The advance of medical technology is at warp speed; health care is constantly evolving and offering better and more advanced treatment options for both humans and pets, alike. The cost of these advancements is ever-increasing, as well. Human health-care and veterinary care costs continue to rise as the advancement and demand for newer, better treatments develop. Still the cost of veterinary care is only a fraction of the cost of the same procedures in human medicine. 
Veterinary medicine is becoming more highly specialized than ever nowadays. Just 10 years ago, most veterinary clinics were small, private clinics in both rural and urban areas that performed most treatments and procedures in-house and occasionally referred more difficult cases to a veterinary teaching hospital. Today, more and more veterinary specialists are practicing in large private referral/specialty hospitals and the demand for their services just continues to rise. Pet owners are continuing to demand better and more specialized treatment for their animals. Cataract surgeries with lens implants are being performed on dogs; laparoscopic surgery, orthopedic surgery, endoscopy, echocardiography, magnetic resonance imaging (MRI), Computed Tomography (CT) and allergy testing procedures are all being performed daily at these specialty hospitals; and even at some small clinics today. Most of these specialty hospitals are by referral only and work with the regular veterinarian to diagnose and treat advanced cases.
Money is a consideration for the majority of people when dealing with the cost of health care for animals, according to an Associated Press-Petside.com poll conducted by GfK Roper Public Affairs & Media.
While most pet owners, 62 percent, would likely get vet care if the bill was $500, the percentage drops below half when the cost hits $1,000. The number drops to 35 percent if the cost is $2,000 and to 22 percent if it reaches $5,000.
In our clinic, these numbers would be pretty close to what we actually see, in terms of actual decisions versus a survey report; however, I think the actual numbers are a little lower in all respects. Nevertheless, the cost of good veterinary care and the standards of veterinary practice have definately increased with the demand for it. This is making it increasingly difficult for some owners to afford the care that they desire for their animals. This situation often leads to pet euthanasia; but the issue of pet euthanasia is confounded by children and a stronger emotional attachment to pets these days, than in the past. We often will do what we have to, especially when children are involved. So when faced with a pet that is going to require a large, unexpected veterinary bill, it seems pet insurance may serve a need.
Many veterinarians seemed to foresee the day when pet health insurance would be available due to this rise in veterinary costs and the associated demand for newer and better care. That day has come; pet health insurance is becoming more and more popular, being offered by many employers as benefits to employees, and in many cases makes good sense. However, not all pet insurance policies are the same, and there are a few important things that differ about pet health insurance and people health insurance.
Most policies will exclude pre-existing conditions, so be aware of that before you buy. This makes it unattractive for older pets; however, covering younger pets seems to make alot of sense. Unlike human health care, the veterinary community has always been and remains today, a cash-and-carry type of system. In addition there is no system in place for Veterinarians to recieve payment from pet health insurers. So this means, pet owners must still have the money to pay their veterinary bills up front, and then be reimbursed by the pet health insurer. This may seem a bit of an inconvienience but it allows pet owners to use any veterinarian they choose with no exclusions.
Read the plans carefully before you buy insurance, different companies offer different benefits. VPI pet insurance is the nation's oldest and largest pet health insurance provider; this company blazed the trail for pet insurance in the U.S. According to the American Animal Hospital Association, VPI pays more claims annually than all other pet insurance companies combined. They offer three benefit packages: the most popular is their Superior Plan, which offers the best medical benefits and good cancer benefits with maximum reinbursement for eligible expenses; the next plan is called the Standard Plan, which offers good economical coverage with moderate reinbursement; and finally the routine care coverage called Careguard. To learn more about VPI, their policies, or to get a quote, visit http://www.petinsurance.com/
Liz Pulliam Weston of MSN Money says: "A few years ago, pet insurance would have ranked right up there with life insurance for children and dread-disease coverage on my list of policies you don't need. Now I'm not so sure. I still believe most people are better off forgoing pet insurance and instead putting the money they would have spent on premiums into a savings account...But if you're the type of person who would do anything to save your pet, including spend thousands of dollars on medical care, pet insurance might be a preferable alternative to going into debt." To read more of Liz Pulliam Weston's article, click here.
Here's a couple more reputable pet insurance companies to compare: PetCare Pet Insurance, and PetsHealth Care Plan.
Photo of Red Bank Veterinary Hospital in Tinton Falls, N.J. by Steve Dunwell of Steve Dunwell Photography Featured in the March 2010 issue of Veterinary Economics.
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