The Business of Practice 136: Helping Clients Afford Care with Kate Hayes

In this episode of the Business of Practice podcast, host Dr. Amy Grice interviews Kate Hayes, Vice President of Equine Expansion at CareCredit, about the financial challenges horse owners face in accessing veterinary care. Drawing on a recent CareCredit-commissioned study of over 1,200 U.S. horse owners and 30 veterinarians, Hayes reveals that the lifetime cost of horse ownership ranges from $300,000 for recreational horses to over $900,000 for competitive ones, with 85% of owners experiencing financial stress when facing unexpected vet bills. Despite strong emotional bonds and a desire to provide optimal care, many owners are unprepared for costs, especially for emergencies like colic or lameness. Hayes emphasizes the need for equine practices to build a 'financial care culture' through proactive communication, upfront cost estimates, and offering payment options like CareCredit—enabling clients to make decisions based on medical outcomes rather than financial fear. She shares practical best practices: establishing clear financial policies, normalizing cost conversations early, providing transparent estimates, and presenting financing solutions without judgment. The episode underscores that financial transparency isn’t just about revenue—it’s about trust, empathy, and ensuring horses receive the care they need without overwhelming their owners.