New and Improved Pricing Strategies
Clients have been pushing back against the cost of veterinary care for years. We all know that some of this is unreasonable but constantly increasing prices without offering more value also doesn’t work. We’re at a point where we need to think about more sophisticated pricing strategies, what really adds value to the veterinary experience in pet owners’ minds as well as different models of veterinary care delivery for different kinds of clients.
Implementing a pricing strategy isn’t just about deciding what percentage to use to increase fees. Pricing is a marketing issue and is just one component of the traditional 4 “P’s” of the marketing mix: place, promotion, product, and price, all of which must be considered in price determination.
Although few practices will completely revamp all of their prices at a single time, increased understanding of pricing strategies can help practices improve what they are doing.
Objectives:
- Review pricing strategies most commonly used in practices and where improvement is needed
- Identify the metrics a practice needs to review to determine if pricing strategy changes are needed in the practice
- Understand the components of an effective pricing framework
- Explore new pricing strategies that could be used in your practice
- Learn how to assess the successfulness of any pricing changes
Part 1 - Tuesday, January 26, 2021, 1:00 - 2:00 pm ET
What does the research tell us about pricing in veterinary medicine?
Should you rethink your pricing strategy?
How can you tell?
Recorded Event Link
Part 2 - Tuesday, March 23, 2021, 1:00 - 2:00 pm ET
What are the components of an effective pricing decision framework?
How does the cost of providing care fit into price-setting?
How does the concept of value fit into price setting?
Recorded Event Link
Part 3 - Tuesday, May 25, 2021, 1:00 - 2:00 pm ET
What are some new pricing strategies that make it easier for pet owners to say yes to more and better care?
How do you implement them?
Recorded Event Link
The webinars are available free of charge to members of the VHMA and veterinary medical associations!
The VHMA will issue a one (1) hour continuing education certificate to attendee for each session attended.