The Costs of Caring for Pets

Pets these days are just like us. They get birthday cakes, day care and rubber boots to wear in the snow. Their health care is becoming more human, too — for better and for worse.

Decades ago, animal care was relatively rudimentary. Veterinarians usually owned their own clinics, and the options to treat a sick or injured pet were limited. Today, animal hospitals are equipped with expensive magnetic resonance imaging machines, round-the-clock critical care units and teams of specialists in cancer, cardiology and neurology. For pets and the people who love them, the advances are welcome.

But as animals’ health care has changed to more closely resemble our own, it has also taken on some of the problems of the human system, including the biggest one: cost. The price of veterinary care has soared more than 60 percent over the past decade, outpacing inflation. Private equity firms have snapped up hundreds of independent clinics, in a trend reminiscent of corporate roll-ups of doctors’ offices. Veterinarians around the country told me that they worry this is changing the way that they practice, as they face growing pressure to push costly treatments and order more tests.

The changed landscape means that even as veterinarians can do more for dogs and cats than ever before, pet owners face sometimes heartbreaking decisions about whether they can afford the care. (Read more in our story on the topic.)

Changes in the industry

About one-quarter of primary care clinics and three-quarters of specialty clinics are owned by corporations, according to Brakke Consulting, which focuses on the animal health industry. Sometimes, the corporate ownership is not obvious: Many private equity firms do not change the name of the vet clinic when they take it over.

Most veterinarians are paid, at least in part, based on how much money they bring into a practice, whether that is by ordering tests, selling prescription dog food or performing procedures. One veterinarian said she quit her job after she was told her “cost per client” was too low; another said she was told she needed to see 21 animals a day, about a half-dozen more than her current workload.