“Major reforms” proposed for small animal veterinary practice have raised questions for the equine sector.
On 15 October the Government’s competition and markets authority (CMA) released its provisional decision from an investigation into the UK’s veterinary services market. This was the result of a review into “how veterinary services are bought and sold amid concerns that pet owners may not be getting a good deal or receiving the information they need to make good choices”.
Among its findings, the CMA reported that pet owners are often unaware of the prices of common services and whether practices are part of a large national chain, have no effective way of comparing prices and may be paying twice as much for commonly prescribed medicines from practices than they could pay online.
“These factors are market wide and mean consumers do not benefit from strong competition between vet businesses. Average prices across the market rose by 63% between 2016 and 2023 – well above inflation,” read the report, adding that on average owners pay 16.6% more at large vet groups than at independent practices.
“For at least three of those large groups, average prices increased faster at practices they bought than at practices that remained independent. For a substantial part of the market as a whole, profits are much higher than they should be if competition was working well.”
The CMA said the “current regulatory system is not fit for purpose” and only regulates individual professionals, not businesses.
CMA inquiry group chair Martin Coleman said pet owners are “often left in the dark” about pricing and whether a practice is corporate-owned.
“We are proposing major reforms aimed at bringing about a transformation in the experience of pet owners and empowering them to make the best choices for their circumstances,” he said.
The CMA’s independent expert inquiry group has provisionally decided on 21 measures. These include requiring vet businesses to publish price lists, make it clear if they are part of a large group, tell owners if they can save money buying medication online and provide written prescriptions and breakdowns for pet care plans. The CMA also recommended that the Government “urgently prioritises” a new Veterinary Surgeons Act and updates regulation to include vet businesses as well as individuals.
A consultation on the provisional decision is open until 12 November, and the final decision is due in March 2026.
Although the report refers to small animal practice only, it has generated much discussion in the equestrian community, as some of the corporate groups own large-animal vet practices. Although many vets have “welcomed” the CMA report and a review of the act has been called for across the industry for some time, concerns about some of the CMA proposals have been raised by corporate groups and independent vets.
Alan Hough, owner of independent Celtic Equine Vets, told H&H the report raises questions around buying medications online – and could push vets’ fees up.
“We’ve always accepted that if you source medicines online you’ll get them cheaper – we don’t have the bulk-buying power online pharmacies do. But I think the CMA is missing the point that if you drive all drug sales from practices to online, we recoup quite a significant portion of our operating costs from those sales, we still need the same amount of money to run the practice. It means our professional fees will have to rise and people need to be aware of that,” he said, adding that many online vet pharmacies are owned by the six corporate vet groups.
“The CMA is trying to make out that all the money vets make is profit, and it maybe is to the larger groups, but to most independent practices we’re operating at a level to make enough turnover to reinvest in staff and update some technology, but none of us have second homes in Barbados.”
Independently owned Hambleton Equine Clinic “welcomed” the CMA’s call for greater transparency in pricing – but warned “equine care cannot be simplified into standard price lists”.
“The equipment we use, such as advanced imaging, diagnostics and surgical facilities, requires significant investment and expertise. Quality care can’t be reduced to a simple price comparison. Our responsibility is to provide the right care, not just the cheapest option,” said Hambleton director Phil Cramp.
A spokesperson for corporate vet business IVC Evidensia, which owns small and large animal practices, said the rise in vet bills over the past decade “reflects major advances in capabilities, diagnostics and treatments, and a response to customer demands for advanced care”.
“Over the past five years, IVC Evidensia has invested over £200m in our clinics, equipment and training, and invested significantly in increased salaries and benefits,” he said.
“We have long advocated for a complete overhaul of the outdated Veterinary Surgeons Act, and are pleased the CMA is recommending this as a priority. While we already comply with a number of the CMA’s proposals, the full package will inevitably increase the administrative burden for the sector.”
British Equine Veterinary Association (BEVA) CEO David Mountford told H&H the CMA proposals “raise questions for the whole sector”.
“We welcome efforts to improve transparency and client communication, which are central to good veterinary care. However, we’re also conscious of the risk that new regulatory or business requirements designed for companion animal practice could be applied uncritically to equine work,” he said.
“BEVA will be engaging closely to ensure any future changes are proportionate, workable and reflect the needs and realities of equine veterinary care.”
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