Pet owners could soon be paying less at the vets if price caps are placed on prescriptions.
The Competition and Markets Authority, which has been investigating the sector since 2023, revealed owners could be paying twice as much for commonly prescribed medicines from vet practices than they could pay online.
The watchdog found customers could be paying “hundreds of pounds more” for commonly prescribed medicines from vet practices than they could pay online.
It wants to introduce a prescription fee cap of £16 and said vets should be required to tell customers about savings they could make by buying medicines online.
The CMA said “These measures will help prompt consumers to consider buying medication online and protect them from having to pay excessive prices for the prescriptions they would need to do so.”
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“Pet owners pay 16.6% more on average at large vet groups than at independent vets. For at least three of those large groups, average prices increased faster at practices they bought than at practices that remained independent.
“The current regulatory system is not fit for purpose. It only regulates individual veterinary professionals and not vet businesses, despite the majority of practices being part of a large corporate group.”
The CMA’s 21 proposed measures include:
• A requirement for vet businesses to publish comprehensive price lists
• Changes to make it easier for pet owners to access cheaper medicines online
• Requiring vets to give clear price information to pet owners arranging a cremation
• Giving pet owners clear price information when they are choosing a treatment, with prices in writing for treatments over £500 and itemised bills
Martin Coleman, chair of the inquiry group, said: “We believe that our proposals would enable pet owners to choose the right vet, the right treatment, and the right way to purchase medicine – without confusion or unnecessary cost.”
Firms will have until November 12 to respond to the CMA’s provisional decision.
A final decision is due in March.
