Quick summary: The Competition and Markets Authority has proposed sweeping reforms to the UK veterinary sector to address transparency failures and price increases of 63% that have significantly outpaced inflation since 2016. These new measures will mandate clearer upfront pricing, itemised billing for major treatments, and proactive information regarding cheaper online medication options to empower consumers in a market where 62% of households own pets. Improving financial accessibility to veterinary care is a vital public policy priority that directly supports the mental health and well being of owners by reducing the economic strain of maintaining essential animal health and preventative care.
The Competition and Markets Authority has concluded its market consultation into veterinary services, paving the way for reforms aimed at improving transparency and competition.
An independent inquiry group found that pet owners often lack the information needed to make informed decisions, contributing to weak competition, and higher prices. The CMA said its measures will make the market more competitive, easier to navigate, and more responsive to consumers.
Average veterinary service prices rose by 63% between 2016 and 2023, outpacing inflation. An estimated 62% of UK households own one of the country’s 36.5 million pets.
Joe Brunt, consumer finance expert at Fast Loan UK, shared practical ways pet owners can reduce veterinary costs.
Compare prices for standard services
Pet owners are advised to compare prices across veterinary practices for services such as consultations, procedures, written prescriptions, and cremation.
Currently, fewer than 40% of practices publish prices online. However, this is expected to change following the CMA’s consultation, with practices required to provide comprehensive price lists for standard services.
Request written pricing in advance
The CMA found that fewer than half of the 45,000 people surveyed received pricing information before a non-routine treatment, and only 29% received it in writing.
Pet owners are encouraged to request written estimates in advance to better understand costs and make informed decisions.
Under new rules, practices must provide a written estimate for treatments expected to cost £500 or more, including aftercare, along with an itemised bill. Emergency cases are exempt.
Ask for a written prescription
More than 70% of pet owners buy long-term medication directly from their vet, even though many could save £200 a year or more by purchasing online.
Requesting a written prescription allows owners to shop around at online pharmacies, which are often cheaper. New measures will require vets to inform clients of this option.
Consider pet insurance
Although pet insurance does not cover pre-existing conditions, it can help manage unexpected costs. Comparing policies can help owners find cover suited to their budget and their pet’s needs.
Keep up with routine care
Regular check-ups, vaccinations, and parasite treatments can prevent more serious and costly health issues. Preventative care is generally far cheaper than treating advanced conditions.
Check eligibility for financial support
Some pet owners may qualify for financial assistance or low-cost treatment if they receive certain benefits or live in eligible areas. Charities such as the RSPCA, Blue Cross, and PDSA offer support based on set criteria.
Speak with your vet
Owners struggling with costs should discuss options with their vet. Payment plans or staged treatments may be available to help spread expenses.