Calls for price cap on vet prescriptions as warning issued to pet owners
Sweeping changes proposed by Britain’s competition watchdog could soon force veterinary practices to publish price lists and cap prescription costs.
The Competition and Markets Authority (CMA) found pet owners were potentially overpaying for medications and lacked adequate information about veterinary and treatment prices.
It follows the regulator’s investigation into the £6.3bn veterinary services market over concerns about its operational practices.
The CMA identified market-wide issues that prevent consumers from benefiting from strong competition between veterinary businesses. Specifically, it noted that pet owners could pay twice as much for commonly prescribed medications from vet surgeries compared to online retailers, which could lead to hundreds of pounds in extra costs.
The research also found there is no effective way to compare vet prices when they buy pets or move locations, and estimates are often not given for treatment processes, which can run into thousands of pounds.
The CMA said pet owners paid on average 16.6% more to large vet groups than to independent vets.
Martin Coleman, chairman of the inquiry group, said: “Pet owners are often left in the dark, not knowing whether their business is independent or part of a chain, or what a fair price would be.
“Sometimes they turn to expensive treatments without understanding the cost in advance.
“And they aren’t always sure about asking for a prescription or buying medicine online, even though it could save them hundreds of pounds.
“We are proposing major reforms aimed at transforming the experience of pet owners and empowering them to make the best choices for their circumstances.
“We believe our recommendations will allow pet owners to choose the right vet, the right treatment, and the right way to purchase medications without confusion or unnecessary cost.”
One recommended measure is for veterinary businesses to publish comprehensive price lists and make it clear whether they are part of a large group rather than an independent practice.
Veterinarians could be enabled to tell pet owners whether it is cheaper to buy medications online, and if they are needed frequently, they could automatically provide a written prescription that would enable people to purchase medications elsewhere.
Under the proposals, they may also need to cap the price of providing prescriptions at £16.
