Why are veterinarian bills getting so ruff on the wallet?

Since 2020, the cost of veterinary care has increased about 40%—almost twice the rate of inflation. As a result, many pet owners say they've skipped necessary vet care. So, what's going on here? A veterinarian, and a lesser-known economic theory, have some answers. <br /><br /><strong>Related episodes: </strong><br /><a href="https://www.npr.org/2021/06/22/1009137378/the-vet-clinic-chow-down" target="_blank">The Vet Clinic Chow Down</a> <br /><a href="https://www.npr.org/sections/money/2012/02/21/147223073/the-tuesday-podcast-what-do-private-equity-firms-actually-do" target="_blank">What Do Private Equity Firms Actually Do?</a> <br /><br /><em>For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at </em><a href="http://plus.npr.org/" target="_blank"><em>plus.npr.org</em></a><em>. Fact-checking by </em><a href="https://www.npr.org/people/1268825622/sierra-juarez" target="_blank"><em>Sierra Juarez</em></a><em>. Music by </em><a href="https://dropelectric.bandcamp.com/" target="_blank"><em>Drop Electric</em></a><em>. Find us: </em><a href="https://www.tiktok.com/@planetmoney" target="_blank"><em>TikTok</em></a><em>, </em><a href="https://www.instagram.com/planetmoney/" target="_blank"><em>Instagram</em></a><em>, </em><a href="https://www.facebook.com/planetmoney" target="_blank"><em>Facebook</em></a><em>, </em><a href="https://www.npr.org/newsletter/money" target="_blank"><em>Newsletter</em></a><em>.  </em><br /><br />See <a href="https://pcm.adswizz.com">pcm.adswizz.com</a> for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences.<br /><br /><a href="https://www.npr.org/about-npr/179878450/privacy-policy">NPR Privacy Policy</a>