UK vets face crackdown over fees as pet owners ‘left in the dark’ on bills | Business
The UK’s competition watchdog has ordered vets to cap prescription charges at £21 and recommended a price comparison website after finding consumers were facing huge price rises and being “left in the dark” over bills.
The Competition and Markets Authority (CMA) said public satisfaction with the cost of services was “low” after a review of the £6.3bn market found “there is no strong competition between veterinary businesses” dominated by large chains.
Written prescription charges will be capped at £21 for the first medication and £12.50 for additional medications. The CMA had previously proposed a cap of £16.
Martin Coleman, chair of the independent inquiry group, said: “People are often left in the dark about who owns their practice, treatment options and prices – even as they face bills running into thousands of pounds.
“Our measures mean we will make it clear to pet owners which practices are part of larger groups, which are charging higher prices, and for the first time vet businesses will be held accountable by an independent regulator.”
Legally binding measures include price lists, prescription fee caps, a price comparison website and mandatory branding by major groups to increase competition and reduce prices.
Pet owners who use a veterinary clinic that is part of a larger chain can expect to see changes before Christmas, including standard price lists.
Practices are required to provide an advance written estimate for any treatment expected to cost £500 or more, including after-care costs and an itemized invoice excluding emergencies.
The watchdog found that average prices for veterinary services are rising by 63% between 2016 and 2023, “sharply and much faster than overall inflation.” He said he did not see evidence of a strong link between price increases and investments in quality.
“We have seen internal documents of some LVGs [large veterinary groups] This links price increases to the expectation that pet owners will not react by buying less or walking away. “We have also seen internal documentary evidence of pricing strategies at LVGs based primarily on non-quality factors,” he added.
