Pet Healthcare Plans - Comp. Analysis

Part
01
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Part
01

Pet Wellness Plans Competitive Landscape-Part 1

Banfield Pet Hospital was founded by veterinarian Warren J. Wegert in 1955 and has Optimum Wellness Plans for puppies ranging from early care and early care plus for $40.95 and $50.95 per month, respectively. The requested information for Banfield Pet Hospital, United Pet Care, and VCA CareClub are available in columns C through E, rows three through eight of the attached spreadsheet.

BANFIELS PET HOSPITAL

  • Established by Warren J. Wegert, a veterinarian, in the year 1955, Banfield Pet Hospital has now swelled to over 975 different locations within Puerto Rico and the United States.
  • Banfield Pet Hospital provides services for pet preventive care (e.g., nutritional counseling, dental care, etc.), general surgery, emergency care (e.g., IV fluid therapy, infection treatments, etc.), and treatment services for acute illnesses and chronic conditions.
  • It has Optimum Wellness Plans for puppies, dogs, kittens, and cats with prices ranging from $26.95 to $60.95 per month.

UNITED PET CARE


VCA CARECLUB

  • In the United States, VCA CareClub operates over 1,000 animal medical institutions, employs more than 6,000 veterinarians, and has over 600 specialists that are board-certified throughout 46 states.
  • VCA CareClub's offerings include both wellness and preventative care such as early disease detection testing, spay/neuter services, and vaccination, among many others.
  • Regarding its pricing, the company charges at least $50 per month for the pets of its members.

Research Strategy:

For this request, we searched through the websites of each of the listed companies. We searched through sections such as 'About Us', plans, services, pricing, frequently asked questions, and reviews and was able to find all the requested information pre-compiled.
Part
02
of two
Part
02

Pet Wellness Plans Competitive Landscape-Part 2

Nationwide Wellness offers comprehensive health coverage for cats and dogs, starting at $35/month. Pets Best offers accident plants, starting at $6/month. Wagmo only offers routine health plans for pets starting at $15/month. The requested information for Pets Best, Nationwide Wellness, and Wagmo are available in columns F through H, rows 3-8 of the attached spreadsheet. Alternatively, the quotes for adult and baby pets (cats/dogs) pertaining to zip code 90001 are presented in the attached document file.

PETS BEST

  • In 2005, Dr. Jack Stephens founded Pets Best in the US. The company has insured more than 100,000 pets till now.
  • As of 2019, the company has processed policy claims worth more than $200 million.
  • Pets Best provides insurance plans for dogs and cats that cover accidents, illnesses, surgeries, diagnostics, medicines, cancer care, prosthetic, dental care, chronic illness, among others.
  • Premiums for pet insurance depend on the pets age, breed, location, annual limit, reimbursement level, and a yearly deductible.
  • The pricing for accident plans ranges from $6-$9 per month for cats and dogs.
  • The pricing for a comprehensive accident and illness plans range from $22-$58 per month.
  • Personalized quotes for Zip-90001 ranges from $28-$59 per month for cats and dogs (babies/adults).
  • Add-on wellness plans cover costs for neutering, rabies and tick prevention, vaccination, wellness examination, blood analysis, ERD, deworming, micro-chipping, among others.
  • The pricing for wellness plans ranges from $16-$26/month and cover costs up to $535 annually.
  • A 24x7 pet helpline powered by whiskerDocs is offered free to all Pets Best customers.

NATIONWIDE WELLNESS

  • The company was first established in 1980 as Veterinary Pet Services, Inc. (VPI) with the financial support of 750 independent veterinarians.
  • In 2008, VPI joined the Nationwide Group and was officially changed to Nationwide Wellness in 2015.
  • The company offers Whole Pet, Major Medical, and Pet Wellness Plans.
  • The plans cover exams, routine checks, vaccination, cancer, congenital, lab tests, prescriptions, chronic illness, surgeries, hospitalization, and some hereditary conditions.
  • Insurance plans start at $35/month with personalized quotes for Zip-90001 ranging from $20-$76 for cats and dogs (babies/adults).
  • Pet wellness plans cost about $12-$22/month, providing maximum annual reimbursements of up to $500.
  • A live veterinary helpline valued at $150/year is provided to all members free of charge.

WAGMO

  • Christie Horvath founded the company in 2018 in the Greater Boston Area.
  • Wagmo offers monthly wellness plans for routine care services like annual exams, flea and tick medicines, teeth cleaning, vaccines, boosters, and grooming.
  • Wagmo does not cover any costs incurred due to emergency care and catastrophic care like accidents or surgeries.
  • The company offers three plans for cats and dogs ranging from $15-$50 per month.
  • All plans are priced the same for cats and dogs, regardless of their age, breed, size, and preexisting conditions.
  • Signing up for annual plans enable customers to get 1-month free coverage for their pets.
  • All claims are reimbursed within 24 hours of submission.
Sources
Sources