The study, titled “Descriptive analysis of the use of and preferences for equine veterinary services,” provides a comprehensive picture of how American horse owners use equine veterinary services. Conducted by researchers from the Department of Agricultural Economics and Department of Veterinary Science at the Maxwell H. Gluck Equine Research Center, the study highlights the financial constraints that affect horse owners’ ability to access health care for their horses.

A Major Factor: Financial Constraints

Financial constraints emerged as a major factor affecting how owners interact with their veterinarians. The study found that annual vaccinations and routine lameness exams seemed to align reasonably well with what most people expect to pay ($150 and $200, respectively). However, ways to treat colic stood out as a significant factor. Colic is a general term indicating abdominal pain in horses. It has many causes but can often be prevented with proper management or treated. In serious cases, a horse may require a serious and potentially life-saving surgical procedure. The study found that more than 60% of owners indicated that they would pay $5,000 or less for emergency colic surgery. However, the actual cost for colic surgery and aftercare can far exceed $5,000, depending on the severity. This highlights the financial hurdle that many horse owners may face if their horse develops a life-threatening colic.

• Only about 14% of respondents maintain a dedicated savings account for medical emergencies.
• Close to 80% of respondents do not insure their horses.
• Many owners face limits on covering unexpected costs.

The Importance of Insurance and Financial Planning

The study’s findings point to the importance of educating horse owners about insurance and financial planning. The lack of insurance and savings plans can leave owners with significant financial burdens if their horse requires costly medical care. The study’s results suggest that veterinarians must balance providing high-quality care with managing billing, especially if owners cannot pay in full at the time of treatment.

The Veterinary Profession’s Response

In response to the study’s findings, the veterinary profession is exploring new financial approaches to delivering care. Some veterinarians are requiring payment at the time of service, designating on-call veterinarians instead of personal vets for nonemergency visits, and offering telemedicine services.

• More than two-thirds of respondents said they were “very concerned” about ensuring sufficient care in years to come.
• Many respondents expressed concern about shortages of equine veterinarians and the demands placed on practitioners.
• The study’s findings highlight the need for education and innovation in the equine veterinary profession.

Opportunities for Education and Innovation

The study’s findings point to opportunities for both education and innovation. Horse owners who find themselves financially unprepared can consider exploring insurance, saving plans, or other financing options. Equine veterinarians, meanwhile, may benefit from offering alternative payment plans or educational resources on preventive care to help owners better manage costs.

“Most owners are aware of issues like vet shortages affecting the industry. By better understanding what horse owners want and what they are able to pay, practices can develop new business models that are both profitable and appealing to clients,” said Jill Stowe, professor in the Department of Agricultural Economics and corresponding study author.

Conclusion

The study highlights the financial barriers that affect horse owners’ ability to access health care for their horses. The findings suggest that education and innovation are key to addressing these barriers and ensuring that horse owners can access the care they need. By understanding what horse owners want and what they are able to pay, equine veterinary practices can develop new business models that are both profitable and appealing to clients.