Exploring Equine Veterinary Economics: Price Elasticity of Demand and Strategic Pricing

Veterinary Vertex

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Ever wondered how the financial landscape of equine veterinary services could impact your horse's healthcare? Join us as we explore the world of equine veterinary economics with our guests, Dr. Jill Stowe and Olivia Gibson. From the surprising results of a national survey to the revealing concept of price elasticity of demand, we unpack why horse owners' sensitivity to price might just reshape the future of veterinary care. Olivia sheds light on economic principles that highlight how strategic pricing could potentially enhance practice profitability, even when demand is elastic. This episode is a must for those interested in the intersection of economics and veterinary medicine, offering valuable insights into how pricing strategies can influence both revenue and client satisfaction.
We highlight the importance of preparing for unforeseen medical expenses and discuss why setting aside savings for your horse's healthcare is vital. Whether you're a seasoned veterinarian, an equine enthusiast, or just curious about the economics behind veterinary services, this episode promises to enlighten and engage.
JAVMA article: https://doi.org/10.2460/javma.24.09.0576

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Chapter

1. Equine Veterinary Price Elasticity Study (00:00:00)

2. Equine Veterinary Price Considerations (00:13:49)

3. Equine Research Opportunity in Jabma (00:20:56)