Skip to content
CARE for Pets logo

CARE for Pets™

Leading Consumer Advocate for Pets
  • Home
  • Veterinary Care
  • Medications
  • Insurance
  • Adopt
  • News Blog
  • About Us

Category: Insurance

Walmart Partners with Petplan to Offer Affordable Pet Insurance

November 14, 2020 Admin

Walmart recently expanded its full suite of pet offerings with the LAUNCH of Walmart Pet Care which includes PET INSURANCE,…

Continue Reading →

Posted in: Insurance

Lemonade Launches Medical Insurance Exclusively for Cats and Dogs

July 22, 2020 Admin

LEMONADE (LMND: NYSE), a peer-to-peer (P2P) property and casualty insurance company which offers renters and homeowners insurance in the United…

Continue Reading →

Posted in: Insurance

Pumpkin: Zoetis Launches New Pet Health Startup Offering Insurance for Cats and Dogs

July 10, 2020 Admin

Zoetis (NYSE: ZTS), the world’s largest manufacturer of animal drugs and vaccines with global sales of $6.3B in 2019 recently…

Continue Reading →

Posted in: Insurance, ZOETIS

MetLife To Enter Pet Health Insurance Market With Acquisition of PetFirst

January 1, 2020 Admin

MetLife Inc. (among the largest global providers of insurance, annuities, and employee benefit programs) recently announced that they have entered…

Continue Reading →

Posted in: Insurance

Trupanion – Pet Insurance Company Fined $100,000

July 4, 2019 Admin

The Washington State Office of the Insurance Commissioner which protects insurance consumers and oversees the insurance industry in the state…

Continue Reading →

Posted in: Insurance

Synchrony’s CareCredit Acquires Pet Health Insurance Company Pets Best

March 24, 2019 Admin

Synchrony (NYSE: SYF), a consumer financial services company recently ANNOUNCED that they have acquired pet health insurance company Pets Best.…

Continue Reading →

Posted in: Insurance, Veterinary

Toto Pet Insurance Enters Health Insurance Marketplace

August 5, 2018 Admin

TOTO PET INSURANCE has recently LAUNCHED a new pet health insurance product which is now available in over 30 states.…

Continue Reading →

Posted in: Insurance

PetInsuranceQuotes.com – Petco Acquires Pet Health Insurance Marketplace

March 8, 2018 Admin

Petco, which operate more than 1,500 Petco and Unleashed by Petco locations across the U.S., Mexico and Puerto Rico recently…

Continue Reading →

Posted in: Insurance, petco

Trupanion Express Rolls-Out Nationwide

February 9, 2016 Admin

North America’s second largest provider of pet insurance recently announced the nationwide roll out of Trupanion Express, a web based…

Continue Reading →

Posted in: Insurance, Veterinary

Nationwide Rolls Out All-Inclusive Pet Health Insurance

November 1, 2015 Admin

Nationwide, the first and largest provider of pet insurance in the U.S. recently rolled out a new insurance plan called…

Continue Reading →

Posted in: Insurance

Posts navigation

← Older posts
Newer posts →

RECENT POSTS

  • Chewy Expands Offerings with Launch of new Pet Health Insurance August 6, 2022
  • PetSmart to offer In-Store Practice Franchise to ‘Independent’ Veterinarians July 28, 2022

THE CORPORATIZATION OF VETERINARY MEDICINE

The acquisition of private-owned animal hospitals by corporate entities such as veterinary consolidators has accelerated over the last few years and is largely invisible to most pet owners because consolidators view the corporatization of a practice as a marketing liability. This has potentially serious implications for competition, pet healthcare costs and may worsen the labor shortage of veterinarians and veterinary technicians.
Are Consolidators Helping or Hurting Veterinary Medicine?

