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URvet Care Taps Trupanion to Offer Seamless Payment Solution for Veterinary Care

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URvet Care has announced a partnership with Trupanion (TRUP) to implement their Vet Direct Pay solution, joining over 11,000 veterinary hospitals across North America. This collaboration enables Trupanion to directly pay their portion of pet medical bills to URvet Care at checkout in under a minute, addressing a significant financial barrier in veterinary care. According to Trupanion's survey data, pet parents typically stop treatment when costs reach $1,500. This partnership aims to reduce financial stress for pet owners and allow veterinary staff to focus on providing optimal care without concerns about payment uncertainty.

URvet Care ha annunciato una partnership con Trupanion (TRUP) per implementare la loro soluzione Vet Direct Pay, unendosi a oltre 11.000 ospedali veterinari in Nord America. Questa collaborazione consente a Trupanion di pagare direttamente la propria parte delle spese veterinarie a URvet Care al momento del checkout in meno di un minuto, affrontando una significativa barriera finanziaria nelle cure veterinarie. Secondo i dati dell'indagine di Trupanion, i proprietari di animali di solito interrompono il trattamento quando i costi raggiungono i 1.500 dollari. Questa partnership mira a ridurre lo stress finanziario per i proprietari di animali e a permettere al personale veterinario di concentrarsi sulla fornitura di cure ottimali senza preoccupazioni riguardo all'incertezza dei pagamenti.

URvet Care ha anunciado una asociación con Trupanion (TRUP) para implementar su solución Vet Direct Pay, uniéndose a más de 11,000 hospitales veterinarios en América del Norte. Esta colaboración permite a Trupanion pagar directamente su parte de las facturas médicas de mascotas a URvet Care en el momento de la compra en menos de un minuto, abordando una importante barrera financiera en la atención veterinaria. Según los datos de la encuesta de Trupanion, los dueños de mascotas normalmente interrumpen el tratamiento cuando los costos alcanzan los $1,500. Esta asociación tiene como objetivo reducir el estrés financiero para los dueños de mascotas y permitir al personal veterinario concentrarse en brindar la mejor atención sin preocupaciones sobre la incertidumbre en los pagos.

URvet CareTrupanion (TRUP)과 파트너십을 맺고 그들의 Vet Direct Pay 솔루션을 구현한다고 발표했습니다. 이는 북미 전역의 11,000개 이상의 수의병원에 동참하는 것입니다. 이 협력은 Trupanion이 결제 시 1분 이내에 URvet Care에 애완동물 의료비의 일부를 직접 지불할 수 있도록 하여 수의료에서의 중요한 재정적 장벽을 해소합니다. Trupanion의 설문 데이터에 따르면, 애완동물 주인은 보통 비용이 1,500달러에 도달할 때 치료를 중단합니다. 이 파트너십은 애완동물 소유자의 재정적 스트레스를 줄이고 수의사 직원이 지불 불확실성에 대한 우려 없이 최적의 치료를 제공하는 데 집중할 수 있도록 하는 것을 목표로 합니다.

URvet Care a annoncé un partenariat avec Trupanion (TRUP) pour mettre en œuvre leur solution Vet Direct Pay, rejoignant ainsi plus de 11 000 hôpitaux vétérinaires en Amérique du Nord. Cette collaboration permet à Trupanion de payer directement sa part des frais médicaux pour animaux à URvet Care lors du paiement en moins d'une minute, en s'attaquant à un obstacle financier considérable dans les soins vétérinaires. Selon les données d'enquête de Trupanion, les propriétaires d'animaux arrêtent généralement le traitement lorsque les coûts atteignent 1 500 dollars. Ce partenariat vise à réduire le stress financier des propriétaires d'animaux et à permettre au personnel vétérinaire de se concentrer sur la fourniture de soins optimaux sans écueils dus à l'incertitude des paiements.

URvet Care hat eine Partnerschaft mit Trupanion (TRUP) angekündigt, um deren Vet Direct Pay-Lösung einzuführen und sich so über 11.000 Tierkliniken in Nordamerika anzuschließen. Diese Zusammenarbeit ermöglicht es Trupanion, seinen Anteil an den Tierarztkosten direkt an URvet Care an der Kasse in weniger als einer Minute zu zahlen und damit eine erhebliche finanzielle Hürde in der tierärztlichen Versorgung abzubauen. Laut Umfrageergebnissen von Trupanion brechen Tierhalter in der Regel die Behandlung ab, wenn die Kosten 1.500 Dollar erreichen. Ziel dieser Partnerschaft ist es, den finanziellen Druck auf Haustierbesitzer zu verringern und dem veterinärmedizinischen Personal zu ermöglichen, sich auf die optimale Versorgung zu konzentrieren, ohne sich um Zahlungsschwierigkeiten sorgen zu müssen.

