How Does Your Practice’s ATC Compare?

Tracking the Average Transaction Charge (ATC also known as ACT) is key to understanding how your veterinary practice stacks up against others both nationwide and in your region. According to iVet360’s 2024 Veterinary Industry Benchmark Report, ATC rose nationally by 7.6% from 2021 to 2022 and by 8.3% from 2022 to 2023. The West had the highest 2023 ATC at $325, while the Midwest had the lowest at $201.

Here’s a regional breakdown:

– West: $325 (2023)

– Southwest: $269 (2023)

– Northeast: $236 (2023)

– Southeast: $216 (2023)

– Midwest: $201 (2023)

If your ATC falls below these benchmarks, consider reviewing your pricing and client service fundamentals. Personalized and proactive service starts from the initial phone call and continues through each step of the relationship. Consider refreshing team training to provide empathetic responses, manage inquiries effectively, and prioritize educational efforts during client interactions. Educating clients on pet health and leveraging client interactions as learning opportunities and retention and reactivation strategies. The same goes for client engagement and customer service fundamentals. Personalized and proactive service starts from the initial phone call and continues through each step of the relationship. Consider refreshing team training to provide empathetic responses, manage inquiries effectively, and prioritize educational efforts during client interactions. Educating clients on pet health and leveraging client interactions as learning opportunities can improve engagement and build long-term loyalty.

For the full report, visit the iVet360 2024 Veterinary Industry Benchmark Report.