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Slide Notes
Sitting in the small room, I mentally take inventory of the items in the doctor’s office, hoping to find something that the other vet didn’t have, but there’s nothing - it feels and looks exactly the same as the veterinary in San Angelo, only this one is in Colorado City. The cold steel examination tables and quadruple-digit invoices are now a part of our weekly routine. We’ve been to five different veterinarians this month alone, desperately trying to find one that doesn’t offer the same services for twice the price. The only price left unchanged is the euthanization fee, and despite trying to spend less, I’m not limiting my dog’s life to what my wallet can afford. The wasted time in vets’ offices not only drains my patience but my bank account as well. It seems as if every veterinary has decided to increase their prices twofold every year.
Veterinary Pricing Presentation
Published on Apr 21, 2020
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MORE DECKS TO EXPLORE
PRESENTATION OUTLINE
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Sitting in the small room, I mentally take inventory of the items in the doctor’s office, hoping to find something that the other vet didn’t have, but there’s nothing - it feels and looks exactly the same as the veterinary in San Angelo, only this one is in Colorado City. The cold steel examination tables and quadruple-digit invoices are now a part of our weekly routine. We’ve been to five different veterinarians this month alone, desperately trying to find one that doesn’t offer the same services for twice the price. The only price left unchanged is the euthanization fee, and despite trying to spend less, I’m not limiting my dog’s life to what my wallet can afford. The wasted time in vets’ offices not only drains my patience but my bank account as well. It seems as if every veterinary has decided to increase their prices twofold every year.
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My original research question was: How did Veterinary Prices Change Over the Last Decade? Researching consumers' responses was a more original topic to follow, so I continued to study consumer reports.
Veterinary Pricing
With that experience in mind, I choose to explore the topic of veterinary pricing. This is a topic that all pet owners have faced, whether it's deciding to vaccinate a cat or to put a dog through a vital surgery. My updated research question is: How has the Increase in Veterinary Pricing in the Past Years Affected Pet Owners’ Choices to Skip Common Veterinary Procedures? To begin, we will discuss why these prices increased and what they include.
Photo by Army Medicine
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The veterinary industry has seen a significant increase in pricing over the last few years after the decrease in the first half of the past decade. After 2014, the price steadied with the rate of inflation. It continued to rise now that doctors have effectively learned how to reap a maximum profit all while still maintaining their business. However, consumer participation has decreased because of high veterinary costs.
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In addition to inflation, new technology and the costs of running a veterinary also affect prices. These new inventions add speed and efficiency to the veterinary industry. Similar to the arrival of new smartphones and laptops, modern state-of-the-art monitors and digital x-rays cost more than their past models. It’s essential for veterinarians to adapt to new technology to continue working efficiently.
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This is a modern x-ray machine designed for large animals. Along with this veterinarians must also have small animal x-ray machines.
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Shown here is a new, digital heart rate monitor. Equipment like this monitor is used on both small and large animals.
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Just these two items alone can cost between $50 thousand - $100 thousand dollars. Now after calculating the other tools, therapeutic machinery, and surgical gear, starting a veterinary can add near a million dollars - assuming the building is already there.
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In order to afford this, doctors must compose a price for each service to support their business and pay off the new equipment.
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Veterinary prices are based on employees’ salaries, taxes, insurance, business expenses, supplies, and medication costs among other things.
Euthanasia or Empty Pockets, At Home Hospitality, or Switching Doctors?
When owners were told the costs of their pet's care, I found that most pet owners reacted to the expenses at least one of three different ways. One is paying the price for euthanasia instead of costly medication and therapy. Another price escape is Do-It-Yourself veterinary, where owners will perform veterinary procedures by themselves. Lastly, pet owners might opt for cheaper or additional veterinarians to ease the toll taken on their wallets.
Euthanization
The high prices suit the needs of the veterinary, but not the owner. This leaves many owners to choose euthanization because it is less expensive than paying for specialty operations or prescription medication.
