Pet owners could see fees slashed as inquiry into vet bill rip-offs launched

The UK’s competition body is to go ahead with a formal investigation in to whether pet owners are paying too much for treatments for their animals.

The Competition and Markets Authority (CMA) said it had heard from people who were struggling to pay vet bills and did not always know the best treatment options for their pets.

The CMA said it would examine whether profits made by vets are competitive, whether consumers are getting the right information, and whether the limited choice of vets in some local areas was harming consumers.

It said an independent expert inquiry group chaired by a leading lawyer will now oversee an investigation after it was flooded with thousands of responses from concerned pet owners.

Sarah Cardell, CMA chief executive, said: “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.

“We also remain concerned about the potential impact of sector consolidation and the incentives for large, integrated vet groups to act in ways which reduce consumer choice.”

Read Next

Ask Rocio: How to save your pet and money on a dreaded trip to the vets

Money

Ask Rocio: How to save your pet and money on a dreaded trip to the vets

Read More

The authority said the probe will look at issues such as whether consumers are being given the information they need so they can make informed decisions, if pet owners are being affected by limited choice and whether profits are “consistent with the levels expected in a competitive market”.

It said in March when it announced plans for the probe that it was concerned pet owners were overpaying for medicines and prescriptions and were not being given basic information such as price lists and prescription costs.

The CMA has offered guidance for pet owners while it carries out the work. This includes looking further to find a suitable vet. It said many owners chose simply on how close it is to where they live but said it was worth checking whether the fees and services made it the right one.

It suggests owners ask whether there are other treatment options, especially if people are worried about the cost. The watchdog also suggests that if the medication or treatment isn’t urgent, owners consider buying the medication elsewhere.

The level of profits earned by vet businesses will also be investigated. The CMA estimates there are 16 million pet owners in the UK after ownership exploded during the pandemic. The CMA estimates the vets market is worth around £5bn a year.

It will also look at whether the regulation of the market needs changing.

The inquiry comes at a time of enormous change in the veterinary sector. The traditional idea of small, individually owned practices epitomised by the popular TV show All Creatures Great and Small has been swept away by a wave of takeovers from corporations who have seen their ownership of the market increase from 10 per cent in 2013 to almost 60 per cent today.

Martin Coleman, the lawyer who will head the inquiry, said it would be “comprehensive and complex”.

Read Next

I’m a vet – this is why your fees could be rising

Bills

I'm a vet - this is why your fees could be rising

Read More

“The vet services market is worth an estimated £5bn a year and provides a necessary service to pet owners so it’s right that we fully investigate competition concerns – this matters to businesses, veterinary professionals and, crucially, the 16 million households in the UK who have pets.

“Market investigations are, by their nature, comprehensive and complex. They require time to fully explore concerns and to ensure that all points of view are heard so we can reach the right outcomes and take appropriate action, if needed, to make the market work for everyone.”

CVS, one of the major veterinary companies who now dominate the market, told investors that it will support the CMA with its investigation.

“CVS has a clear strategy with its purpose to give the best possible care to animals and its vision to be the veterinary company people most want to work for. The group is proud of the dedication and commitment of its colleagues in providing great care to its clients and their animals.”

It said it had already launched a new “clinical governance framework” in November 2023 which set out “contextualised care at the heart of the group’s approach to providing clients and their pets with appropriate care”.