Vets could be made to publish prices after UK watchdog investigation

"The Competition and Markets Authority (CMA) found pet owners pay 16.6% more on average at large vet groups than at independent vets. It said the 6.3bn market was not fit for purpose and needed to be modernised. Publishing its findings on Wednesday of an investigation into how veterinary services operate in Britain, the regulator found that owners were often unaware of the prices of commonly used services and whether their local practices are part of large national chains."

"The current regulatory system dates back to 1966. It only regulates individual veterinary professionals and not vet businesses, even though most practices are part of a large corporate group. The CMA found that acquisitions among larger companies led to an increase of 9% in average prices four years later. It said many of the concerns raised with it relate to the six large veterinary groups, which own the majority of practices, and have owners who are not vets."

The Competition and Markets Authority found pet owners pay 16.6% more on average at large vet groups than at independent vets. The veterinary market is valued at 6.3bn and is judged not fit for purpose and in need of modernisation. Many owners are unaware of common service prices and whether practices belong to national chains, preventing effective price comparison. Veterinary practices can charge substantially more for commonly prescribed medicines than online. The CMA proposed 21 measures, including mandatory comprehensive price lists, clear ownership disclosure, policies to protect clinical decision-making, a prescription price cap, and a public price comparison website. Findings are provisional and subject to submissions before a final decision next year.

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