Business
Vets under increasing pressure to make money for corporate owners, BBC told
Richard Bilton,BBC Panoramaand
Ben Milne,BBC News
Getty ImagesVets have told BBC Panorama they feel under increasing pressure to make money for the big companies that employ them – and worry about the costly financial impact on pet owners.
Prices charged by UK vets rose by 63% between 2016 and 2023, and the government’s competition regulator has questioned whether the pet-care market – as it stands – is giving customers value for money.
One anonymous vet, who works for the UK’s largest vet care provider, IVC Evidensia, said that the company has introduced a new monitoring system that could encourage vets to offer pet owners costly tests and treatment options.
A spokesperson for IVC told Panorama: “The group’s vets and vet nurses never prioritise revenue or transaction value over and above the welfare of the animal in their care.”
More than half of all UK households are thought to own a pet.
Over the past few months, hundreds of pet owners have contacted BBC Your Voice with concerns about vet bills.
One person said they had paid £5,600 for 18 hours of vet-care for their pet: “I would have paid anything to save him but felt afterwards we had been taken advantage of.”
Another described how their dog had undergone numerous blood tests and scans: “At the end of the treatment we were none the wiser about her illness and we were presented with a bill of £13,000.”
Mounting concerns over whether pet owners are receiving a fair deal prompted a formal investigation by government watchdog, the Competition and Markets Authority (CMA).
In a provisional report at the end of last year, it identified several issues:
- Whether vet companies are being transparent about the ownership of individual practices and whether pet owners have enough information about pricing
- The concentration of vet practices and clinics in the hands of six companies – these now control 60% of the UK’s pet-care market
- Whether this concentration has led to less market competition and allowed some vet care companies to make excess profits
‘Hitting targets’
A vet, who leads one of IVC’s surgeries (and who does not want to be identified because they fear they could lose their job), has shared a new internal document with Panorama. The document uses a colour code to compare the company’s UK-wide tests and treatment options and states that it is intended to help staff improve clinical care.
It lists key performance indicators in categories that include average sales per patient, X-rays, ultrasound and lab tests.
The vet is worried about the new policy: “We will have meetings every month, where one of the area teams will ask you how many blood tests, X-rays and ultrasounds you’re doing.”
If a category is marked in green on the chart, the clinic would be judged to be among the company’s top 25% of achievers in the UK.
A red mark, on the other hand, would mean the clinic was in the bottom 25%. If this happens, the vet says, it might be asked to come up with a plan of action.
The vet says this would create pressure to “upsell” services.
For instance, the vet says, under the new model, IVC would prefer any animal with suspected osteoarthritis to potentially be X-rayed. With sedation, that could add £700 to a bill.
While X-rays are sometimes necessary, the vet says, the signs of osteoarthritis – the thickening of joints, for instance – could be obvious to an experienced vet, who might prefer to prescribe a less expensive anti-inflammatory treatment.
“Vets shouldn’t have pressure to do an X-ray because it would play into whether they are getting green on the care framework for their clinic.”
IVC has told Panorama it is extremely proud of the work its clinical teams do and the data it collects is to “identify and close gaps in care for our patients”.
It says its vets have “clinical independence”, and that prioritising revenue over care would be against the Royal College of Veterinary Surgeons’ (RCVS) code and IVC policy.
The vet says a drive to increase revenue is undermining his profession.
Panorama spoke to more than 30 vets in total who are currently working, or have worked, for some of the large veterinary groups.
One recalls being told that not enough blood tests were being taken: “We were pushed to do more. I hated opening emails.”
Another says that when their small practice was sold to a large company, “it was crazy… It was all about hitting targets”.
Not all the big companies set targets or monitor staff in this way.
The high cost of treatment
UK pet owners spent £6.3bn on vet and other pet-care services in 2024 – equal to just over £365 per pet-owning household, according to the CMA.
However, most pet owners in the UK do not have insurance, and bills can leave less-well-off families feeling helpless when treatment is needed.
Many vets used not to display prices and pet owners often had no clear idea of what treatment would cost, but in the past two years that has improved, according to the CMA.
Rob Jones has told Panorama that when his family dog, Betty, fell ill during the autumn of 2024 they took her to an emergency treatment centre, Vets Now, and she underwent an operation that cost almost £5,000.
Twelve days later, Betty was still unwell, and Rob says he was advised that she could have a serious infection. He was told a diagnosis – and another operation – would cost between £5,000-£8,000.
However, on the morning of the operation, Rob was told this price had risen to £12,000. When he complained, he was quoted a new figure – £10,000.
“That was the absolute point where I lost faith in them,” he says. “It was like, I don’t believe that you’ve got our interests or Betty’s interests at heart.”
The family decided to put Betty to sleep.
Rob did not know at the time that both his local vet, and the emergency centre, branded Vets Now, where Betty was treated, were both owned by the same company – IVC.
He was happy with the treatment but complained about the sudden price increase and later received an apology from Vets Now. It offered him £3,755.59 as a “goodwill gesture”.
Vets Now told us its staff care passionately for the animals they treat: “In complex cases, prices can vary depending on what the vet discovers during a consultation, during the treatment, and depending on how the patient responds.
