I recently attended an enlightening Cornell VBE Spark Talk by Aimee St. Arnaud that addressed one of veterinary medicine’s most pressing challenges: the rising cost of care. The statistics are sobering – veterinary costs have jumped 38.6% in just five years, far outpacing general inflation. This increase affects everyone, especially millennials, who comprise our largest pet-owning demographic.
What struck me most was how this financial pressure creates a perfect storm of stress for everyone involved. Veterinary teams face moral distress when they have the skills to help but are constrained by clients’ financial limitations. Clients increasingly view their pets as family members and struggle with guilt when they can’t afford optimal care. And our beloved pets? They sometimes receive delayed care or miss preventive treatments entirely.
However, St. Arnaud shared some promising solutions. I was particularly impressed by Lake Road Animal Hospital’s success story – they increased dental revenue by 30% simply by offering flexible payment options alongside treatment estimates. This approach truly demonstrates how addressing financial barriers can benefit everyone involved.
The heart of St. Arnaud’s approach is what she calls the “Financial Triage Framework.” It’s a practical system that categorizes clients into three groups: green (can pay upfront), yellow (need payment options), and red (cannot pay through traditional means). This classification allows practices to quickly offer appropriate solutions, from third-party payment options like Care Credit and Verity to in-house “stay together” funds for extreme cases.
What makes this approach particularly effective is its comprehensive nature. Success requires training staff to handle financial conversations with empathy and professionalism, removing the stigma around money discussions, and maintaining transparent pricing. I appreciate how St. Arnaud emphasized the importance of communicating payment options before they’re needed – a proactive rather than reactive approach.
The benefits are clear and multi-faceted. Practices see better patient outcomes and increased revenue from previously declined services. Staff experience less stress around financial conversations. Clients feel more understood and supported. Most importantly, pets receive more timely and appropriate care.
This framework isn’t just about managing costs – it’s about creating a more sustainable and compassionate veterinary practice model that serves everyone’s needs. As someone deeply involved in veterinary medicine relationships, I believe implementing these strategies can significantly improve how we approach cost-of-care conversations, ultimately leading to better outcomes for all involved.*
*If you need help learning these skills, HLM provides training in all areas of communication on these complex topics.
