Why has veterinary care gotten so expensive?
Doe is just FEEL this way or is this true? It IS true!! According to the Bureau of Labor Statistics, the price of veterinary services rose by 6% from July 2023 to July 2024. That’s more than 2.5 times higher than the average of all consumer items. Over the last decade, it has soared by nearly 60%!
Why, you ask? Veterinary care is less like human health care in that it is an out-of-pocket expense for most people. Most people do not have insurance for their pets and big bills are typically unexpected. How does the average family take care of a bill for a beloved pet that has been hit by a car or attacked by another dog? Veterinary emergency care has come a long way and pets that would have been humanely euthanized in years past, now have a better chance for survival, but not cheaply.
There have been many seismic changes in veterinary medicine in recent years. There was a surge of increased pet ownership during the pandemic and a subsequent tight labor market that pushed up labor costs, which can be up to 60% of a practice’s expenses. Other factors like medication expenses, advanced diagnostic tests and corporate consolidation have also driven up costs in vet med. CT, in particular has a high cost of living which includes rents, mortgage payments, utilities and equipment.
Unfortunately, higher costs reduce affordability which can cause owners to delay care for their pets. Pets are particularly hesitant to pay for wellness care and instead focus on acute illnesses or emergencies. Delaying preventative care is the opposite of what experts recommend. If we cut back on our wellness visits, we also miss chances to uncover an issue that may be more expensive to treat later. Knowledge is the best preventative as treating a cat for diabetes is much easier than saving a cat in a diabetic coma that happens when we didn’t have the right information through early detection.
Pet insurance is an option for many along with planning for unexpected costs. Preventative care is the key, if we deal with problems early on, we lessen the chances of a really expensive emergency later on.
The good news? Our pets are living longer! Dog life expectancy has doubled in the past 40 years and housecats now live twice as long as their feral counterparts. Health care and better diets are largely responsible. We all know a super elderly pet, if not our own, a friend or relative’s pet. Just like us, our pets often live with many conditions that were a death sentence just a few years ago. Medical advances and medications have allowed our many animals to live with a condition and manage it instead of it being a necessary end. These breakthroughs aren’t free. Living longer, managing disease and medication all cost money.
The bottom line; you need to have realistic goals and discussions with your veterinarian. Yes, Fluffy may live a very long time with no accidents or injuries but disease comes for us all and every family has to know their limits. Is it fair to the pet to continue on? Is it fair to the family? Everyone has to figure this out for themselves, but your veterinarian is a great resource. They can help you determine your pet’s quality of life and what treatments are reasonable-for the pet and for your financial health.