5 Tips for Success when Developing a Wellness Plan

Recently we shared a post highlighting a few of the key benefits offering wellness plans can have for your practice. Knowing this and actually implementing it as a strategy, however, can sometimes be challenging. To help save you time and aggravation and improve your odds of success, here are five expert tips to follow.

Define Your Coverage Options

The first step is, of course, determining what plans you will offer and what services to include in those plans. The goal should be to make them comprehensive enough that they’re worth your clients’ while, but not so complex that they’re confusing and/or make upselling more difficult. For best results, choose services that can be applied in all situations, regardless of the age or species of the patient. For instance, annual exams, basic vaccinations, parasite prevention, etc. Avoid including products, as this can further complicate matters since pets vary in size and species as well as dosage and type of product required.

Price Your Plan Appropriately

In order for wellness plans to be successful, they have to be at a price point that is both attractive to the client as well as profitable for you. Be conscious of this as you’re pricing your plans. For example, let’s say you are offering a 12-month payment plan. If you offer too deep of a discount, you will not generate enough reoccurring income to make it worthwhile. Conversely, if you charge too much, people won’t bite. Most practices charge an upfront annual enrollment fee, which can help defray some of the costs incurred during the initial visit. The balance is then divvied up into 12 equal monthly payments. If you’re unsure what to charge, do a little market research in your area.

Consider Offering Multiple Options

If you’ve got an eclectic group of clients, offering multiple plan options might help your wellness plans appeal to a broader audience. There are a few different ways to do this. Some practices break it down by the age and species of pet. For instance, they offer kitten wellness plans, adult dog wellness plans, senior wellness plans, etc. Others choose to designate plans by tiers. For example, the basic plan costs the least but only includes an exam and specified vaccinations. A premium plan might include other more advanced services, like dental care, spay/neuter procedures, etc.

Choose a Payment Strategy/Platform

Because wellness plans typically involve equal monthly payments, you’ll want to set up a system that will take care of the automatic payment processing for you every month. The good news is, there are a number of existing platforms and services that offer this specifically. Start with your local banking provider. Chances are they offer an option that will allow you to process automatic payments from credit cards, debit cards or ACH checking accounts. Once set up, your staff should only need to input information from new enrollees.

Don’t Get Overwhelmed

Launching a wellness plan program can feel overwhelming – especially when you’re busy doing a million other things in your practice. If you’re struggling, try starting small with just one simple plan. Once you get comfortable, you can start building out from there. Remember – there’s no right, wrong or one-size-fits-all solution to a business initiative like this. Approach it at your own pace and you’ll see it’s not nearly as big a hurdle as you once imagined it to be.

Let’s hear from you! Have you had success implementing wellness plans? What strategies, tips, tricks or advice can you offer to others? Please share in the comments section below.

Our Advice: Key Strategies for Successfully Developing a Wellness Plan in 2024

How can veterinary practices determine the optimal number and types of wellness plans to offer based on factors such as their client demographics, patient mix, and local market conditions?

Veterinary practices can determine the optimal number and types of wellness plans by analyzing client demographics, patient mix, and local market conditions. Start by reviewing the prevalent species and age groups among patients to tailor plans to these segments, such as creating specific plans for puppies, adult dogs, kittens, and senior cats. Analyze client spending habits and preferences through surveys or past billing data to gauge price sensitivity and desired services. Lastly, conduct local market research to understand competitor offerings and identify gaps or opportunities to differentiate your wellness plans, ensuring they meet unique community needs.

What are some strategies for communicating the value and benefits of wellness plans to clients, both at the point of enrollment and throughout the plan year?

To effectively communicate the value and benefits of wellness plans, veterinary practices should utilize clear and consistent messaging at the point of enrollment and throughout the plan year. Initially, employ educational materials such as brochures, detailed FAQs, and dedicated website sections that highlight the cost savings and health benefits. Staff should be trained to discuss these advantages during client visits. Throughout the year, send regular updates via email or SMS that detail services used, remind clients of upcoming benefits, and share success stories of other clients to reinforce the ongoing value of their wellness plan.

What are some best practices for tracking and measuring the financial performance of wellness plans?

To effectively track and measure the financial performance of wellness plans, veterinary practices should implement a few key strategies. Utilize accounting software to separate wellness plan revenues and expenses from regular business transactions for clear visibility. Regularly analyze key metrics such as enrollment rates, renewal rates, and average revenue per enrolled client. Compare these metrics against the costs of services provided under the plans to evaluate profitability. Additionally, conduct client satisfaction surveys to gauge the perceived value of these plans, which can indirectly impact financial performance through retention and word-of-mouth referrals.

How can veterinary practices handle situations where clients wish to cancel or modify their wellness plan enrollment?

Veterinary practices should handle cancellations or modifications of wellness plans with a clear, client-friendly policy in place. Establish and communicate the terms for modifications or cancellations clearly at the time of enrollment, including any fees or required notice periods. For clients wishing to cancel or change their plans, practices should facilitate the process efficiently to maintain goodwill. Offer personalized consultations to discuss the client's concerns and potential adjustments to better meet their needs. Additionally, gathering feedback during these interactions can provide insights for improving plan offerings and reducing future cancellations.

What are some strategies for incentivizing and rewarding staff members who effectively promote and administer wellness plans?

To incentivize and reward staff members who effectively promote and administer wellness plans, veterinary practices can implement several strategies. First, offer performance-based bonuses or commissions for each plan sold, aligning staff interests with practice goals. Additionally, provide non-monetary rewards such as extra vacation days or public recognition in team meetings for top performers. Consider providing ongoing training and development opportunities, which empower staff and demonstrate investment in their professional growth. Regularly reviewing these incentive programs can ensure they remain motivating and aligned with the practice's objectives.

For more practice management tips, tricks, and expert advice, bookmark the DVMelite blog and check back often for fresh content.