Washington State Veterinary Medical Association (WSVMA) Market Research Report

Background

The Washington State Veterinary Medical Association (WSVMA) is a professional organization dedicated to advancing veterinary medicine to enhance the lives of animals and people. Established in 1944, WSVMA focuses on supporting veterinarians in Washington State through advocacy, education, and resources, enabling them to provide high-quality care for pets and food animals, safeguard public health, and protect the food supply.

Key Strategic Focus

WSVMA's strategic objectives include:

• Member Wellbeing: Addressing challenges such as educational debt, work-life balance, performance pressures, compassion fatigue, and corporate competition.

• Advocacy: Influencing state legislative policies affecting the veterinary profession and private small businesses.

• Education: Providing continuing education opportunities, including the annual Pacific Northwest Veterinary Conference, offering over 140 hours of CE credit.

• Community Engagement: Fostering a sense of community among veterinarians to enhance professional fulfillment.

Financials and Funding

As a 501(c)(6) nonprofit organization, WSVMA's financial highlights for the fiscal year ending October 2023 include:

• Revenue: $1,059,259

• Expenses: $975,590

• Net Assets: $918,587

The primary revenue sources are program services and membership dues.

Leadership Team

• Ken Gordon: Chief Executive Officer since October 2023. Previously led the Northwest Association for Biomedical Research for ten years. Holds postgraduate qualifications in finance and public policy, with additional studies from Harvard and Stanford Graduate Schools of Business.

• Dr. Eddie Haigh: President. Graduated from Washington State University in 2010. Focuses on small animal and aquaculture. Served as Chair of the Pacific Northwest Veterinary Conference for five years.

• Dr. Sally Thompson-Iritani: Vice-President. Holds a DVM from Iowa State University and a PhD from the University of Washington. Currently Assistant Vice Provost for Animal Care, Outreach, and 3Rs at the University of Washington.

• Dr. Victoria McLean: Treasurer. Graduated from the University of Illinois College of Veterinary Medicine in 2019. Works in small animal general practice and urgent care in Renton.

• Dr. Haena Lee: Secretary. Graduated from Midwestern University in 2020. Currently a relief veterinarian in the South Sound area.

Leadership Changes

In October 2023, Ken Gordon succeeded Candace Joy as CEO. Joy had served as CEO, expanding the association and advancing the veterinary profession.

Competitor Profile

Market Insights and Dynamics

The veterinary services industry in Washington State is characterized by a mix of independent practices and corporate-owned hospitals. The demand for veterinary services continues to grow, driven by increasing pet ownership and heightened awareness of animal health.

Competitor Analysis

• Banfield Pet Hospital: Headquartered in Vancouver, Washington, Banfield operates over 1,000 clinics, many within PetSmart stores. As the largest privately owned veterinary practice in the U.S., Banfield offers veterinary care and wellness plans.

• PetVet Care Centers: A network of over 400 hospitals across the U.S., including small animal and equine general practices, emergency, and specialty centers. Emphasizes local management with global support.

• Washington State University College of Veterinary Medicine: Established in 1899, it is the sole veterinary school in Washington State, contributing significantly to veterinary education and research.

Strategic Collaborations and Partnerships

WSVMA has established partnerships to enhance member services:

• MentorVet: Provides mentorship programs for early-career veterinarians.

• LifeLearn: Offers educational resources and tools for veterinary practices.

• Petriage: Integrates telemedicine services into member practices, expanding access to veterinary care.

Operational Insights

WSVMA differentiates itself through:

• Advocacy: Active involvement in legislative processes affecting the veterinary profession.

• Education: Hosting the Pacific Northwest Veterinary Conference, a key event for continuing education.

• Member Support: Addressing challenges unique to veterinarians, such as work-life balance and compassion fatigue.

Strategic Opportunities and Future Directions

WSVMA aims to:

• Increase Membership: By highlighting member benefits and addressing industry challenges.

• Enhance Advocacy: Strengthening influence in legislative and regulatory matters.

• Expand Educational Offerings: Developing new programs to meet evolving professional needs.

• Promote Diversity, Equity, and Inclusion: Implementing initiatives to create a more inclusive veterinary community.

Contact Information

• Website: www.wsvma.org

• Social Media:

• Facebook: Washington State Veterinary Medical Association

• Twitter: @WSVMA

• LinkedIn: Washington State Veterinary Medical Association

This report provides a comprehensive overview of WSVMA's operations, leadership, financials, and strategic initiatives within the veterinary services industry.