Joe Spector

Yep.

Just to put a pin in that, veterinary care has grown 2x the rate of inflation.

So we talk about inflation.

The cost of?

Yeah.

So the inflation is already high.

Yeah.

Veterinary inflation is double.

It's like 2x.

That's how crazy it is.

So something that was $50 is literally $100 a year later.

Why?

There's a number of factors.

One, there's been a lot of private equity consolidation in this space.

Follow the money.

So, you know, that just means less supply and the demand's only growing.

That's one big factor.

The other factor is because it's a cash pay industry, there's really no insurance.

Veterinarians, and you'll read this in trade magazines,

they build their business on production which is basically selling you more stuff yes so a third of their revenue is dependent on you getting a blood exam getting x-ray etc and i think to be clear like the rank and file veterinarians are doing this only because they love pets i think what's happening is it's the few business owners and ultimately like i said private equity