Abstract
The purpose of this study is to estimate the economic cost of burnout in the veterinary profession and highlight the financial reasons why the industry should address the burnout crisis from an organizational perspective. Using data from 5,786 associate veterinarians in private practice, information was obtained using employment information related to compensation, work hours, hour preferences, and job turnover. Burnout was measured using the Professional Quality of Life Scale and used to calculate conditional probabilities on turnover and reduced working hours due to burnout. Lost revenue from each outcome (turnover and reduced working hours) was then used to calculate the economic costs to the veterinary services industry. The attributable cost of burnout of veterinarians to the US industry is between $1 and 2 billion annually in lost revenue, though there is a large amount of uncertainty. The cost is dependent on whether veterinary technicians are included in the analysis. The highest economic cost per veterinarian is among food animal practitioners, while the lowest is among equine. This study demonstrates that there are significant economic costs due to burnout among veterinarians and veterinary technicians. We suggest pursuing organizational interventions as these have shown the most impact in decreasing burnout and increasing satisfaction among human health physicians.
Highlights
Burnout is a prominent problem in many healthcare professions [1,2,3,4] and not solely unique to veterinary medicine
Number of veterinarians (2020 estimates) Prevalence/probabilities Burnout proqol (≥25) Actual turnover (2020 data only) Actual turnover due to burnout (2020 data only) Reduce work hour P(RH = 1) Reduce work hour signaling P(RH = 1|B = 0) Reduce work hour signaling due to burnout P(RH = 1|B = 1) Cost parameters Median and mean annual salary for associates (2020 $ equivalents) Veterinarian replacement cost (66% of annual salary)—median and mean Average net revenue contribution ($/associate vet/year)—median and mean Average vacancy period
Using the median values and the entirety of the associate clinical profession, it is estimated that the economic cost of burnout due to turnover and reduced working hours is ∼$997 million in lost revenue
Summary
Burnout is a prominent problem in many healthcare professions [1,2,3,4] and not solely unique to veterinary medicine. 86.7% of US veterinarians had ProQOL burnout scores in the moderate or high range [6]. This trend of burnout is increasing over time [6, 7], as well as overall stress levels for veterinarians [8]. Burnout affects the psychological and emotional health of individuals, and the economic health of practices and the entire industry [9]. This study is the first to quantify the economic impact of burnout in veterinary medicine
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