Veterinary survey says pet insurance is a practice boon

By Veterinary Practice News Editors

When pet owners carry pet health insurance, it is a win for them, their pets and veterinarian caretakers; pet insurance can be a hard sell but veterinarians can prove the difference, according to John Volk, senior consultant, Brakke Consulting, a Dallas-based animal health and veterinary practice management consulting firm.

Volk spoke on behalf of the North American Pet Health Insurance Association (NAPHIA) to an audience of veterinarians at the annual meeting of the American Animal Hospital Meeting, where he laid out the 10 best practices veterinarians use to get clients to carry pet insurance.

The 10 best practices:

• Select no more than two pet insurance companies to support;
• Make one or two employees pet insurance specialists;
• Have the pet insurance talk with clients’
• Link the practice website to chosen providers;
• Determine which clients already carry insurance;
• Put pet health insurance and claim number on each patient record;
• Submit claims;
• Make pet insurance a staff benefit;
• Point people to 30-day, free trial policies; and
• Get the whole practice involved.

Volk and the NAPHIA derived their list after interviewing veterinary practices with above average numbers of insured patients.

When people have pet health insurance, they are more likely to follow through with veterinarian recommendations, optimize veterinary medical services for their pet and spend more on their pet’s health according to those who Volk and the NAPHIA interviewed.

“The use of pet health insurance is growing rapidly, although only a small percentage of pets are currently insured,” said Sue McManus, president of NAPHIA and vice president of personal solutions marketing at Nationwide.

Research by NAPHIA suggests a 50 percent increase in pet owners carrying pet insurance if only their veterinarians would recommend it.

“Pet owners are far more likely to insure their pets if their veterinarians get behind it,” McManus said.

Originally published in the May 2017 issue of Veterinary Practice News. Did you enjoy this article? Then subscribe today!