Professional studies - charging for services in veterinary practice Flashcards
What areas can you be more efficient in and reduce client complaints?
Charging for services promptly and completely Ask for payment at time of treatment Stock control - expiry dates Produce accurate estimates Discuss insurance
What does the RCVS code of conduct say about costs?
Discuss a range of reasonable treatment options, prognoses and likely charges
Put estimates in writing
Warn of additional charges
How do you accurately charge for services?
Charge at time you do it
Maintain accurate clinical records
Bill on practice management software each day
How do farm animal practices charge for services?
On account - 14-30 day account terms
How long can most injectable medications be open for?
28 day broach - discard after 28 days of being open
Make sure to only use 1 bottle at a time
When are fee complaints most common?
When estimates are inaccurate or inappropriate
What is a quote?
A fixed price
What is an estimate?
Educated guess
Not legally binding
What does ‘level of cover’ mean in terms of insurance?
How much money is available for veterinary treatments per year/per condition
What does ‘cover for life’ mean in terms of insurance?
Any condition diagnosed will continue to be covered for the rest of the patient’s life - subject to yearly condition limits/yearly policy limits
What does ‘yearly policy limit’ mean in terms of insurance?
This is how much money is available for veterinary treatments. This can be per condition or per year (for any condition).
What does ‘limit per condition defined by monetary value’ mean in terms of insurance?
Will pay a set amount per condition claimed. Once that money is spent then cover for that condition automatically stops forever
Eg. Treatment for heart disease up to £4000 but after this is paid the condition is no longer covered, not covered for life
What does ‘limit per condition defined (primarily) by time’ mean in terms of insurance?
The condition is covered for 1 year following diagnosis (and subject to the level of cover). At the end of the year the condition is no longer insured.
Eg. Will pay up to the level of cover for heart disease but after a year that condition is no longer covered
What are common causes of distress relating to insurance?
Preexisting conditions that the client assumes are covered but are not
Dental disease terms - have to be treated in first 1-3 months after diagnosis
Percentage contributions
What are the two ways that practices deal with insurance claims?
Either the client pays in full at the time of discharge and then the insurance money is reimbursed after
Or the client does not pay the money in full and the vet practice deals directly with the insurance company to recover the debt
