Where does the money go when you pay a vet bill

So… where *does* the money you pay for consultations, diagnostics and treatment go when you have visited the vet (over and above direct help for your pet)?  The answer is multifaceted and the overall truth is very definitely not to make vets millionaires (here anyway!)

Our fixed costs

Simply in order to keep a Veterinary Practice running you have fixed costs such as : rent/mortgage, upkeep, heating, lighting, power, water and sewage costs – like all renters or building owners do.

Veterinary specific costs

Then you have veterinary specific costs with the purchase, running costs, maintenance, repair and upgrade of equipment such as endoscopy, x-ray, dental machine, blood pressure, oxygen generators or oxygen tanks, anaesthetic machines, drip pumps, syringe drivers, lab equipment, IT infrastructure….the list goes on and you would expect any good veterinary practice to have these and keep them safe and functioning.

Bear in mind that costs of things to us are going up and we have little choice but to pass this on to the client – any other service provider is facing the same problems.

‘Hidden costs’

There are also the hidden costs such as legal and other statutory obligations such as with the RCVS and the Veterinary Medicines Directorate (VMD) that shows us to be safe and effective in our running of the Practice.

Cost of medicines

These can be expensive for you but the truth is we have to order from certain wholesalers. You can often buy a drug cheaper online but these companies can buy in bulk and pass the savings on, and also do not have to do anything other than dispense the medication without the associated costs of running a clinic or the skill of a vet to prescribe the drugs and the dose, and to deal with any side effects. If there are medicines licensed for an animal then we are legally bound to use that drug and not the human equivalent. It can frustrate us too.

Salaries

We are a business and need to pay our staff. If we could do the job ‘for free’ we probably would but we all have our own housing, personal and family needs. Vets train for a minimum of 5 years and nurses for 2 and both undergo ongoing training and upskilling as you would expect for someone charged with taking care of your beloved pet. Salaries include mandatory pension and NI contributions. We need to pay a fair salary in order to retain staff – we couldn’t run a veterinary practice without staff and ideally you see the same faces each time you come.

You often hear the phrase ‘there is no NHS for pets’ and this is true – if we ourselves had to pay for each and every GP visit, blood or other diagnostic test for our health let alone a hospital stay – the cost of veterinary care would be put into perspective.

Value Added Tax – VAT

Lastly – were you aware that our fees include 20% VAT and this of course goes straight to the government.

Ultimately, we have to remember that it is a privilege not a right to own a pet and animals will get sick or have accidents as much as any other living creature; so having pet insurance or some money kept aside for unexpected bills is one of the best things you can do.