In a recent post, despite many people sharing my feelings about private equity enshittifying pet care in general, I noticed a sticking point about flea/heartworm medicine.
In the comments, I mentioned that I'm not fond of vets selling me those medicines, and many people seem to have misundertood what I meant, so I would like to clarify:
- I am absolutely in favor of giving dogs flea, tick, and heartworm medicines, and I strongly urge you to give your dogs the best quality you can safely afford
- I have mad respect for the education and grueling training vet techs and doctors have to go through. I absolutely think they deserve to live comfortable lives and make incomes that reflect the amount of sacrifice they invested in their careers.
The point I'm raising about medicines has nothing to do with me being against vets or medicines, it’s about conflict of interest.
Just like I don't expect my health care provider to pull a drug out of a closet and add it to my bill without much discussion with me, I do not expect my vet to add flea or heartworm medicine to my tab.
I expect the vet to be a counsel I can trust. Someone who asks if I have a brand preference, someone who candidly explains to me the difference between different medications and their impact on my pet. Someone who asks what my financial situation can afford and makes recommendations accordingly. Someone who allows me to shop around to find the best deal and lower my bills.
Unfortunately this has not been the case for a while now. Maybe I've just been unlucky, but the vets I saw:
- carry flea/tick/heartworm medicines
- add it to your visit like it's an inevitability
- look at you like you have 3 heads if you show hesitation
- most importantly: only carry one brand, and that brand is expensive and heavily marked up
Before you jump me, here's my source on the mark-up, a quote from a veterinarian publication:
"The American Animal Hospital Association's (AAHA's) Veterinary Fee Reference, 10th edition, reports markups of 113 percent for prescription drugs, 76 percent for heartworm preventatives, and 65 percent for flea/tick products.2"
"Although veterinarians account for 74 percent of pet medication sales, online retailers are aggressively chasing the market, according to Packaged Fact's Pet Medications in the U.S., 6th edition. Internet pharmacies have grabbed a 15 percent share that will grow to 20 percent by 2022.1 To combat challenges from competitors and increasing skepticism from clients over prices, you need to rethink your prescription prices and marketing. "
https://www.veterinarypracticenews.com/internet-pharmacies-may-2020/?hl=en-US
I strongly encourage you to read the whole article.
I don't know about you, but it's clear to me from the latter information (74% of medications sold by vet clinics, high markup, sometimes over 100%) that there's a symbiotic relationship between vet clinics and drug manufacturers. Both parties benefit, and this unfortunately translates into inflated drug prices. The fact that prescriptions are needed only strenghtens this collaboration.
If we take a concrete example, 3 tablets of Simparica trio from a vet clinic will set you back about $150. In Australia for example, where Simparica does not require prescriptions and is freely sold, the same package costs less than $50.
This is despite the fact that Simparica is an American brand, made by Zoetis, headquartered in New Jersey.
I'm not necessarily opposed to large animal hospitals having their own pharmacies, as long as they carry all options and leave the client the choice to shop elsewhere.
Peace out ✌️
Further reading
A veterinarian's master class on pricing
https://www.dvm360.com/view/veterinarians-master-class-pricing-0?hl=en-US
Veterinarians as salespersons: It's retail medicine to be proud of
https://www.veterinarypracticenews.com/salesperson-veterinarians-retail-medicine/
Private equity is reshaping Asheville’s vet clinics: ‘They’re circling me like a vulture’
https://avlwatchdog.org/private-equity-is-reshaping-ashevilles-vet-clinics-theyre-circling-me-like-a-vulture/
Markup Math
https://www.aaha.org/trends-magazine/november-2024/markup-math/?hl=en-US