Factors of Willingness to Pay for Equine Veterinary Services
Authors: Olivia Gibson, Shuoli Zhao, C. J. Stowe
Journal: Journal of Agricultural and Applied Economics
Summary
# Editorial Summary: Understanding What Horse Owners Will Pay for Veterinary Care Financial capacity and household income emerge as the strongest predictors of what US horse owners are willing to spend on veterinary services, according to research analysing responses from a nationwide survey that examined attitudes towards routine vaccinations, lameness examinations, and emergency colic surgery. Using interval regression modelling on data collected via payment card methodology, Gibson and colleagues identified that the number of horses owned significantly influenced willingness-to-pay (WTP) across all three service categories, suggesting that multi-horse operations may have different financial constraints or perceived value thresholds than single-horse owners. Beyond these economic factors, the research demonstrates meaningful variation in WTP between routine preventive care, elective diagnostics, and emergency interventions—distinctions that merit careful consideration when discussing treatment options and fees with clients. For equine practitioners, these findings underscore the importance of understanding individual financial circumstances and herd size when presenting treatment recommendations, whilst highlighting that pricing strategies and payment communication may need to be tailored to different client demographics. This work provides evidence-based context for practice management discussions around fee-setting and client retention, particularly relevant as veterinary costs continue to shape decision-making in equine healthcare.
Read the full abstract on the publisher's site
Practical Takeaways
- •Understand your clients' financial constraints when recommending services—income level and number of horses owned are strong predictors of what clients can afford
- •Tailor your treatment discussions and payment options to reflect client capacity; offering flexible payment plans may improve compliance with recommended care
- •Use these findings to adjust pricing strategy and communication style based on practice demographics to improve client satisfaction and practice sustainability
Key Findings
- •Financial capacity, income level, and number of horses owned significantly predict willingness-to-pay across routine, elective, and emergency veterinary services
- •Willingness-to-pay varies by service type with distinct patterns for vaccinations, lameness exams, and emergency colic surgery
- •Study identifies key client demographic factors affecting acceptance of veterinary treatment recommendations