Investigation into veterinary charges

As horse owners, we require and expect our equine vets to be available 24/7, with every possible drug our horse might need conveniently stocked in the boot of their car or, instantly available from the practice – this does come at a price!

However, the CMA has begun an investigation into the rate at which vet fees have been increasing in comparison to other areas of the economy. While this currently focuses on domestic pets, there has also been a steady increases in the cost of equine veterinary care. It has been suggested that this could be as a result of corporatisation – where veterinary practices have been bought out by large corporate companies.

According to the CMA independent veterinary practices used to make up around 89% of all veterinary practices, a figure that has since decreased to around 45%. While owners find treatment fees have increased, potentially as a result of corporatisation, what do veterinary surgeons think?

A survey carried out by an equine veterinary discussion group in 2021 revealed that the majority of vets whose practices had been bought out, found their work–life balance tended to improve. There was an almost equal split between increased and decreased job satisfaction, and salary was more likely to be improved under corporate ownership.

Public perception is that veterinary fees are extremely high, therefore all vets must be rich. This is not necessarily the case. While we cannot get away from the fact that the very act of buying up veterinary practices must mean that the large corporate organisations see a high level of profit to be made, the vets at the frontline and at smaller practices may not be rich and, can have up to £100k of debt to repay after graduating. They are often on call 24/7 with very little down time, leading to high levels of stress; the veterinary profession in the UK has a very high suicide rate in comparison to others.

How do the fees stack up?

There are now many, many diagnostic procedures available to decipher what might be ailing our horses, most at eye-watering costs. With a majority of animals  insured, is this an encouragement in some cases for a more liberal approach to expensive diagnostic testing, surgeries, treatment protocols and drug prescription, where there is an insurance pot to be utilised and, an owner’s emotions thrown in the mix?

In response to the increased costs in veterinary care, insurance premiums have also increased and the insurance pot might not always cover the options and fees. As owners what do we do? Could we be more savvy and ask questions to determine exactly what treatment or diagnostics are needed and why – would a second opinion be warranted?

What we do need to be aware of and to understand, is that as with all professions, there will always be those that look at the bottom line with an eye to making the most profit. However, building a good, trusting relationship with our equine vet, and talking through concerns and pricing should lead to less unpleasant financial surprises.

Veterinary surgeons spend a long time training and enter the profession because they want to help animals. They do however, deserve to be well remunerated for their efforts, a good work – life balance and, a degree of job satisfaction.