{"id":9092,"date":"2020-10-09T06:49:17","date_gmt":"2020-10-09T13:49:17","guid":{"rendered":"https:\/\/todaysveterinarybusiness.com\/?p=9092"},"modified":"2022-06-15T17:46:36","modified_gmt":"2022-06-15T17:46:36","slug":"veterinary-business-recovery-covid-19","status":"publish","type":"post","link":"https:\/\/navc.sitepreview.app\/todaysveterinarybusiness.com\/veterinary-business-recovery-covid-19\/","title":{"rendered":"Preparing for the Post-Pandemic Veterinary Business Landscape"},"content":{"rendered":"

In December 2019, the NAVC undertook a research project to better understand how veterinary professionals feel about their job, the industry in which they work and emerging trends in the veterinarian\/animal care space. The results were published in Amplifying the Voice of the Veterinary Community<\/i>, which we at the NAVC planned to use to inform and develop best-in-class support and services. Among our ideas were to provide more resources to support veterinary professionals who identified work-life balance, depression and mental health issues, student debt and low pay as challenges negatively affecting their well-being.<\/span><\/p>\n

But shortly after publishing the survey results, the NAVC and the veterinary community, along with the rest of the world, were sent reeling by COVID-19<\/a>. The result of the pandemic has been a massive, rapid and ongoing hit to the global economy. <\/span><\/p>\n

We at the NAVC shifted our attention to helping the veterinary community grapple with the effects of the coronavirus. Our Spark team produced videos that detailed best practices on providing virtual care. Today\u2019s Veterinary Business started a weekly series called Tales from the COVID-19 Front Lines<\/a>, which offered wide-ranging advice on addressing the crisis within the clinic, including protocols for services such as curbside pickups and tips on coping with leadership fatigue. The NAVC and VetFolio began offering CE for free and produced webinars and podcasts to help professionals navigate the unique demands of providing virtual care.<\/span><\/p>\n

As we put the finishing touches on this inaugural issue of the Clinic Innovation Guide<\/a>, there were still many unknowns about the economic recovery from the coronavirus. \u201cOur economy has not seen contractions of this kind on a quarterly or annual basis since the aftershock of World War II,\u201d notes the American Veterinary Medical Association (AVMA).1<\/sup> There are three possible scenarios for recovery, reports the Harvard Business Review, which are \u2014 if they are depicted on graph paper \u2014 shaped like a V, U or L. These letters correspond to best-, middle- and worst-case scenarios, respectively.2<\/sup><\/span><\/p>\n

What\u2019s in a Letter?<\/b><\/p>\n

In early June, the National Bureau of Economic Research declared a recession in the United States, noting that the economy had begun its decline starting in February 2020.3<\/sup> Here\u2019s what the recovery could look like:<\/span><\/p>\n