Why are veterinary costs so high? Are there ways to help better manage expenses?

Pet parents know that caring for their furry family members can put dents in the family budget, especially when pets face more complicated health conditions. Greendale Village Vet owner Dr. Michelle McDonough said the general elements of business and staff costs are fairly consistent among practices, but her clinic’s focus on best care sets it apart from many other clinics.

“I’ve been passionate about animals my whole life, and nothing is better than caring for them,” said McDonough. “When I purchased this practice, I was delighted to find one with a state-of-the-art equipment and a history of care from highly trained professionals. It has been a joy to expand on that.”

A veterinary practice is no different from any other business, and the current economic climate affects every part of it. Inflation has led to higher costs for supplies, equipment, pharmaceuticals and basic infrastructure expenses, such as utilities. “There are also costs a practice can’t control,” said McDonough. “We use external labs for certain types of tests, and we have no say about those fees.”

Clinic and hospital equipment is very expensive, she explained. “Outfitting a clinic runs into the hundreds of thousands for equipment alone, but it’s not a one-and-done. We have to invest more along the way to maintain, update or purchase additional items to remain current with care.”

The building, equipment and infrastructure of a practice are just the bones, though, she said. “We don’t care only for cats and dogs. We also care for our people. We provide health insurance, a 401K plan, uniform allowance, continuing education and an employee assistance program,” said McDonough. “Every employee here is highly valued. We do our very best for employees – in as many ways as we can – because their happiness and satisfaction are reflected in how they care for our patients.”

Can owners manage costs?

Preventive and wellness care is the first step for containing costs. “Pets should stay up to date on vaccines and monthly preventive treatments such as for heartworm, fleas and ticks. We make recommendations based on the best practices endorsed by the American Veterinary Medical Association and other professional organizations.

“We understand completely how hard it is to keep finances under control,” said McDonough. “We have our own families and have the same kinds of challenges everyone has in these uncertain economic times. That’s why we strongly urge wellness exams to avoid the high bills associated with advanced conditions and diseases. If problems arise and are caught early, treatment is less expensive than when troubles take hold and escalates. Younger animals should see their doctors once a year, and senior pets should come in twice a year. Dental care is also very important for overall health.”

There are some things pet owners can do to steer pet costs so they don’t overwhelm a family budget at the time of service. “Popular methods at our clinic are pet insurance and payment-plan systems,” said McDonough, “and some families find it useful to establish dedicated savings accounts. “Regularly stashed funds in a separate account can add up quickly, making a vet bill more manageable at the time of service.

“We also offer Cherry, which is a way to set up payment plans. That has been a highly successful way to help clients.” CareCredit is another option with payment plans. “It’s like a credit card, but there isn’t an annual fee,” she explained. “It allows for a payment plan with no interest for six months.”

McDonough said the clinic does its best to keep costs down as much as possible, and offers resources on the website for managing costs.