Nine out of 10 veterinarians agree that pet health insurance coverage helps clients say “yes” to optimal care, according to a report released by Pawlicy Advisor and the American Animal Hospital Association.
The report, available for download at bit.ly/4pBDE8f, summarizes findings from a survey of 557 U.S. veterinary professionals in various roles and practice types. It also documents how pet insurance influences practice dynamics from all perspectives, including patient outcomes, client satisfaction and staff well-being.
Nearly 1 in 4 veterinary professionals said that at least 20% to 30% of euthanasia cases at their clinics are driven by cost factors. Additionally, 84% of veterinary workers adjust treatment plans to accommodate financial constraints.
Practices with a higher percentage of insured patients are less likely to cut corners on treatment plans because of costs or perform economic euthanasia. Most survey respondents credited pet insurance with increased compliance and reduced anxiety about the cost of care, with 45% observing better medical results, and 73% believing clients with positive insurance experiences were more likely to recommend their practice to others.
Despite widespread belief in its value, only 38% of practices say they talk about pet insurance “often” or “always.” More than 80% said they were not comfortable recommending a specific insurance provider.
The report recommends that practices begin tracking the percentage of insured patients, integrate pet insurance education at puppy and kitten visits, and refer clients to licensed brokerages to comply with insurance laws.
Other key findings include:
- U.S. veterinary professionals report an average of four difficult financial conversations with clients each week.
- One-third adjust treatment plans five to 10 times weekly because of cost concerns.
- Only 1 in 5 practices reported a patient insurance rate of 10% or higher.
- Veterinary technicians are the team members most likely to bring up pet insurance to clients.