Veterinarians now have a free online tool to help increase treatment acceptance and reduce miscommunication about payment preferences. The new Financial Policy Builder at www.ncvei.org/financialpolicy was created by CareCredit with the help of the National Commission on Veterinary Economic Issues (NCVEI).
“A written financial policy is an important business component for any veterinary practice. Clients need to understand payment options in order to provide the best care for their pets and veterinarians need to be compensated for their services to keep their practice economically sound. A financial policy allows practices to communicate payment options without confusion,” says Dr. Karen E. Felsted, CEO, NCVEI.
New Financial Policy Builder
The Financial Policy Builder helps the entire veterinary team clearly communicate the practice’s financial guidelines in order to:
• Eliminate “fear of cost” and increase treatment acceptance
• Help clients understand the payment options offered by the practice
• Increase client satisfaction by minimizing confusion and miscommunication
“We are honored to partner with the NCVEI on this program,” says Doug Hammond, Senior Vice President, CareCredit. “As the nation’s leading client payment program, we recognize how important it is that clients know and understand their payment options. The new Financial Policy Builder enables a veterinary practice to customize a policy to their payment preferences and implement the policy immediately.”
To get started, simply visit www.ncvei.org/financialpolicy or www.carecredit.com/financialpolicy and follow the prompts to create customized financial policy documents, including:
• A Written Financial Policy
- Provides all payment options available to the client
- Includes any additional fees that might be the client’s responsibility, such as returned checks and cancelled appointments
- Is provided to all clients prior to treatment and included in new information packages and/or Puppy and Kitten Kits
• A Payment Options Form
- Reinforces the practice’s commitment to make payment for services as simple as possible, and confirms the client’s commitment to pay the treatment fee when the balance is due
Veterinarians, as well as their clients, have embraced CareCredit because it provides a convenient way to spread out the cost of veterinary care, for expenses large and small. Today, more than 8 million people have used the Convenient Monthly Payment Plans for their pets and themselves.
New Financial Policy Builder
Practices interested in more information on CareCredit or to enroll can call 800-300-3046, Ext. 4519 or visit CareCredit online at www.carecredit.com
The National Commission on Veterinary Economic Issues was founded in January 2000 with a mission of raising the economic base of veterinary medicine. A wide-ranging group of benchmarking, pricing and communications tools, as well as other resources are available, free of charge, at www.ncvei.org. The commission is a not-for-profit organization, governed by a board of directors representing the three founding organizations: American Veterinary Medical Association (AVMA), American Animal Hospital Association (AAHA), and the Association of American Veterinary Medical Colleges (AAVMC). Visit www.ncvei.org for more information.
A division of GE Capital and the nation’s leading client payment program, CareCredit is at work in more than 125,000 healthcare practices and has helped millions of clients provide optimal care for their pets immediately. CareCredit offers a comprehensive range of Convenient Monthly Payment Plans. CareCredit is easy to integrate, and participating practices enjoy the benefits of 24-hour application processing, instant credit decisions, and payment in two business days. Visit www.carecredit.com or call 800-300-3046, Ext. 4519 (not yet enrolled in CareCredit) or 800-859-9975 (already offering CareCredit) for more information.