Analysis shows corporate entry reduces revenue and employment in independent veterinary practices, indicating a significant challenge in urban and rural areas.
This paper examines the corporatization of veterinary medicine and its impact on independent veterinary practices in the United States using a longitudinal data set from 2000 to 2021. Results show independent practices are 1.9% more likely to exit after corporate entry, with employment and revenue dropping 5.7% and 6.9%, respectively. Urban areas experience nearly double the impact of rural ones. Event studies reveal a delayed response, with revenue effects becoming statistically significant 6 years post‐entry, reaching 18.7% in urban and 13.3% in rural areas. Co‐location benefits have diminished since 2010, highlighting rising market power and adverse competition from corporate practices.
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Sandro Steinbach (2025) studied this question.
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