Top Trends from the 2024 AVMA Economic Forum: AI, Cost Transparency, and Client Trust 📊

Top Trends from the 2024 AVMA Business and Economic Forum: AI, Cost Transparency, and Client Trust 📊

Veterinary medicine is in the midst of an exciting transformation. The 2024 AVMA Business and Economic Forum brought to light critical insights that will impact how we operate—both now and in the future. From the rise of AI scribes to the importance of wellbeing and transparent communication with clients, there’s a lot to unpack.

I had the opportunity to attend this year’s forum, and I want to share the key carry forwards (some say takeaways) that can help veterinary professionals across the board. Whether you’re running a practice or just starting out in your career, these actionable ideas will help you navigate today’s landscape and prepare for tomorrow. 🌟

AI: Your New Clinical Assistant 🤖

Artificial intelligence (AI) is no longer a distant dream for veterinary practices. Today, AI scribes are already helping veterinarians manage tasks like note-taking and record-keeping, freeing up more time for what really matters—patient care 🐾.

Imagine reducing the hours spent on administrative work so you can focus on diagnostics and treatments. AI is already improving efficiency in practices by speeding up routine tasks, allowing teams to see more patients and reduce stress levels. Practices using AI tools report increased productivity, more accurate medical records, and better client communication.

💡 Have you thought about how AI could help your practice? Drop a comment below—let’s chat about where AI might fit into your workflow!

Wellbeing: The Foundation of Sustainable Veterinary Practice 🧘‍♀️

The wellbeing of veterinary professionals was a major focus at the 2024 AVMA Forum. High stress levels and burnout remain significant issues, especially for younger professionals entering the field. Yet, many practices that prioritize team wellbeing through initiatives like mental health check-ins and flexible work schedules are seeing better job satisfaction and higher retention rates.

A key insight from the forum was the need for system-wide changes—not just focusing on individual resilience, but creating environments where wellbeing is embedded in daily practice. When we feel supported, we can do our best work.

🔄 What does wellbeing look like in your clinic? How do you think we could better support our teams? Let’s swap ideas in the comments!

Client Communication: Building Trust Through Transparency 💬

One of the biggest takeaways from the forum was the importance of cost transparency with clients. Pet owners are often anxious about how much care will cost, and many are unsure how to plan for it. The solution? Proactive communication about costs and payment options.

Clear, upfront discussions on payment plans and treatment costs can ease clients’ worries and build trust in your practice. Clinics that consistently discuss costs early report fewer surprises for clients and stronger relationships.

👥 How do you approach financial conversations with clients? Share your tips for balancing transparency and care—we’d love to hear what works for you!

Navigating the Current Macroeconomic Climate and What It Means for Veterinary Practices 📊

As we navigate 2024, the US economy presents both challenges and opportunities for veterinary practices. Inflationary pressures continue to affect the cost of goods and services, including veterinary supplies, medications, and equipment. Meanwhile, rising interest rates are impacting the availability and cost of financing for both practices and clients.

At the forum, there was significant discussion about the importance of financial planning in times of economic uncertainty. Practices must be prepared to adapt to fluctuating costs while maintaining accessibility for clients, many of whom are feeling the pinch from higher living expenses. Offering flexible payment plans and financing options has never been more important for maintaining strong client relationships and ensuring pets receive the care they need.

Takeaway: In today’s economic climate, proactive cost management and client communication are key to maintaining a successful practice. By anticipating financial concerns and providing clear, manageable options for clients, you’ll position your practice as a trusted and reliable partner.

Why This Matters for the Future of Veterinary Medicine 🐾

As a candidate for AVMA President-Elect, I’m deeply invested in leading the charge on innovation, wellbeing, and client trust within veterinary medicine. My involvement in the 2024 AVMA Business and Economic Forum reaffirmed my commitment to helping our profession adapt to new technologies while maintaining the compassionate care that defines us.

By embracing AI, fostering healthier work environments, and prioritizing transparent communication, we can build a stronger future for veterinary medicine—one where both professionals and clients feel supported. We’re all in this together, and the changes we make today will determine the success of our practices and our profession tomorrow.

Join Me on This Journey: The Future of Vet Med is Bright 🌟

Now more than ever, it’s important to stay informed and connected. Whether you’re a practice owner, a team leader, or just beginning your veterinary journey, let’s work together to build a profession that thrives on innovation and compassion.

🔔 How do you see AI, wellbeing, and client trust shaping the future of vet med? Join the conversation in the comments, and let’s learn from each other!