.930 0.98 25,001 to 50,000 residents 0.405 0.977 0.68 50,001 to 500,000 residents (baseline) Omitted 501,000 or more residents 0.081 0.952 0.93 Private practice owned by a single veterinarian -0.620 0.674 0.36 Private practice/private corporation (baseline) Omitted Salary (baseline) Omitted Hourly or per diem 2.319 2.248 0.30 Production only 1.012 1.070 0.35 Salary with production-based incentive 0.649 0.909 0.48 Salary without production-based incentive -4.123 2.984 0.17 Owner with no differentiation 2.107 1.113 0.06* Owner with differentiation -0.528 1.280 0.68 Other compensation method 5.780 1.891 0.00*** Internship (Yes=1) 1.119 0.683 0.10* Residency (Yes=1) -1.075 1.345 0.43 Board Certified (Yes=1) 0.034 1.403 0.98 Practice Ownership (Yes=1) 0.008 0.941 0.99 General equine (baseline) Omitted Working -2.416 2.433 0.32 English performance 0.463 0.889 0.60 Companion 0.257 1.365 0.85 Quarter Horse racing -5.119 2.918 0.08* Standardbred racing 2.351 2.778 0.40

Page 427 of 577



Thoroughbred racing 1.991 1.488 0.18 Reproductive -3.406 1.430 0.02** Western performance -1.955 1.637 0.23 Ambulatory (baseline) Omitted Ambulatory with haul-in facility 0.492 0.730 0.50 Haul-in only 2.123 2.674 0.43 Specialty/referral - limited service hospital 4.633 2.269 0.04** Specialty/referral - full service hospital 3.066 2.415 0.21 Specialty/referral - limited service hospital with ambulatory 1.379 1.969 0.48 Specialty/referral - full service hospital with ambulatory 0.203 0.969 0.83 Other business model -0.554 1.870 0.77 Not Married (Yes=1) 0.625 0.701 0.37 Constant 23.046 2.609 0.00*** Observations 361 Adjusted R-Square 0.1600




Satisfied with current employment (5=Extremely satisfied/1=Not at all satisfied) -1.550 0.194 0.00*** Education Preparation (5=Extremely well/1=Not well at all) -0.878 0.235 0.00*** Income 0.000 0.000 0.59 Currently owe debt (Yes=1) -0.109 0.494 0.83 Hours worked per week 0.057 0.013 0.00*** Graduation Year -0.069 0.027 0.01*** Gender (Female=1) 1.331 0.426 0.00*** Less than 2,500 residents -0.151 0.863 0.86 2,500 to 49,999 residents (baseline) Omitted 50,000 to 499,999 residents -0.186 0.410 0.65 500,000 or more residents -0.008 0.510 0.99 Companion animal (baseline) Omitted Food Animal -1.719 1.165 0.14 Equine -1.019 0.885 0.25

Page 428 of 577



Mixed Animal -1.093 0.741 0.14 Federal Government 3.693 2.214 0.10* College/University -1.236 1.625 0.45 State/Local Government 4.229 2.532 0.10* Industry/Commercial 0.741 2.073 0.72 Not-for-profit -2.372 1.882 0.21 Advanced education 0.158 1.433 0.91 Other Vet Employment 0.169 1.162 0.88 Non-Vet Employment -2.563 2.766 0.35 Salary (baseline) Omitted Hourly -0.062 0.677 0.93 Production only -0.159 0.658 0.81 Mix of salary with opportunity for production-based compensation 0.777 0.438 0.08* Owner withdrawals 0.014 0.705 0.98 Internship (Yes=1) -0.177 0.472 0.71 Residency (Yes=1) -0.938 1.257 0.46 Board Certified (Yes=1) 0.674 1.181 0.57 Practice Ownership (Yes=1) 0.631 0.609 0.30 Not Married (Yes=1) -0.200 0.397 0.61 Constant 30.172 1.452 0.00***

Observations 1,284




Page 429 of 577



In addition to the ProQOL questions, respondents were asked similar questions that were

specifically tailored to the equine veterinarian regarding their quality of life. The results are

presented in the context of the gender of the respondents (Table 129). For each question, the

mean rank (1 = never, 2 = rarely, 3 = sometimes, 4 = often, and 5 = very often) is given along

with the standard deviation and significance between gender. The difference in means was

statistically significant in most cases, meaning that in this sample, female and male

veterinarians are affected differently by helping others.

Table 129: Mean AAEP Respondents’ Equine Quality of Life Questions by Gender

Male Female

N Mean Std. Dev N Mean Std. Dev Pr > |t|

I am often exhausted at the end of the day.

227 3.54 0.93 299 4.10 0.84 0.00***

I have difficulty staying organized with all that I need to do and remember.

228 2.97 0.95 299 3.52 1.06 0.00***

I feel l ike I am so busy that things fall through the cracks.

228 2.88 0.97 299 3.42 0.95 0.00***

I feel l ike I’m on a treadmill. 228 2.59 1.20 299 3.24 1.19 0.00***

I feel trapped by my job. 228 2.36 1.22 299 2.87 1.25 0.00***

I am exhilarated by my success in helping my patients and clients.

228 3.71 0.94 299 3.46 0.86 0.00***

I love learning new clinical skills and diagnostic techniques.

228 3.71 1.00 298 3.59 1.07 0.19

I feel fulfi l led when I can solve a patient’s difficult problem.

228 4.21 0.76 299 4.00 0.82 0.00***

Being on call for emergencies is stressful.

227 2.90 1.24 297 3.59 1.14 0.00***

Being on call for emergencies is affecting my most important relationships.

228 2.60 1.24 297 3.30 1.21 0.00***

I am happy when I can help a client and their horse through a frightening injury or i l lness.

227 4.04 0.80 296 3.93 0.79 0.10*

I am frequently tearful over minor things.

227 1.40 0.68 297 2.14 1.04 0.00***

I am frequently irritable with the practice staff.

228 2.37 0.94 297 2.62 1.03 0.01***

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I am frequently irritable with my family.

227 2.48 0.86 297 2.85 0.90 0.00***

I am proud of my contribution to the equine community.

228 3.79 0.92 297 3.48 0.86 0.00***

I look forward to going to work. 228 3.99 0.90 298 3.49 0.98 0.00***

When my phone rings I have a surge of adrenaline.

228 2.62 1.10 297 3.13 1.22 0.00***

I feel l ike I make a difference every day in my work.

228 3.62 0.90 298 3.30 0.86 0.00***

I love my job. 228 3.92 1.01 298 3.64 1.00 0.00***

My responsibilities frequently feel l ike too much pressure.

228 2.40 0.97 298 3.00 1.03 0.00***

I have been bull ied on social media as a result of my work as a veterinarian.

228 1.21 0.54 299 1.31 0.62 0.07*

Sometimes I am scared by my patients’ dangerous behavior.

228 1.90 0.75 298 2.29 0.77 0.00***

I worry about getting injured at work.

228 2.33 0.93 299 2.73 0.89 0.00***

I sometimes feel l ike my work has consumed my life.

228 2.89 1.18 299 3.50 1.15 0.00***

I wish I had time for doing something fun.

228 3.18 1.08 298 3.73 1.01 0.00***

I feel l ike I have no control over my life.

228 2.47 1.15 298 3.03 1.19 0.00***

I feel very satisfied by my work. 228 3.93 0.94 298 3.60 0.90 0.00***

I feel happy. 228 4.01 0.87 298 3.77 0.85 0.00***

I enjoy being around the people I work with.

227 4.12 0.75 298 3.82 0.83 0.00***

I feel supported by the people I work with.

227 4.13 0.86 298 3.72 0.96 0.00***

I spend time with good friends outside of my work l ife.

228 3.23 1.07 298 2.74 0.88 0.00***

I feel overwhelmed. 228 2.40 1.08 298 3.21 1.00 0.00***



Page 431 of 577



4.9 GEOGRAPHIC DISTRIBUTION OF EQUINE PRACTITIONERS

The geographic location of Equine respondents, AAEP members, and AVMA respondents who

provided their ZIP code is depicted in the next three figures. Respondents were spread across

the United States, with the exception of Equine respondents, who lacked a presence in Hawaii

and Alaska. Approximately 20 percent of Equine respondents were in the East Coast/Northeast

area of the United States, and approximately 56 percent were east of the Mississippi River

(Figure 134).

Concentration of Equine Respondents in the United States, 2016

Figure 134: Concentration of Equine Respondents in the United States, 2016

Page 432 of 577



While the Equine respondents are a subset of the overall AAEP membership, the concentration

of AAEP members, while larger, displays a similar pattern to the Equine respondents.

Approximately 18 percent of AAEP members reside on the East Coast/Northeast area of the

United States and approximately 48 percent of members are east of the Mississippi River

(Figure 135).

Concentration of AAEP Members in the United States, 2016

Figure 135: Concentration of AAEP Members in the United States, 2016

Equine respondent geographic concentration was compared to the AVMA respondent

concentration. Approximately 17 percent of AVMA respondents are in the East Coast/Northeast

region of the United States; approximately 48 percent of AVMA respondents are to the east of

the Mississippi River (Figure 136).

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Concentration of AVMA Respondents in the United States, 2016

Figure 136: Concentration of AVMA Respondents in the United States, 2016

All three groups showed a heavy concentration of veterinarians in certain areas of Northern

and Southern California, the Northwest in the coastal area of Oregon and Washington,

central/north Colorado, Texas, the coastal line of Florida, the Great Lakes area leading down to

central Kentucky, and areas in northern Georgia, eastern South Carolina, and North Carolina.

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SECTION 5: MARKET FOR VETERINARY SERVICES

The market for veterinary services is the third vertically-related market (in addition to the

market for education and the market for veterinarians) that functions independently but is

linked to the market for veterinarians through price. Clients are charged a fee for a service

provided by a veterinarian. Veterinary services are a normal good. That is, as income increases,

an individual’s propensity to purchase such goods increases, and as income decreases, that

individual is less likely to purchase such goods. As the demand for veterinary services increases,

the price of veterinary services increases in parallel, other things being equal. Conversely, a

decline in the number of clients, animals per client, or services demanded per animal will

typically reduce the aggregate demand for veterinary services and result in downward pressure

on the price for veterinary services.

While equine owners may demand veterinary services, they might not seek them from a

licensed veterinarian but instead may try to treat their animal themselves, or seek care from a

lay provider or other professional in the equine industry. In response to market forces, few

veterinarians seek to reduce costs through the utilization of veterinary technicians to perform

specific veterinary services. To add to the complexity of this market, not all veterinary services

are the same. Not only are there numerous types of services, but even the same service (e.g.,

castration, dental examination/treatment, physical examination) may differ among practices in

quality and/or price. No information was queried in this survey to determine if consumers are

able to differentiate quality differences in services provided.

In the 2012 AAEP Owner Trainer Survey, 86 percent of respondents said they used their primary

veterinarian for routine care/examinations. While half reported they used their primary

veterinarian for dental care (51 percent), another 26 percent reported that they used the

services of a non-veterinarian. 72 percent reported using their primary veterinarian for

Page 435 of 577



vaccinations in the past year, but 22 percent said they have used a non-veterinarian for that

service. Half reported that they administered all (23 percent) or some (27 percent) of their

horses’ vaccinations themselves. Among those, 79 percent said they did so in order to save

money. Veterinarians remain a leading supplier of medications for owners/trainers, but they

are not the only source. Nearly all of the respondents in this study reported they purchased

medications from their veterinarian in the past year (93 percent). However, half also said they

purchased medications on the internet (52 percent) and/or from a supply, tack, or western

store (51 percent). While 61 percent said they always go through their veterinarian to get

medications, nearly the same percentage said they seek ways to save money on medications

(53 percent). 35 percent reported that their veterinarian charges a higher price for medications

than other sources charge.

This section provides an overview of the supply of equines in the United States. Data used in

this section are from the U.S. Department of Agriculture Census of Agriculture, the USDA

Equine Health Report of 2015 and estimates made from the AVMA Pet Demographic Surveys.

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5.1 SUPPLY OF EQUIDS IN THE UNITED STATES

The most recent Census of Agriculture (2012) reported 292,590 mules, burros and donkeys

(Figure 137), and 3,621,348 farm horses and ponies (Figure 138) in the United States. Numbers

from the USDA Census of Agriculture refer only to equids that were considered property, and

from which farm proprietors generated at least $1,000 of income, so this database covers only

horses living on certain types of commercial farms.

Figure 137: Total Number of Farm Mules, Burros and Donkeys in the United States 49

49 Source: USDA Census of Agriculture, 1969-2012

66,128

292,590

34,309

98,379

- 50,000

100,000 150,000 200,000 250,000 300,000 350,000

1969 1974 1978 1982 1987 1992 1997 2002 2007 2012

# of

Mul

es, B

urro

s and

Don

keys

Year

Total Number of Farm Mules, Burros and Donkeys in the United States

Mules, burros and donkeys Number of farms

Page 437 of 577



Figure 138: Total Number of Farm Horses and Ponies in the United States 50

The number of pet horses was obtained from the 1981-2016 AVMA Pet Demographic Surveys

(PDS). “The primary focus of the survey was to collect data about the numbers of pets owned as

of December 31, 2016 by household type to estimate pet populations. Because the data were,

as usual, collected from a sample of households, the results are not a census of pet populations.

Estimates based on a sample are always subject to sampling error” (AVMA, 2017). According to

horse pet population estimates from the most recent of these surveys, the 2016 PDS dataset

estimated 1.9 million U.S. pet horses at the end of December 31, 2016 (Figure 139). There was a

new survey data collection and analysis approach for 2016, which implies that the previous PDS

numbers are no longer directly comparable. “The AVMA is aware of the widely divergent

estimated rates of pet ownership and pet populations in the United States. There are three

main reasons: one, non-representative respondents (‘convenience sampling’), two, no

correction to achieve representativeness (no ‘weighting’), and three, including invalid and

erroneous responses (no ‘screening’)” (AVMA, 2017).

50 Source: USDA Census of Agriculture, 1969-2012

1,595,024 3,621,348

347,797 504,795

-

1,000,000

2,000,000

3,000,000

4,000,000

5,000,000

1969 1974 1978 1982 1987 1992 1997 2002 2007 2012

# of

Hor

ses

and

Poni

es

Year

Total Number of Farm Horses and Ponies in the United States

Horses and ponies Number of farms

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Figure 139: Total Number of Pet Equids in the United States, 1981-201651

In 2005, the American Horse Council estimated the horse population at 9.2 million, after which

the country experienced an economic recession and the number of horses in the United States

decreased. In 2014, a separate study (the Brakke Equine Mega Study) reported an estimated

U.S. horse population of 6 million. In 2017, the American Horse Council estimated the horse

population at 7.2 million.

5.1.1 Number of Equine-Pet-Owning Households

The 2016 Pet Demographic dataset estimated the number of equine pet-owning households at

the end of 2016 was less than one million (893,152) (Figure 140). These equine pet owners,

who may also be called “backyard” horse owners, are affected by changes in the economy, with

services purchased by horse owners fluctuating in relation to disposable household income. In

51 Source: AVMA Pet Demographic Surveys, 1981-2016

7,000,000

4,000,000

7,300,000

1,914,000 -

1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 6,000,000 7,000,000 8,000,000

1981 1987 1992 1997 2002 2007 2012 2016

# of

Equ

ids

Year

Total Number of Pet Equids in the U.S., 1981-2016

Pet Demographic Survey - pet equids

Page 439 of 577



other words, the more income these owners have, the more they may be willing to spend on

veterinary services and vice versa.

Figure 140: Percentage and Number of Households That Owned a Horse, Dec. 31, 1991-201652

The USDA Equine Health Report of 2015 reported that throughout the entire country, horses

(excluding miniatures) made up the highest percentage of resident equids present on May 1,

2015 (85.5 percent). Miniature horses and donkeys made up an approximately equal

percentage of resident equids overall (4.6 percent and 4.5 percent, respectively), followed by

ponies and mules (3.4 percent and 2.0 percent, respectively).

5.1.2 Location

As reported in the 2016 Pet Demographic Survey (PDS), 0.7 percent of households in the United

States owned horses at the end of 2016. The percentage of horse-owning households varies by

region. In the PDS, the West South Central area comprising Texas, Oklahoma, Arkansas and

52 Source: AVMA Pet Demographic Surveys, 1991-2016

2.0% 1.5% 1.7% 1.8% 1.5% 0.7% -

500,000

1,000,000

1,500,000

2,000,000

2,500,000

3,000,000

0%

10%

20%

30%

Num

ber o

f Hou

seho

lds

(in M

illio

ns)

% o

f Hou

seho

lds

Year

Percentage and Number of Households That Owned a Horse (Dec. 31, 1991-2016)

Page 440 of 577



Louisiana had the largest percentage of households that owned horses, at 1.3 percent. The

Mountain region of Montana, Idaho, Wyoming, Nevada, Utah, Colorado, Arizona, and New

Mexico followed at 1.1 percent, and the East South Central region of Kentucky, Tennessee,

Mississippi and Alabama was next at 0.9 percent. The region with the lowest percentage of

horse-owning households was the Middle Atlantic, comprising New York, Pennsylvania, New

Jersey, Delaware, Maryland, and Washington, D.C. at 0.3 percent, and the New England region,

comprising Maine, Vermont, New Hampshire, Connecticut, Rhode Island, and Massachusetts at

0.3 percent. 53

5.1.3 Veterinary Visits

The 2016 Pet Demographic Survey revealed that 47 percent of non-commercial or “backyard”-

type horse owners viewed their horses as family members, 42 percent as a pet/companion, and

11 percent as property. In addition, 65 percent of the individuals who were identified as the

primary caretaker for a horse were females. These findings may influence demand for

veterinary services.

44 percent of horse-owning households surveyed for the PDS reported that their horse(s) did

not receive any care from a veterinarian in 2016. Of the 56 percent who did receive veterinary

care for their horses, 14 percent reported one visit, 23 percent had two visits, 5 percent had

three visits, and 14 percent had four or more visits.

The USDA Equine Health Report of 2015 was released in December 2016. This study was

conducted in 28 states selected, in part, because they had large or dense equine populations.

As with past studies conducted by USDA’s National Animal Health Monitoring System, the USDA

53 The regions in the 2016 Pet Demographic Survey are different than the 0-9 regions reflected in the Equine report.

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Equine Health Report of 2015 provided valuable information to study participants,

stakeholders, and the equine industry. Data collected represented 71.6 percent of equids in

the U.S. and 70.9 percent of U.S. operations with five or more equids.

The USDA’s National Agricultural Statistics Service has periodically captured data on U.S.

commercial equine operations from their regular Census of Agriculture; the list frame used to

select participants for the USDA Equine Health Report of 2015 study was derived from the 2012

Census of Agriculture. All farms on the 2012 Census list with five or more equids (including

horses, ponies, mules, and donkeys) were eligible to be included. Horses residing at racetracks

were not eligible. In total, 3,997 operations were selected for participation via a stratified

random sample.

Operators/owners of commercial horse operations obtain information on the health care of

their animals from multiple sources. Respondents in the USDA Equine Health Report of 2015

were asked to report all sources of equine health care information used in the previous 12

months. Although equine operations used multiple information sources when making decisions

related to equine health care, the highest percentage (79.8 percent) used a private veterinarian

as a source of information, followed by a farrier (65.2 percent).

Beyond receiving health care information, 78.8 percent of the surveyed commercial operations

in the USDA Equine Health Report of 2015 study had used veterinary services at least once in

the previous 12 months. At least 40 percent of operations had used a veterinarian to provide

one or more of the following services: diagnosis, treatment, or surgery of an individual horse,

vaccination consultation or administration, purchase of drugs or vaccines not administered by a

veterinarian, dentistry (e.g., floating, filing, or removing teeth), or herd diagnostic services.

Over one-fourth of all operations (26.9 percent) used a veterinarian to provide an official health

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certificate, and 6.2 percent of all operations used a veterinarian to perform a biosecurity

assessment.

5.2 DEMAND FOR EQUINE PRIVATE PRACTICE VETERINARY SERVICES

Services provided by equine veterinarians include health maintenance/wellness care,

emergency care, surgery, internal medicine, ophthalmology, radiology, ultrasonography,

imaging modalities such as MRI and CT, laboratory testing, dentistry, sports medicine,

prescription and dispensing of medication, complementary or integrative care (e.g.

acupuncture, chiropractic, massage therapy), and rehabilitation therapy. Additional services

may be provided by veterinary specialists with advanced training in cardiology, dentistry,

dermatology, neurology, oncology, ophthalmology, theriogenology, imaging and internal

medicine.

In the 2016 Pet Demographic Survey, the listing of veterinary services queried to private horse

owners were phrased in layman’s terms. Equine veterinary service options listed in the survey

included part-time or full-time boarding/hospitalization, prescription of vitamins/supplements,

preventative care, treatment for lameness or injury (broken bones, lacerations), dental care or

treatment of mouth problems, treatment to address abdominal pain/colic, eye problems, skin

disorders or worms, treatment of cancer, tumor, or other mass or growth, treatment of heart,

lung, liver or kidney disease, and vaccinations.

When horse owners select a veterinary service provider, their awareness of the business may

have originated through word of mouth, an internet listing or website, print advertisement,

prominent signage (visible from the street), or a Yellow Pages phone book listing. Alternatively,

horse owners may choose a provider because of a recommendation or referral, or a reputation

for high quality care, or the presence of a board-certified specialist at the practice. Other

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considerations include the ability of the practice to provide care quickly or at convenient hours

and the fee structure of the practice.

The AAEP 2012 Owner Trainer Survey revealed that one of the top three reasons that clients

choose a veterinarian is the ability to provide on-the-farm ambulatory emergency care 24 hours

a day, 7 days a week.54 Less than 10 percent of the respondents chose low fees as a top reason

to choose a veterinarian. More than half of the owners reported they had been using their

primary veterinarian for at least six years (55 percent) ; the average was nine years. Owners

reported seeing their veterinarian in person about as often as they talked to them on the

phone, on average about eight times per year. A key component of satisfaction was veterinary

availability. In some ways, offering constant availability appeared to be an “entry requirement”

in that respondents reported that a veterinarian would not be considered as a service provider

if he/she was not readily available. However, owner satisfaction clearly extended beyond

simple availability in that owners reported they wanted to feel that their veterinarian was there

for them, cared about their horses, and was willing to spend time with them. In addition, being

skilled at explaining diagnoses and treatments was also important to owner respondents.