Positive
  • Partnership expands Trupanion's network to over 11,000 veterinary hospitals
  • Direct payment system processes claims in less than one minute
  • Addresses $1,500 treatment threshold barrier, potentially increasing service utilization
Negative
  • None.

Insights

The partnership between URvet Care and Trupanion represents an incremental expansion of Trupanion's payment network, adding to their existing base of 11,000+ veterinary hospitals. This collaboration strengthens Trupanion's competitive moat in the pet insurance industry, as they remain the only provider offering real-time direct payments to veterinary clinics.

The $1,500 treatment threshold cited in the article highlights a significant market opportunity. By removing financial barriers at the point of care, Trupanion can potentially drive higher claims utilization and customer satisfaction, leading to better retention rates. However, the immediate financial impact appears modest given URvet's single location presence in the broader veterinary market.

This strategic move aligns with growing pet healthcare spending trends and increasing pet insurance adoption rates. The direct payment solution addresses a critical pain point in the veterinary care market - the upfront cost barrier that often leads to delayed or declined treatment. By expanding their payment network, Trupanion enhances their value proposition to both veterinary practices and pet owners.

The partnership demonstrates Trupanion's continued execution of their network expansion strategy, which is important for maintaining their competitive advantage in the pet insurance space. While positive, this single partnership is unlikely to materially impact Trupanion's near-term financial performance given their already extensive network.

NEW YORK, Dec. 17, 2024 /PRNewswire/ -- URvet Care, a trusted provider of exceptional veterinary care, is proud to announce its collaboration with Trupanion, a leading provider of pet medical insurance for cats and dogs. This collaboration allows URvet Care to help pet parents through Trupanion's innovative Vet Direct Pay solution.

Trupanion is the only pet insurer in North America capable of paying their portion of a client's invoice directly to the treating hospital at the time of checkout – in less than a minute, on average. With this partnership, URvet Care joins more than 11,000 veterinary hospitals across North America that have adopted this payment solution.

"We're excited to work with Trupanion to bring a better payment experience to pet parents", said Amanda Stoopler, Co-Founder and Chief Creative Officer at URvet Care. "This relationship not only benefits Trupanion members and their pets, but also supports our hospital team by reducing the stress of financial uncertainty. Our focus can remain on delivering the best possible care for every pet."

According to Trupanion survey data of veterinarians in Canada and the United States, the average dollar threshold that pet parents stop treatment is $1,500. By accepting direct payment from Trupanion, URvet Care is helping to alleviate this financial burden, ensuring that pet parents can pursue the best course of treatment without worrying about upfront costs.

About URvet Care
URvet Care is committed to delivering high-quality, compassionate care to pets and their families in New York. With a team of experienced professionals and a full range of services, we strive to ensure that every pet lives a healthy, happy life.

About Trupanion
Trupanion is a leader in medical insurance for cats and dogs throughout the United States, Canada, Europe, Puerto Rico and Australia with over 1,000,000 pets enrolled. For over two decades, Trupanion has given pet parents peace of mind so they can focus on their pet's recovery, not financial stress. Trupanion is committed to providing pet parents with the highest value in pet medical insurance with unlimited payouts for the life of their pets. With its patented process, Trupanion is the only North American provider with the technology to pay veterinarians directly in seconds at the time of checkout. Trupanion is listed on NASDAQ under the symbol "TRUP". The company was founded in 2000 and is headquartered in Seattle, WA, USA. Trupanion policies are issued, in the United States, by its wholly-owned insurance entity American Pet Insurance Company and, in Canada, by Accelerant Insurance Company of Canada. Trupanion Australia is a partnership between Trupanion and Hollard Insurance Company. Policies are sold and administered by Trupanion Managers USA, Inc. (CA license No. 0G22803, NPN 9588590). For more information, please visit trupanion.com.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/urvet-care-taps-trupanion-to-offer-seamless-payment-solution-for-veterinary-care-302334057.html

SOURCE URvet Care

FAQ

How many veterinary hospitals now use Trupanion's Vet Direct Pay solution?

Over 11,000 veterinary hospitals across North America have adopted Trupanion's Vet Direct Pay solution.

What is the average cost threshold where pet parents stop treatment according to Trupanion's survey?

According to Trupanion's survey data of veterinarians in Canada and the United States, pet parents typically stop treatment when costs reach $1,500.

How quickly does Trupanion's Vet Direct Pay process payments to veterinary hospitals?

Trupanion processes direct payments to veterinary hospitals in less than one minute on average at the time of checkout.

What makes Trupanion's payment solution unique in North America?

Trupanion is the only pet insurer in North America that can pay their portion of a client's invoice directly to the treating hospital at the time of checkout.

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