CMA confirms sweeping reforms to UK vet market

The Competition and Markets Authority has published the final report of its landmark investigation into veterinary services, ordering a package of transparency and pricing remedies that group owners must have in place from this autumn.

The UK’s competition regulator has concluded the most extensive review of the veterinary sector in a generation, confirming a broad set of reforms designed to give pet owners clearer information on ownership, treatment options and prices.

Practices will have to publish comprehensive price lists for standard services, and pricing information is to be made available for comparison through the Royal College of Veterinary Surgeons’ “Find a Vet” service. Larger veterinary groups will face mandatory disclosure of ownership and branding, so that clients can see who ultimately owns the practice they are using.

Practices will have to provide written estimates for treatments costing £500 or more, and the CMA has moved to cap prescription fees at £21 for a first medicine and £12.50 for each additional medicine. Clearer pricing for cremation, including communal options, and greater transparency around pet care plans also form part of the package, alongside strengthened complaints processes and written policies to protect the clinical independence of vets.

Martin Coleman, chair of the 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."

He said the measures were intended to work for the profession as well as consumers. “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.”

Smaller businesses are to receive a three-month extension relative to larger groups, giving independents additional time to adapt systems and client communications.

The regulator estimated the direct compliance burden at around £150 to £250 per practice in initial set-up costs, and £450 to £550 per practice a year in ongoing costs.

Law firms advising the sector have urged practices to begin preparing now. In an analysis of the final report, Fieldfisher said businesses should review pricing structures and client communications, prepare for enhanced record-keeping and disclosure of ownership and financial links to referral centres, and expect increased CMA monitoring of local market conditions.