VetShare | Health plans - Why, When, How?

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Health plans - Why, When, How?

The ‘how’ -

Health plans have historically been quite a significant task to undertake - with time taken to consider the benefits, the products to include, the price points and having a suitable plan provider to partner up with. We have seen plans started and left on the shelf for years without progress - essentially, hours of your time invested in the planning but the execution didn’t come to fruition. Likewise, plans that have launched without proper support or training have seen similar outcomes.

Our offering, MiHealthyPet, has the benefit of experienced account managers helping you from the very start. We have the knowledge and pricing tools to ensure you plan is set up accurately - and our physical support at plan launch and ongoing makes all the difference. If you’re looking to set up a plan, have one already that needs a re-launch or you’re paying too much for the plan provision you currently have, then why not speak with us about it!

The ‘when’ -

In reality, there’s never a ’good time’ to set up a health plan. With so many other pressing issues at hand in practice, a new health plan will often sit low down on the list of priorities. But should it? In these challenging times, it has shown that health plans give practices guaranteed income where it’s otherwise been very difficult to manage the losses of footfall. Our plan members have seen guaranteed funds from their health plan clients during this time, and have adapted well to choosing to post product or simply allow clients to collect from the door - knowing that the financial side of things is taken care of.

To all of our surprise, we’ve seen growth in the plans since lockdown. Initial fear among practices is that clients would cancel ‘non-essential’ outgoings and that health plan direct debits would fall within this category. However, clients are happier to maintain their pet’s preventatives by spreading this into the bitesize monthly payments rather than paying in full when its due.

The reason why many plan set ups fall off the priority pile is often down to perception of time. The time required to start the process, review products, figure out pricing, consider the marketing & the client appetite for it. Our health plans do not require lots of time to set up - we already understand your products, the cost to you and have experience in how to price and market your plan. We provide tailor made marketing materials for you (free of charge) and even launch the plan with you on the day. We also re-train and will come in to see new staff to get them on board with it too. With us, all you need to do is decide what you want to include & how much discount to give! It really can be that simple.

The ‘why’ -

Health plans are a great way to offer a convenient way to pay that also rewards their loyalty as a client of your practice. However, that loyalty is a two way street. Some clients that sign up to health plans are those that are cost aware - always looking or comparing the price they have paid with what is available online. Veterinary practice can never be competitive with online pharmacies, but a health plan that offers discount to all whilst keeping those savvy clients happy & away from diverting their purchases online is a perfect medium. Fortunately, we also have the MiPet products available to our members which offer a great financial benefit to you (same quality you’re used to!) whilst allowing plans to be priced competitively, without effecting your profit margins.

If you’re considering a health plan, already have one that you want to transfer or have one that’s simply costing you too much to provide (we only charge 0.55p per pet on plan) then please do speak with your VetShare account manager for an open & honest chat on how we can help you achieve this.

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