MediWallet
ADVERTORIAL
VETERINARY FINANCE
Finance Options
GROW YOUR PRACTICE WITH MEDIWALLET VETERINARY FINANCE
REDUCE YOUR BAD DEBT
for Veterinary Clients
IMPROVE
YOUR CASH
FLOW
With more people unable to afford unex-
pected veterinary costs, MediWallet pro-
vides your customer with an easy method
to finance their purchase in your practice.
BENEFITS:
GET
SETTLED
WEEKLY
NO
BAD DEBT
• We take your bad debt
• We settle you weekly
• Higher invoice value
• No integration cost
• SMS Pre-Approval within seconds
• Established client base
For more information:
[email protected]
0861 007709
or sign up at www.mediwallet.co.za
By Bruce McIntosh
MediWallet | Tel: 041 507 0492 | Cell: 079 885 3147 | www.mediwallet.co.za
Many pets struggle with medical problems, especial-
ly as they age. The cost of healthcare has been in-
creasing well above inflation for a number of years.
Pet owners who need to make a large payment have
a few options to consider when deciding how to pre-
pare for unforeseen medical expenses for their pets,
namely:
• Simply saving money for a rainy day;
• Pet insurance; and
• A medical credit card: For example the MediWal-
let. Think of a regular credit card specific to medical expenditure,
which is only accepted at a network of accredited medical
or veterinary facilities. The MediWallet is designed to assist
customers make a large upfront payment and then have the
ability to repay it over 18 months. Like any credit card there
is an interest charge as well as a monthly administration fee.
There are no penalties for pre-payment. So if you can settle
the outstanding balance say after 6 months then there is no
early settlement charge. MediWallet credit can be used at all
MediWallet accredited partners. As with all revolving credit
facilities the balance becomes available once it is repaid.
Having a dedicated savings account is a great idea
but in reality it often doesn’t happen. There is also the
risk of incurring a large bill before you have had the
time to save enough money. Even if your savings have
reached maturity there is always the risk that an unex-
pected emergency will cost substantially more than
your savings. From the perspective of the veterinarian, a primary benefit
of the MediWallet is that it replaces in-house accounts or
payment plans. It is understandably hard to digest writing
off bad debt however, what is often not considered is the
time invested in recovering outstanding debts. Veterinarians
should focus on doing what they do best, which is providing
quality healthcare to animals.
Pet insurance is just that – health insurance for your
pet. Like your own health insurance, you are required
to pay a monthly premium which only pays out in the
event of a medical emergency, trauma, or disease etc.
Unlike a medical credit card pet insurance won’t cov-
er every cost. Certain conditions, such as pre-existing
or preventable conditions, may not be covered. In
most policies a co-payment is also required. If you are a veterinarian trying to decide between pet insur-
ance or medical credit cards, my advice would be to accept
both options. The products are designed to target different
customers, offering alternative options, making your prac-
tice more appealing to a wider audience.
This is where the product MediWallet becomes useful.
MediWallet is a line of credit that can be used to cover
any veterinary costs including those not covered by
pet insurance. MediWallet can be used for your own
health care expenses, as well as those of your pets.
vet360
Issue 03 | JUNE 2017 | 6
Pet insurance is a good option for those comfortable to
make monthly pre-payments, whereas MediWallet caters for
customers who can’t make a lump sum payment immedi-
ately, but can afford the procedure over 18 months.
To qualify for a MediWallet account simply send us an SMS to
48832 in the follow format: Name*Surname*ID Number*-
Gross Monthly Salary