Summary
The UK's competition watchdog will cap vet prescription fees at £21 and require vet practices to publish price lists. This is part of a plan to increase transparency and competition in the veterinary market following a report that found rising costs.
Key Facts
- Vet prescription fees will be capped at £21 for the first medicine and £12.50 for additional ones.
- Vet practices must publish price lists for services like consultations and procedures.
- A price comparison website will be created to help consumers compare vet prices.
- The reforms aim to make vet practice ownership clear to consumers.
- The changes will start to be implemented later this year.
- The Competition and Markets Authority (CMA) led the investigation and proposed these measures.
- The CMA found that more than 70% of pet owners buy long-term medication directly from vets, though cheaper options are available online.
- Less than 40% of vet practices had their prices available online before these reforms.
