Thursday, July 5, 2012
Walmart and Target are Now in the Pet Medication Business
Dear Readers, Listeners, and Viewers,
My podcast this evening focuses the new reality of veterinary medicine, superstore giants have turned their sites on our industry, and not only are they here to stay, they are going to exert more influence and eat up a larger portion of the pet veterinary industry as time goes on.
Now this has many veterinarians scared, depressed, angry...name your negative emotion. For pet medication revenue for the past 15-20 years has served to improve the quality of our profession with the ability to afford the best equipment and technology, attract the the best employees, and keep the cost of services much lower than our human medical counterparts. That ship has now sailed, yet despite that revenue loss, we are still mandated to provide a high level of care and services that our customers are accustom to, keep up with new technology, pay our employees well and offer them benefits, and continue to pay our taxes and other operational costs. I can see why many a veterinarian may be losing sleep over this.
This veterinarian, however, is not concerned. I will explain why I have little concerns about Target, Walmart, and any other big business trying to snare their share of the veterinary industry. I will also explain why the entry of these corporate giants into this industry may seem good for pet owners on the surface with lower pricing for pet medications, but I will remind you that not all is as peachy as it may seem. There is no such thing as a free lunch, and this circumstance will be no different. Be forewarned that there will be negative consequences as a result of this new reality, so tune in to find out!
Also, we have 3 listener e-mail questions to address tonight. Feel free to submit your questions/comments to be addressed on the air by e-mailing them to firstname.lastname@example.org.
Thanks as always for caring about what I have to say. :)
Roger Welton, DVM
Dr. Roger Welton is the President and chief veterinarian at Maybeck Animal Hospital in West Melbourne Florida, as well as CEO of the veterinary advice and health management website Web-DVM.net.