Money: It's About Value and Bond
Money impacts just about everyone. In a veterinary practice, many team members: 1) may not feel comfortable discussing money issues with clients, 2) don’t quite know what to say, or 3) don’t know how to handle reactions to discussions of money.
It’d be so much easier if we could just do the medicine, take care of the patient, and not deal with money. But money matters and it is important to effectively communicate the medical care plan (aka estimate) and associated fees. It’s much more beneficial to initiate the discussion up front, before the treatment has been provided, than at the end of the day when the client is paying and experiences sticker shock.
A practice manager discussed the recent shift in how his practice team discusses medical care plans and fees with clients:
Practice Manager: “We’ve spent a significant amount of time evaluating why so many of our clients didn’t say yes to a recommended treatment plan. We believed we were doing okay by having the doctors deliver their recommendations and then having a technician follow-up to review the estimate with the client; but we were missing something.”
Question: “What did you change and what steps did you take?”
Practice Manager: “We pulled the team together to get their ideas and an overwhelming response was that they didn’t feel comfortable talking about money. We took time in our team meetings to educate them of the value of our services as well as how to effectively communicate the value to the client. Our focus shifted from just communicating the bottom line cost to communicating the value of the treatment and how it will benefit the patient. It helps the team to view this as more of a discussion of value and less of a sales pitch. This approach has also strengthened the bond we have with our clients.”
Client Communication and Patient Care
Veterinarians practice best medicine by recommending the medical treatment they believe is best for the patient. The American Animal Hospital Association’s (AAHA) compliance study in 2003 was one of the first studies to quantify client compliance in the veterinary profession. One of the biggest roadblocks to the patient receiving the best care was the veterinarian’s prejudgment that the client wouldn’t accept the treatment plan or couldn’t/wouldn’t pay for it; as a result, the recommendation wasn’t made. So, first of all, it’s important for the veterinarian to communicate to the client what they believe is the best treatment plan for the patient.
Once the veterinarian has communicated the treatment plan to the client, additional information provided by the support team is presented to help the client 1) understand the recommended treatment, 2) why it’s important, 3) how it will benefit their family member, and 4) how much it will cost. This team approach to patient care and client communication is well-represented by AAHA’s compliance equation, C=R+A+FT: C=Compliance, R=Recommendation, A=Acceptance, and FT=Follow-Through (AAHA).
Medical Care Plan: Tell the Story
Whether dealing with a long-time client or new client, it’s important to present a medical care plan or treatment plan that includes an understandable story behind the medical recommendation as well as the associated costs. The client has the right to know what they can expect, to the best of the practice’s ability, before they agree to a treatment. Identifying what is often called an estimate as a medical care plan or treatment plan, helps the client perceive the treatment as more than a bottom line expense. It helps them understand the full story behind the medical plan as well as the associated costs thus reducing sticker shock and anxiety.
Value and Bond
There is a significant amount of emotion related to the animal-human relationship as well as with issues concerning money. Clients want to understand how medical treatments will affect the health and quality-of-life of their family member. Clients also need to figure out how they will pay for medical treatments and may have additional questions about forms of payments or payment plans.
Taking the time to explain a medical care plan, lab work, medication, diet, or financial policy helps the client perceive value. This helps them better understand the features or what they are getting for their money. It also helps to explain the benefits or why it is beneficial for their family member to receive the medical care (AAHA). When the practice team establishes a trusting relationship with the client, they are establishing an important bond. Clients have increased animal healthcare options and they make their decisions as to where they go based on their perception of value and bond with the practice.
Come Together
A team approach is necessary when helping relieve client anxieties, especially concerning issues involving money. It’s less about down-playing the importance of money and more about helping the client’s perception of the value and bond they have with the practice team.
What’s Your Story?
1. What’s your approach when discussing fees with clients?
2. What are some of the challenges in your practice concerning fees and the patient receiving the recommended medical treatment?
References
American Animal Hospital Association, “The Path to High-Quality Care: Practical Tips for Improving Compliance”, 2003.
American Animal Hospital Association, “Six Steps to Higher-Quality Patient Care”, 2009.
