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We’ve heard about sticker shock in the context of judging a client’s pocketbook for years. Recently, several sources have analyzed and shared cost of care information associated with pet ownership. The intent of these studies is to help veterinary teams understand the costs of caring for pets and to help them proactively discuss costs with pet owners over the lifetime of a pet.
Peter Weinstein, DVM, MBA, and Adam Christman, DVM, MBA, discuss a study of 1,000 pet owners and 100 veterinarians that revealed client expectations about cost of pet care.
. . . 25 percent of people surveyed indicated a cost of $250 would cause anxiety because it was outside of what they expected in terms of the cost of care . . . 46 percent were triggered at $500 . . .
Source: DVM 360, August 2022. Link. (3 videos; 14 minutes total) The cumulative study looks at all the different silos in veterinary care and animal care, that include food, toys, veterinary services, grooming and other things.
45 percent of dog owners 38 percent of cat owners thought they were financially ready for pet expenses, but we’re not.”
Also see: Lifetime of care study, Synchrony, Care Credit, Pets Best. Link.
INSIGHTS: Each cost of care study shared in the marketplace is an opportunity for veterinary teams and animal health pros to learn and reinforce the need to discuss total costs of all categories of pet care.