Every pet deserves the best healthcare possible. Unfortunately, many pet parents are unaware and unprepared for the cost of veterinary care. They will look to your team to help them understand their options. The differences between pet wellness and insurance can be difficult to understand and even more challenging to explain. In this blog, we'll evaluate everything you need to know about pet wellness plans and how to advise your clients based on their needs.
Wellness plans are membership plans that cover all of the enrolled pet’s basic preventatives, not to be confused with pet insurance. This is the best way to help clients spread veterinary costs over time and keep clients coming back for routine care. We recommend introducing wellness plans to every client. Wellness plans cover services that every pet will need for the year to stay compliant, such as:
Wellness plans can do wonders to increase compliance. Although veterinarians typically recommend their clients bring their pets in once or twice a year, a majority of clients only come in for something absolutely necessary (vaccine requirements, emergencies). Committing to a wellness plan encourages clients to schedule regular visits. This allows you to detect any health problems earlier and ultimately provide better care to pets.
Creating a wellness plan is a big time investment but it pays off. Here are a few options:
Wellness Services: Premiere Petcare Plan and VCP both offer a hands-on service to help you decide what is right for your clients. You’ll be able to create multiple plans to best suit the needs of various breeds and ages. Once set, clients will directly pay you to enroll their pets. These services typically charge a percentage of the plan (up to 10%) or a monthly fee per policy they are managing. Either way, expect to spend roughly $50 per client who subscribes
DIY: Alternatively, you can DIY your own plan and keep the 10% margin for yourself. Be aware that this will require setting up subscription billing, creating contracts, managing e-signatures and a significant amount of overhead.
Standalone Wellness Plan: The quickest, easiest option is to recommend a standalone wellness plan. Many insurance companies offer wellness plans as an add-on. The provider manages the subscription and the client pays them directly, saving you all the overhead costs. While this may not cost you anything, be aware that there are a few downsides:
Clients will have to pay out of pocket at checkout and are required to submit claims to get reimbursed, which can be very frustrating.
There are usually limits to coverage (e.g. a maximum of $100 per year on exam fees) so clients will have to pay more in addition to the plan.
It is also important to note that these clients can use standalone wellness plans at any vet practice—so if loyalty is one of your goals, it would be best to invest in option 1 or 2.
The SnoutID Solution
Focus on pets, and SnoutID will make sure you get paid.
SnoutID is a technology company based in San Francisco exclusively serving veterinary practices and hospitals with tools to provide wellness, insurance, and financing options. Trusted by 65,000+ pet owners, SnoutID supports veterinarians and their care teams with the modern tools they need to continue providing essential services.
Reach out to our team today and let’s discuss how we can offer more options that result in healthier pets and happier clients. To learn more about, visit our website snoutid.com and book a demo.