A silent revolution has been going on in the veterinary industry in recent years that pet parents may not be aware of. Private Equity Firms (PEFs) have been buying up veterinary practices and consolidating corporate ownership of veterinary clinics around the world. PEFs have spent more than $60 billion in the veterinary industry since 2017 and approximately 1 in 3 veterinary practices are now corporate owned (source: https://www.pets.care/news/2024/05/whats-behind-the-high-cost-of-vet-care/). Corporations such as Mars, Inc. alone, owned by the third-wealthiest family in the US, has acquired more than a 1,000 veterinary clinics (Veterinary Centers of America).   

Why is this trend problematic? For starters, the primary goal of PEFs is to make profits for their investors. As such, PEFs may resort to business practices that focus more on the bottom line than providing the highest quality care to their patients.   

Journalist Meg Marrs points out in her article “Why More Vet Clinics Are Getting Devoured By Corporate Green (And Why Owners Should Worry)” that some of the concerns for pet parents include:   

  • Longer Wait Times: When a business focuses on profits, cutting staff is often a quick way to boost revenue. One result of this can be significantly longer wait times for clients and fewer available technicians and assistants.
  • Less Time with Your Veterinarian: Staff at corporate-run veterinary practices have expressed feeling pressure to shorten visits and to see a quota of patients during each of their shifts. This can lead to fewer opportunities to get your questions answered as well as to open up the possibility of missed diagnoses and medical errors.
  • More Expensive Veterinary Visits: With corporate consolidation and a focus on revenue inevitably comes price increases. The more practices that are under corporate control, the less competitive pricing a client can find and choose from.
  • Promotion of Expensive Procedures: Clinics driven by revenue goals will focus on selling higher cost medical care rather than preventative and wellness-focused care as these are not only lower cost upfront but may also help prevent future medical care needs.
  • Possible Increase in Unnecessary Medical Care: Upselling medical procedures and padding veterinary bills with unnecessary treatments is another tactic that may be used to reach profit goals.

What You Can Do   

As a pet parent, you want the best care for your pet. When researching veterinarians, inquire about the practice ownership. Seek out independently-owned and operated veterinary clinics that align with your healthcare goals and objects. If you choose a non-corporate practice, understand that longer visits and smaller staffs may mean longer wait times (although at Longevity this does not apply). Independent local practices will give you more opportunities for developing a personal relationship with your veterinarian and center staff.   

At Longevity, we are proud to be a family-owned and operated veterinary center with a focus on wellness and integrative care to help bring health and vitality to your pet. To learn more about our practice in Whippany, NJ reach out of us at (973) 606-1101.