MANY CORPORATE PRACTICES LED BY NON-VETERINARIANS
Study conducted by CARE for Pets™ reveals that the majority of veterinary consolidators are led by non-veterinarians. These corporate entities employ a large infrastructure of managers and support teams and require significantly greater revenue to be profitable. Today, approximately 1 out of every 4 (based on recent trends, may reach more than 70% within the next 10 years) general veterinary practices in the U.S. are owned by corporate consolidators.
CEOs of Veterinary Consolidators and Hospital Groups

 

RECENT LABOR UNION ACTIVITY IN VETERINARY HEALTHCARE
First Veterinary Practice on East Coast to Unionize
According to union leadership, “today’s victory put the veterinary industry and private equity investors on notice about making sure their business model is based on equity and respect. We can’t afford to let this industry go the path of so many other industries destroyed by private equity investors. Now the hard work begins.”

 

IS QUALITY OF CARE IMPACTED BY COMMISSION-BASED PAY?
Today, approximately 2 out of 3 full-time associate veterinarians are paid on "production" (commission). Compensation models for veterinarians consist either of a fixed salary, salary plus commission, or 100% commission. This has potentially serious implications on the quality of veterinary medicine and on pet healthcare costs. A new hospital group startup is bucking the trend on commission pay and will compensate doctors "without the pressure of production-based salary."

 

CASE STUDY: Lack of Ownership Transparency in Veterinary Practices

Study conducted by CARE for Pets™ reveals many veterinary consolidators communicate misleading statements about ownership information on their individual practice websites which is most likely to create a false impression to pet owners that the practice is independently owned and locally operated.
Is Your 'Local' Animal Hospital Corporate-Owned?

IVPA EXCLUSIVE INTERVIEW: WHY LOCAL MATTERS
CARE for Pets™ interviews the President of the Independent Veterinary Practitioners Association (IVPA) about the importance, benefits, and value of independently owned & locally operated veterinary practices to pet owners and their companion animals, and to the local community.
Interview with Dr. Bonnie Bragdon of the IVPA

WILL PRIVATE EQUITY FIRMS TAKEOVER PET INDUSTRY?
Today, private equity (PE) firms control thousands of veterinary practices, major pet retailers, pet insurance companies and pet product manufacturers. Other pet care startups are founded and led by former employees of private equity firms and it is not disclosed in a transparent manner.
Private Equity Investments in Pet Care Industry

HEIGHTENED SCRUTINY OF PRIVATE EQUITY M&A DEALS
Today, approximately 3 out of 4 specialty and emergency clinics in the U.S. are owned by corporate consolidators. The Federal Trade Commission (FTC) says "private equity firms increasingly engage in roll up strategies that allow them to accrue market power off the commission’s radar."
FTC Intervenes PE Acquisition Citing Antitrust Concerns

 

ROLL-UPS MAY EXACERBATE VETERINARIAN SHORTAGE
Corporate entities such as private equity (PE) firms engage in roll-ups (buys several companies in the same market and merges them together) to enhance value and drive higher earnings. Veterinary consolidation leads to fewer and larger firms (less choices for workers). Its prioritization on short-term profits may pressure veterinarians to see high numbers of patients and adhere to appointment time restrictions. These working conditions may exacerbate the labor shortage of veterinarians and veterinary technicians.

 

ACCELERATE POSITIVE CHANGE IN PET CARE INDUSTRY
As "the internet's most trusted consumer advocate for the pet care industry,"™ CARE for Pets™ "seeks to empower pet owners to effect positive change in the pet care industry in order to provide the best care for your pet."
ABOUT US | BETTER CARE FOR PETS™ | TRADEMARKS

Copyright © Watchdog Media Group™
All Rights Reserved 2014-2022

Disclaimer: CARE for Pets™ (CFP™) - Part of the CARE for Animals Network™ (CFAN™), does not guarantee accuracy of displayed data nor endorse or recommend any pet products and services which may also include veterinary practices, veterinarians, pet insurance, and animal welfare organizations.

Copyright © 2022 CARE for Pets™ — Stout theme by GoDaddy