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Top Veterinarian Payment Options when Your Patient Expires

Posted by Tom Lombardo | Tue, Jul 15, 2014 @ 10:00 AM

Veterinarians: When your customer's patient unexpectedly expires and payment by check is stopped, what do you do? Read this blog article to learn more ...


 

stop payment

 

Veterinarians face special business risks, one of which we can help mitigate:

  • Protect Your Veterinary Practice
    HOW TO MAKE SURE YOU GET PAID EVEN IF YOUR PATIENT EXPIRES…
  • People love their pets 
    According to a Stanford University study, kids growing up with pets are more confident, more outgoing, and more likely to take on leadership roles. And according to Psychology Today, a pet’s love not only makes us happier, it actually helps us think better.
  • Pets make life better. 
    If…the pet itself is healthy.
  • What’s Up Doc? 
    Which sometimes they’re not. Owners don’t take their pets to the vet nearly enough. In fact, since 2001 dog visits have slipped 21% and cat visits have dropped 30%.
  • Ooops… 
    Sometimes pet owners make care giving mistakes. For example, most pet owners believe their pet is just the right weight. But since 2006, obesity has increased 37% for dogs and 90% for cats. And arthritis is up 38% and 67% respectively.sick_dog_300
  • How did that happen? 
    Over feeding, under exercising and not going to the vet may cause a pet’s health to decline. In fact, tooth decay, cancer, and many preventable diseases are all on the rise. And 55% of owners don’t know their pet is sick until it is almost too late.
  • All the sudden… 
    Often, the first time you meet the owner is when an urgent need arises. And sadly, the first time you treat the animal is when something has already gone catastrophically wrong.
  • The Problem 
    Out of nowhere, from the owner’s perspective, her beloved friend becomes a significant unexpected expense.
  • The Cost of Treatment Can Be High
  • How much?? 
    Often, more than people expect. Enough to test the means of many American families. You can offer financing options, including a Multiple Check option which allows them to write up to four checks to be cashed over as long as a 90-day period to help them manage the cost.
  • That much. 
    You hope to avoid the “other option...” Economic euthanasia can be one of the most heartbreaking aspects of your practice. But let’s say the owner finds a way to tender payment…
  • Everything Possible. 
    …And you attempt to save the animal. With today’s tools and innovations, thankfully, you usually succeed.
  • Nothing is perfect.
    But sometimes it is too late. The American Veterinary Medical Association does not publish veterinary procedure mortality rates, and they vary by wide margins. Still, every time it happens, it is a tragedy.
  • Enough. 
    From a business perspective, the death of a pet during or after an expensive procedure can become a payment nightmare. The heartbreak is bad enough…
  • Too Much. 
    … but a threat to your business is unacceptable. Distraught owners sometimes make bad decisions. For example, they might put a “stop payment” on one or more of the checks they wrote you for treatment.
  • Now What? 
    If you didn’t prepare in advance you have an unpleasant problem. The last thing you want to deal with is chasing payment for a procedure that didn’t work. But someone on your staff has to deal with it, or you lose the cost of the treatment.
  • Do I have to? 
    Is that what you want your staff doing? Of course not. Staff should build revenue, not chase it.
  • Instead, Prepare. 
    Protect yourself. People make mistakes. They make bad decisions. Especially when they are emotional. Eliminate this risk with a Stop Payment option from your check processing company.
  • We’ve Got You Covered. 
  • That way, if an approved check is stopped, you get paid anyway. Limits vary, but they can be in excess of the cost of most common procedures.
 

Topics: Veterinarians

Written by Tom Lombardo