WEBINAR: New and Improved Pricing Strategies, Part 2
Tuesday, March 23, 2021 at 1:00 pm
Presented in partnership with the Veterinary Medical Association Executives (VMAE).
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.
- 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, 2020, 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?
Part 2 - Tuesday, March 23, 2020, 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?
Speaker: Karen E. Felsted, CPA, MS, DVM, CVPM, CVA