Pets Best Passes $100 Million Payout Milestone
The number is symbolic of the strong emphasis Pets Best puts on its mission: To save pets and end economic euthanasia by helping to ensure pet owners are financially prepared when their pets need unexpected veterinary care.
In 2012, the economic euthanasia level, also called the stop treatment point, was
"The reason I started the pet insurance industry was to end economic euthanasia," said Dr.
While the rise of the pet insurance industry has been instrumental in lowering the rates of economic euthanasia, the practice is still a constant specter in veterinary care. According to an
New advances in the veterinary field provide exciting new ways to keep pets healthy, but at a higher cost. Americans spent an estimated
"This signpost is a humbling representation of the success Pets Best has achieved in keeping owners and their beloved pets together for a full and healthy life," said
Dogs have been the recipients of the overwhelming majority of payouts, representing 88 percent of the paid claims, although they only make up 82 percent of overall policies sold. Cat claims made up the remaining 12 percent of paid claims and 18 percent of policies sold.
The top claimed conditions for canines included skin allergies, ear infections, arthritis, masses (lumps and bumps) and cruciate ligament injuries.
For the most common condition, skin allergies, the average paid claim amount was
For cruciate ligament injuries, the average claim amount was
The top feline conditions included kidney failure, hyperthyroidism, diabetes, allergies and inflammatory bowel disease.
For the top condition, chronic kidney failure, the average paid claim amount was
Policies offered by Pets Best include at least 70 percent reimbursement coverage for accidents, illnesses, cancer and hereditary or congenital conditions. A wellness plan can be added on to cover routine care items throughout the year such as vaccinations and teeth cleanings.
*http://veterinarynews.dvm360.com/veterinary-practices-performing-more-euthanasias-despite-increase-stop-treatment-point
** http://surveys.ap.org/
*** http://www.americanpetproducts.org/press_industrytrends.asp
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