
iVET360 Releases 2025 Veterinary Payroll Report
iVET360 Report Reveals a Catalyst for Positive Change
Portland, Oregon – In a time when many veterinary practices are struggling to retain skilled staff, iVET360 illuminates a powerful truth: the key to enduring success lies in nurturing the growth and well-being of your most vital resource – your people. The 2nd Annual Payroll Report from iVET360 shows that practices prioritizing fair compensation and employee well-being thrive, even in challenging times.
“Our research confirms what we’ve always believed: when you take care of your team, they take care of your practice,” says Oliver Roller, CTO.
Key Findings in the Payroll Report:
- The costly problem with high Technician Turnover. With a replacement cost of $24,000 and a lost revenue per vacant tech position of $35,000, it totals a ~$59,000 impact per technician.
- Investing in competitive wages, meaningful training, and a strong workplace culture can significantly reduce turnover and improve practice performance.
- The average payroll-to-revenue ratio held steady at 41.1%, and support costs remained around 22% of revenue, demonstrating stable payroll ratios despite labor market challenges.
- Investing in teams leads to increased retention, reduced costs, and a more positive environment, which attracts top talent.
Our latest Payroll Report serves as a roadmap for building thriving practices by focusing on three key areas: fostering a positive workplace culture, empowering veterinary professionals, and creating a virtuous cycle of investment in your team. By prioritizing these areas, practices can significantly reduce turnover rates, boost employee satisfaction, and drive long-term success.
The report recommends embracing a multi-faceted approach, emphasizing the importance of employee well-being, paired with making data-driven decisions using tools like iVET360’s PULSE dashboard to track key metrics and inform choices about staffing and compensation. By leveraging industry benchmarks, regional wage data, and powerful analytics tools, you can make informed decisions that ensure a sustainable and fulfilling future for your team and the animals they care for.
Download the full report to gain valuable wage insights, expert guidance, and effective strategies for constructing a resilient, successful practice ready for the challenges of tomorrow at https://ivet360.com/vpr/
Established in 2013 and headquartered in Portland, Oregon, iVET360 is a practice management services company providing critical support to veterinary hospitals nationwide. Their specialists educate and assist practices with marketing, analytics, bookkeeping, team training, and HR services to ensure the complete implementation of proven business strategies into the daily activities of hospitals.