How Pet Insurance Can Help Grow Your Practice in the New Year

Pet Insurance & Your Practice

February is already winding down and typically, by the end of this month, so are the New Year’s resolutions that were made in the month of January. In an effort to maintain these resolutions and keep the enthusiasm going, we have some suggestions for how to turn your veterinary practice goals into successful action items in 2017. Writing out a list of attainable goals is the first step. If you put a little time and effort in now, the results will be rewarding.

We understand that a major concern for veterinary practices today is simply getting clients through the door. There are different steps that you can take to encourage your clients to bring in their pets such as reminder emails or calls, referral cards, etc., but financial concerns often contribute to this struggle. With the costs of veterinary care on the rise, it can be difficult for clients to afford preventative care, let alone the best treatment options in the event of an unexpected accident or illness. So, it’s in your clients’ best interest, as well as yours, to recommend pet insurance now.

According to an article from Veterinary Practice News, "Pet owners with pet insurance schedule more appointments, have five times the spending power, spend twice as much on veterinary care and are more likely to comply with recommended treatment. The result is increased business for the practice, fewer pets euthanized and happier pets and pet owners.”

Data from the North American Pet Health Insurance Association (NAPHIA) backs up this assertion. Their 2016 “NAPHIA Driving Growth of Pet Health Insurance Report” found that dog owners with insurance spent 29% more on vet bills than those without it, and cat owners with pet insurance spent a whopping 81% more. The more insured clients your practice has, the more of a positive impact you’ll see on your practices’ finances.

The benefits of pet insurance don’t have to end with coverage for accidents or illnesses. While pet parents enjoy the peace of mind that comes from knowing their pet is covered in the event of an unexpected accident or illness, we know that they often want help paying for routine care too. In fact, almost half of all Embraced pets enroll in our optional Wellness Rewards coverage. Embrace Wellness Rewards have an average 13% discount built-in to the overall cost of coverage and have no line item limitations. Partnering with a pet insurance company that offers a wellness option benefits your hospital in more ways than one. It helps increase owner compliance without the need to discount your wellness services and it saves your hospital the cost and administrative time of managing an internal wellness program.

Download our “Introducing Pet Insurance to Clients” guide for helpful tips and tricks and you will be on your way!

Volke, John. 2016 Driving Growth of Pet Health Insurance Research Report.

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Copyright 2005-2018

Pet health insurance is administered by Embrace Pet Insurance Agency, LLC and underwritten by one of the licensed insurers of American Modern Insurance Group, Inc., including American Modern Home Insurance Company d/b/a in CA as American Modern Insurance Company (Lic. No 2222-8), and American Southern Home Insurance Company. Coverage is subject to policy terms, conditions, limitations, exclusions, underwriting review, and approval, and may not be available for all risks or in all states. Rates and discounts vary, are determined by many factors, and are subject to change. Wellness Rewards is offered as a supplementary, non-insurance benefit administered by Embrace Pet Insurance Agency in the United States. © 2016 American Modern Insurance Group, Inc.