AVMA offers financial guidance for clinics during COVID-19

Veterinary clinics can use several strategies to stay afloat financially during the coronavirus pandemic. The AVMA offers resources on its website, including what the organization calls the “3 C’s”: cash flow, communication, and the CARES Act.

Cash flow

While many pet owners are staying at home rather than visiting the vet, clinics can still offer some services that might appeal. Telemedicine has become popular. Other possibilities include curbside veterinary care, online ordering and home delivery, and alternative payment plans to help struggling clients.

On the flipside, many clinics will have to take steps to limit their spending and plan for a tight future. Practice managers should know their financial break-even point, manage inventory to save money, and develop “worst-case scenario” strategies, the AVMA says.

Communication

Continued communication with clients and team members is vital right now. The AVMA has client resources like flyers and social media infographics. Since so many pet owners will be struggling financially, it can help to let them know about alternative ways to pay for services.

Now is also an anxiety-ridden time for veterinary team members. Listening to those team members and hearing their concerns is vital now, the AVMA says.

CARES Act

Congress has already passed two relief packages, including the CARES Act. These laws include tax provisions, loans, unemployment insurance and other resources that clinic leaders can use.

The AVMA also has guidance to help veterinarians determine when a given procedure is urgent and when it can be delayed.