Money Talk

Question 1

Why module on money?

Answer 1

• Veterinarians nor clients do an effective job
• Impacts your relationship with clients
• Client’s lcak of financial resources is a common source of non-adherence
• Financial impact on the practice
• Written estimates are infrequently used in practice
• It won’t go away by ignoring it
• There have been tremendous strides in Veterinary Medicine,
  
  • Care for elderly animals is more costly
  • “Sticker shock” of veterinary care
• Stong human-animal bond yet few people budget for unexpected vet care

Question 2

Discussion of Money

Answer 2

• 29% of appointments include discussion oc cost
• Written estimate provided in 14% of appointments

Question 3

Money Decisions

Answer 3

• Emotions and Values
  
  • Animals are just animals (no large spending) vs Pets are family (no amount is too much)
• Human Animal Bond
  
  • Less attached to vs very attached to

Question 4

Why is money talk so difficult

Answer 4

1. Discussing mondy can be difficult
   
   • For the team and the clients
2. Linked to Identity
   
   • Touches on feelings and values
3. Assumptions hinder discussion
   
   • Biases/Prejudices
   • Culture
   • Relationships
   • Experiences
   • Culture
4. Pet owners want to know benefit for their pet
   
   • Care of animal precedence over $$$ aspects
   • Expect veterinarians to initiate conversations regarding cost
   • Money discussion related to outcome for pet well-being and health

Question 5

ADOBE

Answer 5

• Acknowledge the issue
• Discover the meaning
• Opportunities to show empathy
• Boundaries - Adjust
• Extend the system

Question 6

Ackowledge the Issue

Answer 6

• Be aware of your own cues and clues
  
  • Understand your own financial triggers
    
    • be aware if/which money issues will be a personal hook for you
  • Undertand your clinets’ feelings are not necessarily directed at you, but more at the situation
• Be aware of client’s cues and clues
  
  • Past conversations
  • Quietness
• Accept the Challenge
  
  • Does not mean you have to fix it

Question 7

Discover Meaning

Answer 7

• Check in on the client’s perspective:
  
  • would you like to discuss wat this treatment means financially
  • Are these costs what you expected
• Check client undertanding of how their money and effort may benefit their pet
• Include a written estimate
• Be aware of your own biases
  
  • Sympathetic vs Irritated
• Find common ground
  
  • recognize value of both perspectives
  • Express desire to problem-solve together

Question 8

Opportunities for Empathy

Answer 8

• Listen for opportunities
• Verbalize or demonstrated empathic responses
• Timing and context
  
  • Its clear you care about ___ and are unsure whether you are ready to commit to the cost of this eye surgery
• Feelings, Thoughts
  
  • It can be uncomfortable when balancing the care you want with the amount of money you have to spend. These decisions are hard for everyone

Question 9

Adjust Boundaries

Answer 9

• Content
  
  • Open boundaries around content
    
    • Listen or and acknowledge financial issues raised by the client
    • Use the clients words when possible (Demonstrate active listening)
      
      • I understand your finances are very tight right now and you want to spend your money wisely\
  • CLose boundaries around content
    
    • Redirect content if needed
    • Clarify boundaries as necesary
• Time:
  
  • Allow for time to talk about monetary issues
    
    • Educate client about short and long-term costs
    • Provide treatment options and associated costs
    • Emphasize potential benefites and value for their pet
• Roles
• Practice Policies
  
  • Establish clear billing and payment policies
  • Agree to be consistent
  • Clarify who discusses client monetary issues
  • Ensure practice teams is trained for fee discussions

Question 10

Extend the System

Answer 10

• Is additional help needed?
  
  • Referral to less expensive services
  • Pet insurance
  • Payment plan
  • Have printed resource information on hand
• What are possible resources
  
  • Family members or friends
  • Other veterinary medicine professionals
  • Community and other support services