When the Veterinarian Can’t Work
Veterinarians carry outsized financial risk and occupational hazards. Income protection shouldn’t be an afterthought — it should be standard practice.
Jamie Fleischner
Veterinary medicine ranks second out of all U.S. industries for nonfatal workplace injuries, according to the Bureau of Labor Statistics. In 2024, 11.1 out of 100 veterinary professionals experienced injuries that could interfere with their ability to work. That number is almost five times the national average of 2.3, and it falls second only to professional athletes. And, according to the Centers for Disease Control, up to two-thirds of veterinarians and 98% of veterinary technicians will be injured by an animal at some point during their careers.
In veterinary medicine, income depends on one’s physical ability to provide animal care. Veterinary professionals face occupational hazards that most white-collar professionals never do. Despite this, disability insurance for veterinarians is among the most commonly deferred decisions.
A Physically Demanding Calling
Unlike other medical professionals, veterinarians work with patients that bite, scratch, and kick. Dr. Michelle Custead, a veterinary oncologist and owner of Ally Veterinary Specialty Center in Waltham, Massachusetts, has seen firsthand how veterinary services carry physical danger risks. “When cats bite you, their teeth are almost like little daggers,” Dr. Custead said. “They can instill bacteria deep into the tissue, and then it can close up quickly, and that bacteria can just fester.” Dr. Custead knows several veterinarians who have needed multiple surgeries to recover from a single cat bite. She also recounted a colleague whose hands were crushed when a horse leaned against a barn door, fracturing both of her arms instantly. “She was an equine surgeon,” Dr. Custead said. “She was unable to work because of that injury.”
While nonfatal, injuries like these can sideline a veterinarian who relies on their dexterity to earn a living.
Financial Exposure
A 2019 study published in the Journal of the American Veterinary Medical Association found that veterinarians die by suicide at significantly higher rates than the general population. Financial stress is a contributing factor. According to the American Veterinary Medical Association, veterinary school borrowers carry an average of approximately $180,000 in debt upon graduation. While the debt-to-income ratio for new graduates has improved in recent years (falling to 1.4 in 2024), more than 40% of new veterinary graduates carry a ratio above 1.5, which means they’ll need an income-driven repayment plan.
“A lot of times, we have the same amount of loans that a human physician does — hundreds of thousands of dollars,” said Dr. Custead. The difference is that veterinarians typically earn less, often work in small practices without comprehensive benefits, and are more likely to be sole proprietors rather than salaried employees. That combination of high debt, hands-on risk, and thin institutional support creates a financial profile where income disruption can more easily bankrupt a practice.
What Needs to Change
In a single-doctor practice, the veterinarian is the revenue engine. If that person cannot work, there is no production and no billing. And within a matter of weeks, there is no payroll for staff, no continuity for patients, and no preservation of the patient relationships that represent the practice’s long-term value.
Income protection for veterinarians should be treated with the same urgency as liability insurance, business succession planning, and the other standard risk-mitigation strategies that every practice advisor recommends.
1: Veterinarians and Practice Owners Should Assess Their Individual Exposure
That means understanding:
- How much of the practice’s revenue depends on a single doctor’s ability to work
- What the financial gap would be between existing coverage (if any) and actual income
- How long the practice could sustain operations during a health disruption
Practice owners should consider a business overhead expense policy. This policy will pay the practice if the veterinarian is sick or injured and can’t work. It will also pay the practice to hire a substitute, and it will pay the rent and cover payroll.
2: Contingency Planning Should Be Formalized
All practice owners should identify who can run payroll, communicate with clients, and coordinate locum coverage if the primary clinician is suddenly unavailable.
3: Own-Occupation Individual Disability Insurance Should Be Evaluated by Every Practicing Veterinarian
This should happen regardless of whether they have access to group coverage. Group plans offered through employers typically provide limited benefit amounts and shorter benefit periods. They’re also taxable and may require the veterinarian to be totally disabled and not working. An individual own-occupation policy that pays benefits if the veterinarian cannot perform the specific duties of their specialty is very different from a group or association plan that defines disability as the inability to perform any occupation. The own-occupation definition means that if a veterinarian cannot work in their subspecialty, they still receive a monthly benefit payment even if they can work in another specialty or occupation.
Other riders to consider include:
- Residual/partial disability riders
- Benefit increase options
- COLA (cost of living) riders
It is also critical to engage an independent broker who can advise you on the most suitable policy, regardless of the insurance company.
4: Practice Advisors, Lenders, and Vet School Financial Counselors Should Normalize This Conversation
Just as new graduates are guided through loan repayment options and employment negotiations, they should be introduced to the concept of income protection before the first day of practice.
The Window That Closes
The veterinary profession has made significant progress in addressing mental health, workplace safety, and financial literacy. Income protection deserves the same institutional attention. The question is not whether a veterinarian can afford disability insurance. It’s whether a veterinarian carrying a six-figure debt load, working hands-on with unpredictable animals, and running a business that depends entirely on their dexterity can afford not to have it.
Fonte: todaysveterinarybusiness.com
