Vets Fees

A private equity firm is an investment management company that provides financial backing and investment for an existing business with a view to making a profit on its investment. That profit can be increased if the business’s profitability improves, thereby increasing its sales potential. I cannot find any evidence that any of these companies has a history of putting animal welfare before profits or of having any regard for the pet owner being asked to pay what have become unsustainable fees. On the contrary, profit appears to be the prime incentive. This is understandable; however, in my opinion, it is acceptable when it concerns health issues, whether animal or human.

Rising costs in the UK

Today, we are talking about the cost of a visit to the veterinary surgeon in the UK, but before you consider this, nothing to do with you, please take note, this issue is heading your way, and you need to be very concerned. In fact, in some countries it’s already arrived.

In the UK, vets’ fees have risen by 60% over the last 10 years, TWICE the rate of inflation.

In a 2024 survey, the cost of neutering a female dog was £430.87, with regional variations, a 17% increase from 2023. 17%!!!!!

Now, you are quite correct when you say there are huge factors involved when it comes to pricing, but paying higher fees for the benefit of investors should not be one

When it comes to pricing, many factors come into consideration. Location is important, and variations across the same country are inevitable. In the UK, vets’ prices will be higher in the more affluent south than in the north. This will be replicated in other countries.

Another factor is that advances in veterinary medicine are pushing up costs as clinics invest in more complex equipment and drugs. These costs have to be recouped by higher charges.

The highly skilled veterinary surgeon who spends a period of training longer than a doctor should be rewarded for their skill.

Having said that, I have to question the necessity of some costs. Having worked as a volunteer for charity vets for years, I have witnessed and assisted in thousands of surgical procedures. The speed and efficiency of these veterinary surgeons is extraordinary, and the circumstances in which they work can be primitive in the extreme. Working all over the world, every one of them can recount stories of working in a tent by the light of a car’s headlights or a light bulb attached to a battery. A kitchen table and an electric light can be luxuries. Are they able to offer a wide range of tests before neutering a stray cat or dog? No, however, this may be the only time in the stray animal’s life it will ever see a vet. The one great thing is that it will receive a check-up, particularly of its teeth, and be neutered. For the females, this is a life-changing moment as they will never have to spend their lives having to cope with unwanted pregnancies. Even the males benefit as they are less likely to engage in confrontations that leave them with horrible injuries.

These procedures are carried out every day in countries where stray animals need vet assistance. The vets don’t need expensive equipment or extensively furnished operating theatres. Yes, these things are desirable but not critical.

Admittedly, we don’t want to return to the days of James Herriot, but we do need a realistic pricing structure.

The profit motive

What is causing concern for many people is the inexorable path being pursued by organisations that exist only for profit. If their main purpose is to provide a financial return to investors/shareholders, the vet’s fees will be higher. With fewer vets being independent, there will be less competition, and prices will inevitably rise even further.

The veterinary profession generally doesn’t have a price list. If you enter a shop or supermarket, the goods displayed come with clear price tags. If you enter a restaurant, the menu shows what food is available and at what price. The printed menu is often available for viewing outside the establishment before entering. It’s plain to see and transparent, but unfortunately, the veterinary profession doesn’t generally display its price list. Even in this day and age, when most veterinary practises have a website, many don’t show a price list.

When choosing a vet, one way to get a sense of their pricing structure is to call several clinics and ask about the cost of vaccinations and booster injections. There appears to be a large variation in the price of this basic item.

Another is to inquire whether the clinic is independent or is owned by a private equity, or a corporation that has little or no historic interest in animal welfare but have a massive interest in profits.

The big six

Here is a list of the six largest vet groups (LVGs) that control 60% of the UK pet market.

• Medivet
• CVS Group
• Linnaeus
• Vet Partners
• Pets at Home
• IVC Evidensia

Between them, these companies either own or are involved in over 2,600 Veterinary Practices in the UK.

One of the biggest complaints is the unexpected and sometimes unexplained costs of X-rays, scans, ultrasound, lab tests and hospitalisation. Owners are presented with huge bills that can run into the thousands of pounds. To compound the problem, some owners find they have received huge bills without any resolution, as veterinary surgeons are still unable to identify the cause.

The net result of these financial issues is that some people may have to put their beloved pets to sleep.

I suspect that you may find the fees charged are lower at a privately owned clinic. It’s not rocket science; if the owners have shareholders, then the fees paid have to be higher to pay dividends to those shareholders. Obviously, there is a minority of shareholders who consider ethics and invest only in companies that share their values. Examples include environmental campaigners who won’t invest in companies involved in fossil fuels, and peace campaigners who won’t invest in companies that manufacture or sell armaments.

I guess future investors who are concerned about vet fees and animal welfare will refuse to invest in private equity companies that own vet clinics; they will be in the tiny minority.

The only ray of hope on the horizon is that the Competition and Markets Authority is investigating the issue. I won’t hold my breath!

With more than half of all UK households believed to own a pet, I venture to suggest that this problem will not go away anytime soon.

What you can do

Before even considering visiting a vet in the UK, I would inquire and be very insistent on knowing whether the practise is independent. The time to do this is now, well before you need to consult one.

When facing difficult moments, don’t be afraid to ask questions. Don’t be silent. If you are informed that your dog needs tests, ask why. What will these tests show, and why is it necessary? Require fees to be in writing.

For you, a major issue may be that you don’t want to be seen as someone who considers financial considerations before the welfare of your pet, so you may be hesitant to talk about money. DON’T BE!! An independent veterinary surgeon will understand.

Always remember that you can always seek a second opinion if you don’t get satisfactory answers.