Ask Katie: So, wellness plans well?
Katie Adams, CVPM, is owner and management consultant at Agrygation Consulting.
Give it to me straight, says one reader to our CVPM advice guru: Are veterinary wellness plans worth the time?
Q: Our practice is considering offering a wellness plan to our clients. Do you think they're worth the time they take to administer?
A: Wellness plans are definitely “a thing” right now, but I believe it's with good reason. Banfield was way ahead of their time when they offered these packages to clients, and here's why: Clients want to be able to accept your recommendations for care- otherwise, why would they bother coming to the vet in the first place?
The hurdle for most clients is the cost. As an industry, we generally respond to that hurdle by lowering or discounting our prices. What Banfield did was genius. They took all of their recommended services, added up the price (not discounted) and divided it by 12! Now, the client simply pays an affordable monthly fee and they feel good (value!) that they're able to follow the doctor's recommendations and care for their pet.
So yes, I think they're worth the administration time. However, if you're going to offer more than five variations on your wellness plans, I would go with a third-party company like Veterinary Credit Plans to manage it for you.
Katie Adams, CVPM, is director of Curriculum Development at IGNITE Veterinary Solutions. Got a question for Katie? Email us at email@example.com.