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Human health spending has gone up considerably in the last decade and financial experts have tried to explain the reasons for it. Strange as it may sound, they have pointed out owners’ emotions towards their pets as a reason for the substantial rise. It has been argued that people who have money spend a lot on their health and the health of their pets alike. Therefore, expenses for vets and physicians has gone up almost 50% in the last fifteen years.
Owners are emotional towards their pets and want to give the best care possible. Apart from a good lifestyle, they want to take care of medications, vet fees and hospital bills during illness or injury. And because of this, they end up spending a lot on their pets.
Another way of looking at this is that people who have money own pets because having a pet can be an expensive affair. So, it is only natural that they spend equally on their health too. Plus, health is something that requires the best treatment possible.
The concept of pet insurance still hasn’t gained much interest as health insurance. The reason for this is because, they can be expensive. And besides they are not popular enough so, many do not know such a thing exists. Health insurance is one of the things that has been around since WWI, but pet health insurance is relatively a new concept.
Decisions regarding health and well being often carries an emotional tag to it. Therefore, anything that involves doctors, physicians, hospitals, medicines and medical procedures are treated with lots of emotion. The same thing happens for pets and owners who are willing to spend hundreds of dollars each month for the comfort of their pet won’t mind spending a few extra bucks for pet health care. Health care is still a concern even in developed countries like America and a fraction of the population still finds it hard to get proper health care benefits. That is why those who receive health care treat it as a privilege and are prepared to get the best out of it.
Due to the advancements in technology, people have become more confident about their health needs. diagnosis and preventive cures are happening quicker than they used to. Sometimes, when pet owners see how well their pets get treated at a vet due to the available technologies, they, too, feel excited about their own.
Emotional attachments towards pets have allowed owners to explore the various ways in which they can better theirs. And that has led to a surge in human health spending. Moreover, physician qualification and advancements in technology have made it easier to improve both pet and human health.