Q&A: How deposits can save veterinary profits

Q&A: How deposits can save veterinary profits

Q: What should we do when veterinary clients accept a treatment plan with an estimate and then, after the procedure is done, reveal that they can’t pay the bill?
source-image
Jan 20, 2012

“My guess is that you haven’t established a relationship with these clients and they don’t come see you year after year,” says Sheila Grosdidier, RVT, a consultant with VMC Inc. in Evergreen, Colo. “In these cases, ask for a deposit that reflects at least 50 percent of the client’s total bill before proceeding.” Some practices even ask for the total amount up front if it’s an emergency procedure or the client is new to the practice, Grosdidier says. Just be prepared for a few pet owners to raise an eyebrow—or two. “While it’s important to be compassionate and understanding with clients, remember it’s not your job to provide free services,” Grosdidier says.

Many clients may understand this but simply don’t know where else to go for financial assistance. That’s where you come in. “This is a great opportunity to talk about third-party payment plans and help clients explore their options without your taking on their payment responsibility,” Grosdidier says.

Hot topics on dvm360

Dog of Dallas Ebola patient will not be euthanized, authorities say

Health officials have quarantined and will monitor dog and amid concerns surrounding deadly virus.

Video: How to perform a belt-loop gastropexy

Prevent GDV in your at-risk patients with this simple technique.

Stretch your skills to earn more in veterinary practice

Finding new tasks could be the key to generating more income for your practice—and boosting your pay.

Veterinary community stunned by Sophia Yin's unexpected death

Prominent veterinary behaviorist died of suicide Sept. 28.

Study shows sustained salary slump for veterinary support staff

Since 2009, technicians paid by the hour have experienced a bump in pay, but pay for other team members has stayed stagnant, according to data from the 2014 Firstline Career Path Study. Here’s a look at changes in team pay from 2009 to 2013.