The Rising Costs of Veterinary Care: Challenges and Solutions
The veterinary industry is facing a significant challenge: the escalating cost of pet healthcare. This rise in expenses is making essential veterinary services increasingly inaccessible for many pet owners. It’s a reality veterinary teams witness daily, as families grapple with difficult financial decisions, delay or forgo necessary care, or seek alternatives outside of traditional veterinary models. To ensure pets receive the care they need, a deeper understanding of the barriers pet owners face and the changing landscape of veterinary medicine is crucial.
The issue isn’t solely about affordability. It also encompasses factors like the availability, flexibility, and trustworthiness of a system that must adapt to meet the needs of pet owners. How can veterinary professionals and the broader industry collaborate to establish a pet care model that is both inclusive and adaptable?
Understanding the Factors Driving Up Costs
To address this problem, we must first examine the forces behind the increasing costs of veterinary care. Over the past two decades, veterinary service inflation has outpaced general inflation by more than 60% in the consumer price index, making it harder for pet owners to budget for their pets’ health needs. Several key factors contribute to these rising expenses:
- Workforce Costs: A competitive job market has led to much-needed wage increases for veterinarians and support staff.
- Shifting Practice Economics: Clinics are adjusting pricing strategies to offset reduced pharmacy revenue due to online competition and rising operational costs.
- Higher Supply and Medication Costs: Inflation, supply chain issues, and manufacturer pricing changes have resulted in increased costs for medical supplies and pharmaceuticals.
Technological advancements and changes in care models also play a role:
- Cutting-Edge Diagnostics and Treatments: New diagnostic and treatment innovations improve pet health outcomes but come with higher price tags.
- Expanded Specialty and Referral Services: Increased access to advanced care means more options but also higher expenses related to specialized staff, equipment, and facilities.
- Reduced Intermediate Care Options: An emphasis on advanced-level treatments has created gaps in mid-tier care, leaving some pet owners with limited choices.
While advanced treatment often leads to the best medical outcomes, it’s important to recognize that specialty care isn’t always practical or desirable for every pet owner.
Strategies for Improving Access to Care
Here are three ways to support affordability and accessibility without compromising the necessity of charging appropriately for services:
-
Educate Pet Owners on Financial Planning Tools. Families have more financial planning options for their pets’ healthcare than ever. Providing guidance, such as recommending pet insurance options, can help alleviate financial strain. Encouraging teams to stay informed about available solutions can make a big impact.
-
Implement a Spectrum of Care Approach. Offering a range of evidence-based treatment options, from basic to advanced, helps pet owners make informed decisions within their financial means. Judgment-free communication and flexible care models empower more families to choose a level of treatment that aligns with their expectations and resources.
-
Leverage Stratified Practice Models. Rethinking service delivery can improve affordability and efficiency. Options include maintaining a referral list of lower-cost providers, directing minor cases to urgent care facilities, or using telehealth for triage. Emerging models like vaccine clinics and urgent care centers are reshaping the landscape, making veterinary care more accessible.
Moving Forward
Change can be challenging, even when it’s gradual, but small, purposeful steps can make a significant difference. By assisting pet families with financial planning, adopting a spectrum of care, and exploring innovative care models, veterinary teams can be instrumental in improving access to care for all pets.
References
- Benson J, Tincher EM. Cost of Care, Access to Care, and Payment Options in Veterinary Practice. Veterinary Clinics of North America: Small Animal Practice. Published online December 1, 2023. doi: https://doi.org/10.1016/j.cvsm.2023.10.007
- Wiltzius AJ, Blackwell M, Krebsbach S, et al. Access to Veterinary Care: Barriers, Current Practices, and Public Policy. AVCC Website (http://avccutkedu/). Published online December 17, 2018. https://trace.tennessee.edu/utk_smalpubs/17/
- Economic Well-Being of U.S. Households (SHED). Board of Governors of the Federal Reserve System. Updated August 22, 2022. Accessed May 21, 2023.