“We have reviewed our processes and implemented a number of changes to ensure that conversations about pricing are as clear as possible.”
Value for money?
Independent vet practices have been a popular acquisition for corporate investors in recent years, according to Dr David Reader from the University of Glasgow. He has made a detailed study of the industry.
Pet care has been seen as attractive, he says, because of the opportunities “to find efficiencies, to consolidate, set up regional hubs, but also to maximise profits”.
Six large veterinary groups (sometimes referred to as LVGs) now control 60% of the UK pet care market – up from 10% a decade ago, according to the CMA.
They are:
- Linnaeus, which owns 180 practices
- Medivet, which has 363
- Vet Partners with 375 practices
- CVS Group, which has 387 practices
- Pets at Home, which has 445 practices under the name Vets for Pets
- IVC Evidensia, which has 900 practices
When the CMA announced its provisional findings last autumn, it said there was not enough competition or informed choice in the market. It estimated the combined cost of this to UK pet owners amounted to £900m between 2020-2024.
Corporate vets dispute the £900m figure.
They say their prices are competitive and made freely available, and reflect their huge investment in the industry, not to mention rising costs, particularly of drugs.
The corporate vets also say customers value their services highly and that they comply with the RCVS guidelines.
A CMA survey suggests pet owners are happy with their vets – both corporate and independent – when it comes to quality of service.
But, with the exception of Pets at Home, customer satisfaction on cost is much lower for the big companies.
“I think that large veterinary corporations, particularly where they’re owned by private equity companies, are more concerned about profits than professionals who own veterinary businesses,” says Suzy Hudson-Cooke from the British Veterinary Union, which is part of Unite.
Proposals for change
The CMA’s final report on the vet industry is expected by the spring but no date has been set for publication.
In its provisional report, it proposed improved transparency on pricing and vet ownership.
Companies would have to reveal if vet practices were part of a chain, and whether they had business connections with hospitals, out-of-hours surgeries, online pharmacies and even crematoria.
IVC, CVS and Vet Partners all have connected businesses and would have to be more transparent about their services in the future.
Pets at Home does not buy practices – it works in partnership with individual vets, as does Medivet. These companies have consistently made clear in their branding who owns their practices.
The big companies say they support moves to make the industry more transparent so long as they don’t put too high a burden on vets.
David Reader says the CMA proposals could have gone further.
“There’s good reason to think that once this investigation is concluded, some of the larger veterinary groups will continue with their acquisition strategies.”
The CMA says its proposals would “improve competition by helping pet owners choose the right vet, the right treatment, and the right way to buy medicine – without confusion or unnecessary cost”.
For Rob Jones, however, it is probably too late.
“I honestly wouldn’t get another pet,” he says. “I think it’s so expensive now and the risk financially is so great.”
Business
The NBA doesn’t just want to build a European basketball league — it wants to revolutionize the international pro game
Waitrose is set to remove mackerel from its shelves amid escalating concerns over unsustainable fishing practices.
The retailer said that it is the first major UK supermarket to suspend sourcing of the popular fish.
It said that fresh, chilled, and frozen mackerel, primarily sourced from Scottish waters, will be unavailable to shoppers by 29 April. Tinned varieties will follow once the current stock is depleted.
Conservationists are welcoming the move and urging other supermarkets to follow suit.
The measure comes as governments have repeatedly failed to implement catch limits recommended by scientists, jeopardising the long-term viability of mackerel stocks.
The International Council for Exploration of the Sea (ICES) has issued stark warnings, advising a 70 per cent reduction in catches for 2026 across all regional mackerel stocks compared to 2025’s recommended levels.
With the stock consistently fished above sustainable thresholds, this translates to a 77 per cent cut on the 755,143 tonnes scientists estimated would be caught in 2025.
Overfishing has resulted in depleting mackerel stocks in the north-east Atlantic, with Ices saying the species, and the wider fishing industry, could face long-term risks unless countries stick to recommended catch limits.
Waitrose said the decision in December by four of the coastal states which fish mackerel to cut catches by 48 per cent was a step forward, but did not meet Ices advice.
North-east Atlantic mackerel will no longer meet the supermarket’s responsible sourcing requirements in line with the Sustainable Seafood Coalition codes of conduct, the retailer said.
Jake Pickering, head of agriculture, aquaculture and fisheries at Waitrose, said: “By suspending sourcing of mackerel at Waitrose we are reinforcing our ethical and sustainable business commitments, acting to tackle overfishing and protect the long-term health of our oceans and this crucial fish.
“Our customers trust us to source responsibly, and we are closely monitoring the fishery.
“We look forward to bringing mackerel back to our shelves once it meets our high sourcing standards.”
As alternatives, Waitrose is launching a new range of fish products including hot smoked herring, hot smoked peppered herring and hot smoked sweetcure seabass, all of which are Marine Stewardship Council (MSC) certified.
The retailer said it would also introduce MSC-certified frozen sardines from May as a sustainable replacement for frozen mackerel, and plans to become the first retailer to sell 100 per cent MSC tinned sardines.