In summary, a number of factors drive the market for equine veterinary services.

54 AAEP “Horse Owner/Trainer Veterinary Services Survey 2012 Report of Findings” was accessed 5/9/14; the PDF can be found by AAEP members who log into http:// touch.aaep.org and do a keyword search for "Owner Trainer Veterinary Services survey."

Page 444 of 577



SECTION 6: EQUINE PRACTICE





Equine - main sample (81 Equine respondents from AVMA + 975 AAEP)

1,056

Equine veterinary practices have much in common with other types of veterinary practices in

the delivery of veterinary medical services. Equine practices, however, have several

characteristics that distinguish them from other types of practices, such as varying foci on

individual equine subsectors within the equine industry. Regardless of the subsector served,

each of these practices has the same goal: keeping horses healthy and owners happy.

Respondents that service equines were used in this section of analysis. This section also focuses

on some of the unique characteristics of practice in the following subsectors – or equine sectors

– examined in this analysis:

• Gaited breeds

• Hunter/jumper, eventing, dressage (referred to as English performance in the graphs

and tables)

• Equine companion/pet/pleasure/recreation (referred to as Equine companion in the

graphs and tables)

• Racing - Quarter Horse (referred to as Racing - QH in the graphs and tables)

Page 445 of 577



• Racing - Standardbred (referred to as Racing - STB in the graphs and tables)

• Racing - Thoroughbred (referred to as Racing - TB in the graphs and tables)

• Reproductive

• Ranch or working

• Western performance barrels, roping, rodeo, cutting, reigning etc. (referred to as

Western performance in the graphs and tables)

• General equine practice – serving multiple sectors (referred to as General equine in the

graphs and tables)

6.1 EQUINE SECTORS

More than 60 percent of AAEP respondents at the time of the survey worked in general equine

practice, serving multiple sectors. These individuals typically work with many different types of

horses in different equine sectors throughout the day. Of the remaining respondents, 15.6

percent worked in English performance, 5.7 percent worked in Thoroughbred racing, 5.7

percent worked in the reproductive sector, 4.7 percent worked primarily with equine

companions, and the remainder (each under 4 percent) in gaited breeds, Quarter Horse and

Standardbred racing, ranch or working, and Western performance (Figure 141).

Page 446 of 577



Figure 141: Distribution of AAEP Equine Practitioner Respondents and the Type of Equine Sector They Primarily Serve

The many respondents who reported they were involved in general equine practice (across

multiple equine sectors) were spread throughout the country. The respondents active in the

Hunter/jumper, dressage and eventing horse (English performance) sectors were primarily

located along the East Coast and in other pockets of the United States. Working horse

respondents were located primarily in the Midwest and Texas, as were the bulk of the Western

performance horse respondents. Respondents in the Thoroughbred racing discipline were

mostly located in Kentucky, California, Texas, Florida, New York, Pennsylvania and Maryland.

Standardbred racing respondents were found east of the Mississippi River, and toward New

England. Several companion equine respondents were located south of the Great Lakes, and a

number of reproductive specialty respondents reported that they worked in Kentucky, the

Midwest and Texas (Figure 142).

Gaited breeds, 0.2% English performance, 15.6%

Companion, 4.7%

Racing - QH, 1.0%Racing - STB, 1.3%

Racing - TB, 5.7%

Reproductive, 5.7%Ranch or working, 1.7%

Western performance, 3.2%

General equine, 60.9%

Distribution of AAEP Equine Practitioner Respondents and the Type of Equine Sector They Primarily Serve (n=527)

Page 447 of 577



Concentration of Equine Respondents by Primary Equine Industry Sector, 2016

Figure 142: Concentration of Equine Respondents by Primary Equine Industry Sector, 2016

AAEP respondents were also asked to identify the secondary equine sector they serve, and

were invited to select all that applied to them from a list. Responses showed that 29.2 percent

practiced in general equine (serving multiple sectors), 25.7 percent in equine companion

(including pet, pleasure and recreational use), and 21.1 percent in English performance

(hunter/jumper, eventing, dressage). There was low representation from endurance and polo

sectors, English performance with Arabians, Morgans, and Tennessee Walking Horses, as well

as Standardbred and Quarter Horse racing sectors (Table 130).

Page 448 of 577



Table 130: Distribution of AAEP Respondent Equine Practitioners and the Secondary Equine Sector They Served

Secondary Equine Sector (n=541) Obs. Yes No

General equine 158 29.2% 70.8% Equine companion 139 25.7% 74.3% English performance - hunter/jumper, eventing, dressage 114 21.1% 78.9% Western performance - barrels, roping, rodeo, cutting, reigning etc. 54 10.0% 90.0% Western show performance - pleasure, trail, reining 31 5.7% 94.3% Racing - TB 30 5.5% 94.5% English performance - Arabians, Morgans, Tennessee Walking Horses 9 1.7% 98.3% Racing - QH 9 1.7% 98.3% Racing - STB 8 1.5% 98.5% Polo 6 1.1% 98.9% Endurance 1 0.2% 99.8%

Page 449 of 577



Unique Horse Patients Serviced

AAEP respondents reported the total number of unique horse patients that they serviced in

2015. If they saw one horse multiple times, that horse counted as one patient.

Within the equine sectors, respondents in the Thoroughbred racing industry reported having

the highest average total number of unique equine patients that they provided service to

(1,548 unique patients). Those who worked in the ranch or working sector reported the

smallest average number of unique patients at 177 (Table 131).

Table 131: Distribution of AAEP Respondent Equine Practitioners’ Average Number of Unique Horse Patients Serviced in 2015 with Respect to Primary Equine Sector55

Obs. Total Mean Std. Dev. Median Min. Max.

General equine 247 257,123 1,041 1,477 600 2 15,000 English performance 60 52,437 874 1,007 500 15 5,000 Racing - TB 23 35,605 1,548 2,080 1,000 5 10,000 Reproductive 28 21,770 778 826 500 2 3,000 Western performance

14 15,803 1,129 1,289 800 12 5,000

Equine companion 16 10,683 668 632 425 20 2,500 Racing - QH 4 3,100 775 838 500 100 2,000 Racing - STB 6 2,650 442 326 375 100 1,000 Ranch or working 7 1,238 177 104 200 20 343

The total number of unique horse patients that respondents reported that were specifically

mares was more than 150,000. The respondents who worked in the Western sector on average

saw the greatest number of mares (549 unique mare patients), while respondents in the

working or ranch industry saw, on average, the least amount of unique mares (63) (Table 132).


Page 450 of 577



Table 132: Distribution of AAEP Respondent Equine Practitioners’ Average Number of Unique Horse Patients Serviced in 2015 That Were Specifically Mares with Respect to Primary Equine Sector56

Obs. Total Mean Std. Dev. Median Min. Max.

General equine 237 98,258 415 560 250 0 5,000 English performance 53 17,984 339 423 200 2 2,000 Reproductive 27 11,322 419 487 250 2 2,150 Racing - TB 22 8,535 388 505 150 0 1,500 Western performance 15 8,235 549 676 400 0 2,500 Equine companion 14 4,600 329 273 195 5 800 Racing - STB 6 1,245 208 173 163 60 500 Racing - QH 4 1,150 288 320 175 50 750 Ranch or working 7 439 63 41 75 10 104

In the next section, this report observes the respondents in different equine sectors and who

they primarily contacted, how they communicated, and what party was invoiced for services

rendered.


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Primary Contact

Equine veterinarians communicate with multiple individuals about the diagnosis and treatment

of an individual patient, and do so in a variety of ways. The ranking of AAEP respondents’

primary contact regarding care for their patient is displayed in Figure 143. Position 1 is the most

frequently used primary contact, and the least frequently used primary contact is in position 6.

The order of frequency reported indicated that 69.7 percent of veterinarians most frequently

contacted the owners of the patient; other contacts were the least frequent primary contact,

with trainers, farm employees, corporation/partnership representatives and referring DVMs

falling somewhere in between.

Figure 143: Distribution of AAEP Respondent’s Frequent Primary Contact for Horse Patient

97.5%

56.0%

46.5%

55.0%52.4%

69.7%

0%10%20%30%40%50%60%70%80%90%

100%

% o

f Res

pond

ents

Primary Contact

Distribution of AAEP Respondents' Frequent Primary Contact for Horse Patient (n=523)

Most (1)

2

3

4

5

Least (6)

Rank

Page 452 of 577



Respondents practicing in the equine companion sector reported that owners were used the

most as the primary contact (92 percent) when providing care for a patient. Those respondents

in general equine practice (84.9 percent) and ranch or working sectors (77.8 percent) also

communicated primarily with owners. Respondents in the racing industries interfaced with

owners about a patient the least of all sectors: Trainers and farm managers were contacted

primarily the majority of the time by respondents in racing sectors serving Thoroughbreds (80

percent), Standardbreds (71.4 percent), and Quarter Horses (100 percent). While respondents

reported that barn and farm employees were not contacted as often, they were still utilized as

a primary care point-of-contact by some sectors, being used most in reproductive (20 percent)

and ranch or working sectors (22.2 percent). Respondents reported rarely using referring DVMs

as a primary contact, and no respondent reported contacting corporate or partnership

representatives as the primary contact. Respondents in general equine practice, the

Thoroughbred racing industry, reproductive, and English performance sectors, however, ranked

corporations/partnership representatives second as a primary contact. The majority of all

respondents ranked other contacts as least likely to be primary contact (Figure 144).

0% 20% 40% 60% 80% 100%

English performance (n=82)Equine companion (n=25)

Racing-QH (n=5)Racing-STB (n=7)Racing-TB (n=30)

Reproductive (n=30)Ranch or working (n=9)

Western performance (n=17)General equine (n=317)

% of Respondents

Prim

ary

Equi

ne S

ecto

r

Distribution of AAEP Respondents' Frequent Primary Contact for Horse Patient by Primary Equine Sector - Owners/Family Members

Most (1)

2

3

4

5

Least (6)

Rank

Page 453 of 577



0% 20% 40% 60% 80% 100%





% of Respondents

Prim

ary

Equi

ne S

ecto

rDistribution of AAEP Respondents' Frequent Primary Contact for

Horse Patient by Primary Equine Sector - Trainers/Farm Managers

Most (1)

2

3

4

5

Least (6)

Rank

0% 20% 40% 60% 80% 100%





% of Respondents

Prim

ary

Equi

ne S

ecto

r

Distribution of AAEP Respondents' Frequent Primary Contact for Horse Patient by Primary Equine Sector - Barn/Farm Employees

Most (1)

2

3

4

5

Least (6)

Rank

Page 454 of 577



0% 20% 40% 60% 80% 100%





% of Respondents

Prim

ary

Equi

ne S

ecto


Horse Patient by Primary Equine Sector - Referring DVMs

Most (1)

2

3

4

5

Least (6)

Rank

0% 20% 40% 60% 80% 100%

English performance (n=82)

Racing-QH (n=5)

Racing-TB (n=30)

Ranch or working (n=9)

General equine (n=317)

% of Respondents

Prim

ary

Equi

ne S

ecto

r

Distribution of AAEP Respondents' Frequent Primary Contact for Horse Patient by Primary Equine Sector - Corporation/Partnership

representatives

Most (1)

2

3

4

5

Least (6)

Rank

Page 455 of 577



Figure 144: Distribution of AAEP Respondents' Frequent Primary Contact for Horse Patient by Primary Equine Sector57

Communication

Effective communication is critical in developing a good relationship with clients and providing

the best care for patients. Some individuals in the client relationship-building process are

communicated with more frequently than others. In this survey, 70.3 percent of AAEP

respondents routinely communicated to owners and family members more than half the time,

followed by 29.3 percent who communicated routinely with trainers and farm managers more

than half the time. The majority of respondents reported that they communicated with barn

and farm employees, referring DVMs, corporation or partnership representatives, and other

contacts (farriers, insurance companies) about clinical findings and care recommendations less

than 25 percent of the time (Table 133).


0% 20% 40% 60% 80% 100%





% of Respondents

Prim

ary

Equi

ne S

ecto


Horse Patient by Primary Equine Sector - Other

Most (1)

2

3

4

5

Least (6)

Rank

Page 456 of 577



Table 133: Which of the following people do you routinely communicate with about clinical findings in providing care for your patients?

Percentage Trainers/ farm

managers (n=504)

Owners/ family

members (n=512)

Barn/farm employees

(n=421)

Corporation/ Partnership rep.

(n=250)

Referring DVM

(n=339)

Other (n=66)

0% 0.0% 0.0% 2.1% 49.2% 14.2% 87.9% 1-10% 23.4% 5.8% 56.1% 48.4% 57.2% 4.6% 11-25% 22.6% 7.8% 23.5% 2.0% 11.8% 4.6% 26-50% 24.6% 16.0% 13.8% 0.0% 4.7% 0.0% 51%-75% 10.7% 23.6% 2.4% 0.0% 0.9% 1.5% 76%-99% 8.7% 36.9% 1.7% 0.0% 1.2% 1.5% 100% 9.9% 9.8% 0.4% 0.4% 10.0% 0.0%

The majority of respondents in the different equine sectors reported that they communicate

mostly with owners and trainers. Respondents in the Quarter Horse racing industry

communicated with trainers on average 97 percent of the time, and owners 10.6 percent of the

time. In the Thoroughbred racing industry, veterinarians communicate with referring DVMs an

average of 29.3 percent of the time, with owners 22.9 percent of the time and with trainers 75

percent of the time. Respondents in the English performance sector indicated that they

communicated with owners 58.2 percent of the time and trainers 57.7 percent of the time.

Respondents in the Standardbred racing sector communicated with barn employees 49 percent

of the time. Respondents in general equine practice reported communication with owners 75.1

percent of the time, and with those in companion practice 84.9 percent of the time(Table 134).

Page 457 of 577



Table 134: Mean Percentage of AAEP Respondents Who Communicate with Type of Client by Primary Equine Sector58

Average Percent Owners

Trainers

Employees Corporate Referring DVM

Other


58.2% 57.7% 23.1% 8.1% 24.8% 10.0%

Equine companion (n=25)

84.9% 17.1% 9.2% 0.4% 10.9% 0.0%

Racing-QH (n=5) 10.6% 97.0% 4.0% 0.0% 0.0% 0.0% Racing-STB (n=7) 41.7% 72.3% 49.0% 6.7% 6.7% 0.0% Racing-TB (n=30) 22.9% 75.0% 24.5% 5.6% 29.3% 10.0% Reproductive (n=30) 42.3% 46.4% 18.8% 2.5% 22.5% 1.3% Ranch or working (n=9) 86.1% 24.4% 18.8% 1.3% 30.3% 0.0% Western performance (n=17)

62.9% 46.4% 10.3% 8.5% 29.9% 0.0%

General equine practice (n=319)

75.1% 33.9% 16.6% 4.0% 16.7% 3.0%

Invoicing

Respondents in every equine sector reported that they invoiced owners and family members

more than 70 percent of the time. In examining the racing industry sectors, survey data

indicated that trainers and farm managers were invoiced 16.4 percent of the time in the

Standardbred industry and 10.7 percent of the time in the Thoroughbred industry, with

corporations invoiced 15.0 percent of the time in the Thoroughbred industry (Table 135).


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Table 135: Percent of Clients Invoiced by AAEP Respondents for Patient Care 59

Trainers/farm managers

Owners/family members

Barn/farm employees

Corporation/ Partnership rep.

Other


4.6% 89.5% 1.9% 2.6% 1.5%


2.6% 95.8% 1.1% 0.6% 0.4%

Racing-QH (n=5) 0.0% 100.0% 0.0% 0.0% 0.0% Racing-STB (n=7) 16.4% 78.6% 2.1% 2.9% 0.0% Racing-TB (n=30) 10.7% 73.8% 6.8% 15.0% 0.0% Reproductive (n=30) 7.5% 76.3% 9.3% 6.8% 0.3% Ranch or working (n=9)

2.8% 93.9% 2.8% 0.6% 0.0%

Western performance (n=17)

7.6% 84.7% 2.7% 5.3% 0.0%

General equine practice (n=319)

3.7% 91.2% 1.3% 2.3% 4.6%

Communication Type

Over time, the equine veterinary industry has adopted new technologies and channels through

which to communicate. As with other industries, methods have evolved from face-to-face

communication, landline phones and fax machines to text messages, email and social media.

AAEP respondents were asked to consider the ways in which they communicate with their

clients, and rank from 1 to 8 the most frequent form of communication used, with 1 indicating

the greatest frequency. While slightly more than half of the respondents ranked in-person

communication first, cell phone communication was a close second (46.9 percent).

Communication through Facebook was ranked the least frequently used, with 39.2 percent of

respondents ranking this method as last (Figure 145).


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Figure 145: Distribution of AAEP Respondents’ Ranking of Communication Method with Clients

39.2%

34.9%31.2%

31.2%

23.8%44.0%

35.8%

46.9%

50.1%

0%10%20%30%40%50%60%70%80%90%

100%

% o

f Res

pond

ents

Type of Client Communication

Distribution of AAEP Respondents' Ranking of Communication Method with Clients (n=525)

Most (1)

2

3

4

5

6

7

Least (8)

Rank

Page 460 of 577



6.2 STAFF UTILIZATION

Veterinary practices have full-time and part-time employees. AAEP respondents were asked

how many positions were found at their place of employment in 2015, as well as asked to note

the numbers that were full time.

Full-Time Equivalent Veterinarians and Staff Support

A full-time equivalent (FTE) employee in this analysis was defined with the assumption that a

full-time employee was working between 30-40 hours a week and a part-time employee was

working 20-29 hours a week. Given this assumption, a full-time employee was assigned a 1, and

a part-time employee was assigned a 0.5. By adding up the total number of employees, the FTE

was calculated for a practice. For instance, a one-veterinarian practice equaled a 0.5 to 1.5 FTE

veterinarian; a two-veterinarian practice equaled 1.6-2.5 FTE veterinarians; a three-veterinarian

practice equaled 2.6 to 3.5 FTE veterinarians; a four-or-more-veterinarian practice equaled 3.6-

4.5, and so forth.

In the AAEP sample, 38.5 percent of respondents reported a one-veterinarian practice, 14.3

percent a two-veterinarian practice, 12.6 percent a three-veterinarian practice, 7.8 percent a

four-veterinarians practice, 6.1 percent a five-veterinarian practice, and 20.6 percent a six-or-

more-veterinarian practice (Figure 146).

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Figure 146: Distribution of Full-Time Equivalent (FTE) Veterinarians at a Practice

The number of FTE veterinarians in a practice was then divided by the number of employees to

calculate the veterinarian to employee ratio. Employees (support staff) were defined as

receptionists, veterinary assistants, veterinary technicians (credentialed and non-credentialed),

and animal caretakers. On average, there were 1.7 FTE support staff for every FTE veterinarian

employed at the AAEP respondents’ place of practice in 2015.

About 25 percent of respondents reported two to four and five to nine positions in their place

of employment in 2015, and 16 percent reported no support staff positions at their place of

employment (Figure 147).

38.5%

14.3%12.6%

7.8%

6.1%

20.6%

Distribution of Full-Time Equivalent (FTE) Veterinarians at a Practice (n=548)

One

Two

Three

Four

Five

Six or more

FTE Vets

Page 462 of 577



Figure 147: Distribution of Number of FTE Employees in a Practice

A total of 72 solo practitioners reported no additional veterinarians working at their practice

and no support staff positions. Of the respondents reporting additional owner, associate and

staff positions in their place of employment in 2015, the mean number of FTE associates per

FTE owner veterinarian was 1.89, about two associates for every veterinarian in a practice

(Table 136). Among other positions reported by respondents, there was approximately one

part-time position for each veterinarian in a practice. In the AAEP sample, there were 0.37

interns per veterinarian, 0.14 residents (participating in a residency) per veterinarian, 0.57

credentialed veterinary technicians and 0.80 non-credentialed veterinary technicians per

veterinarian, and 0.80 veterinary assistants. Additionally there were 0.67

receptionist/information clerks, and 0.89 barn/hospital animal caretakers per veterinarian

(Table 137).

16.0%

16.6%

23.5%

22.9%

15.7%

5.3%

Distribution of Number of FTE Employees in a Practice (n=524)

0 employees

1 employee

2-4 employees

5-9 employees

10-19 employees

20 + employees

Page 463 of 577



Table 136: Mean FTE Associates per Owner Veterinarians at a Practice

Position (per FTE owner veterinarian)

Obs. Mean Ratio Std. Dev. Median Ratio Min. Max.

Associates 337 1.89 1.77 1.33 0.07 12.00

Table 137: Mean FTE Staff Support per FTE Veterinarians (Owners plus Associates)

Position (per FTE veterinarian)

Obs. Mean Ratio Std. Dev. Median Ratio Min. Max.

Intern veterinarians 114 0.37 0.20 0.33 0.10 1.00 Resident veterinarians 14 0.14 0.16 0.11 0.02 0.63 Credentialed veterinary technicians

200 0.57 0.51 0.44 0.08 4.00

Non-credentialed veterinary technicians

238 0.80 0.57 0.67 0.07 3.00

Veterinary assistants 267 0.80 1.08 0.57 0.06 15.00 Receptionists/information clerks

377 0.67 0.43 0.56 0.10 4.00

Barn/hospital animal caretakers

211 0.89 3.49 0.40 0.06 50.00

Page 464 of 577



Staff Utilization on Ambulatory Calls and After Business Hours

More than one-third (35.2 percent) of AAEP respondents reported that veterinary technicians

and other support staff were used on ambulatory calls routinely, in contrast to 20.4 percent of

respondents who reported that they were not used on ambulatory calls (Figure 148).

Figure 148: Distribution of the Utilization of Veterinary Technicians and Other Support Staff on Ambulatory Calls

Nearly half of the respondents indicated that support staff were not used after business hours,

compared to almost one-quarter of respondents who said support staff were used after

normal business hours on ambulatory calls, but only if needed (Figure 149).

