Current economic trends in equine practice.
Current economic trends in equine practice are trends of weakness. Most practices, after a decade of double-digit growth, have migrated to survival mode within a few months. Understanding that all regions and disciplines are affected differently, using the Porter five forces model, we can identify changes that must be made in our business models first to survive and then to position ourselves to prosper when the recession ends. If we are to avoid long-term damage to our practices, we must use cost control and work efficiency in addition to price concessions.
Clark
Andrew R
AR
Hagyard Equine Medical Institute, 4250 Iron Works Pike, Lexington, KY 40511, USA. aclark@hagyard.com
D000818:Animals; D057172:Economic Recession; D004520:Education, Veterinary / Q000191:economics / Q000639:trends; D006736:Horses; D020407:Internet; D010593:Pharmaceutical Services / Q000191:economics; D020399:Practice Management / Q000191:economics* / Q000458:organization & administration / Q000592:standards / Q000639:trends*; D014481:United States; D019155:Veterinary Drugs / Q000191:economics; D014730:Veterinary Medicine / Q000191:economics* / Q000458:organization & administration / Q000592:standards / Q000639:trends*
D019155:Veterinary Drugs