Pet owners could be paying twice as much for drugs commonly prescribed by veterinary practices than they could pay online, a watchdog has found.
The Competition and Markets Authority, which has been investigating the sector since 2023, said price caps should be imposed on prescriptions supplied by vets to stop pet owners being ripped off.
The study found that customers could pay “hundreds of pounds more” for commonly prescribed medications from veterinary practices than they could pay online.
He said vets should have a prescription fee cap of £16 and should be required to tell customers how much they could save by buying medicines online.
Money blog: Here’s what major changes in vet prices could mean for you
“These measures will help encourage consumers to consider purchasing medicines online and protect them from paying excessive prices for the prescriptions they need,” we read.
“Pet owners pay on average 16.6% more at large veterinary groups than at independent veterinarians. For at least three of these large groups, average prices increased more quickly at practices they purchased than at practices that remained independent.”
The 21 measures proposed by the CMA include:
• An obligation for veterinary companies to publish complete price lists
• Changes to make it easier for pet owners to access cheaper medications online.
• Require veterinarians to provide clear pricing information to pet owners arranging cremation.
• Giving pet owners clear pricing information when choosing treatment, with written prices for treatments over £500 and itemized invoices.
“The current regulatory system is not fit for purpose. It only regulates individual veterinary professionals and not veterinary businesses, although the majority of practices are part of a large business group,” the CMA report said.
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Martin Coleman, chairman of the inquiry group, said: “Pet owners are often left in the dark, not knowing whether their practice is independent or part of a chain, or what a fair price looks like.
“They sometimes commit to expensive treatment without knowing the price in advance. And they don’t always feel confident asking for a prescription or buying medicine online, even if it could save them hundreds of dollars.”
“Even when pet owners can access some of this information, it is difficult for them to compare prices and services – despite the fact that, in most of the country, there are several local practices from which they can choose.
“We believe our proposals would allow pet owners to choose the right veterinarian, the right treatment and the right way to purchase medications – without confusion or unnecessary costs. »
Companies will have until November 12 to respond to the CMA’s provisional decision.
A final decision is expected in March.