2.5%

20.4%28.0%

35.2%

13.9%

No ambulatorywork is done in

my place ofemployment

Support staffare not used on

ambulatorycalls

Support staffare used onambulatory

calls, but only ifneeded

Support staffare routinely

used onambulatory

calls

Support staffare always

used onambulatory

calls

% o

f Res

pond

ents

Ambulatory Use Type

Distribution of the Utilization of Veterinary Technicians and Other Support Staff on Ambulatory Calls (n=525)

Page 465 of 577



Figure 149: Distribution of the Utilization of Veterinary Technicians and Other Support Staff after Business Hours

With regard to the number of FTE veterinarians in a practice, the trend among AAEP

respondents appears to be that the larger the veterinary practice in terms of the number of

veterinarians, the more commonly it was reported that support staff were routinely or always

used on ambulatory calls (Figure 150).

7.1%

48.7%

16.6%24.6%

3.1%

No after normalbusiness hourswork is done in

my place ofemployment

Support staff arenot used after

normal businesshours

Support staff areused after normalbusiness hours in

the hospital orclinic

Support staff areused after normalbusiness hours onambulatory calls,

but only if needed

Support staff arealways used afternormal business

hours onambulatory calls

% o

f Res

pond

ents

After Business Hours Use Type

Distribution of the Utilization of Veterinary Technicians and Other Support Staff after Business Hours (n=541)

Page 466 of 577



Figure 150: Distribution of the Utilization of Veterinary Technicians and Other Support Staff on Ambulatory Calls by Number of FTE Veterinarians at a Practice

3.9% 4.9% 1.5%

36.9%

19.5%

8.8% 8.3% 8.6%2.4%

24.6%

26.8%

39.7%33.3% 31.4%

23.8%

22.2%36.6% 41.2%

39.6% 42.9%

54.8%

12.3% 12.2% 8.8%18.8% 17.1% 19.0%

One Two Three Four Five Six +

% o

f Res

pond

ents

# of FTE Veterinarians

Distribution of the Utilization of Veterinary Technicians and Other Support Staff on Ambulatory Calls by Number of FTE Veterinarians at a

Practice (n=520)

Support staff are always used onambulatory calls

Support staff are routinely usedon ambulatory calls

Support staff are used onambulatory calls, but only ifneeded

Support staff are not used onambulatory calls

No ambulatory work is done inmy place of employment

Page 467 of 577



The use of veterinary technicians or other support staff at an AAEP respondents’ place of

employment after normal business hours was also investigated. More than half of respondents

who have one to three veterinarians at their place of employment do not use staff in the

hospital or clinic after normal business hours. Of respondents who work in a veterinary practice

of six or more veterinarians, 41.7 percent reported that support staff is used after normal

business hours in the hospital or clinic (Figure 151).

Figure 151: Distribution of the Utilization of Veterinary Technicians and Other Support Staff after Business Hours by Number of FTE Veterinarians at a Practice

Among AAEP respondent practices, there were 15.3 percent (77) of respondents that reported

their practice did not use either a licensed technician or a non-licensed technician/assistant.

38.1 percent (191) reported using both licensed technicians and non-licensed

12.3%4.9% 3.0% 2.1%

8.6%2.4%

59.1%

54.9% 53.7%

39.6% 31.4%

25.0%

5.4%

11.0% 11.9%29.2%

25.7%41.7%

19.7% 29.3% 31.3% 25.0%28.6% 26.2%

3.4% 4.2% 5.7% 4.8%

One Two Three Four Five Six +

% o

f Res

pond

ents

# of FTE Veterinarians

Distribution of the Utilization of Veterinary Technicians and Other Support Staff after Business Hours by Number of FTE Veterinarians at a

Practice (n=519)

Support staff are always usedafter normal business hours onambulatory calls

Support staff are used afternormal business hours onambulatory calls, but only ifneeded

Support staff are used afternormal business hours in thehospital or clinic

Support staff are not used afternormal business hours

Page 468 of 577



technicians/assistants, 40.4 percent (203) reported the use of non-licensed veterinary

technicians/assistants only, and 6.2 percent (31) reported the use of licensed veterinary

technicians only.

The distribution of duties assigned to each type of technician/assistant is reported in Table 138.

Of the respondents who reported on the distribution of duties assigned to licensed technicians

and/or non-licensed technicians/assistants at their place of work, respondents reported a

higher use of non-licensed veterinary technicians than licensed technicians/veterinary

assistants during the set up of diagnostic imaging equipment (NLT: 91.9 percent; LT: 86.0

percent). The largest difference between the use of the two types of technicians was in the

placing of IV catheters into a patient: 82.9 percent of the 222 respondents with licensed

technicians indicated they were given this responsibility, 38.6 percent of the 394 respondents

with non-licensed technicians/assistantswere given this task. 75.7 percent of those with

licensed technicians utilized them for administering anesthesia, compared to 35.8 percent of

those respondents with non-licensed/assistant staff.

Page 469 of 577



Table 138: Distribution of Duties Assigned to Licensed Technicians and Non-Licensed Technicians at an AAEP Respondents’ Place of Work (select all that apply)

Licensed Technician

(n=222)

Non-licensed Technicians/Veterinary

Assistants (n=394) Obs. Percent Obs. Percent Administer anesthesia 168 75.7% 141 35.8% Setting up diagnostic imaging equipment (radiography, ultrasonography, endoscopy)

191 86.0% 362 91.9%

Obtaining radiographic studies 163 73.4% 211 53.6% Perform other diagnostic imaging studies (e.g. nuclear scintigraphy, MRI)

54 24.3% 45 11.4%

Administer vaccinations 141 63.5% 163 41.4% Place IV catheters 184 82.9% 152 38.6% Administer treatments or set up fluids through catheter

189 85.1% 258 65.5%

Administer IV injections (no catheter) 172 77.5% 171 43.4% Administer IM injections (other than vaccinations)

190 86.5% 256 65.0%

Perform routine treatments - e.g., apply foot wrap, apply leg wrap, apply topical medications

186 83.8% 284 72.1%

Collect venous blood samples 198 89.2% 260 66.0% Perform laboratory tests in house - e.g., set up bacterial cultures, use CBC/chemistry analysis machines, perform quantitative fecal exams, cytology

196 88.3% 280 71.1%

Perform aseptic preparation for procedures 201 90.5% 333 84.5% Prepare injections for doctor use 191 86.0% 305 77.4% Communicate with clients - e.g. Give care instructions, report laboratory results, make appointments

174 78.4% 260 66.0%

Write invoices for work performed by veterinarian

170 73.9% 264 67.0%

Assist in surgical procedures 162 76.6% 245 62.2%

Page 470 of 577



6.3 SERVICE CALLS

Among AAEP respondents, 36.5 percent reported being in a strictly ambulatory practice.

Ambulatory with a haul-in facility comprised another 35.4 percent of the distribution; 16.1

percent of respondents reported working in a full-service specialty/referral hospital with an

ambulatory division. Respondents who primarily worked in a haul-in facility comprised only 1.3

percent of the group, and 1.7 percent of the respondents reported that they worked in a full-

service specialty/referral hospital with no ambulatory division (Figure 152).

By primary equine sector, there were respondents reporting being in an ambulatory practice in

all sectors except for the ranch or working sector. Over 50 percent of respondents in the equine

companion and Standardbred racing sectors reported being in an ambulatory practice. Over 60

percent of respondents in the ranch or working sectors reported being in an ambulatory with

haul-in facility. 27.6 percent of respondents in the Thoroughbred racing sector, and 23.5

percent respondents in Western performance, reported working in a full-service

specialty/referral hospital with ambulatory division in 2015 (Table 139).

Page 471 of 577



Figure 152: Distribution of AAEP Respondents’ Primary Practice Business Model In 2015

Table 139: Distribution of AAEP Respondents’ Primary Practice Business Model In 2015 by Primary Equine Sector

Obs. Ambulatory Ambulatory with Haul-in

facility

Haul-in facility only

Specialty/referral - Limited service

English performance 82 40.2% 20.7% 0.0% 2.4% Companion 25 60.0% 36.0% 0.0% 0.0% Racing - QH 5 20.0% 0.0% 0.0% 0.0% Racing - STB 7 71.4% 28.6% 0.0% 0.0% Racing - TB 29 34.5% 10.3% 0.0% 0.0% Reproductive 30 20.0% 30.0% 10.0% 13.3% Ranch or working 9 0.0% 66.7% 0.0% 11.1% Western performance

17 17.6% 35.3% 11.8% 5.9%

General equine 322 37.3% 41.0% 0.6% 1.2%

36.5%

35.4%

1.3%2.3%1.7%2.8%

16.1%

4.0%

Distribution of AAEP Respondents' Primary Practice Business Model In 2015 (n=529)

Ambulatory

Ambulatory with Haul-in facility

Haul-in facility only

Specialty/referral - Limitedservice

Specialty/referral - Full service

Specialty/referral - Limitedservice with ambulatory division

Specialty/referral hospital - Fullservice with ambulatory division

Other

Page 472 of 577



Obs. Specialty/referral

- Full service Specialty/referral - Limited service with ambulatory

division

Specialty/referral hospital - Full service with ambulatory

division

Other

English performance 82 1.2% 2.4% 28.0% 4.9% Companion 25 0.0% 0.0% 4.0% 0.0% Racing - QH 5 0.0% 0.0% 0.0% 80.0% Racing - STB 7 0.0% 0.0% 0.0% 0.0% Racing - TB 29 0.0% 6.9% 27.6% 20.7% Reproductive 30 0.0% 3.3% 13.3% 10.0% Ranch or working 9 0.0% 11.1% 11.1% 0.0% Western performance 17 5.9% 0.0% 23.5% 0.0% General equine 322 2.2% 2.8% 13.7% 1.2%

More than 90 percent of AAEP respondents said they charged a farm call or trip fee (8.1 percent

do not), and nearly the same amount (89.4 percent) reported that they charged an emergency

fee in addition for emergency calls, while 5.7 percent do not. A modest number of respondents

(4.9 percent) said they did not offer emergency services.

Respondents reported that billing for ambulatory call fees varies among the equine sectors.

Charging ambulatory visits based on zone was reported as the most common method for

ambulatory billing among AAEP respondents in the English performance (76.5 percent), equine

companion (62.5 percent), and general equine practice (68.3 percent) sectors. Within the AAEP

sample, a small percentage charged hourly one-way or round-trip fees for ambulatory calls,

with the exception of respondents in the Standardbred racing sector in which 42.9 percent

charged hourly round-trip fees. Nearly one-third (31.3 percent) of Western performance

respondents and 44.4 percent of ranch/working sector respondents reported that they charged

based on mileage driven (Table 140).

Page 473 of 577



Table 140: Distribution of AAEP Respondents’ Billing of Ambulatory Farm Calls by Primary Equine Sector60

Obs. By Zone

Hourly One-Way

Hourly Round-

Trip

Mileage Flat Fee

Other61 Total

English performance

81 76.5% 3.7% 2.5% 13.6% 2.5% 1.2% 100.0%

Equine companion

24 62.5% 0.0% 0.0% 29.2% 8.3% 0.0% 100.0%

Racing - QH 5 60.0% 0.0% 0.0% 20.0% 0.0% 20.0% 100.0% Racing - STB 7 42.9% 0.0% 42.9% 14.3% 0.0% 0.0% 100.0% Racing - TB 28 42.9% 3.6% 0.0% 7.1% 14.3% 32.1% 100.0% Reproductive 29 34.5% 3.4% 0.0% 24.1% 0.0% 37.9% 100.0% Ranch or working

9 44.4% 0.0% 11.1% 44.4% 0.0% 0.0% 100.0%

Western performance

16 56.3% 6.3% 0.0% 31.3% 6.3% 0.0% 100.0%

General equine 319 68.3% 2.2% 0.9% 14.4% 11.6% 2.5% 100.0%

At least 50 percent of AAEP respondents in a specialty referral hospital, ambulatory practice or

ambulatory practice with a haul-in facility reported they charged farm calls by zone. Half of the

respondents who worked in a haul-in facility did not charge by zone, but instead charged by

mileage. A small percentage of respondents across business models charged for hourly round-

trip and flat fees, while 14.7 percent of respondents in ambulatory charge a flat fee unrelated

to the distance of the patient from the practice (Table 141).

60 Gaited breeds was omitted because the number of observations did not permit estimation. 61 Other ways of bil l ing ambulatory farm calls were based on procedure/services conducted, location, and number of horses seen. Several respondents stated they do not charge for ambulatory farm calls.

Page 474 of 577



Table 141: Distribution of AAEP Respondents’ Billing of Ambulatory Farm Calls by Business Model

Obs. By Zone

Hourly One-Way

Hourly Round-

Trip

Mileage Flat Fee

Other62 Total

Ambulatory 191 62.3% 2.1% 2.1% 12.6% 14.7% 6.3% 100.0% Ambulatory with Haul-in facility

186 66.7% 3.2% 1.6% 19.9% 5.9% 2.7% 100.0%

Haul-in facility only 6 0.0% 16.7% 0.0% 50.0% 0.0% 33.3% 100.0% Specialty/referral-Limited service

12 50.0% 0.0% 0.0% 41.7% 0.0% 8.3% 100.0%

Specialty/referral-Full service

9 77.8% 0.0% 0.0% 22.2% 0.0% 0.0% 100.0%

Specialty/referral -Limited service with ambulatory division

15 80.0% 0.0% 6.7% 13.3% 0.0% 0.0% 100.0%


84 73.8% 2.4% 0.0% 10.7% 7.1% 6.0% 100.0%

Other 18 33.3% 0.0% 5.6% 22.2% 5.6% 33.3% 100.0%

AAEP respondents indicated that their primary practice service area covered anywhere from a

zero-mile radius to a 2,500-mile radius, with 32.8 percent of respondents reporting a service

area between a 21- and 40-mile radius, and 38.6 percent between a 41- and 60-mile radius. The

majority of AAEP respondents reported a service area radius of between 0 and 60 miles, with

the remainder of respondents (22.6 percent) covering more than 61 miles (Figure 153).

62 Other ways of bil l ing ambulatory farm calls was based on procedure/services conducted, location, and number of horses seen. Several respondents stated they do not charge for ambulatory farm calls.

Page 475 of 577



Figure 153: Distribution of AAEP Respondents’ Primary Practice Service Area Radius (in miles)

The average service area radius of respondents practicing in the Thoroughbred racing sector

encompassed 179 miles, the largest among the equine sectors represented, followed by

respondents in the ranch and working horse industry, with an average radius of 137 miles. The

smallest mean service area radius was reported by equine companion respondents, at 45 miles

(Table 142).

Table 142: Mean of AAEP Respondents’ Primary Practice Service Area Radius (in miles) by Primary Equine Sector63


Racing - TB 27 179 504 1 2,500 Ranch or working 9 137 92 40 300 Racing - STB 7 84 57 30 200 English performance 79 75 75 5 400 Reproductive 29 74 182 0 1,000 Racing - QH 5 72 80 10 200 General equine 317 60 58 15 700 Western performance 17 60 44 10 200 Equine companion 25 45 13 25 90


6.0%

32.8%38.6%

7.3% 6.6% 8.7%

0-20 21-40 41-60 61-80 81-100 Over 100

% o

f Res

pond

ents

Primary Practice Service Area Radius (in miles)

Distribution of AAEP Respondents' Primary Practice Service Area Radius (in Miles) (n=518)

Page 476 of 577



Respondents with different business models had widely varying practice radii. At 52 miles,

respondents in a full-service specialty/referral hospital on average had the smallest radius

among the AAEP sample. Respondents who responded that their business model was in the

“Other” category reported the largest service area radius at 177 miles. The majority of

respondents in this “Other” category identified themselves as racetrack veterinarians or

professionals working in integrative therapy (Table 143).

Table 143: Mean of AAEP Respondents’ Primary Practice Service Area Radius (in miles) by Business Model


Ambulatory 193 76 188 1 2,500 Ambulatory with Haul-in facility 184 58 45 10 400 Haul-in facility only 7 66 65 0 180 Specialty/referral hospital - Limited service (e.g., no colic surgery, isolation, neonatology)

10 87 101 5 300

Specialty/referral hospital - Full service 9 52 25 15 100 Specialty/referral hospital - Limited service with ambulatory division

15 99 109 30 400


82 56 45 20 300

Other 19 177 306 1 1,000

47 percent of AAEP respondents reported that they drove between 25,001 and 50,000 miles a

year while practicing veterinary medicine as an equine practitioner, followed by 29 percent who

traveled between 12,501 and 25,000 miles a year (Figure 154).

Page 477 of 577



Figure 154: Distribution of AAEP Respondents Miles Traveled for Work Each Year While Practicing Equine Medicine

More than 75 percent of AAEP respondents in any equine sector traveled fewer than 50,000

miles a year, but almost 75 percent of respondents in the Standardbred racing sector reported

traveling 25,001-50,000 miles. Almost one-quarter of respondents in the Thoroughbred racing

sector travelled more than 50,000 miles while performing their work (Table 144).

Table 144: Distribution of AAEP Respondents’ Miles Traveled for Work Each Year While Practicing Equine Medicine by Primary Equine Sector64

Obs. 0-12,500

12,501-25,000

25,001-50,000

50,001-75,000

75,001- 100,000

Over 100,000

English performance 82 6.1% 25.6% 57.3% 9.8% 1.2% 0.0% Equine companion 25 16.0% 32.0% 44.0% 4.0% 4.0% 0.0% Racing - QH 5 60.0% 0.0% 20.0% 20.0% 0.0% 0.0% Racing - STB 7 14.3% 14.3% 71.4% 0.0% 0.0% 0.0% Racing - TB 29 20.7% 17.2% 37.9% 13.8% 10.3% 0.0% Reproductive 29 17.2% 31.0% 34.5% 13.8% 3.4% 0.0% Ranch or working 9 44.4% 44.4% 0.0% 11.1% 0.0% 0.0% Western performance 17 35.3% 23.5% 17.6% 23.5% 0.0% 0.0% General equine 318 10.4% 31.4% 48.7% 6.6% 2.2% 0.6%


12.8%

29.0%

47.0%

8.4%2.5% 0.4%

0-12,500 12,501-25,000 25,001-50,000 50,001-75,000 75,001-100,000 Over 100,001miles

% o

f Res

pond

ents

# of Miles

Distribution of AAEP Respondents' Miles Traveled for Work Each Year While Practicing Equine Medicine (n=524)

Page 478 of 577



Respondents’ miles travelled per year by business model show that 63.6 percent of

respondents in a limited-service specialty/referral hospital and 71.4 percent in a haul-in only

facility travel up to 12,500 miles a year. More than 30 percent of AAEP respondents in the

“Other” business model travel in excess of 50,000 miles per year. These respondents included

those that are racetrack veterinarians or offer integrative therapies (Table 145).

Table 145: Distribution of AAEP Respondents’ Miles Traveled for Work Each Year While Practicing Equine Medicine by Business Model

Obs. 0-12,500

12,501-25,000

25,001-50,000

50,001-75,000

75,001- 100,000

Over 100,000

Ambulatory 192 6.8% 28.6% 56.3% 6.8% 1.6% 0.0% Ambulatory with Haul-in facility

187 10.2% 30.5% 50.3% 5.9% 2.1% 1.1%

Haul-in facility only 7 71.4% 28.6% 0.0% 0.0% 0.0% 0.0% Specialty/referral hospital -Limited service (e.g., no colic surgery, isolation, neonatology)

11 63.6% 18.2% 0.0% 9.1% 9.1% 0.0%

Specialty/referral hospital-Full service

9 11.1% 44.4% 33.3% 11.1% 0.0% 0.0%

Specialty/referral hospital -Limited service with ambulatory division

14 7.1% 42.9% 35.7% 7.1% 7.1% 0.0%

Specialty/referral hospital- Full service with ambulatory division

84 16.7% 28.6% 36.9% 14.3% 3.6% 0.0%

Other 20 35.0% 10.0% 25.0% 25.0% 5.0% 0.0%

Page 479 of 577



6.4 PARALLEL SERVICE PROVIDERS

There are many non-veterinarian providers of equine services, such as dentistry, podiatry,

sports medicine, integrative therapies, reproduction, and pharmaceutical services that were

once deemed solely the market of veterinarians. These non-veterinarian providers of equine

services can be referred to as parallel service providers. Because of the potential effects of

parallel veterinary service providers -- not only on the revenues of practices and incomes of

veterinarians but on the very existence of equine practices in some rural areas -- equine

veterinarians were asked to identify the potential competitors who have adversely affected

their practices. More than 84.7 percent of the AAEP respondents have had parallel service

providers take business away from them. Respondents indicated that nearly one-quarter of

equine practices provided seasonal services in other locations (e.g., states), and 86.4 percent of

this group has had parallel providers move in on their business. 13.6 percent of those who

provide seasonal services had not seen decreased revenue as a result.

AAEP respondents were asked to report the services provided by others to which they

attributed the reductions in their revenue stream, indicating all that applied to them. The top

services that AAEP respondents believed affected their revenue stream were dentistry at 62.5

percent, and internet pharmacy sales at 54.7 percent. Almost half (47.1 percent) of

respondents listed lay practitioners performing chiropractic, acupuncture and massage services.

31.2 percent of respondents felt they lost revenue from transient show veterinarians who

followed a particular sector’s show circuit, and 16.6 percent cited traveling pharmacies with a

physical presence at horse shows. More than 10 percent indicated that revenue was lost due to

services provided by university staff at university hospitals or at satellite locations. Only 15.3

percent of AAEP respondents reported that their revenue stream was not reduced by any of

these factors (Figure 155).

Page 480 of 577



Figure 155: Do you think your practice’s revenue stream has been reduced by services provided by any of the following types of parallel service providers? (select all that apply)

Pockets of respondents reported having been affected by university hospitals in the Denver,

Colorado area, Northern Virginia/Maryland area, and state of Massachusetts. Respondents felt

the effect of traveling pharmacies – most in Southern California and in states east of the

Mississippi River, especially along the East Coast northward into New England. Many

respondents across the country were affected by traveling show veterinarians, internet

pharmacies, and lay practitioners (Figure 156).

