Regulatory Reforms Aiming to Reduce Veterinary Costs

The Competition and Markets Authority has introduced a range of reforms aimed at lowering the prices of veterinary services in the UK. These reforms will come into effect before the end of the year, following an extensive investigation into the £6.3 billion veterinary services market. The measures are designed to address concerns about a lack of transparency and misinformation that can lead to high costs for pet owners.

Among the key changes, veterinary practices will be required to publish comprehensive price lists for standard services. This includes consultations, common procedures, diagnostics, written prescriptions, and cremation options. Currently, less than 40 per cent of veterinary practices display prices on their websites, often making it difficult for pet owners to make informed choices.

The measures will also mandate that veterinary businesses clearly indicate whether they are part of a larger group. This information will need to be displayed on signage at their premises and online. The CMA’s investigation revealed that less than half of clients using large veterinary groups were aware of their practice’s affiliation with a chain.

Additional provisions include the requirement for practices to provide written estimates for treatments expected to cost £500 or more, and to inform pet owners about the option of obtaining written prescriptions with capped fees of £21 for the first medicine and £12.50 for any additional medications. The CMA concluded that the current legal framework is outdated, and supports reforms to the Veterinary Services Act to hold veterinary businesses accountable.

Funding for these regulatory changes will come from a levy imposed on veterinary businesses. The CMA has a six-month period to implement legally binding orders, with most reforms set to be completed within the next three to twelve months. The British Veterinary Association welcomed the reforms, noting that increased transparency will empower pet owners to make better decisions and stimulate competition.

The head of consumer rights policy at Which? also expressed support for the changes, stating that they will benefit consumers who have been caught off guard by hidden costs during stressful times when their pets require treatment.