The Rising Cost of Veterinary Care: Why It’s Up 60% in the Last Decade and What Pet Owners Can Do About ItFarevet Blog

Over the last ten years, veterinary care costs in the United States have surged by more than 60%. With inflation impacting everything from housing to groceries, the increasing cost of pet care places additional strain on pet owners, many of whom struggle to afford even routine veterinary visits. Yet, as prices rise, our furry family members continue to need preventive, emergency, and long-term health care. Understanding what’s driving these costs and how to make informed, affordable choices is key to ensuring pets receive the care they need.

Why Veterinary Costs Are Rising

Several factors contribute to the increase in veterinary costs:

1. Advancements in Veterinary Medicine

   
   

   Over the past decade, veterinary technology and medical knowledge have made incredible strides. From advanced imaging techniques to minimally invasive surgeries and complex diagnostics, veterinary care today often mirrors the high-tech solutions seen in human medicine. While these innovations improve animal health outcomes, they also come at a price. Equipment, training, and the specialized expertise required for these services increase operational costs for veterinary practices, and those expenses often trickle down to pet owners.

2. Veterinarian Shortages and Increased Demand

   
   

   The demand for veterinarians is outpacing supply, with a notable shortage of professionals in the field. This imbalance has driven up wages for veterinary staff, particularly as they’ve shouldered higher caseloads and pandemic-related pressures. Furthermore, the increase in pet ownership, especially during COVID-19, has meant a greater demand for veterinary care, amplifying the cost and wait times for appointments.

3. Inflation and Rising Operational Costs

   
   

   Just as rising inflation affects households, it also impacts veterinary clinics. Costs of medication, medical supplies, and general clinic upkeep have all increased, pushing clinics to raise prices to maintain their standards of care. Additionally, veterinary staff, from veterinary technicians to receptionists, are demanding fair wages in line with the increased cost of living, which also contributes to the rising cost structure.

4. Preventive and Specialized Care

   
   

   As more pet owners become aware of preventive care’s importance in extending their pets’ lives, clinics have added wellness services like dental cleanings, annual screenings, and specialized diets. Although these services are crucial for health maintenance, they are often not budgeted for and can add significant costs over time.

How Rising Costs Impact Pet Owners

For many pet parents, the increase in veterinary costs has a direct impact on their finances and sometimes even their ability to keep their pets. Emergencies, such as sudden injuries or illnesses, can lead to high, unexpected bills that not all pet owners are prepared to cover. In some cases, pet owners may delay or forego essential treatments due to cost, which can lead to worse outcomes for the animals.

A survey by the American Pet Products Association found that nearly 40% of pet owners said they were concerned about affording pet care, and over 30% had gone into debt to cover a veterinary expense. With an estimated 67% of American households owning at least one pet, it’s clear that this issue affects millions nationwide.

Strategies for Pet Owners to Manage Veterinary Costs

Fortunately, there are ways pet owners can take control of their veterinary expenses and ensure their pets still receive top-notch care without breaking the bank:

1. Compare Veterinary Costs

   
   

   As prices for the same services can vary greatly from one clinic to another, comparing costs can save pet owners hundreds of dollars annually. Platforms like FareVet, for example, offer transparency by allowing pet owners to compare veterinary costs in their area, empowering them to make financially sound decisions without compromising on care.

2. Explore Pet Insurance Options

   
   

   Pet insurance has grown more popular as a means to offset costs, particularly for emergencies and chronic conditions. By choosing a policy that aligns with their pet’s needs and their own budget, owners can avoid hefty out-of-pocket expenses for unexpected issues.

3. Consider Preventive Care Plans

   
   

   Many veterinary clinics now offer preventive care packages, which bundle services like annual exams, vaccinations, and screenings at a discounted rate. These packages make routine care more affordable and help catch potential health issues early, saving money in the long run.

4. Look into Veterinary Financing or Credit Options

   
   

   Financing options, such as veterinary credit cards and installment plans, offer manageable ways to pay for treatments over time. While they do carry interest, they allow pet owners to access necessary care immediately rather than delaying or forgoing treatment.

A Look to the Future

As the cost of veterinary care continues to rise, finding solutions that balance quality care with affordability becomes crucial. Veterinary transparency platforms like FareVet are stepping in to bridge the gap, enabling pet owners to make informed choices and reducing the financial stress often associated with pet ownership. Pet owners deserve accessible, affordable options that allow them to prioritize their pets’ health while managing their budgets.

With a combination of cost comparison, preventive care, and financial planning, pet parents can navigate the rising cost of veterinary care and continue to provide their pets with the love and care they deserve.