• Hero Banner
  • ACVCACVC
  • DVM 360
  • Fetch DVM 360Fetch DVM 360
DVM 360
dvm360 | Veterinary News, Veterinarian Insights, Medicine, Pet Care
dvm360 | Veterinary News, Veterinarian Insights, Medicine, Pet Care
By Role
AssociatesOwnersPractice ManagerStudentsTechnicians
Subscriptions
dvm360 Newsletterdvm360 Magazine
News
All News
Association
Breaking News
Education
Equine
FDA
Law & Ethics
Market Trends
Medical
Products
Recalls
Regulatory
Digital Media
dvm360 LIVE!™
Expert Interviews
The Vet Blast Podcast
Medical World News
Pet Connections
The Dilemma Live
Vet Perspectives™
Weekly Newscast
dvm360 Insights™
Publications
All Publications
dvm360
Firstline
Supplements
Top Recommended Veterinary Products
Vetted
Clinical
All Clinical
Anesthesia
Animal Welfare
Behavior
Cardiology
CBD in Pets
Dentistry
Dermatology
Diabetes
Emergency & Critical Care
Endocrinology
Equine Medicine
Exotic Animal Medicine
Feline Medicine
Gastroenterology
Imaging
Infectious Diseases
Integrative Medicine
Nutrition
Oncology
Ophthalmology
Orthopedics
Pain Management
Parasitology
Pharmacy
Surgery
Toxicology
Urology & Nephrology
Virtual Care
Business
All Business
Business & Personal Finance
Buying or Selling a Practice
Hospital Design
Leadership & Personal Growth
Personnel Management
Practice Finances
Practice Operations
Technology
Wellbeing & Lifestyle
Continuing Education
Conferences
Live Conferences
Conference News
Conference Proceedings
Resources
CBD in Pets
Contests
Veterinary Heroes
Partners
Spotlight Series
Team Meeting in a Box
Toolkit
Top Recommended Veterinary Products
Vet to Vet
  • Contact Us
  • Fetch DVM360 Conference
  • Terms and Conditions
  • Privacy
  • Do Not Sell My Information
  • About Us

© 2023 MJH Life Sciences and dvm360 | Veterinary News, Veterinarian Insights, Medicine, Pet Care. All rights reserved.

Advertisement
By Role
  • Associates
  • Owners
  • Practice Manager
  • Students
  • Technicians
Subscriptions
  • dvm360 Newsletter
  • dvm360 Magazine
  • Contact Us
  • Fetch DVM360 Conference
  • Terms and Conditions
  • Privacy
  • Do Not Sell My Information
  • About Us
  • MJHLS Brand Logo

© 2023 MJH Life Sciences™ and dvm360 | Veterinary News, Veterinarian Insights, Medicine, Pet Care. All rights reserved.

Debunk these 3 myths about third-party payment plans

January 1, 2011
Lorraine Monheiser List, CPA, CVA, MEd

Clear up the confusion about this oft-misunderstood resource to help your clients pay for services.

You've probably experienced this scenario in your veterinary practice: A client's dog needs an expensive surgery, but she's not sure how she'll pay for it. She doesn't have pet insurance or the necessary cash. You offer her information about third-party payment plans, but she's reluctant. She goes home to think about it, and you wonder if you'll ever hear from her again.

Everyone's managing their budget more carefully, and that includes your clients. But instead of running from third-party payment plans, clients could be embracing them. Here are the three biggest myths about these plans—and what you can do to debunk them.

Advertisement

Myth 1: It's a hassle to sign up. Assuming the procedure isn't an emergency, clients don't have to sign up in your clinic. Most third-party lenders will let clients apply online after they've had a chance to weigh their options. Or, if they'd rather have your help, you can offer to complete the application with them.

Myth 2: I'll be charged exorbitant interest fees. Clients pay interest with a regular credit card, but that's not always the case with a veterinary-specific card. Many cards offer a few months of interest-free payments—a perk that can help them pay for expensive procedures without racking up even more debt.

Myth 3: The plan probably won't cover the services my pet needs anyway. Different plans offer different types of credit, so clients should study the fine print and determine what will work best for their pet's needs. The plans exist to help clients pay for the care their animals need, so most clients who apply find them beneficial, says Lorraine Monheiser List, CPA, owner of Summit Veterinary Advisors in Littleton, Colo.

It's never easy for clients to hear that their pet needs thousands of dollars worth of veterinary services, but helping clients understand their financial options can lift some of the weight off their shoulders. That's the first step to helping your patients get the care they need.

Related Content:

BusinessClient Relations & Marketing
CityVet names new chief strategy officer
CityVet names new chief strategy officer
Hannah Pet Hospital names new CEO
Hannah Pet Hospital names new CEO
CityVet Celina opens in Prosper, Texas
CityVet Celina opens in Prosper, Texas

Advertisement

Latest News

This week on dvm360.com: dvm360® continues to celebrate Pride Month, and other veterinary news

3 must-sees on creating an inclusive work culture

CityVet names new chief strategy officer

Workplace bottlenecks in the LGBTQIA+ community

View More Latest News
Advertisement