The Competition and Markets Authority (CMA) has been carrying out a major investigation into costs
A watchdog has proposed a price cap on prescriptions provided by vets to prevent pet-owners from being overcharged. The Competition and Markets Authority, which has been investigating the sector since 2023, recently published its findings.
It discovered that customers could be paying double for commonly prescribed medicines from vet practices than they would online, leading them to spend “hundreds of pounds more”.
The authority suggested that vets should cap prescription fees at £16 and inform customers about potential savings from purchasing medicines online with those prescriptions.
“These measures will help prompt consumers to consider buying medication online and protect them from having to pay excessive prices for the prescriptions they would need to do so,” it stated.
The CMA also found that pet owners pay 16.6% more on average at large vet groups than at independent vets. For at least 3 of those large groups, average prices increased faster at practices they bought than at practices that remained independent. For a substantial part of the market as a whole, profits are much higher than they should be if competition was working well.
In its report, the CMA also recommended the creation of a “comprehensive” price comparison site to inform customers about cheaper options.
The market investigation – which is principally into vet businesses, not individual vets – identifies concerns, including that pet owners:
- are often unaware of the prices of commonly used services and whether their local practices are part of large national chains
- have no effective way of comparing vet prices when they get a pet or move areas
- may be paying twice as much for commonly prescribed medicines from vet practices than they could pay online, amounting to hundreds of pounds more than they need to pay
- often receive no written estimate for courses of treatment running to hundreds – or even thousands – of pounds
- are often unable to tell if they are getting good value for money from pet care plans
- may be overpaying for individual cremations often have no effective means of complaining when things go wrong
Martin Coleman, chair of the inquiry group, said: “Pet owners are often left in the dark, not knowing whether their practice is independent or part of a chain or what a fair price looks like.
“They are sometimes committing to expensive treatment without understanding the price in advance. And they do not always feel confident asking for a prescription or buying medicine online – even when it could save them hundreds of pounds.
“Even where pet owners could access some of this information, it is difficult for them to compare prices and services – despite the fact that, in most of the country, there are several local practices they could choose between.
“We believe that our proposals would enable pet owners to choose the right vet, the right treatment, and the right way to purchase medicine – without confusion or unnecessary cost.”
The CMA is today proposing a wide-ranging set of remedies to address these issues, including:
- Requiring vet businesses to publish comprehensive price lists, be clear if they are part of a large group
- Making it easier for pet owners to access cheaper medicines online, including by requiring vets to tell pet owners about savings they make by buying medicines online
- Requiring vets to give pet owners clear price information when they are choosing a treatment, with prices in writing for treatments over £500 and itemised bills
- Requiring the RCVS to enhance its Find a Vet website to include pricing data drawing on the price lists vets will be required to publish; this data can also be used by third party websites and apps
- Requiring vets to give clear price information to pet owners arranging a cremation
- Requiring vets to give pricing breakdowns for pet care plans
- Recommending that the government urgently prioritises a new Veterinary Surgeons Act and updates regulation to include veterinary businesses, as well as individual vets and nurses, and give the regulator powers to set and enforce requirements and standards for these businesses
Companies now have until 12 November to respond to the CMA’s provisional decision.
A final verdict is expected to be delivered in March.