64.7%47.1%

62.5%

31.2%

16.6%

11.1%

15.3%

Internet pharmacies (n=350)

Lay practitioners (n=255)

Dentistry (n=338)

Show veterinarians (n=169)

Traveling pharmacies (n=60)

University staff at university hospitals (n=60)

No affect on revenue stream (n=83)

% of Respondents

Type

of P

aral

lel S

ervi

ce P

rovi

der

Do you think your practice’s revenue stream has been reduced by services provided by any of the following types of parallel service

providers? (select all that apply)

Page 481 of 577



I do not think my revenue stream has been reduced in any of these ways

University staff at university hospitals or at satellite locations

Page 482 of 577



Traveling pharmacies with physical presence at horse shows

Show veterinarians that travel with a particular sector’s show circuit

Page 483 of 577



Lay Practitioners – Dentistry

Lay Practitioners – Chiropractic/Acupuncture/Massage

Page 484 of 577



Internet Pharmacies

Figure 156: Maps of Parallel Veterinary Service Providers Affecting AAEP Respondents’ Revenue

AAEP respondents face competition not only from parallel service providers but from other

veterinarians within their service area as well: 26.5 percent of AAEP respondents stated that

there were one to five other equine veterinarians in their service area, followed by 24.6 percent

with six to 10 veterinarians, 23.6 percent with 11 to 20 veterinarians and 11.6 percent with 21

to 30 veterinarians (Figure 158).

Page 485 of 577



Figure 157: Distribution of the Number of Equine Veterinarians Competing in AAEP Respondents’ Service Area

The geographic distribution of competing equine veterinarians in an AAEP respondent’s service

area is presented in Figure 158. Across the continental United States and in parts of Hawaii, the

majority of respondents reported between 1-20 equine veterinarians in their service area.

Areas with more than 50 competing veterinarians were apparent in California, Minnesota,

Kentucky, Texas, Tennessee, Florida, and areas around Maryland (Figure 158).

26.5%24.6% 23.6%

11.6%

5.5%3.4% 4.8%

1-5 6-10 11-20 21-30 31-50 51-100 More than100

% o

f Res

pond

ents

# of Veterinarians

Distribution of the Number of Equine Veterinarians Competing in AAEP Respondents' Service Area (n=525)

Page 486 of 577



Distribution of Competing Equine Veterinarians in an AAEP Respondent’s Service Area

Figure 158: Distribution of Competing Equine Veterinarians in an AAEP Respondent’s Service Area

Nearly 90 percent of AAEP respondents in the ranch or working sector reported one to five

veterinarians as competitors; the remaining 11.1 percent of respondents reported 11-20

competing veterinarians in their service area. In the English performance sector, 34.6 percent of

respondents reported 11-30 veterinarians in their region. Respondents in the reproductive and

Thoroughbred racing industry had the highest percentage of competition, reporting more than

100 other equine veterinarians in their service area (23.3 percent and 13.3 percent

respectively). Overall, respondents in Standardbred and Quarter Horse racing, and in the ranch

and working sectors had fewer than 30 competing veterinarians in their service area. The

Page 487 of 577



remaining sectors reported more than 30 competing veterinarians in their service area (Table

146).

Table 146: Distribution of the Number of Competing Veterinarians in a Service Area by Primary Equine Sector65

1-5 6-10 11-20 21-30 31-50 51-100 >100 Total


6.2% 19.8% 34.6% 16.0% 8.6% 8.6% 6.2% 100.0%


52.0% 20.0% 20.0% 4.0% 4.0% 0.0% 0.0% 100.0%

Racing-QH (n=4) 50.0% 25.0% 0.0% 25.0% 0.0% 0.0% 0.0% 100.0% Racing-STB (n=7) 28.6% 42.9% 28.6% 0.0% 0.0% 0.0% 0.0% 100.0% Racing-TB (n=30) 10.0% 20.0% 16.7% 10.0% 10.0% 20.0% 13.3% 100.0% Reproductive (n=30) 23.3% 16.7% 20.0% 10.0% 0.0% 6.7% 23.3% 100.0% Ranch or working (n= 9) 88.9% 0.0% 11.1% 0.0% 0.0% 0.0% 0.0% 100.0% Western performance (n=17)

35.3% 29.4% 17.6% 11.8% 5.9% 0.0% 0.0% 100.0%

General equine (n=319) 28.8% 27.3% 23.2% 11.9% 5.0% 0.9% 2.8% 100.0%


Page 488 of 577



6.5 PRACTICE OWNERSHIP

Equine practitioners who are practice owners have a much different set of responsibilities than

associates. Not only does a practice owner practice veterinary medicine in most cases, he or

she is also in charge of the business operations associated with running a practice and the end

goal of managing a profitable and successful business. Practice owners, numbering 334,

accounted for 34.3 percent of the AAEP respondents, with 60 percent of owners male and 40

percent female. Of the respondents who were practice owners, 49.7 percent were sole

proprietors, 36.5 percent were a partner/shareholder in an S-Corp or C-Corp, and 13.8 percent

were a partner in a Limited Liability Corporation (LLC) or other type of practice ownership

structure (Figure 159).

Figure 159: Distribution of AAEP Respondent Owners by Practice Ownership Structure

As shown in in Figure 107, nearly one-quarter (23 percent) of practice owner respondents

reported a desire to decrease the number of hours they currently work each week; 16.3

49.7%

36.5%

13.8%

Distribution of AAEP Respondent Owners by Practice Ownership Structure

Sole proprietor (n=166)

Partner/Shareholder S-Corp or C-Corp (n=122)

Partner-LLC or other(n=46)

Page 489 of 577



percent desired to work more hours; and 60.7 percent reported they would like to work the

same hours amount of hours they currently worked.

An equine veterinarian in an ownership position needs to sell his or her shares in the practice

and transfer ownership of the business either before or at retirement. In other cases, a practice

owner may need to liquidate the business before retirement for a particular reason. Of the 225

AAEP respondents who shared their thoughts on selling equity, four percent indicated that they

would like to sell some or all of their shares before retirement, 28.4 percent would like to sell at

the time of retirement, and 67.6 percent indicated selling some or all of the shares before and

at the time of retirement.

Interest in ownership among associates was also explored. In the AAEP sample, more than half

(50.4 percent) of relief and associate veterinarian respondents were interested in purchasing a

practice. This is more than twice the interest reported by the AVMA sample (21.7 percent).

Only the AAEP respondents was given the choice to answer “Unsure,” and 20.8 percent of these

respondents selected this answer.

Approximately 59 percent of male AAEP respondents indicated interest in buying shares or

becoming a practice owner, while 48.0 percent of female AAEP respondents reported interest

in ownership; 18.7 percent of female and 12.7 percent of male AAEP respondents were unsure

if they would buy shares or obtain ownership. Among the AAEP sample 28.6 percent of male

respondents and 33.3 percent of female respondents were not interested in buying shares or

ownership of a practice (Figure 160). The 2016 Census of Veterinarians asked if respondents

were ”in the market” to buy a practice or become a practice owner instead of whether they are

“interested” (as in the 2016 AVMA-AAEP Survey of Equine Practitoners). Of the AVMA male

respondents, 34 percent were in the market to buy or become a practice owner and 18.7

percent of females were in the market to buy or become a practice owner.

Page 490 of 577



Figure 160: Distribution of AAEP and AVMA Respondents’ Interest in Buying Shares or Becoming a Practice Owner by Gender

Of the AAEP respondents interested in obtaining ownership in a practice, 34.5 percent were not

at all confident that they would obtain ownership interest in a practice within the next 18

months; 21.6 percent were extremely confident they would. More than 64 percent of AAEP

58.7% 48.0%

28.6%33.3%

12.7% 18.7%


% o

f Res

pond

ents

Share/Ownership Interest Level

Distribution of AAEP Respondents' Interest in Buying Shares or Becoming a Practice Owner by Gender

Interested Not Interested Unsure

34.0%18.7%

66.0%81.3%


% o

f Res

pond

ents

Share/Ownership in the Market Level

Distribution of AVMA Respondents' Interest in Buying Shares or Becoming a Practice Owner by Gender

In the market Not in the market

Page 491 of 577



respondents were “not very confident” to “not at all confident” to “unsure” about obtaining

practice ownership, while the remaining 36 percent of respondents were “moderately

confident,” “very confident” or “extremely confident” that they would obtain ownership (Figure

161).

Figure 161: Distribution of AAEP Respondents' Confidence Level in Obtaining Practice Ownership Interest in a Practice within the Next 18 Months

While approximately 35 percent of respondents were moderately to extremely confident in

obtaining ownership interest within the next year and a half, nearly one-quarter (23.8) percent

of practice owners were only moderately confident that they would successfully sell their

ownership interest; approximately 20 percent were very to extremely confident that they

would. More than half (56 percent) of AAEP respondent owners stated they were not very

confident, not at all confident, or not sure about being able to successfully sell their ownership

interest (Figure 162).

21.6%

3.5%

10.3%

25.0%

34.5%

5.2%

Distribution of AAEP Respondents' Confidence Level in Obtaining Practice Ownership Interest in a Practice

within the Next 18 Months (n=116)

Extremely confident

Very confident

Moderately confident

Not very confident

Not at all confident

Not sure

Page 492 of 577



Figure 162: Distribution of AAEP Respondent Owners’ Confidence Level Who Want to Sell Their Ownership Interest

An assessment of the confidence level of owners in selling interest in their practice with respect

to their practice size (including all staff and veterinarians) showed that the more staff members

there were in a practice the more confident owners were in selling their ownership interest

(Figure 163).

9.6%

10.6%

23.8%

21.5%

19.9%

14.6%

Extremely confident

Very confident


Not very confident


Not sure

% of Respondents

Conf

iden

ce L

evel

Distribution of AAEP Respondent Owners' Confidence Level Who Want to Sell Their Ownership Interest

(n=302)

Page 493 of 577



Figure 163: Distribution of AAEP Respondent Owners Who Want to Sell Their Practice Interest: Confidence in Ability to Sell Shares by Practice Size

The average confidence level of AAEP owner respondents in their ability to sell their

shares/practice with respect to the gross revenue generated per year over the past three years

was greater the more revenue a practice generated. When the practice gross revenue was less

than $1 million, less than 50 percent of respondents were extremely to moderately confident

that they would be able to sell their interest (Figure 164).

0%

20%

40%

60%

80%

100%

1 2-4 5-9 10-19 20-49 50+

% o

f Res

pond

ents

Practice Size (# of Staff Members)

Distribution of AAEP Respondent Owners Who Want to Sell Their Practice Interest: Confidence in Ability to Sell

Shares by Practice Size (n=300)

Extremely confident

Very confident


Not very confident


Not sure

Page 494 of 577



Figure 164: Distribution of AAEP Respondent Owners Who Want to Sell Their Practice: Confidence in Ability to Sell by Gross Collected Practice Revenue (per Year in the Last Three Years)

In addition to the majority of AAEP respondents who expressed moderate to low confidence

that they would be able to sell their ownership interest, only 18.4 percent of respondents

reported having a buy-sell agreement in place to provide structure for departure of partners

due to retirement, disability, death, etc. Although more than two-thirds (70.4 percent) of

respondents in a 20-or-more-employee practice had a buy-sell agreement in place, the trend

decreased as respondent practice size decreased. No one in a one- or two-to-four-employee

practice reported having a buy-sell agreement in place (Table 147).

0%20%40%60%80%

100%

% o

f Res

pond

ents

Average Gross Collected Revenue (per Year in the Last Three Years)

Distribution of AAEP Respondent Owners Who Want to Sell Their Practice: Confidence in Ability to Sell by Average Gross Collected

Practice Revenue (per Year in the Last Three Years)

Extremely confident Very confident Moderately confident

Not very confident Not at all confident Not sure

Page 495 of 577



Table 147: Distribution of AAEP Respondent Owners’ Buy-Sell Agreement by Practice Size

Buy/Sell Agreement

1 staff member

(n=96)

2-4 staff members

(n=84)

5-9 staff members

(n=57)

10-19 staff members

(n=47)

20-49 staff members

(n=20)

50 or more staff members

(n=7) Yes 0.0% 0.0% 22.8% 51.1% 65.0% 85.7% No 100.0% 100.0% 77.2% 48.9% 35.0% 14.3%

In preparing for the future, 26.9 percent of AAEP respondent practice owners indicated that

they were looking to current associates to purchase the practice, followed by nearly the same

number of respondents (26.6 percent) who cited a veterinarian not currently working at their

practice as a future successor. 36.7 percent of respondent owners were not sure who might

succeed them, while 7.9 percent AAEP respondents had some other person in mind, and 2

percent of respondents reported that a corporate entity was most likely to purchase their

ownership interest (Figure 165).

Figure 165: Distribution of AAEP Respondents' Entity That Is Most Likely to Purchase Ownership Interest

26.9%

26.6%2.0%

36.7%

7.9%

Distribution of AAEP Respondents' Entity That Is Most Likely to Purchase Owneship Interest (n=305)

Current associate

Veterinarian not currentlyworking at your practice

Corporate entity

Not sure

Other

Page 496 of 577



Factors Affecting Ownership Interest

Half of the AAEP respondents who were associates expressed that they were interested in

buying ownership shares at some point during their career. The following binary logit

regression looks at a few factors that affect interest in pursuing practice ownership. A binary

logit measures the relationship between the variable of interest (dependent variable) and the

factors (independent variables) hypothesized to affect the variable of interest that is

mathematically computed. In the binary logistic regression, however, the dependent variable

has only two values (1=yes, 0=no) and the relationship measured is the probability of the

dependent variable occurring when the factor occurs. The dependent variable value of 1 was

assigned to veterinarians who were interested in buying shares of a practice, and a value of 0

was assigned if they were not interested (or they were unsure).

Independent variables that were used to attempt to explain the probability of obtaining

ownership interest were age, year of graduation, gender, children, board certification,

residency and internship participation, work region, equine sector, business model and current

practice size.


factors were omitted from the model: work Region 9, general equine sector, ambulatory

business model, and five to nine staff members in a practice.

In this table the coefficients are used to calculate the probability of an individual respondent

falling into a specific category (interested in practice ownership or not interested in practice

ownership). The main gauge to observe is whether the coefficient is positive or negative. This

will indicate the direction of the relationship (i.e., negative is more likely to lead to not

Page 497 of 577



interested in practice ownership and positive is more likely to be interested in practice

ownership).

Variables that significantly contribute to the predictive ability of the model have a p-value of .10

or less in the column labeled “Sig.” Variables that are significant at the 10 percent, 5 percent

and 1 percent level are reported in explaining the factors affecting interest in practice

ownership . The “Odds Ratio” column is the odds ratio for each of the independent variables

and is defined as “the change in odds of being in one of the categories of outcome (interested

in practice ownership or not interested in practice ownership) when the value of one of the

independent variables (predictors) increases by one point.”66 To interpret the odds ratio, the

odds ratio value is reduced by 1 to obtain the likelihood of the event occurring.

Results in Table 148 show that for each additional year of experience (based on graduation

year) the odds of being interested in practice ownership versus not interested in practice

ownership was .09 lower, given all the other variables are held constant; in other words, each

additonal year of experience decreases the odds of being interested in practice ownership by

nine percent. For AAEP respondents who are female, the odds of interest in practice ownership

versus not interested in practice ownership was .78 lower than males, given all other variables

are held constant. The odds of a respondent interested in practice ownership versus not

interested in practice ownership was greater for those working in Regions 0, 1, 6 and 8,

compared to respondents who work in Region 9, given all other variables are held constant.

For AAEP respondents in the equine companion sector, the odds of interest in practice

ownership versus not interested in practice ownership was 5.52 times greater than

respondents in the general equine sector, given all other variables are held constant. In

66 Barbara G. Tabachnick and Linda S. Fidell . Using Multivariate Statistics, 6th Edition (New York City, New York: Pearson, 2013), pg.8.

Page 498 of 577



addition, the odds of interest in practice ownership versus not interested in practice ownership

were greater in the Thoroughbred racing (30.06 greater) and reproductive (16.34 greater)

sectors compared to the general equine sector in the AAEP sample, given all other variables are

held constant.

Table 148: Factors Affecting Interest in Practice Ownership


Age -0.047 0.056 0.40 0.95 Graduation Year -0.098 0.060 0.10* 0.91 Gender (Female=1) -1.533 0.577 0.01*** 0.22 Children (Yes=1) 0.794 0.466 0.09* 2.21 Board Certified (Yes=1) 0.621 1.155 0.59 1.86 Internship (Yes=1) -0.843 0.495 0.09* 0.43 Residency (Yes = 1) -0.353 1.103 0.75 0.70 Region 0 3.048 0.920 0.00*** 21.06 Region 1 1.390 0.740 0.06** 4.01 Region 2 0.445 0.748 0.55 1.56 Region 3 0.233 0.819 0.78 1.26 Region 4 -1.266 0.915 0.17 0.28 Region 5 0.250 0.757 0.74 1.28 Region 6 1.581 0.871 0.07* 4.86 Region 7 -0.010 0.775 0.99 0.99 Region 8 1.992 0.843 0.02** 7.33 Region 9 (baseline) Omitted General equine (baseline) Omitted Working 1.166 1.401 0.41 3.21 English performance 0.575 0.554 0.30 1.78 Companion 1.708 0.915 0.06* 5.52 Standardbred racing 0.035 1.538 0.98 1.04 Thoroughbred racing 3.403 1.691 0.04** 30.06 Reproductive 2.794 1.235 0.02** 16.34 Western -0.052 1.049 0.96 0.95 Ambulatory (baseline) Omitted Ambulatory with haul-in facility -0.331 0.513 0.52 0.72 Haul-in only -0.083 1.485 0.96 0.92 Specialty/referral - limited service hospital -1.761 1.545 0.25 0.17

Page 499 of 577



Specialty/referral - full service hospital 1.194 1.559 0.44 3.30 Specialty/referral - limited service hospital with ambulatory

0.588 1.327 0.66 1.80

Specialty/referral - full service hospital with ambulatory

0.799 0.693 0.25 2.22

One staff member -1.138 1.930 0.56 0.32 2 to 4 staff members -0.584 0.613 0.34 0.56 5 to 9 staff members (baseline) Omitted 10 to 19 staff members -0.073 0.525 0.89 0.93 20 to 49 staff members 0.846 0.760 0.27 2.33 50 or more staff members -1.663 1.743 0.34 0.19 Constant 3.338 1.778 0.06 28.16

Observations 195


Note: Other business model, gaited breed and Quarter Horse racing were omitted from the

model because these variables prevented estimation.



Page 500 of 577



6.6 COMPENSATION METHODS

There are multiple ways a veterinarian can be compensated for services performed in a

veterinary practice including hourly wages, salary, production-based compensation, and a blend

of base salary with opportunity for production-based compensation. To better understand

compensation patterns in the workplace, the survey asked AAEP respondents a series of

questions related to how they are paid for their work as a veterinarian.

The survey found that 39.2 percent of respondent owners were compensated with no

differentiation between pay for effort as a veterinarian and pay as an owner, followed by 20.3

percent of owners with differentiation between pay for effort as a veterinarian and pay as an

owner. The remaining 40.5 percent of owner respondents were either compensated hourly or

per diem (1.3 percent), production-based only (11.3 percent), salary only (13.3 percent), salary

with opportunity for production-based pay (8.0 percent), salary with non-production based

incentive (1.3 percent), or some other form of compensation (5.3 percent). For respondent

associates, 49.3 percent were on a salary with opportunity for production-based compensation,

followed by 29.5 percent who were paid salary only. The remaining 21.2 percent of associate

respondents were compensated hourly or per diem (3.4 percent), received purely production-

based pay (16 percent), salary with non-production-based incentive (0.9 percent), or earned

some other form of compensation (0.9 percent) (Table 149).

Page 501 of 577



Table 149: Distribution of AAEP Respondents’ Method of Compensation for Their Work as a Veterinarian

Compensation Method Owner (n=301)

Associate (n=207)

Hourly or per diem 1.3% 3.4% Production based only 11.3% 16.0% Salary only 13.3% 29.5% Salary with opportunity for production-based compensation 8.0% 49.3% Salary with non-production-based incentive 1.3% 0.9% Owner distribution with no differentiation between pay for effort as a veterinarian and pay as an owner

39.2%

Owner distribution with differentiation between pay for effort as a veterinarian and pay as an owner

20.3%

Other 5.3% 0.9% Total 100.0% 100.0%

Associate Compensation

Among associates, more than 60 percent of respondents in English and Western performance

stated that they had a salary with the opportunity for production-based compensation. More

than 50 percent of respondents in the equine companion, reproductive, and ranch or working

categories were compensated on a strictly salary basis. Of Thoroughbred racing respondents,

46.2 percent reported their compensation was salary only, and 38.5 percent earned a salary

with opportunity for production-based compensation (Table 150).

Page 502 of 577



Table 150: Distribution of AAEP Respondents’ Compensation Method of Associates by Primary Equine Sector67

Hourly or per diem

Production based only

Salary only

Salary with opportunity

for production-

based compensation

Salary with non-

production-based

incentive

Other Total


0.0% 21.2% 9.1% 69.7% 0.0% 0.0% 100.0%


10.0% 10.0% 50.0% 30.0% 0.0% 0.0% 100.0%

Racing - QH (n=3)

0.0% 33.3% 33.3% 33.3% 0.0% 0.0% 100.0%

Racing - TB (n=13)

7.7% 7.7% 46.2% 38.5% 0.0% 0.0% 100.0%

Reproductive (n=14)

0.0% 21.4% 57.1% 7.1% 7.1% 7.1% 100.0%


0.0% 25.0% 75.0% 0.0% 0.0% 0.0% 100.0%


0.0% 0.0% 37.5% 62.5% 0.0% 0.0% 100.0%


4.2% 16.1% 26.3% 51.7% 0.8% 0.8% 100.0%

Observing compensation by business model, the main methods of compensation were salary

only, and salary with opportunity for production-based compensation. 25 percent of

respondents in a full-service hospital with no ambulatory division reported a salary

compensation method, as did 75 percent of respondents working in a limited service

specialty/referral hospital with no ambulatory division. More than 50 percent of respondents

who worked in an ambulatory practice, full-service specialty/referral hospital without

ambulatory division, limited-service specialty/referral hospital with ambulatory division, and a

full-service specialty/referral hospital with ambulatory division received salary with opportunity

for production-based compensation. 57.1 percent of respondents who reported other form of

business model received salary based compensation. Half of the respondents in the haul-in

67 Gaited breeds and Standardbred racing were omitted because the number of observations did not permit estimation.

Page 503 of 577



facility only business model reported salary-only compensation, while the other half received

salary with opportunity for production-based compensation (Table 151).

