The Private Equity Veterinary Scam Making You Poorer and Killing Your Pets
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Why is veterinary care so expensive?
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How are private equity firms impacting veterinary practices?
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What role does the AVMA play in veterinary care costs?
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How is the veterinarian shortage affecting pet care?
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Thank you for doing it. So here's my real question. veterinary care, anyone who owns a dog or cat knows a lot about it. There's no backstop. There's no health insurance, whatever. And you'll pay anything because it's your pet. Right. It's a member of your family and it's getting really, really expensive. So can you just give us the overview? Why is it so expensive to say, bring your dog in for his shots? Like how does this system work?
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?
Why? There's a number of factors. One, there's been a lot of private equity consolidation in this space.
I could have guessed that.
Follow the money. So, you know, that just means less supply and the demand's only growing.
What are the consequences of private equity in veterinary care?
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 that are simply raising prices for something that you're going to pay for no matter what.
Yes.
And it's scaring people. So at Dutch, my company, 50% of our customers say they haven't been to a vet in three years or more. Oh, I bet that's right. People are scared that the moment they enter a vet's office, they have a $500 bill or more.
Literally. So let's just back up and go through these one by one. So the first is private equity. What... So private equity buys the model in general, buys small businesses, independent businesses, links them together for efficiencies, for cost savings, right? This is the idea. This is what they tell you. So how many, do you have any sense of how many vets are owned by private equity now?
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Chapters
8 chapters
1
Why is veterinary care so expensive?
0:00–0:08
2
How are private equity firms impacting veterinary practices?
0:08–0:52
3
What role does the AVMA play in veterinary care costs?
0:52–1:01
4
How is the veterinarian shortage affecting pet care?
1:01–2:57
5
What are the consequences of private equity in veterinary care?
2:57–5:06
6
How does telemedicine change veterinary care?
5:06–6:59
7
What legislative changes are needed for better veterinary access?
6:59–9:58
8
How can pet owners advocate for better veterinary care?
9:58–52:55
Speakers
3 identifiedMore from The Tucker Carlson Show
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