IDEXX Launches Vello™, an Innovative Pet Owner Engagement Software Solution, Streamlining How Practices and Clients Connect

Rhea-AI Summary

IDEXX Laboratories, Inc. launches Vello, a pet owner engagement solution, showing an average 19% reduction in no-show rates. Vello streamlines communication between veterinary practices and pet owners, improving practice efficiency and client relationships. Key features include automated appointment reminders, health service reminders, online scheduling, pet owner mobile experience, two-way texting, and pre-appointment instructions. Vello will be available for ezyVet, Neo, and Cornerstone software in the U.S. in March 2024 and Canada in Q2.

Insights

Market Research Analyst

The introduction of Vello by IDEXX Laboratories represents a significant advancement in veterinary practice management software, aiming to streamline communication between veterinary practices and pet owners. The reported 19% reduction in no-show rates among initial users is a strong indicator of the potential efficiency gains and revenue optimization for veterinary clinics. This is particularly relevant as the veterinary services market is highly competitive and practices are continuously seeking ways to improve operational efficiency and client engagement.

From a market perspective, the adoption of Vello could lead to increased customer loyalty and retention for IDEXX, as the integration of communication tools within existing practice management software can enhance the overall client experience. The ease of scheduling, automated reminders and a mobile-friendly interface align with the broader trend of digitalization in customer service across industries. As veterinary practices become more efficient and client-centric, IDEXX may see a rise in demand for its software solutions, potentially impacting its market share and revenue growth positively.

Financial Analyst

The financial implications of the Vello software launch are multifaceted. Firstly, the transition to a subscription-based model for the service could provide IDEXX with a stable and predictable revenue stream, a favorable factor for investors. The scalability of software solutions like Vello implies that IDEXX could leverage its existing customer base to upsell this new service, thereby increasing its average revenue per user (ARPU).

However, it is crucial to monitor the adoption rate post-launch in the U.S. and Canada, as it will be a key determinant of Vello's financial success. The initial reduction in no-show rates is promising, but the long-term financial impact will depend on the software's ability to retain users and demonstrate consistent value. Additionally, ongoing investment in the multi-year roadmap for Vello indicates that IDEXX is committed to continuous innovation, which could lead to further development costs. Investors should weigh these potential expenses against the anticipated growth in subscription revenues.

Veterinary Industry Expert

Within the veterinary industry, the integration of Vello into IDEXX's practice management software suite addresses a critical pain point—inefficient client communication. By providing a centralized platform for engagement, Vello could potentially set a new standard for client-veterinary interactions. This is particularly important as the industry faces challenges like staff shortages and increasing demand for pet care services.

The emphasis on a seamless pet owner mobile experience and two-way texting reflects an understanding of modern consumer expectations for convenience and immediacy. If Vello delivers on its promise to improve diagnostic compliance and streamline pre-appointment processes, it could lead to better health outcomes for pets and a more proactive approach to pet healthcare. This, in turn, could influence industry practices, prompting a shift towards more integrated and client-focused care solutions.

Initial Vello Users Show an Average 19% Reduction in No-Show Rate, Enabling More Clinical Visits

WESTBROOK, Maine, Feb. 15, 2024 /PRNewswire/ -- IDEXX Laboratories, Inc. (NASDAQ: IDXX), a global leader in pet healthcare innovation, announces the launch of Vello, a software solution that seamlessly connects veterinary practices and clients through modern, digital tools. As the only pet owner engagement solution purpose-built for IDEXX practice management software, Vello enables veterinary practices using ezyVet^®, Neo^®, and Cornerstone^® software to communicate efficiently with pet owners in a single, easy-to-use system. With software-supported engagement across the life stages of a pet, pet owners become informed partners in care—supporting better health outcomes. IDEXX's Vello solution will be available as a new subscription service for ezyVet, Neo, and Cornerstone software in the U.S. in March 2024 and Canada in Q2.

Veterinary professionals frequently cite client communication as one of the top challenges in achieving a more efficient practice,¹ and 85% of practices indicate that poor integrations are a contributing factor to inefficiencies.² Existing communication workflows are cumbersome, requiring frequent switching between phone calls, emails, and messaging solutions. Now, Vello software allows practices to engage with pet owners pre- and post-visit through an intuitive solution purpose-built for their practice management software. 

"Practice productivity continues to be a top priority for veterinary clinics, and we are dedicated to delivering cloud-based software that creates efficiencies," said Jay Mazelsky, President and Chief Executive Officer of IDEXX. "With the Vello solution, practices can streamline workflows by managing pet owner communications within their existing practice management software, fostering stronger client relationships and improving care for pets."

