The Benefits of Veterinary Wellness Plans

The Inexpensive, Easy-To-Implement, Easy-To-Scale solution for Veterinary Wellness Plans

Veterinary wellness plans are comprehensive healthcare packages for pets that veterinary clinics offer. These plans are tailored to meet each pet's specific needs, providing preventive care such as vaccines, routine check-ups, and other essential health care services. With such plans, pet owners can be sure that their pet is receiving all the necessary care it needs to stay healthy and live a long, happy life.

How has this led to the success of Banfield?

Wellness plans are  great for veterinary practices and their clients. Banfield^R is one of the leading veterinary companies to embrace wellness plans, as they have seen its positive effect on their business. Banfield^R has utilized wellness plans to improve client compliance and loyalty. They did this by reducing overall wellness care costs, offering easy monthly payments in lieu of large ‘at time of service’ bills. The increase in client compliance, loyalty, and interactions has ultimately resulted in increased profits and better service for its clients. With smart, affordable wellness care packages, Banfield^R has grown to become one of the largest practices in the world.

How PlanSplit can help private veterinary practices:

Independent veterinary practices can use PlanSplit as an online platform to deploy custom wellness plans quickly, easily, and inexpensively. This membership billing software lets providers make custom plans that meet the needs of their clients. The whole process can take as little as 20 minutes.  PlanSplit has built-in merchant processing and billing support which allows the veterinary staff to focus on care.  There is also a consumer dashboard that allows clients to keep track of payments and usage throughout the plan.

PlanSplit is especially useful for multi-location practices:

Multilocation and even large, decentralized veterinary management organizations can manage multiple locations on one dashboard. Each location can have it’s own custom plans but the administrative side can be handled in a single interface. Payouts can go to a central corporate bank or individual practice accounts, the customizability is our strength.

Wellness Plans normalize revenue:

The perks of veterinary wellness plans are multifaceted. Not only do they enable clients to save money and give providers the ability to adjust their billing, but they also enable clients to establish and maintain a preventive care routine. Wellness plans allow veterinary team members to be proactive about their clients' pets' health needs. 

Not only do these plans increase client loyalty and compliance, but they also strengthen the connection between the veterinarian, client, and pet. These plans also increase the MRR (monthly recurring revenue) for the veterinary hospital by creating a steady and predictable income stream for the practice.

During a recession, wellness plans can help reduce the impact of economic downturns. In other words, these plans act as a form of financial protection for veterinary practices, allowing them to remain profitable during difficult times.  From the client’s perspective monthly payments in lieu of large ‘time of service bills’ is a big plus.