Competition regulator barking up the right tree on vets’ opaque pricing

Consumers and corporates should welcome CMA proposals to overhaul regulations unchanged since the 1960sPoor Tiddles and Fido are too often getting a bad deal – or, rather, their owners are – from the large corporates that dominate the veterinary business these days. That, very roughly, is the conclusion of the Competition and Markets Authority, which was obviously barking up the right tree when it decided 18 months ago to look at a sector that can take an opaque approach to pricing its goods and services.Prices have been rising far faster than general inflation between 2016 and 2023, says the watchdog. The increases cannot be justified – at least, nothing like fully – by investment in better kit or superior services or higher salaries. And, critically, there is a big difference between the prices charged by the large chains and the independents that, pre-2013, used to represent the bulk of the industry. The CMA found that the average price charged by a practice owned by a large vet group for consultation, treatment and medicines was 16.6% higher than at an independent vet. Continue reading...