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Although veterinarians are required to help owners with their losses and create a plan for the pet. The most a doctor can do is support the patient and walk them through the process. It may seem like all the pain and suffering is on the owner's part, but a veterinarian has his fair share of pain too. Some doctors may experience compassion fatigue when they have to put an animal down. Compassion fatigue is the feeling of burden caused by the suffering of others.
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It's extremely important that the owner's decision is respected, it took a lot of careful thinking to reach a point. While euthanasia is cost-friendly, it breaks the hearts of pet owners who lost part of their family.
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Even after coming to a conclusion, several owners have experienced criticism and guilt from their peers and vets. The decision to euthanize an animal is tough to make. Some pet owners can't bear the emotions that accompany the loss of a pet, so they may choose a more comfortable alternative - At Home Veterinary.
Photo by Ben White
Do-It-Yourself Veterinary
A few awful office visits can turn a dog owner into a dog doctor in a matter of time. One perk for Do-It-Yourself Veterinarians is not having to convince their dog to see the vet. Most owners would rather skip the stressful, nausea-inducing car ride to the vet's office. At home veterinary is also more pocket-friendly - there are no money-hungry veterinarians around to bargain for a bigger check.
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In Do-It-Yourself Veterinary, pet owners will handle regular tasks like nail-clipping as well as more complicated procedures such as removing stitches from their pets. Recent studies show that vet visits are increasingly efficient when owners become more active in their pets' lives. However, some took it the wrong way and only invest in home hospitality.
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Not only do these improvising physicians perform common procedures, they may also have a makeshift medicine shelf. Most of the medicine on their shelves is meant for humans, but can be used on animals as well.
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For example, Diclofenaco is an inexpensive, topical, Mexican drug that is commonly used by pet owners for bruised ligaments and tendons as well as stretched muscles.
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Included here is a list of over-the-counter medicines with their respective conversions for dogs. Children's Bendadryl is among the most popular used. This type of veterinary is cheap. However, there is a reason for taking a pet to a doctor. A veterinarian is a professional and knows how to assess any animal-related situation given. But, when one veterinary is too risky and another is expensive, pet owners will try to find another alternative.
Switching Veterinaries
At-Home Veterinary is full of risks because it is partially based on human procrastination. Most people only realize their pet is sick when clinical symptoms are shown - when it's too late. In an effort to avoid this, pet owners may opt to find another or add additional veterinarians to their pets' care team.
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Multiple professionals on a care team has multiple advantages. One doctor may be cheaper and used for regular check-ups while another is closer and better suited for emergencies.
Which Vet to Choose?
Considerable traits in finding a new veterinarian are affordability, availability, morals, and compassion. Without a working client-vet relationship, the partnership will fail - similar to marriage.
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Like any other alternative, having multiple veterinarians has its downfall. If the professionals conflict with one another's opinions, taking care of the pet will become overly-complicated - like a custody battle between divorced parents.
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Even though both or all veterinarians may disagree with each other, it is the smartest decision for a pet owner to make because it has the least amount of risks.
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Although it may not seem like pet owners have much control over what the prices are at the veterinary, they have control of how much they spend. For instance, a dog owner can set a yearly budget for his dog's expenses.
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Veterinarians and pet owners can work together to find a price that suits them both.
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Some veterinaries have implemented financial aid and pet insurance to save their clients' pets and wallets. Most insurances do not cover regular visits, however, they cover emergency services - which can save an animal's life in a critical moment.
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Some doctors even set up a target profit so it just barely covers essential costs and satisfies the customer. Here is a formula that is used often to determine a target profit.
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One last way to counteract high veterinary prices is by communicating with local veterinarians. Most doctors are open to discuss different options with their clients. Overall, both clients and doctors should work together to find a price that fits their standards.
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More Information on Veterinary Pricing can be found in DVM Newsmagazine.
