URvet Care Taps Trupanion to Offer Seamless Payment Solution for Veterinary Care

Rhea-AI Summary

URvet Care has announced a partnership with Trupanion (TRUP) to implement their Vet Direct Pay solution, joining over 11,000 veterinary hospitals across North America. This collaboration enables Trupanion to directly pay their portion of pet medical bills to URvet Care at checkout in under a minute, addressing a significant financial barrier in veterinary care. According to Trupanion's survey data, pet parents typically stop treatment when costs reach $1,500. This partnership aims to reduce financial stress for pet owners and allow veterinary staff to focus on providing optimal care without concerns about payment uncertainty.

Positive

• Partnership expands Trupanion's network to over 11,000 veterinary hospitals
• Direct payment system processes claims in less than one minute
• Addresses $1,500 treatment threshold barrier, potentially increasing service utilization

Negative

• None.

News Market Reaction

-0.70%

1 alert

-0.70% News Effect

On the day this news was published, TRUP declined 0.70%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

NEW YORK, Dec. 17, 2024 /PRNewswire/ -- URvet Care, a trusted provider of exceptional veterinary care, is proud to announce its collaboration with Trupanion, a leading provider of pet medical insurance for cats and dogs. This collaboration allows URvet Care to help pet parents through Trupanion's innovative Vet Direct Pay solution.

Trupanion is the only pet insurer in North America capable of paying their portion of a client's invoice directly to the treating hospital at the time of checkout – in less than a minute, on average. With this partnership, URvet Care joins more than 11,000 veterinary hospitals across North America that have adopted this payment solution.

"We're excited to work with Trupanion to bring a better payment experience to pet parents", said Amanda Stoopler, Co-Founder and Chief Creative Officer at URvet Care. "This relationship not only benefits Trupanion members and their pets, but also supports our hospital team by reducing the stress of financial uncertainty. Our focus can remain on delivering the best possible care for every pet."

According to Trupanion survey data of veterinarians in Canada and the United States, the average dollar threshold that pet parents stop treatment is $1,500. By accepting direct payment from Trupanion, URvet Care is helping to alleviate this financial burden, ensuring that pet parents can pursue the best course of treatment without worrying about upfront costs.

About URvet Care
URvet Care is committed to delivering high-quality, compassionate care to pets and their families in New York. With a team of experienced professionals and a full range of services, we strive to ensure that every pet lives a healthy, happy life.

About Trupanion
Trupanion is a leader in medical insurance for cats and dogs throughout the United States, Canada, Europe, Puerto Rico and Australia with over 1,000,000 pets enrolled. For over two decades, Trupanion has given pet parents peace of mind so they can focus on their pet's recovery, not financial stress. Trupanion is committed to providing pet parents with the highest value in pet medical insurance with unlimited payouts for the life of their pets. With its patented process, Trupanion is the only North American provider with the technology to pay veterinarians directly in seconds at the time of checkout. Trupanion is listed on NASDAQ under the symbol "TRUP". The company was founded in 2000 and is headquartered in Seattle, WA, USA. Trupanion policies are issued, in the United States, by its wholly-owned insurance entity American Pet Insurance Company and, in Canada, by Accelerant Insurance Company of Canada. Trupanion Australia is a partnership between Trupanion and Hollard Insurance Company. Policies are sold and administered by Trupanion Managers USA, Inc. (CA license No. 0G22803, NPN 9588590). For more information, please visit trupanion.com.

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SOURCE URvet Care

FAQ

How many veterinary hospitals now use Trupanion's Vet Direct Pay solution?

Over 11,000 veterinary hospitals across North America have adopted Trupanion's Vet Direct Pay solution.

What is the average cost threshold where pet parents stop treatment according to Trupanion's survey?

According to Trupanion's survey data of veterinarians in Canada and the United States, pet parents typically stop treatment when costs reach $1,500.

How quickly does Trupanion's Vet Direct Pay process payments to veterinary hospitals?

Trupanion processes direct payments to veterinary hospitals in less than one minute on average at the time of checkout.

What makes Trupanion's payment solution unique in North America?

Trupanion is the only pet insurer in North America that can pay their portion of a client's invoice directly to the treating hospital at the time of checkout.