Britain’s £2 billion veterinary industry is being examined by the competition watchdog amid concerns that pet owners are not getting value for money and that the cost of care has skyrocketed faster than inflation.
The Competition and Markets Authority (CMA) is launching a review of the sector, looking at consumer experiences and vet business practices for household pets in the United Kingdom.
It’s worried that pet owners are not given easy access to information about pricing and treatment choices when deciding which vet to use and which services to buy.
The regulator added that figures indicate that vet costs have also surged at a more rapid rate than wider inflation.
With numerous independent vet practices being snapped up by larger chains in recent years, it’s worried that pet owners may not be aware their vet is part of a group which owns others in their area, and possibly of services being sold to them, such as diagnostic tests or treatments at a specialist animal hospital.
According to the CMA, this could impact pet owners’ choices and reduce the incentives for local vet practices to compete.
Sarah Cardell, chief executive of the CMA, said that caring for an ill pet can create real financial pressure, particularly alongside other cost of living concerns.
She said that it was really important that people get clear information and pricing to help them make the right choices.
She added that there’s been a lot of consolidation in the vet industry in recent years, so now is the right time to take a look at how the market is working.
The CMA said the number of independent vet practices had fallen sharply in recent years, with those accounting for 89 per cent of the UK veterinary industry in 2013, but only around 45 per cent by 2021.
It’s calling for pet owners and vet practitioners, including surgeons, nurses, practice managers and vet businesses, to give their views via the CMA’s website, at gov.uk/vets-market-review.
Ms Cardell said that when a pet is unwell they often need urgent treatment, which means that pet owners may not shop around for the best deal like they do with other services. This means they may not have the relevant information to make informed decisions at what can be a distressing time.
She added that they want to hear from pet owners and people who work in the sector about their experiences.
The thing is, these businesses have been at it for years, and insurance hasn’t helped either because insurance companies have gotten greedy.
The smell of money is irresistible, and anyone for believes they’re working in the interest of the animals is sadly mistaken. Unfortunately, the vets who run these practices charge obscene amounts of money.
Inflation increases and everyone gets on the bandwagon up and down the country. Evidently, animals don’t matter, as it appears human beings don’t matter either. If you can’t afford it, then starve, if you’re ill, then don’t worry about it, just die. It’s a dog-eat-dog world (pardon the pun) and everyone is out for themselves. As long as I’m okay Jack, who cares!
In effect, it’s just blackmail and they have us over a barrel, and greed preys on everyone, and then we have no choice but to pay these exorbitant prices, and it’s not short of a cartel, and big companies and Government are controlling you, right in front of your eyes – at least Dick Turpin wore a mask.
I suppose some people will say that if you can’t afford an animal, then don’t get one. As they say, if you can’t have a child, don’t have one – hell, let’s get rid of the whole human population while we’re at it!
THE MONTHLY MOSQUITO 