{"id":23854,"date":"2023-06-01T00:00:21","date_gmt":"2023-06-01T00:00:21","guid":{"rendered":"https:\/\/todaysveterinarybusiness.com\/?p=23854"},"modified":"2023-06-01T14:33:47","modified_gmt":"2023-06-01T14:33:47","slug":"curing-cost-confusion-0623","status":"publish","type":"post","link":"https:\/\/navc.sitepreview.app\/todaysveterinarybusiness.com\/curing-cost-confusion-0623\/","title":{"rendered":"Curing Cost Confusion"},"content":{"rendered":"

While reports of inflation\u2019s impact have focused on the skyrocketing costs of food, housing and fuel, pet owners have even more to worry about when it comes to balancing their budgets. Overall veterinary prices are rising dramatically due to medical advances and the rising costs of labor, drugs, supplies and diagnostics. In fact, the mean annual cost for a dog\u2019s veterinary visit has jumped by more than 60% in two years, from $224 to $362.<\/p>\n

And pet owners are starting to feel it. In a recent survey, more than 75% of those questioned said inflation has increased their costs to keep their pets well, while 26% said they were struggling to pay for their pets\u2019 care, forgoing or delaying treatments that are proactive or elective.<\/p>\n

While veterinarians have effective techniques to help manage their patients\u2019 stress and fear, it\u2019s becoming apparent they need proven skills to address their clients\u2019 anxiety around the affordability of pet care. To that end, Synchrony Pet worked with the American Veterinary Medical Association to develop the \u201cLanguage of Veterinary Care\u201d guide to help veterinarians and practice teams become comfortable with and confident in having cost conversations with pet owners and build healthy financial relationships with them. In short, words matter, and there\u2019s often a disconnect between what is said and heard.<\/p>\n

Through a series of in-depth interviews with veterinarians, veterinary technicians and pet owners, the AVMA explored the words veterinarians and technicians use to talk about costs. What followed was the development of a set of guidelines to help practice teams better speak \u201cpet owner\u201d \u2014 the right language, framing and tone.<\/p>\n

Here are some of the highlights.<\/p>\n

Try for More Transparency<\/strong><\/h3>\n

The main frustration for pet owners around cost goes beyond the price tag. They want more than a list of procedures and the associated cost on an estimate. They also want a dialogue about what they\u2019re paying for, why the veterinarian recommends it and the medical value for their pet. Walking clients through a personalized care plan and breaking down the costs incurred at each stage can go a long way in helping them feel that you are working with them to ensure every dollar spent is worthwhile and necessary.<\/p>\n

Additionally, having proactive and positive conversations through each stage of a pet\u2019s life can help clients be financially prepared to manage the costs. Resources such as Synchrony\u2019s\u00a0 Lifetime of Care Study can support those critical conversations and allow pet owners to better budget for long-term care.<\/p>\n

Tread Carefully When Talking About New Medical Advancements<\/strong><\/h3>\n

According to pet owners, emphasizing the veterinary industry\u2019s incredible advances does not speak to their situation. Rather than using terms like \u201cbest equipment\u201d or \u201cstate-of-the-art technology\u201d to justify increased costs, it\u2019s important to give pet owners the confidence that they\u2019re paying only for what they need. Instead, explain the intention behind the path of care you are taking for a pet, making clear that the cost is a necessary part of the equation to get to the best health outcome. If you demonstrate compassion by reassuring clients that you are carefully balancing care and cost, based on the pets\u2019 specific needs, you\u2019ll feel more like you are collaborating with the owners.<\/p>\n

Beware the Menu of Options<\/strong><\/h3>\n

While veterinarians have the best intentions when offering spectrum-of-care choices, avoid framing the multiple care paths based on cost so as to be sensitive to different pet owners\u2019 budgets and financial priorities. Clients hear: \u201cPlatinum, gold or silver<\/a> \u2014 how good of a pet parent are you?\u201d In their minds, that can sound like veterinarians equate the highest price tag with the best care, which might not be something they can afford in the moment. They want to know that regardless of which care path they choose, the veterinarian is working to find a solution that\u2019s right for them and their pets. Options do, however, serve an important secondary role for pet owners expressing concerns about the cost of a recommended treatment. One pet owner concurred: \u201cI like them calling out other things they can do. The little details remind me they are thinking about my situation.\u201d<\/p>\n

Communicate a Range of Payment Solutions<\/strong><\/h3>\n

Knowing that clients are often concerned about costs, sharing spectrum-of-payment options your hospital provides can help pet owners feel more financial flexibility than they might imagine. This includes easy access to financing and pet health insurance. Such solutions can give pet owners the peace of mind that they can fit the care their pets need into their budgets, even during times of financial uncertainty. When veterinarians proactively provide solutions, pet owners say it reinforces veterinarians as caring partners in their pets\u2019 health. In their mind, they hear: \u201cWe can figure this out together. We\u2019re in this for the long haul.\u201d<\/p>\n

Say \u201cBudget\u201d Instead of \u201cCost\u201d<\/strong><\/h3>\n

Some veterinarians indicated they avoid bringing up costs altogether to avoid coming off as \u201cselling\u201d the client or even penny-pinching. One helpful approach could be for a veterinarian to focus on the pet owner\u2019s budget, not just the treatment\u2019s costs, which can instill confidence in the veterinarian and signal a helpful, client-focused approach. The research showed that this helped clients prioritize what was in their pets\u2019 best interest and communicated that their veterinarians were \u201cin it with them.\u201d<\/p>\n

The good news is, the research showed pet owners across the board have good relationships with their veterinarians, value their expertise, and appreciate all they do for the health of their pets. A subtle and effective reframing around the cost conversation can help give both parties more comfort and ensure the best possible health outcomes for the pets in their care.<\/p>\n

\n

RESOURCES<\/strong><\/span><\/h3>\n

For details about the \u201cLanguage of Veterinary Care,\u201d visit bit.ly\/3nPzNGS<\/a>. To read more about the Lifetime of Care study, go to petlifetimeofcare.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The \u201cLanguage of Veterinary Care\u201d guide can help veterinarians become more confident in having cost conversations with pet owners.<\/p>\n","protected":false},"author":441,"featured_media":23855,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"iawp_total_views":0,"footnotes":""},"categories":[406],"tags":[],"class_list":["post-23854","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-june-july-2023","column-viewpoints","clinical_topics-letters-to-the-editor","clinical_topics-patient-care"],"acf":{"hide_sidebar":false,"hide_sidebar_ad":false,"hide_all_ads":false},"yoast_head":"\nCuring Cost Confusion | Today's Veterinary Business<\/title>\n<meta name=\"description\" content=\"The \u201cLanguage of Veterinary Care\u201d guide can help veterinarians become more confident in having cost conversations with pet owners.\" \/>\n<meta name=\"robots\" content=\"noindex, 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