As more veterinarians began using third-party consumer credit financing to help clients manage large veterinary expenses, in-house payment plans fell out of favor – and not without good reason.
20 years later, with both pet owners and the veterinary profession facing unprecedented financial challenges, it may be time to look at how in-house payment plans have changed, and how in their current format, they can actually help the business of veterinary medicine.
What if, starting tomorrow, state law barred you from offering CareCredit® at your practice? Do you have another payment option available for your clients?
You might be saying “What? Why wouldn’t I be able to offer CareCredit®? That would never happen!”
But it actually could.
“…[when pet] owners can’t afford to do all the diagnostics and treatment that would be the gold standard, euthanasia is the only option.”
This is a quote from a veterinarian in an article we recently read. But it’s something we’ve heard many times before. Too many times to count, in fact. And it’s a statement with which we STRONGLY DISAGREE.
You can educate about the value of veterinary services all day long, but if you are not also offering flexible options for payment, pet owners will continue to stay away from your veterinary hospital because they perceive that the cost burden is too great.