The Veterinary Hospital Managers Association (VHMA), the leading professional group for veterinary managers, announced that it has published a white paper that explores VALUE-BASED Pricing in the veterinary industry. The paper was developed to help veterinary managers better understand strategic pricing. It leverages the discussions, actions and recommendations of its 2018 pioneering conference, The VHMA Critical Issues Summit: VALUE-BASED Strategic Pricing, to provide managers with vital insights into pricing.
The 2018 summit, facilitated Utpal Dholakia, Ph.D., Rice University professor of marketing and an authority on motivational psychology, consumer behavior and marketing, brought together more than 40 of the industry’s most influential and experienced professionals.
Over a day and a half, attendees participated in presentations, breakout sessions, brainstorming, and discussions that focused on pricing veterinary services. Professor Dholakia’s extensive pricing research served as the foundation for the group’s activities.
The white paper introduces and details the core concepts, frameworks, and tools for pricing strategically in the veterinary services industry. The ideas, experiences, recommendations, and conclusions about strategic pricing generated by the veterinary industry thought-leaders are contained in the publication.
The white paper offers a smart analysis of current pricing approaches, an overview of the downside of current strategies and illustrations of the utility of VALUE-BASED pricing. Also included is a historical analysis, current pricing review and a discussion of the future of pricing and highlights these topics:
- The importance of strategic pricing in the industry
- The current state of pricing
- The role of costs in a veterinary practice’s pricing strategy
- An explanation of the importance of customer value and veterinary services
- Customer focus and value propositions
- Developing a pricing structure
- Ways to improve pricing in veterinary practices
- The steps involved in conducting a pricing audit
“The VHMA is confident that the insights and expertise contributed by the illustrious group of industry leaders who co-authored this paper will further the understanding of veterinary managers who are interested in understanding pricing and implementing VALUE-BASED Pricing. We are thrilled to offer this groundbreaking report to move the pricing conversation forward,” said VHMA Executive Director Christine Shupe, CAE.
The white paper can be downloaded free.
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