Table 151: Distribution of AAEP Respondents’ Compensation Method of Associates by Business Model

Hourly or per diem


Salary only


for production-

based compensation

Salary with non-

production- based

incentive

Other Total

Ambulatory (n=52)

5.8% 7.7% 32.7% 53.8% 0.0% 0.0% 100.0%

Ambulatory with Haul-in facil ity (n=79)

5.1% 20.3% 30.4% 43.0% 0.0% 1.3% 100.0%

Haul-in facility only (n=4)

0.0% 0.0% 50.0% 50.0% 0.0% 0.0% 100.0%

Specialty/referral hospital-Limited service (e.g., no colic surgery, isolation, neonatology) (n=4)

0.0% 0.0% 75.0% 25.0% 0.0% 0.0% 100.0%

Specialty/referral hospital-Full service (n=4)

0.0% 0.0% 25.0% 50.0% 25.0% 0.0% 100.0%

Specialty/referral hospital-Limited service with ambulatory division (n=5)

0.0% 20.0% 0.0% 60.0% 0.0% 20.0% 100.0%

Specialty/referral hospital-Full service with ambulatory division (n=50)

0.0% 22.0% 18.0% 60.0% 0.0% 0.0% 100.0%

Other (n=7) 0.0% 14.3% 57.1% 14.3% 14.3% 0.0% 100.0%

68 percent of associate veterinarian respondents reported they preferred a mix of base salary

with the opportunity for additional production-based compensation, followed by 21.2 percent

who preferred straight salary, 8.1 percent who were partial to production-based only, and 2.7

percent who preferred an hourly or per diem compensation arrangement (Figure 166).

Page 504 of 577



Figure 166: Distribution of AAEP Respondent Associates’ Preferred Method of Compensation

Owners’ Compensation

No more than one-fifth of practice owner respondents in any sector received compensation for

their efforts as a veterinarian separate from their compensation for being a practice owner,

with the exception of 26.7 percent of owners who practiced in the racing Thoroughbred sector.

Very few owner respondents were compensated based on a salary with a non-production-

based incentive; those who were worked in the English performance and general equine

practice sectors. At least 20 percent of owner respondents in the racing sectors, ranch or

working, and Western performance were compensated on production only (Table 152).

21.2%

8.1%

2.7%68.0%

Distribution of AAEP Respondent Associates' Preferred Method of Compensation (n=261)

Salary only

Production-based only

Hourly or per diem

Mix of base salary withoppurtunity for production-based compensation

Page 505 of 577



Table 152: Distribution of AAEP Respondent Compensation Method of Owners by Primary Equine Sector68

Hourly or per diem


Salary only

Salary with opportunity for

production-based compensation

Salary with non-

production- based

incentive English performance (n=46)

0.0% 8.7% 17.4% 8.7% 2.2%


0.0% 0.0% 6.7% 13.3% 0.0%

Racing - STB (n=4)

25.0% 50.0% 0.0% 0.0% 0.0%

Racing - TB (n=15)

0.0% 20.0% 6.7% 13.3% 0.0%

Reproductive (n=15)

0.0% 13.3% 13.3% 6.7% 0.0%


0.0% 25.0% 0.0% 0.0% 0.0%


11.1% 22.2% 11.1% 11.1% 0.0%


1.1% 9.7% 14.0% 7.5% 1.6%

68 Gaited breeds and Quarter Horse racing were omitted because the number of observations did not permit estimation.

Page 506 of 577



Owner distribution with no

differentiation*

Owner distribution with differentiation**

Other Total


39.1% 19.6% 4.3% 100.0%


46.7% 20.0% 13.3% 100.0%

Racing-STB (n=4)

25.0% 0.0% 0.0% 100.0%

Racing-TB (n=15)

20.0% 26.7% 13.3% 100.0%

Reproductive (n=15)

53.3% 13.3% 0.0% 100.0%


25.0% 0.0% 50.0% 100.0%


44.4% 0.0% 0.0% 100.0%


39.2% 22.6% 4.3% 100.0%

*Owner distribution with no differentiation between pay for effort as a veterinarian and pay as

an owner

**Owner distribution with differentiation between pay for effort as a veterinarian and pay as an

owner

40 percent of owner respondents in a full-service specialty/referral hospital and 50 percent in

limited-service specialty/referral hospital were on a salary with opportunity for production-

based compensation. Owner respondents who worked in specialty/referral hospitals that were

full service (40 percent), limited service with ambulatory division (57.1 percent), or full service

with ambulatory division (38.5 percent) reported the highest percentages of owner

compensation with differentiation between effort as a veterinarian and payment for being an

owner (Table 153).

Page 507 of 577



Table 153: Distribution of AAEP Respondent Compensation Method of Owners by Business Model

Hourly or per diem


Salary only


for production-

based compensation

Salary with non-

production- based

incentive

Ambulatory (n=135) 0.7% 14.8% 11.1% 5.2% 0.7% Ambulatory with Haul-in facility (n=103)

2.9% 6.8% 16.5% 5.8% 1.0%

Haul-in facility only (n=3) 0.0% 0.0% 66.7% 0.0% 0.0% Specialty/referral hospital-Limited service (e.g. no colic surgery, isolation, neonatology) (n=6)

0.0% 0.0% 0.0% 50.0% 16.7%


0.0% 0.0% 0.0% 40.0% 20.0%


0.0% 14.3% 0.0% 14.3% 0.0%


0.0% 11.5% 11.5% 15.4% 0.0%

Other (n=13) 0.0% 23.1% 15.4% 7.7% 0.0%

Page 508 of 577



Owner distribution

with no differentiation*

Owner distribution with differentiation**

Other Total

Ambulatory (n=135) 48.9% 12.6% 5.9% 100.0% Ambulatory with Haul-in facility (n=103)

35.0% 27.2% 4.9% 100.0%

Haul-in facility only (n=3) 33.3% 0.0% 0.0% 100.0% Specialty/referral hospital-Limited service (e.g. no colic surgery, isolation, neonatology) (n=6)

16.7% 0.0% 16.7% 100.0%


0.0% 40.0% 0.0% 100.0%


14.3% 57.1% 0.0% 100.0%


23.1% 38.5% 0.0% 100.0%

Other (n=13) 38.5% 0.0% 15.4% 100.0%

*Owner distribution with no differentiation between pay for effort as a veterinarian and pay as

an owner

**Owner distribution with differentiation between pay for effort as a veterinarian and pay as an

owner

Page 509 of 577



Owner respondents were asked they received an owner distribution with no differentiation

between pay for effort as a veterinarian and pay as an owner, or received an owner distribution

with differentiation between pay for effort as a veterinarian and pay as an owner. Among

owner respondents who had no differentiation between pay for effort as a veterinarian and pay

as an owner, 54.2 percent were prorated by their percent of ownership, 6.8 percent were

prorated by their percent of revenue production and 39 percent used some other formula.

Among respondents who had differentiation between pay for effort as a veterinarian and pay

as an owner, 61.5 percent indicated that profit is distributed and prorated by their percent of

ownership, 21.5 percent had profit prorated by their percent of revenue production, and 16.9

percent stated some other form of compensation (Figure 167). For those who chose Other, the

majority stated that they were the sole owner of the practice.

54.2%

6.8%

39.0%

No differentiation between pay for effort as aveterinarian and pay as an owner

% o

f Res

pond

ents

Distribution of AAEP Respondents' Owner Compensatation with No Differentiation (n=118)

Other

Owner pay is prorated bytheir percent of production

Owner pay is prorated bytheir percent of ownership

Page 510 of 577



Figure 167: Distribution of AAEP Respondents’ Owner Compensation with Differentiation and with No Differentiation between Pay for Effort as a Veterinarian and Pay as an Owner

61.5%

21.5%

16.9%

With differentiation between pay for effort as aveterinarian and pay as an owner

% o

f Res

pond

ents

Distribution of AAEP Respondents' Owner Compensatation with Differentiation (n=65)

Other

Profit is distributed toowners prorated by theirpercent of production

Profit is distributed toowners prorated by theirpercent of ownership

Page 511 of 577



Revenue Production

AAEP respondents, both owners and associates, were asked to indicate how their

compensation based on revenue production was calculated: 14.6 percent of owners and 22.9

percent of associates were compensated based on a consistent percentage of gross

production/sales revenue for all services, medical supplies, and pharmaceuticals. Among

associate respondents, 24.3 percent reported that compensation was derived from a higher

percentage of gross production/sales revenue for services, and a lower percentage of sales of

medical supplies and pharmaceuticals. Less than 10 percent of either group of respondents was

paid on net production, or a variable commission rate depending on the nature of the services

performed (Table 154).

Table 154: Distribution of AAEP Respondents’ Revenue Production Compensation

Owner (n=294)

Associate (n=210)

I am not compensated based on revenue production 53.7% 37.6% Consistent percentage of gross production/sales revenue for all services, medical supplies, and pharmaceuticals

14.6% 22.9%

Consistent percentage of net production/sales revenue for all services, medical supplies, and pharmaceuticals

8.8% 3.3%

Other 8.5% 2.9% Higher percentage of gross production/sales revenue for services, with lower percentage for medical supplies, and pharmaceuticals

6.1% 24.3%

Differing percentage of net production/sales depending on net of particular type of service (e.g., dentistry at one rate, vaccinations at a different rate)

5.4% 1.9%

Consistent percentage of gross production/sales revenue for all services, with no compensation for sales of medical supplies, and pharmaceuticals

1.4% 3.8%

Differing percentage of gross production/sales depending on type of service (e.g., dentistry at one rate, vaccinations at a different rate)

1.4% 3.3%

Total 100.0% 100.0%

Page 512 of 577



Percentage of Household Income

When asked what percentage of household income was contributed by the respondent, 65.4

percent of male Equine respondents reported that they contributed 76 percent to 100 percent

to their total household income, compared to 42.2 percent of female respondents. A smaller

proportion of male respondents (12.8 percent) reported that they contributed 26 percent to 50

percent of their total household income, compared to 32.6 percent of female respondents.

Among AVMA respondents, 58.1 percent of males contributed 76 percent to 100 percent of

their total household income compared to 42.9 percent of females; 13.7 percent of male

respondents contributed 26 percent to 50 percent of their total household income, and 26.2

percent of females contributed a similar level (Figure 168).

Male (n=257) Female (n=344)76-100% 65.4% 42.2%51-75% 18.3% 19.2%26-50% 12.8% 32.6%0-25% 3.5% 6.1%

% o

f Res

pond

ents

Gender

Percentage of Equine Respondents' Household Income Contribution by Gender

Page 513 of 577



Figure 168: Percentage of Equine and AVMA Respondents’ Household Income Contribution by Gender

By the time they have worked in equine medicine for 30 years or more, more than 50 percent

of Equine respondents were contributing 76 percent to 100 percent of their household’s total

income. AVMA respondents revealed a similar pattern as AAEP respondents but there was a

lower percent of respondents who contributed income to the household in the 76 percent to

100 percent range, except for respondents who graduated prior to 1967 (Figure 169).

Male (n=621) Female (n=1,514)76-100% 58.1% 42.9%51-75% 25.0% 23.9%26-50% 13.7% 26.2%0-25% 3.2% 6.9%

% o

f Res

pond

ents

Gender

Percentage of AVMA Respondents' Household Income Contribution by Gender

Page 514 of 577



Figure 169: Percentage of Equine and AVMA Respondents’ Household Income Contribution by Graduation Year

0%20%40%60%80%

100%

% R

espo

nden

ts

Graduation Year

Percentage of Equine Respondents' Household Income Contribution by Graduation Year (n=601)

0-25% 26-50% 51-75% 76-100%

0%20%40%60%80%

100%

% o

f Res

pond

ents

Graduation Year

Percentage of AVMA Respondents' Household Income Contribution by Graduation Year (n=2,219)

0-25% 26-50% 51-75% 76-100%

Page 515 of 577



Practice Management Compensation

Among the AAEP respondents, 94 of 528 (17.8 percent) received compensation for the practice

management duties they performed in their practices, while a considerably larger group 340

respondents (64.4 percent) who had practice management duties did not receive

compensation for these services. An additional 94 respondents (17.8 percent) did not perform

practice management duties in their position. Of the respondents who did perform practice

management duties, 55.3 percent were male and 44.7 percent were female.

When examining compensation for practice management duties by gender, 22.7 percent of the

male respondents and 14.0 percent of the female respondents received compensation while

64.6 percent of males and 64.2 percent of females did not; 12.7 percent of males and 21.7

percent of females did not perform practice management duties in their position (Figure 170).

Figure 170: Distribution of AAEP Respondents’ Compensation of Practice Management Duties by Gender

22.7% 14.0%

64.6%64.2%

12.7% 21.7%


% o

f Res

pond

ents

Gender

Distribution of AAEP Respondents' Compensation of Practice Management Duties by Gender

I do not perform practicemanagement duties in myposition

Did not receivecompensation

Received compensation

Page 516 of 577



A little more than 20 percent of respondents who graduated from veterinary school more than

10 years ago reported that they received compensation for practice management duties in their

position, while well over 50 percent of respondents in all graduation categories did not receive

compensation for performing this work. Of respondents who graduated within the past five

years, 41.8 percent did not perform practice management duties (Figure 171).

Figure 171: Distribution of AAEP Respondents’ Compensation for Practice Management Duties by Graduation Year

52.7%59.3%

66.3%68.1%73.0%69.0%100.0%

0%

20%

40%

60%

80%

100%

2012-20162007-20111997-20061987-19961977-19861967-1976< 1967

% o

f Res

pond

ents

Year of Graduation

Distribution of AAEP Respondents' Compensation for Practice Management Duties by Graduation Year (n=524)

I do not perform practice management duties in my position

Did not receive compensation

Received compensation

Page 517 of 577



Nearly three-quarters (73.3 percent) of AAEP respondents in a private practice owned by a sole

veterinarian did not receive practice management compensation compared to 49.7 percent in a

private practice owned by partners/multiple shareholders. Almost one-third (29.3 percent) of

respondents in a partner/multiple shareholder private practice did not perform management

duties, although 21 percent of those who did received compensation compared to 15 percent

in a sole-owner private practice. Of respondents in a private corporate practice (one of multiple

practices owned by veterinarian[s]), 50 percent did not receive compensation for performing

this work, 30 percent did receive compensation for it, and 20 percent did not perform practice

management duties (Table 155).

Table 155: Distribution of AAEP Respondents’ Compensation of Practice Management Duties by Practice Type

Private Practice

owned by a single

veterinarian (n=333)

Private Practice owned by

partners/multiple shareholders

(n=181)

Private Corporate Practice)

(n=10)

Receive 15.0% 21.0% 30.0% Do not receive 73.3% 49.7% 50.0% I do not perform practice management duties in my position

11.7% 29.3% 20.0%

Note: Corporate practice was removed because the number of observations did not permit

estimation.

Page 518 of 577



6.7 RETURNS TO EQUINE VETERINARY PRACTICE

Descriptive statistics were calculated for 2015 revenue, expenses and other variables relative to

significant factors used to determine returns to equine veterinary practices of AAEP

respondents (and Equine respondents for the personal gross revenue of production

subsection). Because the mean can be influenced by values at the high end of the distributions,

the median the value that divides the distribution in half may be a more meaningful

estimate of the central tendency of the population, and so was included in the summary

statistic tables. In certain analyses, the median is reported where appropriate.

6.7.1 Personal Gross Revenue of Production for 2015

Respondents who reported income as 15 percent to 30 percent of their total gross revenue

from production in 2015 were included in this portion of the analysis. Outliers who were

removed from the summary statistic tables are Equine respondents and AVMA respondents

who reported more than $1 million in personal gross revenue of production for 2015 (eight out

of 439 respondents in the Equine sample and 13 in the AVMA sample). All respondents

reporting income as 15 percent to 30 percent of their production were included in the graphs in

this subsection.

Owner and Associate

The median personal gross revenue from production for practice owner Equine respondents

was $385,832, and the median personal gross revenue from production for associates was

$356,500. For AVMA respondents, the median personal gross revenue from production was

$500,000 for owners and $450,000 for associates (Table 156).

Page 519 of 577



Table 156: Mean Personal Gross Revenue of Production of Equine and AVMA Respondents by Owner and Associate

Equine Obs. Mean Std. Dev. 1st Quartile

Median 3rd Quartile

Min. Max.

Owner 80 $416,863 $218,731 $262,000 $385,832 $520,000 $70,000 $1,000,000 Associate 88 $386,281 $162,033 $280,000 $356,500 $450,000 $120,000 $1,000,000

AVMA Obs. Mean Std. Dev. 1st Quartile

Median 3rd Quartile

Min. Max.

Owner 118 $511,062 $216,301 $380,000 $500,000 $600,000 $42,000 $1,000,000 Associate 232 $462,905 $171,098 $350,000 $450,000 $553,000 $100,000 $1,000,000

The distribution of the Equine and AVMA samples is presented in Figure 172. The largest

percent of owner and associate Equine respondents reported their personal gross revenue of

production in the $300,000-$400,000 range, compared to AVMA owner and associate

respondents who reported personal revenue of production in the $500,000-$600,000 range.

0.0%5.0%

10.0%15.0%20.0%25.0%30.0%35.0%40.0%

% o

f Res

pond

ents

Personal Gross Revenue of Production ($)

Distribution of Equine Respondents' 2015 Total Personal Gross Revenue of Production by Employment Status

Owner (n=87) Associate (n=89)

Page 520 of 577



Figure 172: Distribution of Equine and AVMA Respondents’ 2015 Total Personal Gross Revenue of Production by Employment Status

Veterinary Experience (measure by graduation year)

The mean personal gross revenue of production among Equine respondents by graduation year

showed a gradual increase in revenue production until after 20 years of practicing veterinary

medicine was reached. Respondents less than five years from graduation reported mean gross

revenue production of $306,019, while respondents who had been practicing for more than 30

years produced a mean of $411,528. AVMA respondents showed similar means with respect to

respondents who recently graduated, similarly bringing in less revenue than those with more

experience (Table 157).

0.0%5.0%

10.0%15.0%20.0%25.0%30.0%

% o

f Res

pond

ents

Personal Gross Revenue of Production ($)

Distribution of AVMA Respondents' 2015 Total Personal Gross Revenue of Production by Employment Status

Owner (n=128) Associate (n=234)

Page 521 of 577



Table 157: Mean Personal Gross Revenue of Production of Equine and AVMA Respondents by Graduation Year


Median 3rd Quartile

Min. Max.

31 years +

24 $411,528 $226,359 $265,000 $398,332 $481,500 $70,000 $1,000,000

21-30 years

36 $431,590 $210,278 $287,500 $355,000 $595,000 $125,000 $1,000,000

11-20 years

29 $441,980 $183,027 $337,168 $442,227 $575,000 $75,000 $825,000

6-10 years

47 $400,613 $188,133 $280,000 $360,000 $430,000 $96,056 $1,000,000

1-5 years

31 $306,019 $98,464 $220,000 $300,000 $374,000 $102,520 $475,000


Median 3rd Quartile

Min. Max.

31 years +

32 $459,491 $194,974 $365,000 $438,790 $572,500 $80,000 $1,000,000

21-30 years

51 $473,444 $219,529 $300,000 $424,162 $600,000 $155,000 $1,000,000

11-20 years

113 $504,236 $202,619 $400,000 $500,000 $600,000 $42,000 $1,000,000

6-10 years

90 $484,490 $165,121 $374,000 $500,000 $574,000 $140,000 $1,000,000

1-5 years

65 $408,080 $119,724 $330,000 $410,000 $452,000 $150,000 $823,000

Page 522 of 577



Similar to the data recorded in the Age Earnings Profile of veterinarians from Section 4, Equine

and AVMA respondents in the first five years after graduation reported producing less revenue

than more seasoned practitioners, with earnings and personal gross revenue production

gradually increasing as they gained more experience in the veterinary field. The majority of all

equine respondents who graduated within the last five years reported personal gross revenue

production of under $500,000, while AVMA respondents within five years of graduation

reported gross revenues in a range spanning from $100,000 to $900,000 (Figure 173).

Less$100k

$100k-$200k

$200k-$300k

$300k-$400k

$400k-$500k

$500k-$600k

$600k-$700k

$700k-$800k

$800k-$900k

$900k-$1m

Over$1m

31 years + (n=27) 3.7% 7.4% 14.8% 18.5% 22.2% 11.1% 0.0% 3.7% 0.0% 3.7% 14.8%21-30 years (n=40) 0.0% 7.5% 15.0% 27.5% 12.5% 5.0% 12.5% 2.5% 2.5% 2.5% 12.5%11-20 years (n=30) 3.3% 6.7% 10.0% 16.7% 30.0% 10.0% 10.0% 6.7% 3.3% 0.0% 3.3%6-10 years (n=47) 2.1% 4.3% 21.3% 31.9% 19.1% 6.4% 6.4% 2.1% 4.3% 0.0% 2.1%5 years (n=31) 0.0% 9.7% 32.3% 38.7% 19.4% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%

% o

f Res

pond

ents

Graduation Year

Distribution of Equine Respondents 2015 Total Personal Gross Revenue of Production by Graduation Year

Page 523 of 577



Figure 173: Distribution of Equine and AVMA Respondents' 2015 Total Personal Gross Revenue of Production by Graduation Year

Gender

The mean personal gross revenue from production among Equine respondents by gender was

$477,929 for males and $346,638 for females. Among AVMA respondents, the mean personal

gross revenue was $515,159 for males and $451,108 for females (Table 158). The distribution of

personal gross revenue from production by gender is presented in Figure 174. It is important to

note, when interpreting this data, that the mean experience (years since graduation) of male

respondents in this study was more than twice that of females.

Less$100k

$100k-$200k

$200k-$300k

$300k-$400k

$400k-$500k

$500k-$600k

$600k-$700k

$700k-$800k

$800k-$900k

$900k-$1m

Over$1m

31 years + (n=37) 5.4% 2.7% 5.4% 16.2% 24.3% 13.5% 10.8% 2.7% 2.7% 0.0% 16.2%21-30 years (n=56) 0.0% 3.6% 14.3% 23.2% 14.3% 10.7% 10.7% 3.6% 5.4% 0.0% 14.3%11-20 years (n=115) 0.9% 4.3% 10.4% 7.0% 25.2% 16.5% 14.8% 7.8% 8.7% 1.7% 2.6%6-10 years (n=91) 0.0% 1.1% 9.9% 18.7% 14.3% 34.1% 14.3% 1.1% 1.1% 3.3% 2.2%5 years (n=65) 0.0% 4.6% 4.6% 32.3% 40.0% 10.8% 6.2% 0.0% 1.5% 0.0% 0.0%

0%10%20%30%40%50%60%70%80%90%

100%

% o

f Res

pond

ents

Graduation Year

Distribution of AVMA Respondents 2015 Total Personal Gross Revenue of Production by Graduation Year

Page 524 of 577



Table 158: Mean Personal Gross Revenue of Production of Equine and AVMA Respondents by Gender


Median 3rd Quartile

Min. Max.

