July 29th, 2010
Money Dogs by elgin.jessica on Flickr
This question has probably been around since the first vets started charging for their services. The topic of veterinary care costs has been the subject of many conversations, debates, and even sparked some arguments. We have answers to this question, but sometimes this question just leads to … more questions.
When Anthony Holloway asked me about vet care costs recently, I chuckled a little. After all, he is the accountant type, not me. I realize that this is a multi-faceted question though, and the answer (if there is one) depends on your perspective.
I know that for me, I wanted to be a vet before I had any concept of what a salary was or even about money in general. I think I can speak for many vets when I say that the love of animals, principles of medicine and surgery, and the human-animal bond were what drove us into this profession, not huge earning potentials.
Deciding what to charge is complicated, with many factors to consider. Let’s take a look at a few.
The Cost Of Practicing Veterinary Medicine
Just like any business, a veterinary practice needs the basics. Here are a few things that a veterinary practice must have:
- A physical location or, if a mobile vet, an equipped vehicle
- Equipment – office, medical, laboratory, surgical, cages and kennels
- Employees – hourly wages, health care and tax costs
- Recurring costs – phone/Internet, advertising, outside laboratory fees
- Supplies – pet foods, drugs, surgical and laboratory disposables
These items add up quickly. We want the best for our pets – the quickest and most accurate diagnosis, the most effective drugs, surgical and dental techniques, and so on. Who wouldn’t? I want that for myself, too. Next, and I think this is where the costs/expenses/fees get hard to compare, are the special tools, equipment and services that each practice elects to offer.
The basics: Do pets receive IV fluids and pain medications with each surgery? What type of monitoring does each dental patient receive? Going beyond the basics, today pets are implanted with artificial limbs and pacemakers and a host of other amazing treatments and diagnostics. Sometimes these treatments are borrowed from human medicine, and sometimes pets pave the way for new technologies to be used in human medicine.
Getting What You Pay For
It is all great news for our pet’s health and longevity, but it comes at a cost. Practices want to have available what people are seeking for their pets and to be successful as a business (to pay employees, buy supplies and maintain equipment). The definition of “good medicine” varies with who you talk to. The definition of low-cost “basic care” also varies with who you talk to. The lines between what a general practice and a specialty practice offer are sometimes blurry.
So What Is The Answer?
I think that there are many answers. My answer is to shop around for a veterinary practice that “fits.” There is a need and a place for each type of veterinary practice, just as there are many types of veterinary clients. Some practices focus on the latest treatments and diagnostics, some focus on more common maintenance care. Some clients can afford the latest treatments, some cannot.
We all love our pets and want to provide the best possible care for them. However, pets incur costs. Sometimes emergencies happen and sometimes we adopt a pet in need when it may not be the “best” time for us. Finding a practice that resonates with your pet care philosophy (i.e. high tech hospital or home-based care), listens to and understands your concerns (about pets and finances) and will work with you to ensure a long and healthy life for your pet is the first step.
Related Reading:
- Tips to Save Money on Pet Care and Vet Bills
- Share your favorite cost-cutting tips for pet and vet care
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5 Responses to “Why Is Vet Care So Expensive?”
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Janet Tobiassen Crosby DVM never planned to be a writer. She wanted to be a veterinarian from the moment she learned such a job existed - sometime during the first grade, when she accompanied her mom to the vet with a sick cat. Janet "adopted" all the neighborhood cats, and at age 11 she started training her first dog, a newly adopted rescue Collie. At age 12, she joined a dog obedience 4-H club and was active through high school as a member and as a junior leader.
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Like Anthony, I too am/was an accountant (as is/was my wife Amy). You left out some key cost elements in your practice. What about college, vet school, and continuing education … you know, the stuff that gives the the knowledge and training to, you know, save pet LIVES! Have people paid a plumber lately … a car mechanic? And they only fix THINGS. Do you do any pro bono work? I imagine you may. Our vet didn’t charge us a dime when we first brought our abandoned Buster in for his first visit. Why? Office policy. Good vets cost good money!
So many is/was accountants! ;-D Yes – vet school is expensive – many grads are 100K+ getting out (but most don’t become practice owners right away) and continuing education, for vets and techs, plus pro bono work adds hundreds or thousands per year, too.
I could swear I saw a comparison years ago of overhead for a typical dental practice and a typical veterinary practice … as I recall, it showed high overhead and relatively low “profit” for veterinary practices.
Yours is a VERY expensive business to run.
I just returned from the vet where I paid $560 for my dog to be treated. He had a bad abcess on his neck. The high charges were for lab and radiology. The blood test alone was $200+. What I don’t understand is why it costs as much or more as tests do for humans. I understand malpractice costs but surely vets don’t have the same premiums (if any) as physicians. I recently had 2 MRI’s done and was told by my doctor that they cost $50 in India…same machine, same trained technicians. Why? In our country they know they can get it…and with vets, they know how much we love our pets…they know we’ll pay it. Sickening.
Yes, insurance premiums – for business, malpractice, etc. – cost money for vets just like other professions and businesses. Equipment, lab fees and supplies all cost money, too. (Many clinics send out lab work, and are charged a fee by the lab.) Same for the wages for techs, receptionists and kennel workers. These costs are not subsidized by insurance as in human medicine, unless the pet has insurance coverage (not common). As Roxanne mentioned, the overhead costs for veterinary offices are high.