Bridging the communication gaps between general practice and specialty veterinary teams and educating clients on veterinary specialty care are central insights yielded from a recent study.
The “Veterinary Specialty Care Study,” conducted by Synchrony for CareCredit, seeks to understand the dynamics between pet owners, primary veterinarians, and veterinary specialists, with a focus on improving the experience from financial, informational, and communication standpoints.
“Nearly 50 percent of today’s pet parents underestimate the cost of pet care, and unexpected emergency care plays a big role in this miscalculation,” says Jonathan Wainberg, senior vice president and general manager, Pet, Synchrony. “This new report reveals the critical need for proactive communication about the cost of specialty care,” he adds, noting how information about payment options to manage the costs should be part of client education.
Key findings reveal:
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- 72 percent of pet parents responded they are as very/extremely concerned about the financial implications of the cost of their pet’s specialty care as they are the potential outcome.
- Half of the respondents would be stressed by a specialty care bill of less than $1,000, and 81 percent would be stressed by a bill of less than $2,500.
- Only 25 percent of veterinary specialists believe pet parents have realistic expectations about the cost of care.
- 54 percent of pet parents surveyed admit to having little to no knowledge about specialty care in general.
- 63 percent of pet parents surveyed want to know about payment options early
“Both specialty and primary care veterinarians have witnessed the stress pet parents have about the cost of care and the anxiety of balancing their financial realities with their pet’s medical needs,” says Amanda L. Donnelly, DVM, MBA. “This stress is doubled when their pet needs specialized care because they may not have previous knowledge of what a specialist is and costs are likely the first concern that jumps into their mind.”
For more information on the findings, check out the “Veterinary Specialty Care: A Synchrony Lifetime of Care Study” webpage.