Vance Vanier, Co-founder of CPF, has a new blog post up on his website: "Transformations in Veterinary Care Mirror Healthcare Specializations for Humans"

1. WWW.VANCEVANIER.COM
TRANSFORMATIONS IN
VETERINARY CARE MIRROR
HEALTHCARE
SPECIALIZATIONS FOR
HUMANS
VANCE VANIER

2. Historically, most pet owners
viewed the veterinarian’s
office as a one-stop shop.
Unlike human patients, who
might see one specialist for
their irregular heartbeat and
another for their itching eyes,
veterinary general
practitioners were expected
to handle the majority of pet
health concerns in-house.
Referrals were rare; visits to
specialists were even fewer.

3. Today, our engagement with animal-centered
health mirrors the more specialized model
that we use for human healthcare. Owners
now have more options to provide additional
care to extend life expectancies of their pets.
The primary care veterinarians that pet
owners used to rely on for all-purpose care
have become the central care directors in
increasingly wide-reaching networks of
specialty veterinarians. This newer model of a
triad of care between pet owner, general
practice veterinarian and veterinary specialist
has provided pet owners today with animal
care solutions that they might not have
thought possible a decade ago.

4. Consider the capabilities of SAGE Veterinary Centers — a
California-based provider network offering specialty and
emergency veterinary services in Dublin (CA), Concord,
Campbell, and Redwood City. Each of the network’s
locations provides access to specialty services including
cardiology, internal medicine, oncology, neurology,
surgery, and physical rehabilitation offerings. The
procedures these veterinarians perform are often
remarkably similar to those that humans receive. In 2018
alone, SAGE internal medicine doctors administered more
than 1,300 ultrasounds and 550 endoscopies. Their
veterinary surgeons performed more than 1,100 ACL tear
repairs on canine patients with over 150 arthroscopies
(minimally invasive surgery). SAGE’s oncologists, in
collaboration with the surgeons, had over 550 masses
removed and provided over 430 veterinary patients with
radiation therapy.

5. Pro-pet trends certainly indicate a
receptive market. Rates of pet
ownership in the United States are
high, especially among Millennials.
According to a survey published by the
research firm Mintel, 75% of Americans
in their 30s have dogs, and 51% have
cats. These pet owners aren’t skimping
on their pet-centered financial
commitments, either. The same study
also reported that pet spending
topped $11 billion in 2017. More than
half of those surveyed agreed that it
was important for their pet to be
comfortable as they age, and a full
quarter stated that they would pay
medical procedures to extend their
pet’s life “no matter what the cost.”

6. Consider the case of Ana
Homayoun, a New York
Times reporter who recently
chronicled her decision to support
her dog through hospice rather than
put him down. She was able to fund
his protracted end-of-life care
because she had invested in pet
health insurance. The policy
Homayoun chose took most of the
cost burden for the treatment off of
her shoulders, thereby empowering
her to pursue a specialized care
option that she might not have felt
comfortable investing in otherwise.

7. Insurance plans vary in design; some are accident-specific, but
the vast majority (98%) encompass both accident-caused claims
and animal wellness. They can either be bought by an individual
or obtained as an employer-sponsored benefit. Trupanion, one of
the leading pet insurers in the U.S., advertises that with some
exceptions, their members will only have to pay 10% of
unexpected veterinary bills. In doing so, they help pet owners
provide their animals with the specialized support they need to
live long and healthy lives.
However, Homayoun is still very much in the minority of pet
owners. The vast majority of Americans do not have pet insurance;
according to a report prepared by the North American Pet Health
Insurance Association (NAPHIA), only 3% of pet owners in the U.S.
have taken out policies for their pets. This number is strikingly low
compared to the 25% the UK maintains and the impressive 50%
that Sweden, the originator of pet health insurance policies,
currently has. If the U.S. increases its insurance adoption rate,
American owners could have greater financial freedom to engage
with specialist services and thus bolster the pet care sector
overall.

8. Expectations in pet care are
changing. Americans —
particularly millennial Americ
ans — want more care
solutions for their pets. The
highly specialized animal care
sector can provide the
support pet owners ask for
now — there is room in the
market to grow even further.

9. THANK YOU!
Vance Vanier
www.vancevanier.com