Precise VetPro Addresses CMA Report Highlighting the Lack of Transparency, Limited Choices and High Costs of Veterinary Care in the UK

Precise VetPro addresses the issues of high costs and limited choices in the UK’s veterinary sector by providing affordable, high-quality expert treatments with transparent pricing.

London, England, United Kingdom – August 8, 2024 —

A recent report by the Competition and Markets Authority (CMA) has shed light on significant issues within the UK’s veterinary sector. The findings reveal that corporate veterinary practices hold substantial control over the market, resulting in limited choices for pet owners and steep treatment costs.

As of now, approximately 70% of the revenue in the veterinary practice market is generated by practices controlled by corporate entities, marking a significant shift from 2013 when only about 10% of UK veterinary practices were owned by large corporate groups. By 2021, this number had surged to around 60%, illustrating a dramatic rise in sector consolidation over the past decade. This trend is even more pronounced in referral veterinary practices, where corporate ownership ranges from 80% to 90%. Such concentration within the sector is considerably higher compared to general companion animal practices, indicating a significant shift towards corporate control.

Among the key players, Linnaeus, a part of the Mars Veterinary Health group, stands out with a substantial presence in both referral and general veterinary practices with global ownership of over 2,000 veterinary hospitals. Notably, these corporations often retain the original names of the hospitals they acquire, effectively concealing the corporate ownership. Scrolling to the bottom of a hospital website is one of the few ways to identify their affiliation with the larger corporate entity. This makes it more challenging for clients to recognize that these hospitals are part of a corporate network.

In response to these concerns, the CMA launched an investigation into the veterinary sector to address rising prices and the impact of corporate consolidation on competition. Sarah Cardell, Chief Executive of the CMA, said: “We’ve heard from people who are struggling to pay vet bills, potentially overpaying for medicines and don’t always know the best treatment options available to them. We also remain concerned about the potential impact of sector consolidation and the incentives for large, integrated vet groups to act in ways which reduce consumer choice.”

The CMA report highlights the impact of market consolidation, where the dominance of a few corporate entities restricts options and drives up prices for pet care. This situation limits competition, stifles innovation, and affects the quality of care available to pet owners. Additionally, the report shows a troubling lack of transparency in pricing structures at large veterinary hospitals, making it difficult for pet owners to anticipate the costs of their pet’s treatments.

Precise VetPro Responds to the CMA Report

In response to these challenges, Precise VetPro has announced its intent to focus on affordable and convenient veterinary expert care. As a mobile veterinary referral service, Precise VetPro brings advanced procedures, such as orthopaedic and neurosurgical treatments among others, directly to local vet practices. This approach not only reduces costs but also provides the convenience of high-level care performed locally.

Precise VetPro addresses the CMA’s concerns about opaque pricing in the veterinary industry. With a fixed and transparent pricing model, Precise VetPro ensures pet owners are fully aware of costs upfront, eliminating unexpected financial surprises. This transparency fosters trust and helps pet owners manage the financial aspects of their pet’s healthcare more effectively.

Benefits for Veterinary Surgeons

The CMA report also highlights the difficulties independent veterinary practices face in retaining referral cases. Precise VetPro offers a solution by partnering with local vets, enabling them to keep referral cases in-house.

This collaboration enhances the range of services local vets can offer and allows them to retain revenue from complex procedures. The team of European and RCVS Specialists, Post Residency Clinicians and Double Certificate Holders at Precise VetPro VetPro bring expertise and experience to local practices, ensuring pets receive top-tier care at a fraction of the cost found at large hospitals.

About Precise VetPro

Precise VetPro provides mobile expert veterinary services, offering advanced procedures at local vet practices with a focus on affordability and transparency. Their team of highly qualified, residency trained and European Specialist vets ensures top-tier care.

By working closely with independent practices, Precise VetPro aims to support the sector’s resilience against corporate dominance, fostering a more equitable and accessible veterinary market.

For more information, please refer to the contact details below:

Contact Info:
Name: Ibra Hernando
Email: Send Email
Organization: Precise VetPro
Address: Profile West Suite 2, First Floor, 950 Great West Road, Brentford, TW8 9ES
Phone: 07405 805869
Website: https://www.precisevetpro.co.uk/

Release ID: 89137843

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