Dr. J, a young Veterinarian, and her husband set out to build their own clinic early last year. While building a practice from the ground up can lead to numerous rewards and a great deal of independence, it can come with countless challenges. The young couple had dreams of building a multi-faceted practice, supplementing their regular practice with a variety of services (kennel space, pharmacy services, etc.). However, like many practitioners before them, they found their greatest challenge in building and maintaining a stable client base.
Traditional marketing offered mixed results, and most promotional deals and coupons lead to single visits, but did little to increase loyalty. Furthermore, the many potential patients in their community found the cost of caring for their pets increasingly difficult to manage. As we previously discussed, a recent Bayer study showed that pet owners overwhelmingly want quality veterinary care for their pets, but fiscal concerns often put price before loyalty. Many pet owners find themselves bouncing between lowest bidders for each procedure, instead of creating a lasting relationship with a particular doctor.
In a community with mixed incomes, Dr. J needed a financing option that created customer loyalty, while ensuring pets got the care they needed. By employing a Wellness Plan module, they were able to establish a monthly membership plans for pet owners. By paying a moderate monthly fee directly to the practitioner, pet owners have access to everything from regular check-ups to larger procedures, including many visits not covered by traditional insurance. This provides better care for the pets, a more relaxed financial commitment for pet owners, and greater customer loyalty for the practice.
But they didn’t stop there. Because of the customizable nature of the Wellness Plan module, the young Vet was able to create a variety of care plans that fit the needs of her community: puppy plans, feline plans, senior plans, etc., each uniquely suited for the needs of different pets. Furthermore, each plan included customizable access to the practices kennel space, spa services, etc., further ensuring patient loyalty and supplementing the practice’s revenue.
Within eight months, this new practice had 180 pets on Wellness Plans, creating the necessary financial stability to keep the clinic afloat, and strong relationships with the pet owners in the community. In the coming weeks, we’ll examine how these plans are becoming the preferred choice in many Veterinary practices, and how automated payment-management software is making it easier than ever for clinics to approve patients for financing, thus allowing Vets to focus on taking care of pets, while comfortably generating financial stability for their practice.