Effective Billing Solutions Play A Role In The Growth of Vet Plans
As if we needed more evidence that veterinary plans are growing, Time Inc., (yes the publisher) announced a new veterinary discount and subscription program called PetHero.
Time is taking a page from the very popular subscription box services to create a pet themed program that includes a quarterly package of treats and toys, lost pet concierge service, discount on PetRX.com, and a veterinary discount program. To create the new offering, they partnered with Pet Assure to provide access to their popular vet discount network. Instead of starting from scratch, Time realized that Pet Assure was already positioned to bring in the missing piece.
Pet Assure has been part of a long trend in voluntary to include more ancillary perks to a robust employee benefit package. As a Paylogix Co-Op Funding Partner and one of the first providers to get on the Exchange Builder platform, Pet Assure has demonstrated the importance of excellent billing and administration in growing distribution. Charles Nebenzahl, president and CEO of Pet Assure Corp. acknowledged the significance of effective billing in a recent article.
"Up to now, Nebenzahl said, Pet Assure has reached pet owners chiefly through their employers, through whom two-thirds of its 200,000 members subscribe. The majority of participating employers deduct the membership fee from the paychecks of employees who elect to join. As a perk, a few employers offer to subsidize or pay for a membership."
Nebenzahl also discussed how they have successfully penetrated the voluntary benefit market in a recent article about the new partnership.
"Although not technically pet insurance, Pet Assure does share with insurance the attribute of being a "veterinary plan." Exposing more pet owners to the idea of a veterinary plan is another benefit Pet Assure sees in the partnership. Through Time Inc.'s marketing to potentially millions of U.S. consumers, Nebenzahl said, "Veterinary plans will become an accepted concept, just like dental plans and vision plans in human health care."
As more pet owners come to learn about vet discount and insurance programs, it is becoming more standard in a benefit package. Paylogix provides billing solutions for three of the largest players in this growing market.
