Staying Strong In A Weak Economy

Ripples from the sinking economy are being felt in all industries and veterinary medicine is no exception. Those ripples are manifesting themselves in a variety of interesting ways, though. Over at Dolittler, Dr. Patty Khuly has a recent post about the increase of non-routine surgical cases at her practice. As clients try to balance their pet’s healthcare with some stark financial realities, Dr. Khuly notes that she’s referring fewer cases to specialists and taking on more specialized procedures herself. Clients simply can’t afford the increased cost of a specialist, it seems, and are instead sticking with their regular veterinarian for specialty surgeries and procedures. Dr. Khuly writes:

Yet now that more of my clients are sticking with me in tough situations, I realize that being a GP in a rough economy means newly familiarizing myself with what I’ve farmed out for years. It’s better for my bottom line, of course, but I worry on my patients’ behalf. No veterinarian can be all things to all patients, right?

Meanwhile, Veterinary Economics has an interesting article up about balancing discounts on services with bottom line costs. The short answer: discounts are great, but make sure they make sense and adequately cover your costs.

If the discounts are given as part of a veterinary marketing effort, be sure to first establish a set of goals related to the veterinary marketing strategy. If you’re looking to attract new clients (or bring back clients who haven’t brought their pets in in a while), be sure to monitor and track the application of this discount.  If the discount is part of a bundled package (such as a “New Kitten Wellness Package”, for example), keep track of the costs of each individual service that’s part of the package – if the costs of laboratory tests are going up but the price of the package stays the same, you’ll end up with a great discount for your clients but some not-so-great coverage for your own expenses.

On that same note, Veterinary Economics also has a recent article about “sprucing up your front door” – that is, keeping your veterinary practice’s marketing efforts fresh and up to date. Vet Economics offers some comprehensive advice, tackling everything from telephone protocol and hospital design to tips for your practice’s website, logo and brochure. VetNetwork can’t help answer phones or redesign your reception area, but we can revamp your website, design a dynamic logo and create an eye-catching brochure that will attract new clients. Learn more about how VetNetwork can spruce up your practice’s veterinary marketing plan.