Before the pandemic hit, veterinary care was evolving. The millennial generation kickstarted a priority on pet companionship instead of having children. The priority of pets and pet care has continued to increase while most were doing well enough to support their companions financially.
It is no secret that the face of most industries changed entirely once the COVID pandemic hit the globe. However, we are still facing new and unseen challenges that do not appear to be going away soon. With rising gas, food, and basic needs inflating by record amounts, the next logical fallout we will most likely see is a post-pandemic recession or depression. Unfortunately, it is unknown at this time what that will look like or if it will happen.
Rising costs mean many will have to budget where they spend their money, and many things once considered necessary will be unattainable for many affected Americans.
What does that mean for the veterinary field? Veterinary practices will likely face more and more clients unable to pay for their pet’s care. Prudent owners and managers should start getting ready now for an increasing number of people who will ask for a payment plan or financial help. Practices should look at improved pricing strategies that give pet owners more control over their costs, offer pet insurance and third-party payment services, and consider monthly wellness plans. Additionally, think about opportunities for clients to donate funds to help others with pets in need of veterinary care.
Veterinary practices should also educate their clientele on how they can save money while caring for their pets. For example, Just Cats Veterinary Clinic posted a blog on their website which gives helpful tips to their clients on how to save money in the holiday season (https://justcatsvet.com/blog/433378-holiday-season-and-saving-money). Posting blogs and newsletters with helpful care tips to keep their pets healthy in between veterinary visits can go a long way to keep lifetime clients with healthy companions.
We are a nation unsure of what will happen next, it is best to prepare now by anticipating your clients needs so you are ready to when they most need you.
Posted on behalf of the Ethics Committee.