COMPETITION AND MARKETS AUTHORITY SETS OUT REFORMS
The CMA has set out its final reforms – which will start coming into force later this year – to help pet owners better navigate the vet services market.
- Legally binding measures include price lists, prescription fee caps, a price comparison website and mandatory branding by the large groups to boost competition and drive down prices
- Pet owners using a vet practice that is part of a larger chain can expect to see changes before Christmas – including standard price lists
The Competition and Markets Authority (CMA) has today concluded its investigation into veterinary services for household pets in the UK, after an independent inquiry group found that the current system is leaving pet owners in the dark. A lack of information that helps people make informed decisions is leading to weak competition and high prices.
An unprecedented response from both the public and the sector has help to shape the CMA’s final report, which green lights a package of measures to make the market more competitive, easier to navigate and more responsive to pet owners’ needs.
The investigation has intensified public scrutiny of the veterinary services industry, yet the professionalism, compassion, and commitment to animal welfare shown by veterinary professionals remains unquestioned.
Martin Coleman, Chair of the independent Inquiry Group, said: “This is the most extensive review of veterinary services in a generation, and today’s reforms will make a real difference to the millions of pet owners who want the best for their pets but struggle to find the practice, treatment and price that meets their needs.
“Too often, people are left in the dark about who owns their practice, treatment options and prices – even when facing bills running into thousands of pounds.
“Our measures mean it will be made clear to pet owners which practices are part of large groups, which are charging higher prices, and for the first time, vet businesses will be held to account by an independent regulator.
“Our changes put pet owners at the centre but also help vets by enhancing trust in the profession and protecting clinical judgement from undue commercial pressure – and that is important to ensure our pets continue to get the best care.”
The report outlines the final remedies and recommendations which together will transform the market.
More details on when the changes will happen can be found in the timetable for remedies.
The British Veterinary Association (BVA), which represents more than 19,000 individual vets across the UK, welcomes the majority of the measures, particularly those designed to improve transparency and consumer choice, outlined by the Competition and Markets Authority (CMA) as it publishes its final decision following more than two years of investigation into the UK vet services market for household pets.
British Veterinary Association President Dr. Rob Williams MRCVS said: “Vets care deeply for animals and anything we can do to build trust between us and their owners is a good thing.
“The majority of the CMA’s measures focus on increasing transparency and information, which will help pet owners make more informed choices and support competition, which is a really positive step.
“We’re also pleased to see that the CMA continues to support our calls for reform of the woefully outdated Veterinary Surgeons Act, including the introduction of vet practice regulation, which will go a long way to addressing many of the issues its investigation raised.
“Delivering highly skilled veterinary medicine is costly and whilst we recognise prices have risen sharply in recent years this is due to a number of factors, including the higher costs all businesses are experiencing – and vet practices are not immune.
“Plus, thanks to advances in diagnostics and medical technology over the last 20 years, vets can now do much more to manage disease and injury in animals, whereas in the past the only option available may have been to euthanase.
“Owners today also have a greater expectation of their vet, with many expecting human quality healthcare for their pets and whilst this is possible to deliver, it comes at a cost.
“If pet owners do have concerns about cost, talk to us, we will always do our best to help.”
For more information visit bva.co.uk/cma