Industry: Veterinary | Location: United States | Results: 1800% return on investment

Within 90 days: 47% of claims were paid with a 1,824% ROI

The veterinary industry is a thriving sector of the economy with an annual growth rate of 3.3% between 2017 and 2022. While in 2022 alone, it accounted for over $57 billion in annual revenues.

The rise in demand for veterinary services shows how important pets are to families. Every day, veterinarians use every tool at their disposal to keep pets safe and healthy. And these efforts can quickly get expensive. 

The Challenge

The North American Pet Health Insurance Association found that in 2021 only 4.9% of pets in the US were being covered by health insurance. This lack of coverage makes it difficult for many pet owners to pay for medical services. On the other hand, some pet owners may overlook payment after their pets have received these critical services. Together, the lack of coverage and unwillingness to pay results in many delinquent accounts.

In this case, our client, a veterinarian’s office, had provided a combination of life-saving emergency treatments and routine medical care to over 50 consumers. The veterinary staff attempted to retrieve monies owed to them by engaging their consumers through standard communications but were unsuccessful.

How Last Demand solved the problem

Last Demand first and foremost, protected our client’s name brand in the community.  At the same time, we achieved high collection rates by combining vetted communication practices with our advanced omnichannel technology.

During collection efforts, our client easily tracked their progress using the Last Demand metrics dashboard while automated tools processed their accounts receivable. In addition, Last Demand took a flat fee instead of a high commission rate which made it financially feasible for our client. The client’s day-to-day work involved serving their consumers and they were able to leave the tedious, detailed work of revenue recovery to Last Demand.

What’s our secret?

Last Demand studied each debtor’s profile, behavior, and other vital data points and sent demand letters via email and text messages. Debtors received white-labeled messages “directly” from our client, with an option to log in, view the claim, and pay their debt. Some debtors viewed their accounts and then paid in just over 2 minutes!

And the best part?  Our client only had to upload one file to the Last Demand platform.

The Results

Within 48 hours: the client recouped 76% of their investment
Within 30 days: 262% return on investment