Male 67 $477,929 $215,933 $320,000 $450,000 $605,000 $70,000 $1,000,000 Female 98 $346,638 $138,938 $264,000 $334,234 $400,000 $75,000 $1,000,000


Median 3rd Quartile

Min. Max.

Male 136 $515,159 $201,726 $385,000 $487,500 $600,000 $80,000 $1,000,000 Female 211 $451,108 $173,344 $330,000 $435,000 $550,000 $42,000 $1,000,000

0.0%5.0%

10.0%15.0%20.0%25.0%30.0%35.0%40.0%

% o

f Res

pond

ents

by

Gend

er

Total Personal Gross Revenue of Production ($)

Distribution of Equine Respondents' 2015 Total Personal Gross Revenue of Production by Gender


Page 525 of 577



Figure 174: Distribution of Equine and AVMA Respondents’ 2015 Total Personal Gross Revenue of Production by Gender

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

% o

f Res

pond

ents

Total Personal Gross Revenue of Production ($)

Distribution of AVMA Respondents' 2015 Total Personal Gross Revenue of Production by Gender


Page 526 of 577



Revenue Production Effect on Income

The higher the median personal gross revenue of production reported by Equine and AVMA

respondents, the higher the income bracket a respondent reported (Table 159). Overall, Equine

or AVMA respondents who brought more revenue into the practice reported higher trends in

personal take-home income (Figure 175).

Table 159: Mean Personal Gross Revenue of Production of Equine and AVMA Respondents by Income

Equine Income

Obs. Mean Std. Dev. 1st Quartile

Median 3rd Quartile

Min. Max.

$20,000 to $29,999

5 $112,211 $33,147 $96,056 $115,000 $120,000 $70,000 $160,000

$30,000 to $39,999

6 $168,147 $52,999 $125,000 $162,500 $216,114 $102,520 $240,250

$40,000 to $49,999

11 $201,000 $39,666 $155,000 $206,000 $230,000 $150,000 $264,000

$50,000 to $59,999

8 $268,875 $49,273 $241,000 $289,500 $305,000 $175,000 $305,000

$60,000 to $69,999

26 $299,712 $63,872 $250,000 $285,000 $349,000 $200,000 $400,000

$70,000 to $79,999

28 $334,422 $50,185 $300,000 $333,584 $356,500 $250,000 $463,000

$80,000 to $89,999

18 $383,350 $63,864 $331,300 $367,000 $430,000 $274,000 $500,000

$90,000 to $99,999

8 $419,377 $88,729 $375,000 $395,500 $457,500 $300,000 $599,015

$100,000 to $124,999

28 $494,005 $112,423 $400,000 $450,000 $578,996 $350,000 $770,000

$125,000 to $149,999

10 $550,000 $114,770 $450,000 $497,500 $600,000 $450,000 $775,000

$150,000 to $174,999

8 $687,625 $147,467 $570,000 $677,500 $790,000 $500,000 $926,000

$175,000 to $199,999

6 $760,833 $151,011 $650,000 $732,500 $850,000 $600,000 $1,000,000

$200,000 or greater

5 $905,000 $94,207 $825,000 $900,000 $1,000,000 $800,000 $1,000,000

Page 527 of 577



AVMA Income


Median 3rd Quartile

Min. Max.

$20,000 to $29,999

5 $121,400 $23,554 $97,000 $150,000 $1,000,000 $784,700 $1,000,000

$30,000 to $39,999

2 $162,500 $53,033 $125,000 $162,500 $200,000 $125,000 $200,000

$40,000 to $49,999

13 $210,077 $53,021 $170,000 $200,000 $250,000 $150,000 $300,000

$50,000 to $59,999

12 $258,974 $42,602 $227,500 $258,948 $302,500 $170,000 $310,000

$60,000 to $69,999

29 $311,640 $66,751 $250,000 $300,000 $374,000 $200,000 $420,000

$70,000 to $79,999

48 $358,317 $74,445 $300,000 $352,657 $416,000 $243,000 $500,000

$80,000 to $89,999

43 $396,618 $67,443 $350,000 $400,000 $450,000 $285,354 $525,000

$90,000 to $99,999

31 $470,341 $73,974 $420,000 $452,000 $500,000 $325,000 $650,000

$100,000 to $124,999

82 $511,922 $78,735 $450,000 $500,000 $570,000 $350,000 $700,000

$125,000 to $149,999

39 $597,400 $107,567 $500,000 $600,000 $670,000 $424,162 $823,000

$150,000 to $174,999

24 $693,649 $147,027 $600,000 $637,287 $797,500 $500,000 $1,000,000

$175,000 to $199,999

11 $735,841 $138,377 $646,000 $700,000 $850,000 $575,000 $1,000,000

$200,000 or greater

19 $889,037 $86,009 $800,000 $850,000 $1,000,000 $784,700 $1,000,000

Page 528 of 577



Less than$50,000 (n

= 23)

$50,000-$99,999 (n

= 88)

$100,000-$149,999

(n=38)

$150,000-$199,999

(n=14)

$200,000or more(n=13)

Over $1,000,000 0.0% 0.0% 0.0% 7.1% 76.9%$900,000-$1,000,000 0.0% 0.0% 0.0% 7.1% 7.7%$800,000-$900,000 0.0% 0.0% 0.0% 14.3% 15.4%$700,000-$800,000 0.0% 0.0% 7.9% 21.4% 0.0%$600,000-$700,000 0.0% 0.0% 18.4% 28.6% 0.0%$500,000-$600,000 0.0% 2.3% 15.8% 21.4% 0.0%$400,000-$500,000 0.0% 18.2% 50.0% 0.0% 0.0%$300,000-$400,000 0.0% 51.1% 7.9% 0.0% 0.0%$200,000-$300,000 39.1% 27.3% 0.0% 0.0% 0.0%$100,000-$200,000 47.8% 1.1% 0.0% 0.0% 0.0%Less $100,000 13.0% 0.0% 0.0% 0.0% 0.0%

47.8%

51.1%

50.0% 28.6%

76.9%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

% o

f Res

pond

ents

Income

Distribution of Equine Respondents' 2015 Total Personal Gross Revenue of Production by Income

Page 529 of 577



Figure 175: Distribution of Equine and AVMA Respondents’ 2015 Total Personal Gross Revenue of Production by Income

Less than$50,000 (n

= 23)

$50,000-$99,999(n=88)

$100,000-$149,999

(n=38)

$150,000-$199,999

(n=14)

$200,000 ormore

(n=13)Over $1,000,000 0.0% 0.0% 0.0% 8.6% 56.3%$900,000-$1,000,000 0.0% 0.0% 0.0% 8.6% 6.3%$800,000-$900,000 0.0% 0.0% 2.5% 8.6% 34.4%$700,000-$800,000 0.0% 0.0% 5.8% 17.1% 3.1%$600,000-$700,000 0.0% 1.8% 22.3% 40.0% 0.0%$500,000-$600,000 0.0% 9.2% 38.8% 17.1% 0.0%$400,000-$500,000 0.0% 34.4% 27.3% 0.0% 0.0%$300,000-$400,000 9.1% 36.8% 3.3% 0.0% 0.0%$200,000-$300,000 27.3% 17.2% 0.0% 0.0% 0.0%$100,000-$200,000 50.0% 0.6% 0.0% 0.0% 0.0%Less $100,000 13.6% 0.0% 0.0% 0.0% 0.0%

50.0% 36.8%

38.8%

40.0%

56.3%

0%10%20%30%40%50%60%70%80%90%

100%

% o

f Res

pond

ents

Income

Distribution of AVMA Respondents' 2015 Total Personal Gross Revenue of Production by Income

Page 530 of 577



Practice Size

Respondents’ median personal gross revenue from production, in general, consistently

increased as the number of veterinarians in a practice increased to a three-FTE veterinarian

practice. An AAEP respondent in a one-veterinarian practice with no support staff produced a

median of $205,000 in gross revenue; a one-veterinarian practice with support staff earned

$330,000 as a median personal gross revenue from production; and a veterinary practice of two

FTE veterinarians, $400,000 (Table 160).

Table 160: Mean Personal Gross Revenue of Production of AAEP Respondents by Number of FTE Veterinarians in a Practice

Number of FTE Veterinarians


Median 3rd Quartile

Min. Max.

Solo practitioner (no support staff)

10 $207,452 $121,427 $102,520 $205,000 $275,000 $70,000 $427,000

One FTE veterinarian

22 $371,369 $174,163 $250,000 $330,000 $450,000 $150,000 $785,000

Two FTE veterinarians

16 $438,614 $194,592 $312,500 $400,000 $516,496 $200,000 $926,000

Three FTE veterinarians

16 $339,159 $81,833 $275,000 $347,480 $385,500 $151,000 $450,000

Four FTE veterinarians

9 $385,222 $162,897 $300,000 $382,000 $430,000 $175,000 $750,000

Five FTE veterinarians

6 $463,705 $189,965 $360,000 $446,114 $500,000 $230,000 $800,000

Six or more FTE veterinarians

9 $404,222 $233,820 $295,000 $350,000 $400,000 $220,000 $1,000,000

The general trend among AAEP respondents was that the larger the practice size, the higher the

number of respondents who produced revenue of more than $300,000 (Figure 176). A greater

percent of respondents from five- and six-doctor practices earned revenue of more than

$500,000 than did those from four-doctor and smaller practices.

Page 531 of 577



Figure 176: Distribution of AAEP Respondents’ 2015 Total Personal Gross Revenue of Production by FTE Veterinarians in a Practice

0%10%20%30%40%50%60%70%80%90%

100%

% o

f Res

pond

ents

FTE Veterinarians

Distribution of AAEP Respondents' 2015 Total Personal Gross Revenue of Production by Number of FTE Veterinarians in a Practice

Over $1,000,000

$900,000-$1,000,000

$800,000-$900,000

$700,000-$800,000

$600,000-$700,000

$500,000-$600,000

$400,000-$500,000

$300,000-$400,000

$200,000-$300,000

$100,000-$200,000

Less $100,000

Page 532 of 577



6.7.2 Total Practice Gross Revenue of Production

AAEP respondents who are practice owners in the United States were specifically asked about

the gross revenue of production of their practice. Respondents were asked to record the

practice’s gross revenue of production that was listed on their tax forms Sole Proprietorships:

Tax Form 1040/Schedule C, Line 7; Partnerships: Tax Form 1065, Line 1C; Corporations: Tax

Form 1120, Line 1C. Owners who reported between $0 and $6 million of total practice gross

revenue of production in 2015 were used (213 out of 221 respondents) to account for the

outliers in the data. With these parameters , the overall mean of AAEP respondent owners’

total practice gross production revenue was $903,487. The median was $450,000.

Practice Type

Among AAEP respondents, the median total practice gross revenue from production for owners

who are solo practitioners was $125,000; that figure for owners in a private practice owned by

a sole veterinarian with support staff was $431,416. For respondents in private practice owned

by multiple partners/shareholders, the median was $1,887,500 (not shown in Table 161). For

respondents in a private practice owned by multiple partners/shareholders, the median was

then broken out by the number of FTEs at the practice, and the general trend of the reported

median increased for each additional FTE veterinarian (owners, associates, interns, and

resident (residency participants) in a practice (Table 161).

Page 533 of 577



Table 161: Mean Practice Gross Revenue of Production of AAEP Respondents by Practice Type 69

Type of Practice Obs. Mean Std. Dev. 1st Quartile Median

Solo Practitioner 42 $170,940 $139,599 $77,000 $125,000 Private Practice Owned by one veterinarian

114 $610,566 $513,851 $250,000 $431,416

Private Practice Owned by partners/multiple shareholders: One FTE veterinarian 8 $648,120 $655,788 $248,000 $327,527 Two FTE veterinarians 9 $974,047 $716,942 $560,000 $702,809 Three FTE veterinarians 7 $1,132,635 $620,182 $517,576 $1,264,895 Four FTE veterinarians 6 $2,413,017 $1,094,687 $1,632,000 $2,062,500 Five FTE veterinarians 3 $1,775,773 $456,109 $1,469,790 $1,557,528 Six FTE veterinarians 23 $3,152,502 $1,319,781 $2,394,050 $3,300,000

Type of Practice Obs. 3rd Quartile Min. Max.

Solo Practitioner 42 $230,000 $80 $565,000 Private Practice Owned by one veterinarian

114 $835,239 $250 2,500,000

Private Practice Owned by partners/multiple shareholders: One FTE veterinarian 8 $1,007,802 $18,305 $2,000,000 Two FTE veterinarians 9 $940,899 $288,113 $2,195,000 Three FTE veterinarians 7 $1,705,971 $140,000 $1,800,000 Four FTE veterinarians 6 $3,400,000 $1,242,103 $4,079,000 Five FTE veterinarians 3 $2,300,000 $1,469,790 $2,300,000 Six FTE veterinarians 23 $4,043,000 $453,000 $5,300,000

69 Corporate practice was omitted because the number of observations did not permit estimation.

Page 534 of 577




Although a statistical test measuring the significance of equine sectors to practice revenue was

not significant, Table 162 is presented for potential interest to the reader. On average,

respondents who are owners of a practice in the Thoroughbred racing sector had the highest

median revenue at $1.2 million, followed by the reproductive sector at $653,806. The lowest

median practice gross revenue of production was reported by respondents in the Western

performance sector, with $240,000.

Table 162: Practice Gross Revenue of Production of AAEP Respondents by Primary Equine Sector70

Equine Sectors Obs. Mean Std. Dev. 1st Quartile Median

English performance 37 $820,983 $1,180,595 $216,114 $325,000 Equine companion 8 $576,055 $630,955 $164,367 $270,000 Racing - STB 5 $397,000 $487,465 $58,000 $212,000 Racing - TB 9 $1,479,025 $1,466,767 $375,000 $1,200,000 Reproductive 10 $1,371,835 $1,504,747 $380,000 $653,806 Western performance 7 $346,143 $348,804 $150,000 $240,000 General equine 132 $911,251 $1,051,406 $247,500 $503,000

Equine Sectors Obs. 3rd Quartile Min. Max.

English performance 37 $916,000 $197 $5,200,000 Equine companion 8 $858,153 $95,976 $1,927,424 Racing - STB 5 $500,000 $15,000 $1,200,000 Racing - TB 9 $1,800,000 $250 $4,730,000 Reproductive 10 $2,000,000 $127,989 $4,043,000 Western performance 7 $360,000 $35,000 $1,100,000 General equine 132 $1,100,000 $80 $5,300,000

70 Ranch or working and gaited breeds were omitted because the number of observations did not permit estimation. There were no Quarter Horse racing observations.

Page 535 of 577



Business Model

The average practice gross revenue of production for the respondents working in the three

types of specialty/referral hospital business models were more than $1 million. Both

specialty/referral hospitals (limited and full-service) with ambulatory divisions had a median

greater than than $1 million. Of AAEP respondents who owned an ambulatory practice, the

median gross production revenue was $288,113. Respondent owners of an ambulatory with

haul-in facility reported a median of $549,000, and those with haul-in only facility reported a

median of $240,000 (Table 163).

Table 163: Practice Gross Revenue of Production of AAEP Respondents by Business Model 71

Business Model Obs. Mean Std. Dev. 1st Quartile Median

Ambulatory 95 $475,820 $539,349 $127,989 $288,113 Ambulatory with Haul-in facility 74 $874,298 $778,015 $310,779 $549,000 Haul-in facility only 3 $548,250 $613,499 $150,000 $240,000 Specialty/referral hospital-Limited service (e.g., no colic surgery, isolation, neonatology)

6 $1,272,992 $1,520,442 $100,000 $765,000

Specialty/referral hospital-Limited service with ambulatory division

7 $2,259,942 $1,669,125 $1,025,603 $1,800,000


18 $2,535,743 $1,496,352 1000000 $2,507,864

Other 8 $302,150 $ 189,884 $155,351 $337,500

71 Specialty/referral hospital-full service was omitted because the number of observations did not permit estimation.

Page 536 of 577



Business Model Obs. 3rd Quartile Min. Max.

Ambulatory 95 $560,000 $197 $2,585,000 Ambulatory with Haul-in facility 74 $1,425,000 $80 $4,043,000 Haul-in facility only 3 $1,254,749 $150,000 $1,254,749 Specialty/referral hospital-Limited service (e.g., no colic surgery, isolation, neonatology)

6 $2,000,000 $7,949 $4,000,000

Specialty/referral hospital-Limited service with ambulatory division

7 $3,600,000 $140,250 $4,730,000


18 $3,954,000 $453,000 $5,200,000

Other 8 $362,500 $56,500 $650,000

6.7.3 Average Gross Collected Revenue

Owner AAEP respondents were surveyed concerning average gross collected revenue per year

over the past three years (2013-2015). This question featured a categorical variable that was

presented by revenue ranges from ”less than $250,000” to “over $10,000,000.” Due to the low

responses with observations exceeding $4 million in average gross collected revenue, the last

category included in this analysis is “over $4,000,000.” Included in this subsection of the

analysis are graphs that display the distributions of different significant variables.

Practice Type

Respondents indicated the average gross collected revenue per year of their practice over a

three-year period. Nearly 80 percent of respondents in the group of private practices owned by

a sole veterinarian with no support staff indicated that they collected gross revenue of less than

$250,000 while 40 percent of respondents in a private practice owned by a sole veterinarian

with support staff reported between $250,001 and $500,000. Of respondents in private

Page 537 of 577



practice owned by partners/multiple shareholders (which includes four respondents in a private

corporate practice), more than one-quarter (26.6 percent) reported collected practice revenue

between $1 million to $2 million (Figure 177).

Figure 177: Distribution of AAEP Respondent Owners’ Average Gross Collected Revenue Earned per Year for Their Practice (over the last three years) by Practice Ownership Type

Practice Size (FTE Veterinarians)

Nearly 50 percent of AAEP respondents in a one-veterinarian practice reported average gross

collected practice revenue per year of less than $250,000. As practice size increased, a higher

percentage of respondents reported increased collected revenues. Of AAEP respondents in a

practice of six or more veterinarians, 31.6 percent reported more than $4 million in average

collected practice revenue over the past three years (Figure 178).

0.0%20.0%40.0%60.0%80.0%

100.0%

% o

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Average Gross Collected Revenue per Year (from 2013-2015)

Distribution of AAEP Respondent Owners’ Average Gross Collected Revenue Earned per Year for Their Practice (over the last three years)

by Practice Ownership TypePrivate Practice owned by asingle veterinarian, no staff(n=69)

Private Practice owned by asingle veterinarian (n=147)

Private Practice (or PrivateCorporate Practice) owned bypartners/multiple shareholders(n=79)

Page 538 of 577



Figure 178: Distribution of AAEP Respondent Owners’ Average Gross Collected Revenue Earned per Year for Their Practice (over the last three years) by Number of FTE Veterinarians in a Practice

One(n=173)

Two(n=31)

Three(n=24)

Four(n = 16)

Five(n=13)

Six ormore

(n=38)Over $4,000,000 0.0% 0.0% 0.0% 0.0% 0.0% 31.6%$3,000,001-$4,000,000 0.0% 0.0% 0.0% 18.8% 0.0% 13.2%$2,000,001-$3,000,000 0.0% 0.0% 4.2% 6.3% 53.8% 26.3%$1,000,001-$2,000,000 4.8% 9.7% 33.3% 50.0% 30.8% 18.4%750,001-$1,000,000 4.2% 19.4% 29.2% 0.0% 0.0% 7.9%$500,001-$750,000 8.3% 22.6% 16.7% 12.5% 0.0% 2.6%$250,001-$500,000 35.1% 35.5% 12.5% 12.5% 0.0% 0.0%Less than $250,000 47.6% 12.9% 4.2% 0.0% 15.4% 0.0%

0%

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20%

30%

40%

50%

60%

70%

80%

90%

100%

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# of FTE Veterinarians at Practice

Distribution of AAEP Respondent Owners’ Average Gross Collected Revenue Earned per Year for Their Practice (over the last three years), by

Number of FTE Veterinarians

Over $4,000,000

$3,000,001-$4,000,000

$2,000,001-$3,000,000

$1,000,001-$2,000,000

750,001-$1,000,000

$500,001-$750,000

$250,001-$500,000

Less than $250,000

Page 539 of 577



Equine Sector

Analyzing the average three-year gross collected revenue of a practice per year by equine

sector shows more than 50 percent of AAEP respondents reported average practice revenue of

under $1 million. 6.7 percent of the respondents in the Thoroughbred racing sector, 8.7 percent

in the English performance sector, 13.3 percent in the reproductive sector, and 2.7 percent in

general equine, reported more than $4 million in practice revenue (Figure 179).

Figure 179: Distribution of AAEP Respondent Owners’ Average Gross Collected Revenue Earned per Year for Their Practice (over the last three years) by Equine Sector72

72 Gaited breeds and Quarter Horse racing were omitted because the number of observations did not permit estimation.

% o

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in E

quin

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ctor

Average Gross Collected Revenue per Year (2013-2015)

Distribution of AAEP Respondent Owners' Average Gross Collected Revenue Earned per Year for Their Practice (over the last three years) by

Equine Sector

Over $4,000,000

$3,000,001-$4,000,000

$2,000,001-$3,000,000

$1,000,001- $2,000,000

750,001-$1,000,000

$500,001- $750,000

$250,001-$500,000

Less than $250,000

Page 540 of 577



Business Model

A review of responses relative to business model finds 90.8 percent of the AAEP respondents in

an ambulatory practice, 71.6 percent of respondents in an ambulatory with haul-in facility, and

92.3 percent of respondents in the “Other” category of practice with reported practice revenue

of less than $1 million. Two out of the three respondents practicing in a solely haul-in facility

reported practice revenue of less than $250,000. Respondents whose practices collected more

than $4 million in revenue were in a full-service specialty/referral hospital (40 percent), or a

full-service specialty/referral hospital with an ambulatory division (38.5 percent) (Figure 180).

