A Field-Tested Strategy to Help You Rein in Receivables

When your job takes you from the barn to the field and back again, it limits your time to chase down payments from clients who may or may not be willing to pay. Juggling emergencies on top of daily appointments is challenging enough without adding accounts receivable to the mix. 

To address this, many equine veterinarians have started requiring payment at the time of service. This simple strategy can have a big impact on your practice and your overall well-being. Here are two scenarios where collecting money at the time of service can help you overcome common payment issues. 

Scenario 1: Negotiating with a Forgetful Client 

At the end of your farm call, your client says they left their checkbook, billfold or credit card somewhere else. You could tell them that it’s OK, and you’ll send them a bill later. But this response increases your administrative burden when it’s time to collect payment.  

Instead, offering a contactless financing experience, like the CareCredit custom QR code, can help make it easy for you to accept payment in the field. Your clients can scan to see if they prequalify and apply for the CareCredit health and animal care credit card. If they’re approved, they can pay for their horse’s care immediately.  

Taking the time to collect at the time of service can help reduce your future workload. It also sets the expectation that you’ll get paid for the service you provide.  

Scenario 2: Setting Expectations with a Trusted Client 

A long-term client calls to schedule an appointment for their horse with an acute issue. Your calendar is full, but you let them know you’ll be able to fit them in between farm calls nearby. To save time, you email them a link to your payment options before your visit. You let them know you accept the CareCredit credit card and include a link to apply. This way, you can serve the horse’s medical needs while making sure you get paid — and make it to your next appointment. 

Setting payment expectations before you go to an appointment can help set you up for success. When a client calls to schedule, ask them how they will pay for the appointment and remind them of the payment options you accept. Let them know you can share your CareCredit custom link so they can learn more about the CareCredit credit card and apply before their appointment. That way they’re prepared with a way to pay at the time of service. 

As an added benefit, if you need more time to prepare the bill, you can send it later and include your CareCredit custom link with the invoice. It allows your clients to pay online, helping to reduce the time between providing care, writing the invoice and getting paid. And you can make it to the next farm call ready to focus on your patient, not payment.  

A Healthier Financial Situation Is Achievable 

Developing a culture of collecting payment at the time of service can help support a good work-life balance and the happiness of your team. When you get paid for your services, it benefits your practice’s financial health.  

The CareCredit credit card is a tool that can help make it easy for your clients to pay over time, and for you to collect payment anytime, anywhere. And it can help your clients be prepared with a way to manage the expense of their horse’s care. This way, they don’t have to second-guess their ability to pay, and your practice receives timely payment in two business days. 

This simple strategy paired with a convenient payment solution can help your business’s bottom line, leaving you free to do what you love: taking care of horses.  

For more strategies to help rein in receivables, read the full article, “Handling Payment in the Field,” and be sure to check out the entire Special Issue of EquiManagement on preparing owners for care.

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