Branch vs Independent - the pros and cons
In the Veterinary community, there is a lot of discussion around Branch vs Independent. Even Pet owners are being made aware of the difference that it can make to care and cost. In this short post, I’ll take a look at these two systems and see the positives and negatives.
What are they
Corporate are run as a group of clinics across the UK. Oftentimes, they are run by a board of directors and a large number of shareholders. In the UK, most of these branch vets are run under the names: “IVC Evidensia, CVS Group, Medivet, Linnaeus, VetPartners and Pets at Home (which is VetsForPets and CompanionCare). PetsAtHome is run as a Joint Venture meaning that they are vets inside of a larger store. This means that they are not fully independent but also not fully corporate.
Independents are when the practice is owned by one or multiple vets. They often have more control of what they would like to offer in terms of treatment.
Issues
Branch Vet Groups are often criticked for their higher prices. This is because they have higher targets to meet for the corporate owners. This also means that owners may be subjected to unnecessary treatment for the sake of profit. The CMA (Competition and Markets Authority), suggested “improved transparency on pricing and vet ownership.” In the industry, there is not enough competition in the market to lower prices. In VetTimes, a report found that up to 40% of areas did not have enough competition for Veterinary practices.
Bu Independent Vets also face issues. They have less access to resources and more complex admin on insurance and money. This may mean that the vets in these practises may be likely to burn out.
It is not quite as black and white as this though. A lot really depends on the individual practice. Some Independent may not work well together and so even though they have more control on care, they may not have control over what the owner of the Vets want vs the Vet completing the treatment. It really depends.
Improvements
The CMA have got involved to ensure that pet treatment is as fair and accessible as it can possibly be. Practises will now have to publish pricing online, there will be easier access to comparison sites between vets, practises will have to make it clear that they are part of a chain and owners are to be told if they can get a written prescription for less money.
Branch Vets won’t be going away any time soon, and they still have their positives, but hopefully these improvements will increase competition in the market so that better quality care can be provided for pet owners.
https://pethealth.org.uk/health/independent-vs-corporate-vets-uk
https://www.bbc.co.uk/news/articles/c8j3020kl04o
https://uk.finance.yahoo.com/news/independent-vets-really-better-real-170706181.html