We do, from Trupanion. That is the only company that gives us immediate claims processing and direct deposit, so we know what to collect from the client at the time of the visit.
With the other pet insurance companies, we can submit the claim, then wait 7–14 days for payment, then bill the client for the remainder. Of that remainder, I would expect to actually collect 80%.
Unfortunately, accounts receivable for veterinary practices is a nightmare. You may be surprised how reluctant clients are to pay us, and our accounts are so much smaller than those from human medical providers that collection rarely do more for us than send a series of letters, and maybe one or two phone calls. There just isn’t enough money in the agency’s 40–50% of $250–500 for them to invest the hard costs and an employee’s time to actively pursue our accounts.
A huge problem with letting clients owe us money is that it damages the relationship. Not only do we not get paid, but the client then feels guilty about the debt, so goes elsewhere when they need further veterinary care. Lose-lose.
As soon as all pet insurance companies provide immediate decisions on claim payment, veterinary practices will be able to let clients out the door without paying in full then getting reimbursed.