Animal Health Solutions

22 Covetrus | ph: 855.724.3461 | fx: 888.329.3861 | northamerica.covetrus.com What will your wellness plans look like? Do all these benefits sound good to you? Let's look at what you'll need to consider and how you might go about implementing wellness plans in your practice. When you decide to offer wellness plans, take your time with planning. Think about your customer and pet segments and the kinds of services they need. There is no one solution, as every practice has its own customer base, priorities and mission. Be sure your wellness plans are designed to both cater to your patient population and help promote your practice's pet-care philosophy. After all, one of the greatest benefits of a well-designed wellness plan program is that it allows you to practice medicine the way you want to and uphold your care standards. Once you've thought about which pets make up most of your patient population, decide how many plans you'll offer for each pet segment and stage of life. Today's practice management software, with integrated wellness plan programs, makes it easier to bundle services for multiple plans, as well as track and bill for services during the plan year. Still, it's best to keep the plans simple at the start, so that your staff can get comfortable with all aspects of wellness plans and discussing them with clients. You can always scale up later, once your plans are more established and you've learned what's working and what is not. A more affordable option for pet owners The main benefit of wellness plans for pet owners—other than keeping their pets in good health—is that they ease the financial strain of pet care. "Wellness plans are a good way for clients to manage affordability of pet care and treatment at all times," says Dr. Karen E. Felsted, CPA, MS, CVPM, CVA, "but especially when there are economic challenges. Being able to pay over time, instead of having to make a large one-time payment, is a huge benefit when times are tough." At no time has this been more apparent than during the current human health crisis. It's much easier for pet owners to budget a $30-$50 per month payment than to come up with $300-$500 all at once. In fact, many pet owners are likely to refuse or delay treatment when faced with a large expense. Wellness plans allow for financial budgeting and planning, and they allow pet owners the satisfaction of being able to provide their pets with the care they need. A steady income for practices Wellness plans, because of their monthly payment design, not only spread out pet owner costs, but also create a steadier stream of practice income for preventive care services. While it's possible that your clinic will see a slight dip in revenue when plans begin—due to the reduction in service costs paid all at once—this is made up for by spreading income out over the year. Months that have traditionally been slower can now see an uptick in revenue. Wellness plans do more for a practice's bottom line than that, though. According to John Volk in his article Everything you ever wanted to know about wellness plans, clients who opt into wellness plans spend 57 percent—or $300—more per year than those who aren't enrolled. Clients with wellness plans feel more in control of their spending, come in more often, and become more loyal to your practice—all of which makes them more likely to buy from you during their visit than to go to their local pet shop or order products online. Wellness plans can also help your practice stand out from any local competition who may not be offering them. When pet owners are weighing the benefits of each practice, wellness plans that allow them to pay over time could well tip the balance in your favor. Particularly for your millennial clients and the emerging Gen-Z customer segment, subscription services and monthly payments for many things— from food clubs to clothing and gym memberships—are expected ways of doing business now. It's much easier for pet owners to budget a $30-$50 per month payment than to come up with $300-$500 all at once. In fact, many pet owners are likely to refuse or delay treatment when faced with a large expense. Wellness plans allow for financial budgeting and planning, and they allow pet owners the satisfaction of being able to provide their pets with the care they need.

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