Veterinarians: Opportunities and the ISVS’ Role in the Industry


Veterinarians with dog

Estimated reading time: 2 minutes

Veterinarians are beginning to offer their services more and more in the digital world. Rightfully so, they are leaving behind their prehistoric desktop computers and operating systems to serve clients on smaller handheld devices and visually appealing POS systems. They are ditching the office spaces and heading out on the road to treat larger animals on farms and still remotely access data for collecting payments. So many businesses operate on wheels nowadays to expand their business, but also to come to aid of those who may not have access to transportation, and several Veterinarians are on the prowl to compete with them.

Veterinarians are even beginning to welcome Tele-Health trends into their practices as well. Through the usage of an electronic device streaming consultations, veterinarians can connect with pet owners. Owners are able to communicate symptoms through the video and receive advice and referrals through means of Tele-Advice and Tele-Triage. Veterinarians are even able to utilize E-prescription services to both administer and file medical prescriptions. These methods are making it easier on pet owners everywhere, especially for both equine and bovine categories.

There’s a saying out there that millennials aren’t the ones getting married and purchasing homes, but instead they are adopting pets in place of their children per se. That being said, most pet owners have more funds to spend on their furry friends. Reports have come to show that spending the big bucks on pets is anew consumer trend. Unlike healthcare payments for humans, the strain to pay for animal care typically falls on the pet’s owner, since veterinary insurance isn’t very mainstream. Take a look at some of the steep prices fo the most common animal treatments:

Average Price of Animal Treatments as of 2018

  • MRIs: $2,500 per scan
  • x-rays: $100 – $500 per scan
  • Ultrasounds: $50 – $500 per ultrasound
  • Endoscopies: $800 – $2,000 per procedure
  • Micro-Chipping: $30 – $50 per procedure
  • ECGs: $25 – $100 per procedure

According to Veterinary Manager, Elyse Cannon, “Many pet owners will probably be surprised to know how much the average bill for unexpected care be.” Things happen. Our pets get sick and sometimes it’s a fix that’s not as simple or as cheap as some over-the-counter treatments can be for us humans. Veterinary medicine is getting pretty advanced, so that’s where ISVs can come to the rescue. ISVs can create software systems that can offer monthly payments and billing aid and many other solution offerings.

Market Must Haves for Veterinarians.

  • Keeping payment card information up to date is the most time-consuming activity
    • It’s so vital for simplifying reconciliation efforts with banking partners.
  • It’s key to maintain a high level of security
    • This includes cardholder data tokenized and out of PCI scope.
  • Setting up recurring billing and payment options
    • This includes credit cards, ACH, online payments, and traditional card present payments (EMV & contactless)

Veterinarians are also looking to add blogs and more definitive landing pages to their websites that appeal to a consumer value. In hopes of building loyalty with clients, they are beginning to sell pet food, nutritional supplements, grooming tools and toys on their main pages and social media platforms. The forecasted trend predicts that the products listed on their website would be viewed as “recommended by the veterinarian” in the eyes of the consumer, granting that brand of puppy food the stamp of approval.

In the ever-evolving world dictated by consumers, there is always and need and a place for ISVs to meet the demand and produce the software necessary to get the job done.

Source: AVMA.org

 

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