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1.6.9 Changing Business Models

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With every new economic shock comes opportunities for improving the veterinary business model to be more responsive to current market pressures. Following the most recent pandemic, some of the most acute problems to be addressed include embracing pet‐specific care so that clients better understand the lifelong needs of their pets without requiring prompting by in‐hospital visits; making it easier for virtual care to be delivered to clients; facilitating e‐commerce and home delivery; and constructing a more profitable business model better able to withstand such economic shocks. Such crises should also convince practice owners of the importance of financial metrics and dashboards that allow clinics to be resilient and thrive despite challenging events. Veterinary care may be an essential service, but all veterinary practices are not recession proof.

Pet‐specific care allows clients to understand the lifelong needs of their pets in advance, and to financially prepare for dealing with them (see 1.2 Providing a Lifetime of Care). Even in the case of economic shocks, clients can appreciate where care needs to restart when situations normalize, what is to be prioritized, and discussions to be had with the veterinary team either virtually or in person. There is no need to wait for regular appointments to resume before instituting appropriate care.

Pet-Specific Care for the Veterinary Team

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