What do pet owners think of your fees?

Many vet clinics struggle to calculate the real cost of their services. That is why a cost-based pricing strategy can be risky and result in a far too low or high price, and be disconnected from the pet-owners' perception of value. To support clinics in this, VetFamily in Spain together with VMS (Veterinary Management Studies) and pet insurance company Santévet conducted a study and following webinar on the topic. The objective was to provide clinics with insights around pet owners' perceptions about the pricing of the most common veterinary services in Spain in order to improve clinics' confidence in their pricing strategy.

Over 460 participants attended the webinar on January 18, where the results from interviews with 2000 pet owners discussing their ideal price range on ten of the most common veterinary services were presented.

Some key takeaways from the study:

• Almost half of clinics price at least one or more services outside the acceptable price range (very often below the minimum acceptable price by pet owners!).
• For services where the willingness to pay is lower (e.g. castration), we see room for improvement for clinic staff to educate and explain more to pet owners about the real value provided by the service.
• Acceptable price ranges are higher for most analyzed services when the pet owner has a previous experience with the specific service. This indicates that once the pet owner really understands what is involved in the service, he/she is willing to pay more.
• Total customer experience (not just the service itself) plays an important role in whether a customer feels satisfied with the price they pay or not.
• The average price range for willingness to pay is slightly lower for cats than dogs.

Are you interested in learning more about how VetFamily can support your clinic in pricing, profitability or other develpment? Send an email to contact@vetfamily.com.

Do you want to know more about this Spanish study or how VetFamily supports independent vets in Spain? Reach out to the VetFamily Country Manager in Spain, Christian Battazza at christian.battazza@vetfamily.es