Direct revenue to hospitals at the time of invoice – is this the new norm?
SEATTLE, Nov. 09, 2018 (GLOBE NEWSWIRE) — Trupanion, Inc.’s (Nasdaq: TRUP) patented software has enabled over $67 million in veterinary bills to be paid on behalf of pet owners directly to the veterinary hospital within minutes of claims being digitally transmitted. Trupanion is the only pet medical insurance company with the technology to pay veterinary hospitals directly at the time of service.
Thousands of veterinary hospitals across the U.S. and Canada have downloaded Trupanion’s patented software which is proving to be a game changer for veterinary practices. The software has provided unparalleled service for pet owners across North America. Since 2014, through this patented technology, over a quarter million veterinary invoices have been paid directly to hospitals by Trupanion, helping more than 43,000 pets receive the best veterinary care.
“Trupanion’s software has helped revolutionize how we practice,” said Dr. Natalie Marks, medical director of Blum Animal Hospital in Chicago. “Within minutes, our clients can confirm their responsibility for a pet’s claim, helping to remove difficult and emotionally charged, financial decisions from the exam room conversation.”
The increase in specialty and referral centers has led to an advancement in treatment and medical care, which is, in turn, leading to rising treatment costs overall. As pet owners have more options for care to choose from, decisions become increasingly complex and often come down to affordability.
Trupanion’s patented software enables almost real-time payment directly to a veterinary hospital, and it’s making a difference for pets, pet owners, and veterinary health care teams.
“As veterinarians, one of the most difficult conversations that we face today is talking to our clients about the expense of medical treatment for their pet and seeing these people go through heart-wrenching decisions on whether or not they can afford the care their pet needs,” said Dr. Marks. “But fortunately, it doesn’t have to be that way for pets who are protected with quality medical insurance.”
After suffering from inflammatory bowel disease, broken bones, a rattlesnake bite, a laceration on his paw, and a serious infection within his first two years of life, Labrador Retriever Grizz had accumulated nearly $50,000 in veterinary bills.
Fortunately, Grizz has been covered by Trupanion since he was eight weeks old. Thanks to Trupanion’s software, Laura, Grizz’s owner, did not have to front the cost of Grizz’s veterinary care and wait weeks for a check in the mail wondering whether his treatment would be covered. Instead Laura left her hospital paying only her portion, and Trupanion paid the vast majority of the bill, directly to the hospital as she walked out of the door.
“It’s a win for the pet, it’s a win for the owner, and a win for the hospital,” says Trupanion’s Chief Product Officer, Dr. Steve Weinrauch. “We’re excited our software is the catalyst for such change and that we’re ultimately helping more pets get the care they deserve.”
About Trupanion
Trupanion is a leader in medical insurance for cats and dogs throughout the United States and Canada, insuring more than 500,000 pets. For almost two decades, Trupanion has given pet owners peace of mind so they can focus on their pet’s recovery, not financial stress. Trupanion is committed to providing pet owners with the highest value in pet medical insurance with unlimited payouts for the life of their pets. Trupanion is listed on NASDAQ under the symbol “TRUP”. The company was founded in 2000 and is headquartered in Seattle, WA. Trupanion policies are issued, in the United States, by its wholly-owned insurance entity American Pet Insurance Company and, in Canada, by Omega General Insurance Company. For more information, please visit trupanion.com
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