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| Vets may face caps on charges for prescriptions and cremations | Vets may face caps on charges for prescriptions and cremations |
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| UK regulator could ban vet chains from linking incentives to certain treatments | UK regulator could ban vet chains from linking incentives to certain treatments |
| British vets could face price caps on medicines, prescriptions and other services like cremations, the regulator has indicated, as it outlined changes it is considering to the way the UK's £2bn veterinary sector operates. | British vets could face price caps on medicines, prescriptions and other services like cremations, the regulator has indicated, as it outlined changes it is considering to the way the UK's £2bn veterinary sector operates. |
| The Competition and Markets Authority (CMA) has been investigating the sector, looking at whether a lack of competition in the sector has contributed to soaring prices. | The Competition and Markets Authority (CMA) has been investigating the sector, looking at whether a lack of competition in the sector has contributed to soaring prices. |
| Prices for treatments grew by 60% between 2015 and 2023, compared with inflation of 35% for other general services, according to CMA research. | Prices for treatments grew by 60% between 2015 and 2023, compared with inflation of 35% for other general services, according to CMA research. |
| The regulator is also pushing for more transparency as part of the overhaul due to be finalised in the coming months. | The regulator is also pushing for more transparency as part of the overhaul due to be finalised in the coming months. |
| In addition to the price caps, the CMA is looking into a ban on bonuses linked to offering specific treatments. | In addition to the price caps, the CMA is looking into a ban on bonuses linked to offering specific treatments. |
| It said on Thursday that it would look into a ban on any policies that would curtail vets' "clinical freedom". | |
| The watchdog also found there was a lack of transparency around the cost of treatments and what choices were available. | The watchdog also found there was a lack of transparency around the cost of treatments and what choices were available. |
| It found that businesses were marking up medicine prices, sometimes by as much as four times the purchase cost. | |
| In a list of potential remedies, the CMA said vets could be forced to create a clear online display of prices for medicines, surgeries, treatments and out-of-hours help. The working paper also suggested that the mark-up charged on pet cremations, sold to customers at a "vulnerable moment", might be capped. | In a list of potential remedies, the CMA said vets could be forced to create a clear online display of prices for medicines, surgeries, treatments and out-of-hours help. The working paper also suggested that the mark-up charged on pet cremations, sold to customers at a "vulnerable moment", might be capped. |
| The watchdog has also suggested a comparison website making it compulsory for clinics to inform owners if cheaper options are available. | The watchdog has also suggested a comparison website making it compulsory for clinics to inform owners if cheaper options are available. |
| Last month, a BBC investigation found that some vets felt they were under pressure to "generate income". | |
| The BBC spoke to vets working for IVC, which owns more than 900 surgeries, who all say they are monitored and set targets by the company. | |
| IVC said the interests of the pets was always the first priority. | |
| The CMA expects to release a provisional report on what measures it will take in the summer months, with a final decision by November. | The CMA expects to release a provisional report on what measures it will take in the summer months, with a final decision by November. |
| The CMA said basic local vet services are worth £2bn-£2.5bn a year, but when other aspects such as cremation, specialist treatments and medicines are taken into account, the overall value of the industry is estimated at £5.7bn a year. | The CMA said basic local vet services are worth £2bn-£2.5bn a year, but when other aspects such as cremation, specialist treatments and medicines are taken into account, the overall value of the industry is estimated at £5.7bn a year. |
| The competition body highlighted how the sector was increasingly being dominated by larger firms and how this might be reducing consumer choice. | The competition body highlighted how the sector was increasingly being dominated by larger firms and how this might be reducing consumer choice. |
| There are about 5,000 vet practices in the UK, it said, but since 2013, approximately 1,500 of these have been acquired by six large corporate groups. | There are about 5,000 vet practices in the UK, it said, but since 2013, approximately 1,500 of these have been acquired by six large corporate groups. |
| They are CVS, Independent Vetcare Ltd, Linnaeus, Medivet, Pets at Home and VetPartners. | They are CVS, Independent Vetcare Ltd, Linnaeus, Medivet, Pets at Home and VetPartners. |
| Four of these six tend to retain the name and branding of an independently-owned practice when they buy it, which the CMA said may create an "illusion of competition" for consumers if they are trying to shop around to find alternative practices. | Four of these six tend to retain the name and branding of an independently-owned practice when they buy it, which the CMA said may create an "illusion of competition" for consumers if they are trying to shop around to find alternative practices. |