Merchant Capital

5 Trends Veterinary Practices Should Adopt

With the adoption of digitisation and automation happening faster than previously anticipated, many Veterinary Practices, much like other businesses, are finding themselves in a position where they’re looking to the trends of the future and how to adopt these sooner so as not to be left by their competitors. Let’s look at some of the trends that your practice can begin to adopt.

1. Veterinary practices will move to the cloud

More practices are making the switch from paper-based or server-based practice management to cloud-based models. This allows you to access your data from anywhere with the functionality to restrict access for the more sensitive or confidential information. Cloud-based software tends to be faster and easier to learn and is scalable as your practice grows. You’ll also save money because you’ll no longer have to pay for hardware and server upgrades if you’re currently using a server. It also integrates easily with a varying number of practice management tools like client-facing apps and telemedicine.

2. More patients will use telemedicine

Because of the pandemic, that sped up the use and reliance of tech in our daily lives, there is now a wide acceptance of telemedicine because of the convenience users. Although veterinarians have been practising telemedicine for quite some time via emails, texts, and social media, they're now starting to set up more efficient systems to schedule virtual appointments and accept payment.

Not only do these telehealth platforms offer two-way messaging and video chats, but they also allow your clients the capability to schedule their pet’s appointments, request medication refills and view their pet’s vaccination history. All these features take a huge burden off your team's shoulders and reduce their workload.

3. AI will continue to evolve diagnostics

Artificial intelligence (AI) is innovating everyday veterinary diagnostics and will likely already make your routine diagnostics easier and more efficient if it hasn’t already. From blood work to radiographs, AI streamlines processes, offering your practice a faster turnaround time for specialist reports and providing results in minutes instead of hours or days. As the technology rapidly advances, we're likely to see AI popping up in other areas of veterinary practice.

4. The evolution of your veterinary staff

With many roles becoming digitised and automated, your practice will have the opportunity to better align your staff according to their capabilities and interests. Not only will this increase their job satisfaction and opportunity for growth, but it’ll also greatly benefit your veterinary practice. Your admin support staff, for example, can further their office management skills or venture into marketing or other interest. Your veterinaries can focus on more “doctor-only” duties instead of having to spread themselves thin by doing tasks that other staff members can assist with.

5. The veterinary medicine market

We’re aware that the pandemic significantly affected the South African market for veterinary medicine. These effects included low demand and sales in certain product segments because of the decrease in vet visits, supply chain challenges, reduced sales and marketing activities, and lockdown protocols. But despite all that, Research and Markets reports that the South African veterinary medicine market size is expected to reach US$ 248.2 million by 2028. This will allow the industry many growth opportunities. Not only will that translate to a wider variety of medications, but it will also allow pet owners to opt for medications that suit their pockets.

The bottom line

Veterinary Practises, like other businesses, are now faced with anticipating what the future looks like and adapting so as not to be left behind. Embracing these changes unlocks opportunities that you’re yet to even imagine.

To fund the digitisation of your veterinary practice, contact Merchant Capital and get access to funds in the next 48 hours.

 

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