This column is brought to you by AAEP Educational Partner CareCredit, a Synchrony Solution.

Ask the Financial Expert

How Can I Navigate Cost Concerns with Different Kinds of Clients?

By Amy L. Grice, VMD, MBA

No one has to tell you that cost conversations can be a challenge in equine practice, especially when you’re dealing with a diverse client base. Each horse owner brings their own set of financial considerations and expectations into the discussion, and you must weigh these alongside the horse’s care—as well as your practice’s financial health.

Let’s look at several client personalities you may be familiar with, along with practical strategies for handling cost discussions effectively. No matter what type of client you’re dealing with, understanding their unique perspective can help you build trust.

THE COST-CONSCIOUS CLIENT
When you recommend a treatment plan for this client, they hesitate due to cost. Instead of offering a discount, explore an alternative course of action. Perhaps you can pursue fewer diagnostics or treatment components and still expect a good outcome for the horse. Or, if you accept the CareCredit health and animal care credit card, you can let your clients know this financing solution lets them spread payments out in a budget-friendly way to help them accept your full plan now.

THE INFORMATION SEEKER
This client always does their due diligence. They’ve conducted lots of research and may come to you with preconceived ideas about diagnosis and treatment. They may ask numerous questions, state objections, want to know about each step of treatment and question the cost. Recognize this client’s need to know and calmly and clearly explain the “why” behind your recommendations, along with the benefits to their horse and flexible ways to pay for care.

THE DEAL DIVA
This horse owner hunts for the lowest prices relentlessly, even when they can afford full price. Congratulate this client for being a smart consumer while emphasizing the unmatched quality of care your team provides, explaining how these services are an investment in their horse’s health and longevity.

THE COMPASSIONATE CAREGIVER
Then there’s that community nonprofit you’d really like to support, or a 4-H kid from a family of limited means. Most equine veterinarians want to help in these situations—but there’s no need to work for free. For cases of philanthropy or genuine hardship, set aside a certain amount in your budget each year. You can use this fund all at once or gradually throughout the year. This way you can still make a difference for special cases when you feel moved to—without jeopardizing your financial health.

Navigating cost concerns takes clear communication and confidence. If you have a plan in place ahead of time, you’ll have the right tools to address each client. This helps ensure happy clients, healthy patients and a thriving practice.

To discover more about how veterinary financing can help you, your patients, your clients and your practice, visit CareCredit’s Equine Insights page.

Disclaimer from sponsor: This content is subject to change without notice and is offered for informational use only. Synchrony and its affiliates, including CareCredit, make no representations or warranties regarding the content. You are urged to consult with your individual advisors with respect to any information presented.