Many veterinary clients are worried about finances but won’t ever say so directly. There are a number of reasons for this, but just a few include embarrassment or shame over their financial situation; having too much pride to ask for help; and fear of being judged as an irresponsible pet parent if they admit they have a limited budget.
In-house veterinary payment plans of the past had a bad reputation. Vet clinics hated to offer them, they were burdensome to manage, and clients frequently didn’t keep up with payments. Third-party credit products took their place and now most vets rely on these products to help clients manage costs. But with 60% of pet owners unable to qualify for credit and few financial alternatives, in-house payment plans – revamped for the 21st century – may be making a comeback.
When you love your pet but financial resources are limited, a veterinary emergency can lead to hours of desperate efforts to raise money and find a veterinarian that is willing to take the case on. This is just one family’s story. There are thousands of other families that have been in a similar predicament, whose stories will never be heard.
When clients are declined for CareCredit, Scratchpay, or other third-party financing products, it’s usually assumed that they must be a “bad credit risk.” But did you know that someone can actually have an excellent credit score and still be declined for a new line of credit? Find out why these clients may still be excellent candidates for in-house payment plans.
It is easy to say, “if you can’t afford a pet you shouldn’t have one.” But it just isn’t that simple. There are many animals who are deeply loved by their families, but that family’s inability to afford veterinary treatment – especially emergency or surgical treatment — doesn’t necessarily indicate a lack of love or attentive care. Nor does it imply that they are a “bad,” irresponsible or neglectful pet owner.