Editor’s note: Oops! We had the wrong byline on Patrick Malone’s post last week, so we’re re-running it here. Please accept our apologies.
According to a recent healthcare survey conducted by TD Bank, 87 percent of veterinarians surveyed expected to grow revenue in the next two years. Given the continuing onslaught on pharmacy revenue from 800 Pet Meds, Chewy and others, I sense this is more wishful thinking rather than a realistic expectation. When you’re ready to acknowledge the threat and act, read on.
Source: Vet-Advantage, November 2018. Link. Cost is the reason 1-800-PETMEDS has 10 million customers and are responsible for siphoning off $31,000 in annual flea, tick and heartworm revenue from the average practice. Add in the other online sources and the big box retailers and the loss to the average veterinary practice exceeds $75,000 annually. Premier’s manageable monthly payment plan removes cost from that decision and increases customer loyalty to the local animal hospital.”
INSIGHTS: You do not have to reinvent the wheel. Keep it simple. The most successful hospitals stick to the basic components of wellness: vaccines, flea, tick, heartworm and six-month exams.