How veterinary business models affect access to care

How veterinary business models affect access to care

Content sponsored by CareCredit

Adam Christman, DVM, MBA: So I’d like to end my talk about access to care in general, you know, we know this is a problem that we see, not only here in this country, but all over the world as well. So, you know, what are some of the things you can… what do you do… think some solutions, if you will? You know, pet owners do everything they can to try…maybe they drive 4 or 5 hours to see a vet. That’s one thing, hence the determination of the cost of veterinary care we’re talking about. So talk to me a little bit about this.

Peter Weinstein, DVM, MBA: So when we’re talking about access to care, there are multiple aspects to it. There is physical access to care and there is access to financial care. Physically, even in some densely populated areas, there are no vets and they are easily accessible, perhaps because public transportation does not allow pets, walk too far, or whatever the case may be. So we need to try to figure out how to increase access to vets and these vet deserts, whether it’s downtown Los Angeles, or the actual desert you’re driving through, but there are a number of people from that perspective. How do we act? How do we deal with that in the future? Some of that may come back to telehealth, when it comes to it. Some may come down to mobile facilities that move and hit these different areas and pockets. You could even look at a large center that allows pets as it might be a desert vet, because they might not be able to move from that center with their pet to a vet hospital, and maybe have a vet go to the senior center and do rounds or something Such would be a great way to get there. So the physical access that is going to take some time and thinking differently to get an answer for the financial access becomes a bit of a challenge as well. We’ve seen inflation affect everything, and the cost of gasoline in Southern California, and California is alarming. But it affects the cost of veterinary care, too. What we talked about earlier, however, is the fact that 46% of pet owners were surprised there was no better way to put them on a $500 vet bill. Well, that’s 4 gas tanks in California. So how do we deal with the financial aspects of things? And can we find different business models within our practice, transverse to our practice, or synergistic with our practice, that allow us to have adequate margins of victory, but can reduce the cost of care, so that pet owners can afford basic care, perhaps allow him to Is this st saving some money for critical care and emergencies when they happen? I think we have to start looking at new and different business models that make it more affordable for everyone to afford veterinary care, and it’s not just the middle class and the upper middle class who are taxed from the cost of everything else, and now compound that as the cost of veterinary care increases. So how do we do that, I think it’s going to take some imagination, but we’ve seen it happen in human health care, where they’ve made it accessible to everyone. And I know there’s a whole different discussion about insurance. We don’t want to go to that rabbit hole. But I think we need to start looking at business models associated with veterinary hospitals that allow us to provide affordable healthcare so that there is some money left over for those times of illness, illnesses, emergencies, injuries, accidents etc.

Adam Christman, DVM, MBA: Yes, no, it’s a problem, but hopefully there are some solutions. I think what you’re talking about, just changing the model a little bit, sounds great. You know, and I know there are a lot of affordable things out there in terms of affordable vaccination clinics, and we don’t like to say low cost anymore. So maybe trying to somehow incorporate that into the model might be a solution going forward. So, excellent. Well, that was great. Thank you very much, Dr. Peter Weinstein, for being here. that’s cool.

Peter Weinstein, DVM, MBA: Thank you, Dr. Adam Christman.

Adam Christman, DVM, MBA: it is my pleasure. And thanks to our friends at Synchrony, CareCredit, and Pets Best for also being here in support of this session. This was great. Thank you very much for listening. And please stay safe out there and we hope you learned a lot today. Thanks for being here.

Peter Weinstein, DVM, MBA: Thank you.

Adam Christman, DVM, MBA: takes care.

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