What pet owners will spend for veterinary care - Veterinary Economics
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What pet owners will spend for veterinary care
Don't assume veterinary care is too expensive for certain clients. Some of them are willing to spend thousands in your clinic.

VETERINARY ECONOMICS

Your veterinary clients may cringe when they catch a glimpse of a large bill from your clinic, but there’s a good chance they’ll pay it without much of a fight. In fact, a new study suggests pet owners are willing to spend thousands of dollars to save their pets’ lives.

Approximately one in 10 dog or cat owners is willing to spend more than $3,000 on medical procedures if it meant saving their pet’s life, according to a recent survey conducted by the Kroger Co. Meanwhile, 15 percent of the people Kroger surveyed said they’d spend between $1,000 and $3,000 for life-saving medical care for their pet. Another 61 percent respondents said they’d spend between $100 and $1,000 on life-saving care.

When asked what they fear most about their pet’s well-being, about one in four (27 percent) of dog owners said cancer, followed by hip/knee/leg injury (17 percent) and getting hit by a car (16 percent). The biggest concern for cat owners was kidney disease (19 percent), cancer (17 percent) and injuries sustained by fights with other animals (10 percent).

Only a small percentage of the pet owners surveyed said they have pet insurance: four percent of dog owners and 2 percent of cat owners. However, 61 percent of dog owners and 48 percent of cat owners said they would consider purchasing pet insurance if it cost less than $20 per month. Interestingly, at least half of pet owners (55 percent with dogs and 51 percent with cats) would be interested in adding their pets to their own health insurance plans, if such a thing were allowed.

The online survey was conducted in April of more than 300 cat and dog owners ages 18 and older.

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Source: VETERINARY ECONOMICS,
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