The Spectrum of Solutions for Veterinary Cost Concerns

View the original article published in a supplement of the December 2024 issue of Clinician's Brief.

When I was in clinical practice, there were a couple of things that scared me. One was an obese dog spay, and the other was talking to clients about expensive estimates. Although concerns about the cost of care are nothing new, the financial challenges pet owners face today are unique.

Over the past few years, as costs for providing veterinary services have risen, so has the cost of accessing veterinary care — faster than the rate of U.S. inflation, in fact.¹ Shelters are filling up.² Meanwhile, practice managers are reporting that clients are negotiating treatment estimates like never before, and our patient numbers are dropping.³ There’s no question our clients are feeling the stress — an expense of $250 is enough to trigger anxiety in 1 out of 4 pet owners.⁴

The cost of care is one of the most significant barriers our clients face, so it’s more important than ever to engage them in up front, transparent financial discussions. This means creating a client-centric financial system for the practice and training everyone on the team to put it to work. It also means offering a spectrum of care that encompasses a variety of treatment possibilities and payment options, empowering pet owners to choose the best possible care within their financial means.

Here’s how to make it happen.

Be Proactive by Creating a Practice Financial Policy

No one likes surprises, especially when it comes to money. A clear, fully implemented, clinic-wide financial policy is essentially a client’s bill of rights that establishes the financial relationship you want to build with them. It’s more than a transactional document; it’s the foundation of how you’ll partner with them financially in a transparent and collaborative way. For example, you could promise to:

• Provide the client with a plan for their pet’s healthcare before any care is provided
• Provide a detailed list of costs with the healthcare plan
• Talk about the patient’s needs
• Listen to the client’s needs
• Discuss various treatment options that provide care for the pet at a price the client can afford
• Answer any questions about the care to be provided
• Offer multiple payment options to help ensure that cost is not a barrier to the provision of care
• Update the client on the progress of their pet as the care is provided
• Update the client on any changes to the cost of care before they occur
• Identify specific team members for clients to talk to if there is a problem

Once a financial policy has been created, make sure it’s accessible to clients — post it on your website, include it in your welcome-to-the-practice form and display it visibly within the clinic.

It’s also important to train the team on the policy, and one of the best ways to do this is through role-playing. Role-play the client, client service representative, veterinarian and technician to cover each element of the financial policy. This can help equip your team with the skills to talk about cost clearly and effectively, helping prevent invoice surprises.

Be Transparent With Treatment Estimates

The treatment estimate, or healthcare plan, is the tool we use to communicate with clients about cost. When this written document is presented to clients, we focus first on the patient’s clinical needs, explaining the benefits to the client and making sure they understand the “why” behind our recommendations. Then, we move on to the cost of care.

For a spectrum of care approach, different tiers of care should be presented in the estimate. This could include optimal care options as well as effective alternatives that can benefit that pet but at a lower cost. Whether you call them gold-silver-bronze, Rolls Royce-Lexus-Toyota or something else, presenting multiple options allows clients to choose the level of care that fits their financial situation without compromising their pet’s health.

Avoid Prejudging Clients

Many of us, myself included, have looked at a client’s car or outfit and made a judgment about whether they could pay. Many of us have also been shocked by what those same people have agreed to or turned down. If we really want clients to believe in us, we have to communicate about cost up front and without judgment, especially in a business in which we’re providing healthcare to four-legged family members.

Failing to proactively and transparently communicate costs and the value of our recommendations to pet owners may lead to suspicion, mistrust and the declining of treatment plans.

Be Flexible With Multiple Options for Payment

One of the best ways to help clients be prepared for the cost of their pet’s healthcare needs is to offer flexible, budget-friendly ways for them to pay for it. The CareCredit health and pet care credit card is a financing solution that offers pet owners a way to pay for their pet’s care up front and make payments over time.

Make sure clients know their options by sharing the payment methods your practice accepts. Post this information on your website and include it in appointment reminders, client newsletters and other communication touchpoints.

Be sure to ask new clients if they have pet insurance and, if so, what company and type of policy. If they say no, ask them if they want more information. Be ready with your recommendations for insurance providers you trust, but make sure they understand it won’t cover preexisting conditions. It’s a great conversation to have with new clients and clients with new pets.

When we offer multiple options for payment, we’re practicing a spectrum of care. Working within our clients’ limitations and providing financial solutions can allow them to choose treatment over euthanasia. Even clients with limited financial means can often afford some form of treatment to help their pet — and they desperately want to. So, let’s help them find a treatment path they can manage.

Build Trust Through Communication

As veterinarians, we are doctors and healthcare professionals, but we are also service providers. Our role extends beyond just caring for animals to also being educators and helping clients understand the value of veterinary care. And the foundation of this understanding is trust.

Although 7 out of 10 pet owners consider their pets a part of their family, many are unprepared for the cost of pet ownership.⁴ So when a service estimate is higher than they’re expecting, they have to weigh the value of their pet’s veterinary expenses against other costs in their lives.

To help clients recognize the value of care, we need to clearly communicate the importance of a medical service and how it will positively impact the well-being of the patient and share the cost transparently, whether it’s the highest level of care or an acceptable alternative. Make sure you and your team are actively listening, clearly communicating and working with pet owners to find a solution that works for them and their pet.

Empower Your Clients to Choose Care That's Right for Them

Our job as veterinarians is to maintain the human–animal bond and make sure clients understand the value of the care they receive at our practice and how it helps protect that bond. When we elevate the client’s experience through being proactive, transparent, flexible and trustworthy, we make it easier for them to say yes to care. After all, veterinary medicine is not a transactional profession but a relationship profession. And when we help patients get the medical care they need, we strengthen our relationship with their owners.

A Veterinary Financing Solution for Your Clinic

Looking for a way to help your clients manage the cost of care that is needed for their pets? Consider accepting the CareCredit health and pet care credit card. CareCredit is a flexible financing solution that allows cardholders to pay for veterinary services over time,* while you get paid within two business days.

When you accept CareCredit, you will receive a custom link that allows clients to see if they prequalify with no impact to their credit score. Those who apply, if approved, can take advantage of special financing on qualifying purchases.* The entire process is mobile-friendly, leaving you free to focus on providing the care pets need.

Learn more about the CareCredit credit card as a veterinary financing solution or start the provider enrollment process by filling out this form.

Author Bio

Peter Weinstein, D.V.M., M.B.A., is a veterinarian, owner of PAW Veterinary Consulting and president of Simple Solutions for Vets. As a former practice owner, speaker, author and professor, he has been actively involved in organized veterinary medicine, serving previously as president of the California Veterinary Medical Association and in other leadership roles with the Southern California Veterinary Medical Association and Vet Partners. In addition to his consulting work, he currently teaches business and finance at the Veterinary College of Western University of Health Sciences.

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