The Vello solution includes a robust multi-year roadmap, with the following key features available at launch:

• Automated appointment reminders and confirmations that reduce no-shows and save valuable time for teams.
• Health service reminders that inform pet owners of upcoming or past-due services, such as vaccinations or annual wellness visits.
• Online scheduling that enables pet owners to conveniently request appointments directly from health service reminders or through the Vello software.
• Pet owner mobile experience that eliminates the need for an application download, providing full digital access to pet health records, appointment information, prescription history, test results, and more, all from a mobile web browser.
• Two-way texting that enables immediate connection with pet owners, automatically updating the patient record and communication log without character count limitations or extra fees.
• Pre-appointment instructions that drive both visit and diagnostic compliance, including fecal or urine sample reminders, drop-off and pickup times, and recommended blood work.

"Vello automates the way we engage with clients, eliminating duplicative administrative work, which has saved our team hours weekly and has significantly reduced no-shows and cancellations," said Dr. Kendall Snyder, Animal Care Clinic, North Canton, Ohio. "Since starting with Vello on ezyVet, my staff feels like they're partnering with the client so we can provide the best care possible for all of our patients—and our clients are loving the Vello experience too, from easy communication tools to having their pet's records just a click away."

For more information, please visit the Vello page, or visit the IDEXX Veterinary Software booth (#1021) at the WVC Annual Conference, taking place February 18-21, 2024, in Las Vegas, Nevada.

About IDEXX
IDEXX is a global leader in pet healthcare innovation. Our diagnostic and software products and services create clarity in the complex, constantly evolving world of veterinary medicine. We support longer, fuller lives for pets by delivering insights and solutions that help the veterinary community around the world make confident decisions—to advance medical care, improve efficiency, and build thriving practices. Our innovations also help ensure the safety of milk and water across the world and maintain the health and well-being of people and livestock. IDEXX Laboratories, Inc. is a member of the S&P 500® Index. Headquartered in Maine, IDEXX employs nearly 11,000 people and offers solutions and products to customers in more than 175 countries and territories. For more information about IDEXX, visit: www.idexx.com.

Note Regarding Forward-Looking Statements
This news release contains or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as "expects," "may," "anticipates," "intends," "would," "will," "plans," "believes," "estimates," "should," "project," and similar words and expressions. These forward-looking statements are intended to provide our current expectations or forecasts of future events; are based on current estimates, projections, beliefs, and assumptions; and are not guarantees of future performance. Actual events or results may differ materially from those described in the forward-looking statements. These statements are subject to risks, uncertainties, assumptions, and other important factors. Readers are cautioned not to put undue reliance on such forward-looking statements because actual results may vary materially from those expressed or implied. The reports filed by IDEXX pursuant to United States securities laws contain discussions of some of these risks and uncertainties. IDEXX assumes no obligation to, and expressly disclaims any obligation to, update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Readers are advised to review IDEXX's filings with the United States Securities and Exchange Commission (which are available from the SEC's EDGAR database at sec.gov and via IDEXX's website at idexx.com).

¹ Today's Veterinary Practice, IDEXX UX Research, March 2021
² Finding the Time: Empowering Veterinary Teams to Get the Most Out of Every Day, IDEXX publication: https://pages.idexx.com/practice-productivity_en-us

View original content to download multimedia:https://www.prnewswire.com/news-releases/idexx-launches-vello-an-innovative-pet-owner-engagement-software-solution-streamlining-how-practices-and-clients-connect-302062340.html

SOURCE IDEXX Laboratories, Inc.

FAQ

What is the name of the pet owner engagement solution launched by IDEXX Laboratories, Inc.?

The pet owner engagement solution launched by IDEXX Laboratories, Inc. is called Vello.

What reduction in no-show rates have initial Vello users shown on average?

Initial Vello users have shown an average 19% reduction in no-show rates.

When will the Vello solution be available for ezyVet, Neo, and Cornerstone software in the U.S.?

The Vello solution will be available for ezyVet, Neo, and Cornerstone software in the U.S. in March 2024.

Where will the Vello solution be available in Q2?

The Vello solution will be available in Canada in Q2.

What are some key features of the Vello solution?

Key features of the Vello solution include automated appointment reminders, health service reminders, online scheduling, pet owner mobile experience, two-way texting, and pre-appointment instructions.