Page 541 of 577



Figure 180: Distribution of AAEP Respondent Owners’ Average Gross Collected Revenue Earned per Year for Their Practice (over the last three years) by Business Model

0%

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Primary Business Model

Distribution of AAEP Respondent Owners’ Average Gross Collected Revenue Earned per Year for Their Practice (over the last three years) by

Business Model

Over $4,000,000

$3,000,001-$4,000,000

$2,000,001-$3,000,000

$1,000,001-$2,000,000

750,001-$1,000,000

$500,001-$750,000

$250,001-$500,000

Less than $250,000

Page 542 of 577



6.7.4 Revenue and Income Contraction and Expansion of Equine Practices

AAEP respondents who were practice owners were asked specifically about whether their

practices’ gross revenue production expanded (increased) or contracted (decreased) in 2015

compared to 2014. This was also examined by the type of equine sector in which the

respondents worked.

Practice Gross Revenue

Overall, 64.1 percent of owner respondents reported an expansion in practice gross revenue

from 2015 compared to 2014; 13.1 percent reported a contraction, 16.6 percent of

respondents stayed the same, and 6.3 percent were unsure.

Observing contraction and expansion among equine sectors from 2014 to 2015 finds that 80

percent of Standardbred racing respondents saw no change in their practice gross revenue for

2015 compared to 2014. More than 50 percent of respondents in the English performance,

equine companion, Thoroughbred racing, reproductive, ranch or working, Western

performance, and general equine sectors reported an increase in gross revenue. AAEP

respondents who reported a decrease in revenue represented English performance (16.3

percent percent), equine companion (13.3 percent), Thoroughbred racing (5.9 percent),

reproductive (12.5 percent), ranch or working (20.0 percent), Western performance (11.1

percent), and general equine sectors (13.7 percent) (Figure 181). The majority of AAEP

respondents reported that their practices’ gross revenue expanded or stayed the same when

comparing 2015 to 2014.

Page 543 of 577



Figure 181: Distribution of AAEP Respondents’ Practice Gross Revenue Change in 2015 Compared to 201473

The reported average decrease and increase in practice revenues ranged from 7 percent to 10

percent. The percent of contraction and expansion of practice gross revenue by equine sector is

presented in Figure 182 and Figure 183.

Contraction: The decrease in practice revenue varied among respondents in the English

performance and general equine sectors, with 37.5 percent of English performance and 29.6

percent of general equine respondents reporting a 7 percent to 10 percent contraction. There

were not enough observations among the other equine sectors to permit estimation (Figure

182).

73 Quarter Horse racing and gaited breeds were omitted because the number of observations did not permit estimation.

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Distribution of AAEP Respondents' Practice Gross Revenue Change in 2015 Compared to 2014

Increased Decreased Stayed the same Not sure

Page 544 of 577



Expansion: The percent of expansion among equine sectors varied. Half of the respondents in

the Western performance sector reported more than a 15 percent increase in practice revenue.

More than 40 percent of owner respondents in English performance, equine companion,

Thoroughbred racing, reproductive, and Western performance reported a more than 11

percent increase in gross practice revenue (Figure 183).

Figure 182: Distribution of AAEP Respondents’ Practice Gross Revenue Contraction from 2014-201574

74 Gaited breeds, Quarter Horse racing, Thoroughbred racing, equine companion, reproductive, ranch or working, gaited breeds, and Western performance were omitted because the number of observations did not permit estimation.

12.5% 7.4%

25.0% 25.9%

37.5%29.6%

12.5%14.8%

12.5% 22.2%

English performance(n=8)


% o

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Distribution of AAEP Respondents' Practice Gross Revenue Contraction from 2014-2015

More than 15%

11-15%

7-10%

4-6%

1-3%

% Contraction

Page 545 of 577



Figure 183: Distribution AAEP Respondents’ Practice Gross Revenue Expansion from 2014-201575

75 Quarter Horse racing, Standardbred racing and gaited breeds were omitted because the number of observations did not permit estimation.

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Distribution of AAEP Respondents' Practice Gross Revenue Expansion from 2014-2015

More than 15%

11-15%

7-10%

4-6%

1-3%

% Expansion

Page 546 of 577



Net Income (the “Bottom Line”)

Net income is a practice’s total revenue minus all the expenses of the business, including both

fixed and variable costs. The majority of Standardbred racing respondents saw no change in

their net income for 2015 compared to 2014 (60 percent). More than 50 percent of

respondents in the English performance, equine companion, Thoroughbred racing,

reproductive, Western performance, and general equine sectors reported an increase in their

net income. While 40 percent of respondents in the ranch or working sector were not sure of

their net income change, another 40 percent reported an increase in net income. Those

respondents that reported a decrease of net income included 18.4 percent of English

performance respondents, 13.3 percent of equine companion respondents, 5.9 percent of

Thoroughbred racing, 18.8 percent of reproductive, 11.1 percent of Western performance, and

16.8 percent of the general equine practice sector (Figure 184).

Page 547 of 577



Figure 184: Distribution of AAEP Respondents’ Net Income Change in 2015 Compared to 201476

The average decrease and increase in practice net income reported by respondents ranged

from 7 percent to 10 percent.

The percent contraction and expansion of net income by equine sector is presented in the

following two figures. The few respondents in the equine companion sector reported a

decrease in net income of 4 percent to 6 percent from 2014 to 2015. Greater variation was

seen in the percent decrease in net income by respondents who owned a practice in the English

performance and general equine sectors because of the high representation of these groups

among the responses (Figure 185).

76 Gaited breeds and Quarter Horse racing was omitted because the number of observations did not permit estimation.

0%10%20%30%40%50%60%70%80%90%

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Distribution of AAEP Respondents' Net Income Change in 2015 Compared to 2014

Increased Decreased Stayed the same Not sure

Page 548 of 577



More than one-third (33.3 percent) of respondents with a practice in the English performance

sector, 20 percent of those in the equine companion sector, 22.2 percent of those involved in

Thoroughbred racing, 18.2 percent of those in the reproductive sector, 66.7 percent of those

practicing in the Western performance sector, and 16 percent of respondents in the general

equine practice sector reported more than 15 percent expansion in net income (Figure 186).

Figure 185: Distribution of AAEP Respondents’ Practice Net Income Contraction from 2014-201577

77 Quarter Horse racing, Thoroughbred racing, Standardbred racing, equine companion, gaited breeds, and Western performance were omitted because the number of observations did not permit estimation

0%

20%

40%

60%

80%

100%

English performance(n=9)

Reproductive(n=3)

General equine(n=33)

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Distribution of AAEP Respondents' Practice Net Income Contraction from 2014-2015

1-3% 4-6% 7-10% 11-15% More than 15%

Page 549 of 577



Figure 186: Distribution AAEP Respondents’ Practice Net Income Expansion from 2014-201578

6.7.5 Total Practice Expenses/Deductions for 2015

Practice expenses are the fixed and variable costs incurred in operating a veterinary practice.

Expenses include the cost of pharmaceuticals/supplies, labor expense, administrative costs, and

expenses involving equipment/facilities. Practice expenses range from vehicle maintenance to

shipping materials to insurance, to utility, phone and internet costs. Expenses also include

78 Quarter Horse racing, Standardbred racing, gaited breeds, and ranch or working were omitted because the number of observation did not permit estimation.

0%10%20%30%40%50%60%70%80%90%

100%

Englishperformance

(n=24)

Equinecompanion

(n=10)

Racing-TB(n=9)

Reproductive(n=11)

Westernperformance

(n=6)

Generalequine(n=100)

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Distribution of AAEP Respondents' Practice Net Income Expansion from 2014-2015

1-3% 4-6% 7-10% 11-15% More than 15%

Page 550 of 577



compensation for support staff and associate veterinarians as well as costs of various benefit

and perquisite programs.

Equine practice owners who responded to the survey were asked what their total practice

expenses/deductions were for 2015 as listed on: Tax Form 1040/Schedule C, Line 28 for sole

proprietorship; Partnerships: Tax Form 1065, Line 21; and Corporations: Tax Form 1120, Line

27. Respondents reported expenses between $19,025 and $28.8 million. Outliers removed

were those respondents reporting practice expenses greater than $4 million, with the median

reported in this subsection. The average expense was $572,771.20.

Practice Type

The highest median practice expenses and deductions reported for 2015 among practice types

came from respondents who owned a private practice with partners/multiple shareholders;

their median expenses were $982,245 compared to $344,401 reported by respondents in a

private practice owned by a single veterinarian, and $61,850 for respondents in a private

practice owned by a sole veterinarian with no support staff (Table 164).

Page 551 of 577



Table 164: Median 2015 Practice Expenses/Deductions of AAEP Respondents by Practice Type 79

Type of Practice Obs. Mean Std. Dev. 1st Quartile Median

Solo Practitioner 38 $92,547 $81,006 $40,000 $61,850 Private Practice Owned by a single veterinarian

84 $491,563 $454,693 $185,512 $344,401

Private Practice (or Private Corporation80) Owned by partners/multiple shareholders: One FTE veterinarians 5 $587,041 $638,617 $194,835 $300,000 Two FTE veterinarians 9 $663,179 $532,937 $280,000 $551,212 Three FTE veterinarians 3 $920,500 $685,389 $214,220 $964,390 Four FTE veterinarians 4 $1,621,788 $940,195 $918,575 $1,374,000 Five FTE veterinarians 12 $2,125,305 $1,184,946 $1,291,904 $1,849,000

Type of Practice Obs. 3rd Quartile Min. Max.

Solo Practitioner 38 $122,711 $21,000 $427,000 Private Practice Owned by a single veterinarian 84 $701,728 $19,025 $2,250,000 Private Practice (or Private Corporation) Owned by partners/multiple shareholders: One FTE veterinarians 5 $816,000 $24,368 $1,600,000 Two FTE veterinarians 9 $690,344 $100,000 $1,598,000 Three FTE veterinarians 3 $1,582,889 $214,220 $1,582,889 Four FTE veterinarians 4 $2,325,000 $839,150 $2,900,000 Five FTE veterinarians 12 $3,020,603 $272,696 $4,000,000

79 Five FTE veterinarians was omitted because the number of observations did not permit estimation.

80The few respondents who reported being in a private corporate practice with multiple veterinarians were reported with the respondents in a private practice with multiple partners/shareholders.

Page 552 of 577



Practice Size (per Veterinarian)

The survey responses indicated that, in general, the more veterinarians in a practice, the lower

the practice expenses and deductions per veterinarian (at the median). Sole practitioners

reported a median of $79,445 in practice expenses and deductions; a veterinarian in a practice

of one FTE veterinarian with support staff reported a median of $250,000 in expenses and

deductions. The median expenses/deductions decreased per veterinarian the more

veterinarians in a practice until reaching that of a five FTE veterinarian practice, which reflected

a median of $257,136. However, median expenses/deductions reported by the 16 respondents

working in veterinarian practices with six or more FTE decreased to that seen in a three FTE

veterinarian practice (Table 165).

Table 165: Mean 2015 Practice Expenses/Deductions of AAEP Respondents by Number of FTE Veterinarians in a Practice

Number of FTE Veterinarians Obs. Mean Std. Dev. 1st Quartile Median

Sole Practitioner 39 $109,645 $86,155 $52,000 $79,445 One FTE veterinarian 47 $333,661 $250,547 $159,297 $250,000 Two FTE veterinarians 24 $265,608 $166,051 $157,227 $237,694 Three FTE veterinarians 13 $224,688 $120,923 $133,333 $233,333 Four FTE veterinarians 10 $283,503 $210,466 $146,375 $217,989 Five FTE veterinarians 5 $297,724 $130,286 $200,000 $257,136 Six or more FTE veterinarians 16 $224,999 $115,846 $163,615 $233,880

Number of FTE Veterinarians Obs. 3rd Quartile Min. Max.

Sole Practitioner 39 $150,000 $21,000 $427,000 One FTE veterinarian 47 $500,222 $19,025 $1,066,667 Two FTE veterinarians 24 $325,086 $34,327 $735,496 Three FTE veterinarians 13 $275,948 $71,407 $527,630 Four FTE veterinarians 10 $437,500 $56,250 $725,000 Five FTE veterinarians 5 $420,000 $161,485 $450,000 Six or more FTE veterinarians 16 $291,673 $30,300 $500,000

Page 553 of 577




Although the differences in expenses reported by respondents across equine sectors were not

significant, the numbers are reported here for general information. Respondents who owned a

practice in the reproductive sector had the greatest median expenses and deductions

($339,895). At the low end of the spectrum, the few respondents in the Standardbred racing

sector had the smallest median expense for their practice at $77,000. Western performance

had a median of $80,000. The English performance sector had a median that exceeded

$200,000, and a median of more than $300,000 was observed in the equine companion and

general equine medicine subsectors (Table 166).

Table 166: Mean 2015 Practice Expenses/Deductions of AAEP Respondents by Primary Equine Sector81

Equine Sectors Obs. Mean Std. Dev. 1st Quartile Median

English performance 23 $389,099 $494,683 $122,000 $215,000 Equine companion 6 $568,481 $719,269 $57,638 $309,520 Racing - STB 3 $138,333 $141,359 $38,000 $77,000 Racing - TB 7 $711,841 $824,471 $100,000 $200,000 Reproductive 9 $1,264,867 $1,616,582 $251,623 $339,895 Western performance 3 $110,000 $70,000 $60,000 $80,000 General equine 101 $550,641 $644,848 $100,000 $330,000

Equine Sectors Obs. 3rd Quartile Min. Max.

English performance 23 $586,000 $21,000 $2,250,000 Equine companion 6 $775,000 $57,390 $1,901,821 Racing - STB 3 $300,000 $38,000 $300,000 Racing - TB 7 $1,582,889 $100,000 $2,100,000 Reproductive 9 $1,600,000 $27,000 $4,000,000 Western performance 3 $190,000 $60,000 $190,000 General equine 101 $724,742 $19,025 $3,441,878

81 Ranch/or working, Quarter Horse racing, and gaited breeds were omitted because the number of observations did not permit estimation.

Page 554 of 577



Business Model

Observation of practice expenses by business model revealed that respondents in

specialty/referral hospitals with limited services and full service hospitals with ambulatory

divisions had median expenses and deductions of $837,698 and $2,000,000, respectively.

Respondents owning some other type of practice carried the smallest median expenses of

$112,500. Median expenses among respondents from the ambulatory business model were

$181,898, and median expenses from respondents in an ambulatory with haul-in facility wereas

$427,000 (Table 167).

Table 167: Mean 2015 Practice Expenses/Deductions of AAEP Respondents by Business Model 82

Business Models Obs. Mean Std. Dev. 1st Quartile Median

Ambulatory 73 $327,436 $428,621 $68,654 $181,898 Ambulatory with Haul-in facility 57 $654,587 $671,493 $225,000 $427,000 Specialty/referral hospital-Limited service with ambulatory division

4 $1,152,035 $1,225,663 $424,372 $837,698


10 $2,034,252 $1,091,136 $989,489 $2,000,000

Other 8 $148,849 $100,620 $ 78,647 $112,500

Business Models Obs. 3rd Quartile Min. Max.

Ambulatory 73 $404,571 $21,000 $2,250,000 Ambulatory with Haul-in facility 57 $888,167 $36,000 $3,961,153 Specialty/referral hospital-Limited service with ambulatory division

4 $1,879,698 $32,744 $2,900,000


10 $2,599,328 $700,000 $4,000,000

Other 8 $ 240,000 $28,500 $300,000

82 Haul-in facility only, l imited service specialty/referral hospital, and full-service specialty/referral hospital were omitted because the number of observations did not permit estimation.

Page 555 of 577



6.7.6 Current Ratio

Equine practice owners who responded to the survey were asked what their total assets and

liabilities were as recorded on their 2015 balance sheet. If respondents had multiple owners at

their practice, the respondents indicated their share of total assets and total liabilities.

Respondents reported their total assets as low as $50 and as high as $31 million. Respondents

reported their total liabilities as low as $50 and as high as $9.5 million. Those who reported

total assets greater than $4.5 million and total liabilities greater than $1.3 million were

considered outliers and removed from the sample.

The overall mean total assets of respondents were $522,388. The average total liabilities of a

respondent in a practice was $139,964.20

The current ratio (current assets to current liabilities) is a measure of the practice’s ability to

meet short-term obligations. The median current ratio of owner respondent’s equine practices

is 5.74, with a range of less than .01 to 61.6. This means that the median veterinary practice

has $5.67 of current assets for each $1 of current liabilities. Acceptable minimal current

ratios vary from industry to industry and are generally between 1.5 and 3

for healthy businesses.83

Practice Type

Calculations of the current ratio for owner respondents could only be calculated for those

respondents in private practice. Respondents in a private corporate practice reported not

having access to the asset and liability information. Respondents who were solo practitioners

reported a median current ratio of 2.02, respondents in a single owner private practice with

83 https://www.adelaide.edu.au/vetsci/vibe/student-resources/learning-guides/key-performance-indicators/kpis-uoa-olt-9apr2014.pdf

Page 556 of 577



support staff reported a median current ratio of 3.41, and those in a private practice owned by

partners/multiple shareholders reported a median of 1.42. That is, for every $1 of liabilities,

solo practitioners had $2.02 of assets and single owner veterinarians with support staff had

$3.41 of assets. For every $1 of liabilities, owners in a multiple owner practice had $1.42 of

assets (Table 168).

Table 168: Mean Current Ratio of AAEP Respondents by Practice Type

Variable Obs. Mean Std. Dev.

1st Quartile

Median 3rd Quartile

Min. Max.

Solo Practitioner 11 3.60 4.26 1.05 2.02 5.15 0.35 15.00 Private Practice Owned by a single veterinarian

39 8.18 12.84 1.09 3.41 9.83 0.80 61.57

Private Practice Owned by partners/multiple shareholders84

23 2.60 3.08 1.00 1.42 3.16 0.01 15.00

Number of Full-Time Equivalent (FTE) Veterinarians in a Practice

Among respondents in the survey, the current ratio with respect to number of FTE veterinarians

in a practice showed a fluctuation in the medians depending on the number of veterinarians in

the practice. Respondents who reported being solo practitioners reported a median of $1.71 of

assets for every $1 in liabilities, slightly higher than respondents at practices with six or more

FTE veterinarians, who reported their median current ratio in a practice as having $1.17 in

assets for $1 in liabilities, on average. Respondents in a one-FTE veterinarian practice with

support staff reported a median current ratio of 3.41, followed by 2.53 in a practice with two

84 The few respondents who reported being in a private corporate practice with multiple veterinarians were reported with the respondents in a private practice with multiple partners/shareholders.

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FTE veterinarians, 2.36 in a three-FTE veterinarian practice, 18.9 in a four-FTE veterinarian

practice, and 3.33 in a five-FTE veterinarian practice (Table 169).

Table 169: Mean Current Ratio of AAEP Respondents by Number of FTE Veterinarians in a Practice

FTE Veterinarian Obs. Mean Std. Dev.

1st Quartile

Median 3rd Quartile

Min. Max.

Solo Practitioner 12 3.39 4.13 1.03 1.71 4.41 0.35 15.00 One veterinarian 17 4.45 4.74 1.00 3.41 5.00 0.80 19.81 Two veterinarians 15 9.76 18.97 1.00 2.53 4.71 0.01 61.57 Three veterinarians 7 6.46 6.63 1.09 2.36 15.00 0.70 15.02 Four veterinarians 5 13.23 10.46 3.04 18.90 19.23 1.00 24.00 Five veterinarians 7 4.16 3.40 1.00 3.33 6.13 1.00 10.00 Six or more veterinarians

11 1.95 1.36 1.00 1.17 3.16 0.76 4.40


Although current ratios across equine sectors were not significant, the mean current ratios of

the practices in different equine sectors are presented for general interest in Table 170. AAEP

respondents in the Thoroughbred racing industry reported the highest median current ratio of

12.50, with the lowest reported in the General equine sector with 1.56, although the lowest

current ratio average (mean) was in the English performance sector (3.9). The median current

ratio of respondents in the English performance, reproductive, and Western sectors range from

$3.16 to $5 in assets for every $1 of liabilities.

Page 558 of 577



Table 170: Mean Current Ratio of AAEP Respondents by Primary Equine Sector85

Equine Sector Obs. Mean Std. Dev.

1st Quartile

Median 3rd Quartile

Min. Max.

English performance

13 3.90 4.99 1.05 3.16 3.67 0.80 19.81

Racing - TB 4 18.93 21.55 5.35 12.50 32.50 0.70 50.00 Reproductive 3 6.91 7.27 1.00 4.71 15.02 1.00 15.02 Western performance

3 5.32 1.22 4.29 5.00 6.67 4.29 6.67

General equine 47 4.72 9.53 1.00 1.56 4.40 0.01 61.57

Business Model

AAEP respondents owning a limited-service specialty/referral hospital with ambulatory division

had the highest median current ratio of 3.71; in other words, for every $1 of liabilities, they had

$3.71 of assets. The lowest median current ratio among respondents occurred in the full-

service specialty/referral hospital with ambulatory division with a mean current ratio of 1.17

(Table 171).

85 Gaited breeds, equine companion, Quarter Horse racing, Standardbred racing, and ranch or working were omitted because the number of observations did not permit estimation.

Page 559 of 577



Table 171: Mean Current Ratio of AAEP Respondents by Business Model 86

Business Model Obs. Mean Std. Dev.

1st Quartile

Median 3rd Quartile

Min. Max.

Ambulatory 32 3.91 5.16 0.76 1.53 3.88 0.01 19.81 Ambulatory with Haul-in facility

28 6.71 12.04 1.00 3.04 5.72 0.35 61.57

Specialty/referral hospital -Limited service with ambulatory division

3 6.57 7.43 1.00 3.71 15.00 1.00 15

Specialty/referral hospital -Full service with ambulatory division

7 2.69 3.31 1.00 1.17 3.16 1.00 10

6.7.7 Profit Centers/Activity Centers

Multiple different activities in equine practice are revenue generators for veterinarians, and

include, but are not limited to, dentistry, reproduction, lameness exams, pharmacy, preventive

medicine, integrative therapy, imaging, laboratory tests, surgery, internal medicine, physical

exams, farm calls, and pre-purchase exams. This subsection explores the revenues generated by

AAEP respondents in certain revenue categories.

