Debunking care plans
Is your clinic embracing and accepting the subscription economy?
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In today's world, every generation for the most part, has at least one type of subscription. Whether it's streaming services, like Netflix, or workout classes, like Pilates, the clients walking in your clinic are used to paying subscription fees. However, is your clinic ready to bring the subscription economy through its doors?
On this week's episode of The Vet Blast Podcast, Ron Nelson, executive vice president, Covetrus Care Plans, sat down with host Adam Christman, DVM, MBA, to debunk some common misconceptions about care plans, plus the evolution of monthly subscriptions for pet care.
Below is a partial transcript
Ron Nelson: I think there's several areas to look at when you think of subscriptions in what's going on, not just in the veterinary market... So there's a subscription economy. If you have millennials, Gen X, they've grown up with being able to pay as they go [and] pay monthly. So it's kind of expected. If you think of baby boomers and even the silent generation, being able to budget makes it simpler for them to understand and feel more comfortable. So I think just understanding where the market is going with consumers and veterinarian clients or not being able to provide a subscription plan benefits all.
I think the second area is the technology itself has evolved to meet industry needs. It used to be very simple. You would bundle a couple of programs or services and you would offer that at a discount. We're not saying that you always have to have a discount. Today's technology—I like to relate it to my dad. I remember my dad being so excited. He bought a Lincoln Town Car and it had an 8 track tape player in it. I wouldn't be buying a car today with an 8 track tape player in it. And your care plan technology is based on new cloud based technology that delivers new functionality and new capabilities that really do drive efficiencies for the practice and personalization of plans. So again, understanding the subscription economy, the technology, and the third part is the personalization of plans.
