Pricing of veterinary products and services – fair pricing for profit?

Catherine R Coates
Saturday, March 1, 2014

The pricing strategy which a veterinary practice develops must reflect the true cost of delivering products and services to clients. An essential starting point for any pricing strategy is, therefore, to establish what these costs are. This article addresses the issues and challenges involved in costing and price setting of veterinary drugs and medicines, pet health products and veterinary services within a small animal practice. First, the various pricing strategies available to practice managers and owners are explored. Then a basic costing and pricing formula is put forward that can effectively be applied both to products and services and this is utilised to illustrate the actual price-setting process in two selected examples. Finally, some general guidelines are given for keeping clients informed about prices in order to ensure transparency and clarity and thus maintain and even enhance the practice–client relationship.

Pricing of veterinary products and services – fair pricing for profit?
Pricing of veterinary products and services – fair pricing for profit?

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