261. Pricing Strategies to Improve the Bottom Line, Part I

Clients have been pushing back against the cost of veterinary care for years. Some of this is unreasonable, but constantly increasing prices without offering more value also doesn’t work. Implementing a pricing strategy isn’t just about deciding what percentage to use to increase fees. Pricing is a marketing issue and just one component of the marketing mix—place, promotion, product, and price, all of which must be considered in price determination. This two-part session will answer the following questions: What does the research tell us about pricing in veterinary medicine? Should you rethink your pricing strategy? What are the components of an effective pricing decision framework? And finally, what are some new pricing strategies that make it easier for pet owners to say yes to more and better care?