Vet prices: How pet owners can cut vet bills - as Competition and Markets Authority launches price probe

The government’s competition watchdog is launching a full investigation into whether vets are holding Britain’s 16 million pet owners ransom - when it comes to what they pay to treat their furry family members.

On Thursday (23 May), the Competition and Markets Authority (CMA) confirmed it would officially launch a full investigation into the UK’s vet market. This comes after an initial review last September, which attracted some 56,000 responses from both pet owners and those working in the sector.

Key concerns included whether pet owners were getting the information they need when they needed it, in order to make informed decisions on their animal’s care, as well as whether vets’ profits were in line with what could be expected in a competitive market, and whether vet businesses were limiting pet owner’s treatment or referral choices. Pet owners were also being impacted by a limited choice of vet businesses in some areas.

An inquiry group made up of independent experts will now investigate, gathering evidence and examining these concerns in more detail over the next few months. Once they’re done, the CMA will consider whether any interventions are needed - which could include them legally mandating certain information is passed on to pet owners, capping prescription fees, or ordering vets to sell off parts of the business. The authority can also make recommendations to government.

CMA chief executive Sarah Cardell said in a statement: “The message from our vets work so far has been loud and clear - many pet owners and professionals have concerns that need further investigation. We’ve heard from people who are struggling to pay vet bills, potentially overpaying for medicines and don’t always know the best treatment options available to them.”

She said they were also concerned about the potential impact of “sector consolidation”, which could be incentivising large, integrated vet groups to act in ways which reduced consumer choice. “While we’re aware of acute staff shortages and difficult working conditions for vets, we consider a formal market investigation is essential to ensure good outcomes for the millions of pet owners in the UK as well as professionals working in the sector,” she added.

British Veterinary Association president Dr Anna Judson told PA that fees reflected what was needed to keep vet practiced open and viable. She said that more could be done to improve client choice - and many vet teams were already taking action to address concerns around fee transparency and practice ownership.

But she added that since the CMA consultation last September, vet teams “have found themselves on the end of really unpleasant, often abusive behaviour”. She added: “This is unacceptable and we urge everyone to remember that vets are people and are often not responsible for the pricing structures within a practice.”

The CMA’s top money-saving tips for pet owners in need of vet care

The CMA has also published some tips to help pet owners better navigate vet services. It’s advising owners to consider looking further than the closest vet when it comes to treating their pets.

Many pet owners told the watchdog that they chose a vet based simply on how close it was to where they live. “It might feel convenient, but fees and services do differ between practices so check to be sure it’s the right one for you.”

Next, if facing a pricey procedure or prescription, you should ask your vet if there are other treatment options available. “Getting a treatment that works for you and your pet is what matters most,” the CMA says. “It’s important that you understand why your vet has recommended a particular treatment or test. But if you’re not sure about a treatment, or you’re worried about the cost, speak to your vet.”

If it’s not urgent, you could also consider buying medication elsewhere. “When it’s an emergency, we just want to get our pet the medication they need as quickly as possible. But if your pet needs non-urgent care, then it can be cheaper, even when you include your vet’s prescription fee, to buy the medication elsewhere - such as an online pharmacy or specialist pet shop. Around a quarter of pet owners who responded to our call for information were not aware of this,” they added.