Unique Ideas for Care Despite Rising Veterinary Costs
Description
Join me for this episode of the show as Melissa Stedman, CVPM of Brandywine Valley Veterinary Hospital, discusses some unique ideas for providing veterinary care despite rising costs. She shares that her practice has unfortunately seen a significant drop in certain services like dentals, spay/neuters, and preventative care as clients struggle with increased financial pressures. To help address this, Melissa's practice focuses on offering clients flexible payment options, including in-house payment plans for established clients.
Melissa's practice also uses medical credit card companies and "pay-in-four" style plans to help spread out costs. She highlights the importance of not judging clients' financial situations and instead working to find solutions that provide the necessary care. Her practice also gets creative with bundling services, such as offering discounted packages for medications such as Solensia. She reveals that they have found success in bundling routine lab work as well.
While Melissa cautions against devaluing services through free exams, she believes that bundling can be an effective way to make important treatments more accessible, and she also highlights the importance of being transparent with staff, sharing details on expenses and costs, helping to empower staff to be more mindful of waste and capture appropriate charges. Her practice has also found success in offering online booking, which has helped drive more routine visits.
Melissa's insights provide practical strategies for veterinary practices dealing with the challenges of rising costs while still prioritizing quality patient care and the human-animal bond. I hope that you enjoy my conversation with Melissa!
This episode is brought to you by CareCredit. CareCredit understands you are busier today than perhaps ever before, so to help free up your time, the CareCredit Health and Pet Care credit card allows clients to access a budget-friendly financing experience. They can learn, see if they pre-qualify, apply, and even pay if approved all on their own. With just the tap of a link or a quick scan of a QR code, they have a friendly, contactless way to pay over time for the services and treatments their pet needs.
Show Notes:
[2:46 ] - Melissa discusses how dental procedures dropped in 2024 as clients prioritized essentials over costly care.
[4:00 ] - Staggered vaccine appointments help clients financially but reduce doctors' average transaction values and productivity.
[5:37 ] - Melissa stresses offering gold-standard care first and then adapting based on clients' financial comfort.
[6:50 ] - In order to avoid costly ER visits, Melissa's clinic offers weekday care plans for some urgent problems.
[9:57 ] - Brandywine provides in-house payment plans for trusted clients, even though there are financial risks involved.
[11:18 ] - It's important to be cautious with high-risk payment plans.
[14:07 ] - I reflect on having helped fund an emergency C-section, trusting the client's promise to eventually repay me.
[17:18 ] - I want to bundle costly monthly injections to increase profits while also improving patients' long-term quality of life.
[18:17 ] - Hear how Melissa bundles diagnostics and meds such as Solensia to boost early compliance.
[20:36 ] - Melissa rewards her inventory manager for cost-saving efforts and educates staff on minimizing waste.
[22:17 ] - Being transparent with your staff helps them understand costs, reduce waste, and suggest budget-friendly alternatives.
[25:00 ] - Melissa shares how online booking increased appointments and engagement.
[28:30 ] - It's important to have compassionate flexibility and in-house plans to help struggling but committed pet owners.
Thank you for listening. Remember you are not in this alone. Visit our website for more resources.
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