Waitrose said it would maintain its relationship with its mackerel suppliers and its new supply of herring, seabass, sardines and trout will be sourced through current supplier partnerships.
But there is currently no predetermined time-frame as to when Waitrose will start sourcing mackerel again.
Marija Rompani, director of ethics and sustainability at the John Lewis Partnership, said: “We believe sustainable food production must balance climate action, nature protection and responsible fish sourcing is fundamental to protecting our oceans.
“We will continue to work closely with suppliers and industry partners to support the recovery and responsible management of fish stocks.”
Charles Clover, co-founder of conservation charity Blue Marine Foundation, said mackerel – one of the largest remaining commercial fish stocks in the north-east Atlantic – had declined 75 per cent in the last 10 years because fishing nations, including the UK, had overfished it.
“They have put too little effort into the task of reaching agreement on a sharing arrangement – and some countries have been awarding themselves more quota than is justified by science,” he said.
“This crisis has been ignored for too long.
“We hope that this action by Waitrose sends it to the top of the political agenda. We call on other retailers to follow Waitrose’s example.”
The arrival of a salary credit message at the beginning of the month often brings a sense of relief and optimism, with many planning to save money or make long-delayed purchases. However, for a large number of salaried individuals, that confidence fades quickly as expenses begin to pile up. Rent, electricity bills, EMIs, online purchases, dining out and everyday spending gradually reduce bank balances, leaving many struggling by the third week of the month. (News18 Hindi)
Financial experts say that recurring cash shortages are often not caused by insufficient income but by poor money habits. Small and unnoticed mistakes in managing personal finances can gradually weaken long-term financial stability. The good news, experts note, is that these habits can be corrected with simple changes and better planning. (News18 Hindi)
1. One of the most common mistakes is the absence of a proper budget. Many people begin spending as soon as their salary is credited without deciding in advance how the money will be used. Without a clear spending plan, expenses tend to rise uncontrollably. Experts recommend allocating money for essential needs such as rent, groceries, utility bills and savings immediately after receiving a salary. Preparing a simple budget by listing fixed monthly expenses in a notebook or mobile app can help maintain financial discipline. (News18 Hindi)
2. Frequent small online purchases also contribute significantly to unnecessary spending. With doorstep deliveries and frequent discounts, cashback offers and flash sales, consumers often buy items that are not essential. While individual purchases may seem minor, repeated spending of a few hundred or thousand rupees can add up to a substantial amount by the end of the month. Financial planners advise clearly distinguishing between needs and wants before making purchases. (News18 Hindi)
3. Another major mistake is the absence of an emergency fund. Unexpected expenses such as medical bills, urgent travel or home repairs can disrupt monthly budgets. Without savings set aside for emergencies, many individuals rely on credit cards or loans, which can lead to debt and reduce the following month’s disposable income. Experts suggest building an emergency fund gradually, ideally covering at least three months of essential expenses. (News18 Hindi)
4. Saving only what remains at the end of the month is another common but ineffective approach. In most cases, little or no money is left after regular spending. Financial advisers recommend setting aside savings as soon as the salary is credited, a strategy often referred to as the “pay yourself first” principle. This method helps create a consistent saving habit. (News18 Hindi)
5. Spending to maintain a certain lifestyle is also a growing concern, particularly in the age of social media. The desire to match others’ lifestyles often leads to purchases such as expensive gadgets, branded clothing or frequent dining out, even when these expenses exceed one’s income. Experts warn that such spending patterns can increase financial stress and recommend aligning lifestyle choices with income and financial priorities. (News18 Hindi)
To improve financial discipline, experts advise reviewing expenses from the previous three months to understand spending patterns. Based on this assessment, individuals can create a simple plan that divides income into spending, saving and investing. Automated savings options such as Systematic Investment Plans (SIPs) or recurring deposits can help ensure consistent saving. Even small financial changes, experts say, can lead to significant long-term benefits. (News18 Hindi)
Policy easing drives Argentina’s garment import surge in 2025
“Heated Rivalry” Season 2 is coming “as soon as humanly possible,” says creator Jacob Tierney
Vinícius Jr. seals Real Madrid progress amid Benfica boos
-
Tech7 days agoA $10K Bounty Awaits Anyone Who Can Hack Ring Cameras to Stop Sharing Data With Amazon
-
Fashion6 days agoICE cotton ticks higher on crude oil rally
-
Business6 days agoUS Top Court Blocks Trump’s Tariff Orders: Does It Mean Zero Duties For Indian Goods?
-
Business5 days agoEye-popping rise in one year: Betting on just gold and silver for long-term wealth creation? Think again! – The Times of India
-
Entertainment5 days agoViral monkey Punch makes IKEA toy global sensation: Here’s what it costs
-
Sports6 days agoBrett Favre blasts NFL for no longer appealing to ‘true’ fans: ‘There’s been a slight shift’
-
Entertainment6 days agoThe White Lotus” creator Mike White reflects on his time on “Survivor
-
Sports5 days agoKansas’ Darryn Peterson misses most of 2nd half with cramping