AAEP respondents were asked what percent of revenue they received from several types of

services that may be offered by their practice. The largest revenue source for AAEP

respondents (14.8 percent) was reported to be preventative medicine, and the smallest (2.9

percent) was pre-purchase exams (Figure 187).

86 Haul-in facility only, l imited service specialty/referral hospital, and full-service specialty/referral hospital and other type of business model were omitted because the number of observations did not permit estimation.

Page 560 of 577



Figure 187: Equine Practice Profit Centers (Largest to Smallest)

AAEP respondents indicated the percent of revenue received from each of the multiple activity

centers in their practice. The highest mean percent of revenue produced by respondents was

14.8 percent for preventative medicine services, followed by 11.2 percent for pharmacy

services. The smallest sources of revenue reported were surgery (4.2 percent) and pre-purchase

exams (2.9 percent) (Table 172).

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Table 172: Mean Percent Revenue Received from Services Performed by AAEP Respondents

Obs. Mean Std. Dev.

1st Quartile

Median 3rd Quartile

Min. Max.

Preventative Medicine 83 14.8% 9.9% 8% 14% 20% 0% 40% Pharmacy 83 11.2% 8.5% 5% 10% 15% 0% 42% Lameness examinations 83 10.5% 7.3% 5% 10% 15% 0% 35% Imaging 83 9.9% 12.6% 5% 9% 10% 0% 100% Physical examinations 83 9.0% 5.5% 5% 8% 10% 0% 30% Dentistry 83 8.4% 8.6% 3% 7% 10% 0% 60% Laboratory testing 83 7.0% 3.6% 5% 5% 10% 0% 20% Farm Call 83 6.8% 4.3% 3% 5% 10% 0% 19% Internal Medicine 83 5.9% 5.2% 2% 5% 9% 0% 31% Reproductive examinations

83 5.1% 9.4% 0% 2% 5% 0% 50%

Integrative therapies (e.g. acupuncture, chiropractic)

83 4.4% 13.8% 0% 0% 2% 0% 95%

Surgery 83 4.2% 4.7% 1% 3% 5% 0% 25% Pre-purchase exams 83 2.9% 2.3% 1% 3% 4% 0% 10%

When considering the primary equine subsectors in which AAEP respondents practice,

respondents in English performance had the highest mean across sectors in percent revenue in

pharmacy (14.8 percent), imaging (12.2 percent), and pre-purchase exams (3.7 percent).

Respondents in the Thoroughbred racing sectors reported the highest mean percent of revenue

compared to other sectors from internal medicine (12.7 percent), surgery (6.5 percent) and

integrative therapies (17 percent).

The ranch or working respondents’ highest mean percent of revenue was generated by services

in preventative medicine (17.5 percent), dentistry (11.3 percent), lameness examinations (18.8

percent), and physical examinations (10 percent). General equine respondents had the highest

mean in laboratory testing (7.4 percent), reproductive examinations (5.1 percent), and farm

calls (7.3 percent) (Table 173).

Page 562 of 577



Table 173: Mean Percent Revenue Received from Services Performed by AAEP Respondents by Primary Equine Sector87

Preventative Medicine Dentistry Pharmacy

Mean Std. Dev.

Min/ Max

Mean Std. Dev.

Min/ Max

Mean Std. Dev.

Min/ Max


12.4 7.4 1/25 7.9 7.4 0/25 14.8 6.9 5/31

Racing-TB (n=6) 7.3 4.3 0/10 0.0 - - 11.5 8.0 2/22 Ranch or working (n=4) 17.5 10.4 5/30 11.3 2.5 10/15 7.5 5.0 5/15 General equine (n=52) 16.2 10.5 0/40 9.4 9.5 0/60 10.7 9.4 0/42

Laboratory testing

Lameness examinations Physical examinations

Mean Std. Dev.

Min/ Max

Mean Std. Dev.

Min/ Max

Mean Std. Dev.

Min/ Max


7.0 2.7 4/12 12.8 8.4 1/25 7.0 4.2 2/20

Racing-TB (n=6) 4.8 4.3 0/10 14.5 11.9 0/35 9.0 8.6 0/25 Ranch or working (n=4)

3.8 1.5 2/5 18.8 10.3 10/30 10.0 4.1 5/15

General equine (n=52) 7.4 3.6 0/20 9.5 5.5 0/25 9.1 5.1 0/25

87 There were no respondents in Quarter Horse racing sector, gaited breeds, reproductive, equine companion, Western performance, and Standardbred racing.

Page 563 of 577



Imaging Reproductive examinations

Surgery

Mean Std. Dev.

Min/ Max

Mean Std. Dev.

Min/ Max

Mean Std. Dev.

Min/ Max


12.2 6.9 2/22 1.8 2.0 0/5 2.3 1.8 0/5

Racing - TB (n=6) 11.0 10.1 0/30 2.5 6.1 0/15 6.5 6.9 0/20 Ranch or working (n=4)

6.5 2.4 5/10 2.8 2.1 0/5 6.3 2.5 5/10

General equine (n=52) 10.3 14.8 0/100 5.1 8.2 0/47 4.3 5.2 0/25

Internal Medicine Pre-purchase exams

Mean Std. Dev.

Min/ Max

Mean Std. Dev.

Min/ Max

English performance (n=15) 4.3 3.4 0/13 3.7 2.4 0/8 Racing - TB (n=6) 12.7 11.6 0/31 2.2 2.5 0/5 Ranch or working (n=4) 7.5 2.9 5/10 1.6 1.4 0/3 General equine (n=52) 5.4 4.3 0/15 2.9 2.3 0/10

Farm Call Integrative therapies88

Mean Std. Dev.

Min/ Max

Mean Std. Dev.

Min/ Max

English performance (n=15) 7.1 4.1 2/15 6.8 16.0 0/60 Racing - TB (n=6) 1.0 1.3 0/3 17.0 38.3 0/95 Ranch or working (n=4) 3.6 1.6 2/5 3.0 4.8 0/10 General equine (n=52) 7.3 3.9 0/17 2.3 7.3 0/50

Only three types of business models had enough respondents to estimate the mean percentage

of revenue collected from equine services. Respondents in an ambulatory with haul-in facility

reported higher mean percentages compared to the other business models in preventative

medicine (17.3 percent), dentistry (11 percent), lameness (10.5 percent) and physical

examinations (9.7 percent). Respondents in ambulatory practice had higher mean percentages

88 Integrative therapies refers to acupuncture, chiropractic, etc.

Page 564 of 577



in pharmacy (12.7 percent), laboratory testing (7.4 percent), farm calls (7.9 percent), and

integrative therapies (8.8 percent). Respondents in a full-service specialty/referral hospital with

ambulatory division had a higher mean percent of revenue from services in imaging (14.9

percent), reproductive examinations (8.2 percent), surgery (6.5 percent), internal medicine (7.5

percent), and pre-purchase exams (3.2 percent) compared to the other two business models

(Table 174)

Table 174: Mean Percent Revenue Received from Services Performed by AAEP Respondents by Business Model 89

Preventative Medicine Dentistry Pharmacy

Mean Std. Dev.

Min/ Max

Mean Std. Dev.

Min/ Max

Mean Std. Dev.

Min/ Max

Ambulatory (n=31) 15.5 10.5 0/40 6.8 6.4 0/23 12.7 8.8 2/42 Ambulatory with Haul-in facility (n=32)

17.3 9.9 1/40 11.0 11.0 0/60 9.5 7.3 2/34

Specialty/referral hospital Full service with ambulatory division (n=17)

9.8 7.3 0/25 6.6 6.6 0/25 12.0 10.5 0/40

Laboratory testing Lameness examinations Physical examinations

Mean Std. Dev.

Min/ Max

Mean Std. Dev.

Min/ Max

Mean Std. Dev.

Min/ Max

Ambulatory (n=31) 7.4 3.8 0/20 10.3 8.1 0/35 8.5 6.1 0/25 Ambulatory with Haul-in facil ity (n=32)

7.0 3.1 2.5/18 10.5 6.3 1/25 9.7 5.4 5/30


6.4 4.3 0/15 9.5 6.9 0/20 8.6 5.4 0/25

89 There were no respondents in l imited service specialty/referral hospital with ambulatory division, full-service specialty/referral hospital with ambulatory division, or other type of business model. Respondents in full- and l imited-service specialty/referral hospital were removed due to only one observation in each group.

Page 565 of 577



Imaging Reproductive examinations

Surgery

Mean Std. Dev.

Min/ Max

Mean Std. Dev.

Min/ Max

Mean Std. Dev.

Min/ Max

Ambulatory (n=31) 8.9 9.4 0/50 3.3 8.7 0/47 2.1 1.8 0/5 Ambulatory with Haul-in facil ity (n=32)

8.5 6.8 0/30 5.4 8.4 0/40 4.4 4.4 0/22


14.9 22.8 0/100 8.2 12.3 0/50 6.5 6.3 0/25

Farm Call Integrative therapies

Mean Std. Dev.

Min./ Max.

Mean Std. Dev.

Min/ Max

Ambulatory (n=31)

7.9 4.4 0/19 8.8 21.5 0/95

Ambulatory with Haul-in facility (n=32)

6.5 4.1 0/15 2.1 5.1 0/25


5.7 3.9 0/15 1.1 1.4 0/5

Page 566 of 577



SECTION 7: ECONOMY-WIDE IMPACTS OF EQUINE PRACTICES

7.1 IMPLAN SOFTWARE AND INPUT/OUTPUT ANALYSIS

IMPLAN software is an economic tool developed by the Minnesota IMPLAN Group in 1993, and

has since become the most widely used tools for economic analysis. The IMPLAN system

combines data from different sources including the U.S. Department of Commerce, the U.S.

Bureau of Labor Statistics, and other Federal and state government agencies to compute

multipliers that are used to estimate the impacts of exogenous factors on the local economy.

Data in IMPLAN are collected for every geographic region in the United States, from small cities

to the entire nation. The IMPLAN application also facilitates regional analyses where multiple

counties or states are grouped into one entity. The economic impact analysis captures the

economic implications of a new or existing activity, policy or project. The entry of a new

veterinary practice in a community, for example, sparks change in the local economy:

Construction of a veterinary facility requires the participation of a variety of skilled construction

workers, and the staff needed to operate the facility will spend part of their income in local

markets.

The IMPLAN system estimates the multiplier effects of changes in final demand for one sector

on all other industries within a local area and provides the results in terms of total changes in

employment, income, output and value added.

In an economic impact analysis, three different results are presented: direct effects, indirect

effects and induced effects. Putting the results in the context of an equine veterinary practice,

the direct effect refers to the impacts created directly by the practice’s activity. For example,

consider a new equine veterinary practice that opens in Upperville, Va., employs six workers

and records sales of $700,000. The direct impact of this practice on Upperville’s economy is

Page 567 of 577



$700,000, indicating that the total gross output of all businesses in the community has

increased by $700,000. In terms of impact on employment, the direct effect of the equine

veterinary facility on local employment will be the creation of six new jobs.

The indirect effect refers to those effects generated by the producers of intermediate goods

and services purchased by the practice. Suppose that Upperville already has one equine

veterinary practice that purchases medical supplies from a local medical supplies manufacturer.

The entry of the new practice increases the demand for medical supplies and requires the local

manufacturer to increase its production in order to meet the new demand of the new

veterinary practice. An increase in the number of employees at the medical supplies

manufacturer due to the increased demand is recorded as an indirect effect of the new equine

veterinary practice. In the same way, the increase in the total gross output will be recorded as

the indirect effect of the new equine veterinary practice on gross output. Other industries

affected by the new veterinary practice and part of the indirect effect may include utilities,

construction, landscaping, delivery services and other businesses that provide services to the

new practice.

Induced effect refers to the subsequent spending in the local economy made by the employees

of the new equine veterinary practice and those of the intermediate input suppliers.

Page 568 of 577



7.2 RESULTS AND DISCUSSION

An economic impact analysis was performed for each of the 10 regions in the United States.

Using the national average number of veterinarians from the AVMA membership database and

the percentage of equine veterinarians in the United States reported in the 2017 AVMA Report

on The Market for Veterinarians, an approximate number of equine veterinarians and

employees 90 was established. By taking the mean practice revenue of each region91 and

multiplying it by the number of practices in each region92, the total regional and national

industry output was calculated. Due to an inadequate amount of purchasing or expenditure

data for each of these regions, the expenditure pattern was considered to be the same for

each. That is, it was assumed that the production of a veterinary service by any of these regions

required the same set of inputs. The average output per region and the mean number of

employees was used to determine the economic impact of the entry of one additional practice

in the study area. Once the impact per practice was determined, the impact for the entire

industry was aggregated by multiplying the impact of an individual practice by the total number

of establishments in the area.

7.2.1 Economic Effect of Equine Veterinary Medicine on Employment

The employment effects indicated that at the national level the equine veterinary industry

generates an estimated 18,658 direct jobs, supports 5,497 indirect jobs, and induces 8,925

other jobs for an estimated total of 33,080 jobs for the entire economy (Table 175).

90 Using the IMPLAN 2013 (sector 459) data, a 4:1 ratio was established (four employees for every one veterinarian) 91 Source: 2016 AVMA-AAEP Survey of Equine Practitioners 92 Number derived from IMPLAN 2013 (sector 459) data and 2016 AVMA-AAEP Survey of Equine Practitioners data.

Page 569 of 577



Table 175: Economic Impacts of Equine Veterinary Practice on Employment

U.S. Region Direct Effect Indirect Effect Induced Effect Total Effect

Region 0 1,462.8 394.0 748.4 2,605.2 Region 1 1,570.0 460.3 788.7 2,819.0 Region 2 1,977.2 179.4 478.2 2,634.8 Region 3 2,701.0 1,158.4 1,063.8 4,923.2 Region 4 1,915.2 1,120.6 1,567.6 4,603.4 Region 5 1,179.0 282.0 597.7 2,058.7 Region 6 1,354.2 14.8 292.8 1,661.8 Region 7 2,127.5 1,033.5 1,367.4 4,528.4 Region 8 1,416.1 555.6 853.7 2,825.4 Region 9 2,954.9 298.2 1,167.0 4,420.1

Page 570 of 577



7.2.2 Economic Effect of Equine Veterinary Medicine on Labor Income

The total direct economic impact on employee compensation and proprietor income at a

national level was estimated at $1,142,584,231. This value corresponds to the total dollar

amount invested by equine veterinary practice owners into the national economy as payroll

expenditures and owner’s share. The total indirect effects were estimated at $300,947,279 and

represent the total additional investment in labor income of all other necessary industries that

have had to vary their production as a result of the existence of the veterinary industry. The

induced effects at the national level were equivalent to $431,782,923. The aggregated effects

were estimated at $1,875,314,433 for the U.S. economy (Table 176).

Table 176: Economic Impacts of Equine Veterinary Practice on Labor Income


Region 0 $107,135,531 $26,873,590 $42,275,111 $176,284,232 Region 1 $121,572,871 $32,043,109 $44,563,256 $198,179,235 Region 2 $69,478,706 $9,782,085 $22,174,001 $101,434,792 Region 3 $93,032,841 $56,721,817 $47,939,615 $197,694,273 Region 4 $172,980,432 $57,842,377 $69,183,989 $300,006,797 Region 5 $78,533,853 $14,659,019 $26,645,570 $119,838,442 Region 6 $45,267,474 $882,528 $14,172,059 $60,322,061 Region 7 $167,835,924 $55,330,748 $63,981,063 $287,147,734 Region 8 $103,976,992 $27,749,094 $38,505,949 $170,232,034 Region 9 $182,769,608 $19,062,913 $62,342,311 $264,174,832

Page 571 of 577



7.2.3 Economic Effect of Equine Veterinary Medicine on Value Added

The value added represents the increase in the gross revenue of production generated by an

industry. The direct contributions of equine practice to the gross revenue of production by

region varied from $145,781,473 to $512,941,638. At the national level, the direct effects were

estimated at $2,673,924,754. The total indirect effects were estimated at $538,244,792. The

induced effects at the national level were equivalent to $760,616,080. The aggregated effects

were estimated at $3,972,785,626 for the U.S. economy (Table 177).

Table 177: Economic Impacts of Equine Veterinary Practice on Total Value Added


Region 0 $192,107,833 $47,496,412 $71,400,763 $311,005,008 Region 1 $218,988,387 $57,272,131 $78,029,932 $354,290,450 Region 2 $269,439,598 $18,197,764 $39,663,267 $327,300,629 Region 3 $512,941,638 $99,027,701 $83,755,460 $695,724,799 Region 4 $335,823,352 $106,939,381 $124,701,161 $567,463,894 Region 5 $145,781,473 $25,416,201 $46,749,008 $217,946,683 Region 6 $163,644,681 $1,505,387 $24,807,336 $189,957,404 Region 7 $322,028,635 $96,578,535 $112,568,302 $531,175,472 Region 8 $195,251,345 $49,737,127 $69,348,292 $314,336,764 Region 9 $317,917,811 $36,074,152 $109,592,560 $463,584,523

7.2.4 Economic Effect of Equine Veterinary Medicine Output

The direct effect represents the gross sales of the equine veterinary industry. In other words,

the direct effect represents the total dollar value of the equine veterinary services sold to

consumers. In total, the direct effect of equine veterinary practices was estimated at

$3,553,116,133. The veterinary industry uses inputs from other industries, and the total value

of the products of these suppliers is captured in the indirect effect. The total indirect and

Page 572 of 577



induced effects at the national level were $943,888,813 and $1,315,166,676, respectively. The

aggregated effect for the entire economy was estimated at nearly $5,812,171,621 (Table 178).

Table 178: Economic Impacts of Equine Veterinary Practice on Output


Region 0 $262,008,543 $78,434,418 $116,062,838 $456,505,799 Region 1 $308,804,240 $94,086,615 $125,394,356 $528,285,211 Region 2 $290,568,202 $31,168,536 $68,032,449 $389,769,187 Region 3 $678,145,171 $176,666,976 $148,425,036 $1,003,237,183 Region 4 $536,168,363 $191,252,305 $222,323,986 $949,744,655 Region 5 $195,381,806 $45,964,320 $83,609,278 $324,955,404 Region 6 $158,838,853 $2,657,214 $42,964,502 $204,460,569 Region 7 $487,289,168 $172,133,495 $199,723,282 $859,145,946 Region 8 $280,534,671 $89,747,156 $121,733,224 $492,015,051 Region 9 $355,377,115 $61,777,778 $186,897,725 $604,052,618

7.2.5 Economic Effect of Equine Veterinary Medicine on Tax

Veterinary practices pay tax to the local, state and Federal government through different

channels: tax on employee and proprietor compensation, tax on production and imports,

service tax, and corporate tax. Calculations estimated the total value of the tax money received

from equine veterinary practices in each district. In total, states and local governments received

$2,486,913 in payroll tax, $160,410,269 in production and imports tax, $47,915,109 in service

tax paid by consumers, and $19,327,666 in corporate tax (Table 179). The Federal government

received $143,692,453, $20,377,063, $142,707,217, and $136,678,453 from taxes on employee

compensation, production and imports, household service expenditures and corporate

earnings, respectively. In addition, the Federal government received an estimated $26,491,736

as tax on proprietor income. Thus, the equine veterinary industry paid an estimated

$700,086,878 to the local, state and Federal governments (Table 179 and Table 180).

Page 573 of 577



Table 179: Economic Impacts of Equine Veterinary Practice on State and Local Tax Revenues

Employee Compensation

Tax on Production and Imports

Households Corporations

Region 0 $159,425 $10,558,946 $5,099,312 $1,843,288 Region 1 $175,828 $12,848,247 $7,822,215 $3,465,811 Region 2 $139,402 $15,111,932 $2,952,035 $1,739,269 Region 3 $273,273 $37,856,359 $2,585,282 $4,509,770 Region 4 $549,576 $20,774,416 $8,358,319 $1,616,159 Region 5 $139,395 $7,352,952 $3,530,271 $1,112,637 Region 6 $115,373 $8,971,839 $1,656,771 $1,578,503 Region 7 $281,505 $20,087,594 $3,416,893 $543,597 Region 8 $258,242 $11,898,546 $3,561,643 $888,895 Region 9 $394,894 $14,949,438 $8,932,367 $2,029,738

Table 180: Economic Impacts of Equine Veterinary Practice on Federal Tax Revenues

Employee Compensation

Proprietor Income

Tax on Production and Imports

Households Corporations

Region 0 $12,164,868 $2,875,071 $1,119,936 $16,351,185 $8,775,469 Region 1 $13,031,710 $3,309,520 $1,442,104 $16,659,202 $10,115,165 Region 2 $10,412,993 $600,869 $2,184,336 $6,808,909 $14,872,715 Region 3 $19,502,708 $1,496,052 $4,850,202 $13,915,673 $32,458,454 Region 4 $27,912,884 $2,809,188 $2,704,637 $19,382,412 $17,398,409 Region 5 $8,097,176 $2,203,582 $791,642 $8,640,967 $6,416,030 Region 6 $5,885,178 $367,570 $1,062,320 $4,449,491 $8,529,286 Region 7 $17,653,846 $5,360,433 $2,636,990 $22,710,023 $15,783,413 Region 8 $11,351,145 $3,062,334 $1,650,084 $12,255,397 $9,310,667 Region 9 $17,679,944 $4,407,118 $1,934,812 $21,533,958 $13,018,845

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RECOGNITION OF AUTHORS

Charlotte R. Hansen M.S. AVMA Veterinary Economics Division Statistical Analyst Matthew Salois Ph.D. AVMA Director of Veterinary Economics Bridgette Bain Ph.D. AVMA Veterinary Economics Division, Assistant Director of Analytics Frederic Ouedraogo Ph.D. AVMA Veterinary Economics Division Assistant Director of Economics Barbara Dutton Marketing & Communications Senior Content Writer Special thanks to the AVMA AAEP Task Force Team for their insight and assistance in preparation of this report. Amy L. Grice VMD, MBA Chair of AVMA AAEP Economic Impact Survey Task Force Ann Dwyer DVM AVMA AAEP Economic Impact Survey Task Force Member Kathy Anderson, DVM AVMA AAEP Economic Impact Survey Task Force Member Reynolds Cowles DVM AVMA AAEP Economic Impact Survey Task Force Member

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American Association of Equine Practitioners ECONOMIC …...American Horse Council estimated the U.S. horse population at 7.2 million in their recently released report (American Horse