Vets will be legally bound to capping prescription fees and publishing price lists among new measures which will start coming into force later this year, the competition watchdog has announced. The price cap means pet owners will pay a maximum of £21 for their first prescription and £12.50 for any additional medicines.
The Competition and Markets Authority’s (CMA) final reforms for the sector will help pet owners better navigate the vet services market, it said. This comes after CMA found that pet owners were being overcharged for routinely prescribed medicines froom vet practices. Other legally binding measures will include a price comparison website and mandatory branding by large vet groups to boost competition and drive down prices.
The overhaul come after an in-depth investigation by the watchdog, which found prices had been rising at nearly twice the rate of inflation.
Average prices of vet services soared by 63% between 2016 and 2023. The new rules will be legally enforced from September 23.
Under the shake up vets will have to make it clear whether they are part of a chain or an independent business, they can do so with signs in store or online.
Pet owners using a vet practice that is part of a larger group can expect to see standard price lists. A written statement will be required for any treatment forecast to cost more than £500 as well as an itemised bill.
Emergencies will be the only exception to this rule.
