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Germany 20th October 2023
How much does a pet health plan increase revenue?
Whether you’re looking for improved monthly cashflow, increased in-practice spending or just a way to enhance patient care, a pet health plan could be the solution. In addition to convenience for clients and better healthcare for patients, over 2300 practices are now benefiting from the increased revenue generated by our pet health plans.
But with vet practices busier than ever, is the effort of setting one up (or switching your current plan) really worth it? With the impact of not offering an effective pet health plan estimated to be as much as £15,000* for an average two vet practice, the data suggests it is.
“From a business perspective, it is a simple decision, our monthly revenue increased by five times.”
Liz La-Page, Practice Manager, Elands Veterinary Clinic, Sevenoaks
How do pet health plans bring in that extra income?
- Guaranteed monthly income
The regular monthly revenue from a pet health plan can be substantial, contributing not only to monthly cashflow but to your practice’s overall income. Pet health plans typically offer an overall discount to clients for the range of products and services they receive, like regular parasite treatment; however, by boosting owner uptake and compliance, they result in a substantial net increase in practice income.
The improved uptake of parasite products through pet health plans has the dual benefit of enhancing patients’ preventative healthcare and encouraging clients to source parasite treatments from their veterinary practice. With upcoming changes to RCVS guidelines, this is more important than ever, and veterinary practices may lose out in future if clients look for more convenient options elsewhere.
- Improved detection of health concerns
In addition to enhancing uptake of preventative healthcare, pet health plans serve an arguably even more important purpose for pets’ health: ensuring regular check-ups. Seeing patients for regular health checks allows vets to pick up on underlying health issues like dental disease, heart problems, arthritis and hormonal conditions.
Owners rarely bring their pets to the vet for a specific appointment to discuss these chronic issues, and are often unaware either that their pet suffers from them, or that treatment is an option. Regular health checks offer an unparalleled opportunity to improve pets’ wellbeing by offering owners the diagnostics and treatments their pets need. By significantly improving uptake of things like dental procedures, mass removals and long-term medical treatments, this has the added benefit of substantially increasing practice revenue.
For many conditions flagged at routine check-ups – like suspicious masses, heart disease or hyperthyroidism, for example – early diagnosis and treatment can significantly extend pets’ lifespans, which is a win for practices, pets, and owners alike!
- Increased client loyalty
Pet health plans can also enhance client trust and satisfaction by offering convenience, good value and a more established relationship with the practice. Loyal pet health plan clients not only visit the practice more regularly, but are more likely to spend on products while there. Spending on products like pet foods, dental products and pet accessories are all likely to increase.
“Just over half of our active clients have signed up to Premier Pet Care Plan, helping us to increase business by 12% and food sales by 25% in their first year with the Pet Health Plan.”
Cootes Veterinary Clinic, West Sussex
- New clients
From music and films to beauty products and food, subscription services are more popular than ever, and this is reflected in the veterinary sector too. Just as practices value a fixed monthly income, clients value being able to budget for a fixed monthly cost – especially when it represents good value for money. The convenience of regular products and services combined with an easy-to-use reminder system is also hugely appealing in today’s busy environment.
Practices increasingly advertise their pet health plans to attract new subscribers, not just from within their client pool but in the form of new clients. Offering an easy-to-use pet health plan subscription that clearly outlines the value it offers can be a great way of boosting your client list and practice income.
It’s clear that pet health plans can boost your practice’s revenue, but why pick Premier Vet Alliance? At PVA we generate a customised practice plan that’s tailored to you, with expert advice to help you maximise its benefits. You don’t have to just take our word for it – check out some of our reviews below.
“Within just 20 months of switching to Premier Pet Care Plan, we achieved 177% growth to 525 pets signed up.”
Liz La-Page, Practice Manager, Elands Veterinary Clinic, Sevenoaks
“I ran a Health Plan for many years across two busy practices, with little success. Premier Vet Alliance came in and boosted the number of pets on plan by five times in three years! I am delighted with the performance and their commitment to working with me.”
Sarah Solomon, Owner, Heath Vets, Sussex
“Premier Vet Alliance worked with us to design and launch our new Pet Health Plan and we doubled our membership within the first year.”
Gill Tansey, Practice Manager, Aireworth Vets
“It’s great for us, plus best for the pet, and I have noticed a steady increase in sales, indicating that pets are more likely to get year-round protection when the products are pre-paid. That’s what I call win-win-win!”
Dr J Mewes MRCVS, The Mewes Vets Ltd
*Data provided by South East Vet, on avg two vet practice
