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Veterinarians like to give discounts to clients for all kinds of reasons. Maybe one of
their favorite patients that is owned by a 4-H kid from a family of limited means has
sustained an injury that will be expensive to treat. Or perhaps, despite best efforts,
a case has a bad outcome.
Whatever the basis for reducing fees, discounting is generally a bad idea for the
health of a veterinary business. Discounts come directly from profit and erode a
practice's earnings and value, said Amy L. Grice, VMD, MBA, owner of Veterinary
Business Consulting.
Don't devalue your service
When a veterinarian reduces fees, he/she is signaling that the value of the service
provided is over-priced at the normal rate, explained Grice.
"Discounting decreases the perceived value of the service, regardless of the reason,"
Grice stated. "Even worse, it creates an expectation of future discounts, both with that
particular client and with all the other clients in the local equine community who hear
about the doctor's generosity."
Grice and other veterinarians have recommended a solution for this problem, especially
for associates. Practice owners can budget a certain amount each year for each doctor
to use for discounts. This "discount account" can be used all at once on one case or in
small increments, noted Grice.
"This can support a veterinarian's emotional health by recognizing the need to make
a difference for a special case from time to time," she stated.
HARNESSING PRACTICE HEALTH
"I've always believed that discounting drives back to guilt that
the fees are too high in the first place, and that's a mindset that
has to be overcome," said Kyle Palmer, CVT, in a 2021 Covetrus
®
roundtable discussion of equine veterinary medicine professionals.
"It's important to understand that what we're charging is fair; it's
reasonable; it represents the value that I bring as a practitioner."
Palmer manages VCA Salem Animal Hospital in Oregon, and
during his 29 years in the veterinary field has managed mixed
equine and companion animal practices.
Provide Value,
Not Discounts
By Kimberly S. Brown
