How to Help Your Clients Financially Prepare for Equine Care

View the original article, titled “How Can I Help My Clients Be Financially Prepared for Equine Care?” published in a supplement of the December 2024 issue of The Modern Equine Vet.

How many times have you found yourself in the following scenario? A horse needs emergency care, but the owner balks at the cost. They ask if your practice can extend credit. While you discuss options, the horse is suffering, and your frustration grows.

Why don’t they have insurance or an emergency fund? Why are they so unprepared? Don’t they know horses are accidents waiting to happen?

As equine practitioners, we deal with clients’ financial challenges on a regular basis. And these challenges aren’t limited to emergencies; horse owners are often just as unprepared to pay for routine care or chronic issues such as ongoing lameness.

The solution is to offer clients financial care just as you provide patient care. Here are four strategies for doing this.

1. Build a Healthy Financial Relationship From Day One

Be proactive about establishing a financial relationship with your clients early on. This means helping them figure out a way to pay before a crisis occurs. Be open and transparent about the cost of equine care and discuss the payment options you offer to help them be ready for the unexpected (and the expected) throughout their horse’s lifetime.

2. Be Aware of the Financial Realities Horse Owners Face

Depending on the type of horse (competitive, recreational or backyard), your clients may face lifetime equine care costs ranging from $300,000 to $900,000+.¹ What’s more, owners tend to vastly underestimate these costs, spending three or four times more on their horses than they realize. Needless to say, 85% of them feel some kind of stress about horse-related expenditures.¹ Your understanding of these realities can lead to empathy and a foundation of trust between you and your clients.

3. Have a Clear Financial Policy That Sets the Stage for Lifelong Care

An ideal veterinary service agreement establishes your expectation that payment will be rendered at the time of service, lists the types of payment you accept and highlights the value of your expertise in keeping horses healthy. In addition to sharing your policy at the first client visit, post it on your website and include it in brochures, treatment plans, invoices, client newsletters and so on.

4. Offer Payment Options That Give Clients a Way to Manage Costs

Insurance, wellness plans and financing solutions such as the CareCredit health and animal care credit card are all excellent ways to help clients manage lifelong costs. Everyone on your team — CSRs, technicians, practice managers, billing coordinators and veterinarians — should be comfortable talking about these options.

Consider staff training focused on cost-of-care discussions (CareCredit offers several such resources), and note that financing is not just for emergencies — many horse owners use it for preventive care as well. To make it easy for them to pay, provide convenient online and mobile payment options accessible through their phones or computers.

In my experience, the biggest benefit of these financial strategies is healthier horses getting the care they need. Whether you’re dealing with an emergency colic or routine vaccination series, wouldn’t you prefer to get right to providing care? Clients who are prepared with an established way to pay are much more likely to help you do just that.

A Flexible Financing Solution for Your Equine Veterinary Practice

Looking for a way to give your clients a flexible way to pay for care throughout their horse's lifetime? Consider offering the CareCredit credit card as a financing solution. CareCredit allows horse owners to pay for equine veterinary services over time while helping to enhance the payments process for your practice.

When you accept CareCredit, clients can see if they prequalify with no impact to their credit score, and those who apply, if approved, can take advantage of special financing on qualifying purchases.* Additionally, you will be paid directly within two business days.

Learn more about the CareCredit credit card as a veterinary financing solution or start the provider enrollment process by filling out this form.

Author Bio

Dr. Mike Pownall, co-owner of McKee-Pownall Equine Services near Toronto, is a practicing veterinarian and veterinary business management consultant. He writes and speaks frequently on business topics for the equine veterinary profession.

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The CareCredit health and wellness credit card helps improve the payment experience for patients and clients, and your financial performance.

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