The complexities of talking about money
Discussing money with clients is often one of the hardest parts of the job and there is mounting evidence to show that as veterinarians and veterinary nurses, this is one of our least favourite parts of the job. So why is discussing money so difficult? Like any conversation, there are two parts, because conversation is a two-way street. Both the client and you bring your own experiences, values, judgements and preconceived ideas to this discussion.
Veterinary factors impacting financial discussions. For Veterinarians financial discussions are often multifaceted and some self-awareness of how you feel about not only discussing money generally but also specifically about each case is important. It is important to be aware when your own judgements and previous experiences (memory bias) are influencing the way you choose to approach financial discussions. If you are aware of your bias, thoughts and feelings then this allows you to adjust your approach and be aware of how these feelings could affect your part in the discussion. An important part of the professionalism of a veterinarian is being able to put aside our own biases and judgements and offer our clients and patients the very best care we can. The best solution for a client and patient is not always the most expensive, but being able to have an open and honest conversation about the options that will suit the patient and the client is imperative to our success as veterinarians. Like all of these professional skills, being self-aware and working on these skills is essential. Developing a toolbox of phrases and ways to have these conversations through training can make a huge difference about how you feel about having these discussions.
Client factors impacting financial discussions. Clients are often very worried about the financial aspects of veterinary care depending on their financial situation. They bring to consult and the financial discussion their own concerns, their own bias around what veterinary care is likely to cost. They may feel that they have no control over the situation, especially if finance is restricted, the patient is not insured or the condition not likely to be covered by their insurance policy or wellness program. For clients who are unable to afford the care or perceive they are unable to afford the care, there is often shame and guilt attached to this situation which can enact the sympathetic nervous system and the flight fright response which can lead to a lack of control of the forebrain over these instinctive flight fright behaviours. Clients want the ‘unknown’ aspect of money to be communicated very clearly to them. A 2007 Study by Coe et al showed that clients expect veterinarians to initiate conversations about money. Understanding the client factors at play with money discussions is an important part of managing these conversations.
What is clear and I’m sure everyone would agree, discussing the financial aspect of veterinary care is an imperative part of the consultation. Clients expect us to initiate this and there are many factors that influence both what we, as veterinarians bring to the discussion and what our clients bring too.
Having some self-awareness around our own responses and feelings about discussing money and the way our clients can be affected is essential to having skills in this aspect of practice. The other piece that is vital, is developing a toolbox of phrases and skills to approach these conversations in a way that is tailored to the client in front of you. All of these skills can be learned through a combination of communications training, deliberate upskilling and reflecting on what works and what doesn’t.