NEWINGTON, Connecticut — Many pet owners are just like Eileen Scully, and would do nearly anything for their furry friends.
"I have a two-year-old Bassett hound who is the love of my life," Scully said.
But lately, she's been struck with sticker shock when paying for her dog Quinnie's health care.
"It's infuriating," she said. " She recently was spayed, which was not covered by the insurance, and cost about $1200."
That's $1,200 for a service that helps slow the pet population, at a time when shelters are getting inundated with surrendered animals.
"Shelter intake is on the rise, and we're seeing adoptions on the decline," CT Humane Society officials said.
Americans spent more than $38 billion on veterinary care in 2023, a number on the rise, according to Forbes.
"I don't fault the veterinary practices. I think it's the corporate model that's now taken over a lot of our vet practices that's to blame here," Scully said. "I love our vet practice, and they're very honest with me, and they are very good to us, but it's not sustainable for people that are probably lower incomes."
It's why U.S. Sen. Richard Blumenthal, of Connecticut, is teaming up with U.S. Sen. Elizabeth Warren, of Massachusetts, to fight what he calls, "Big Vet." Blumenthal said private equity firms are rapidly consolidating the industry, owning nearly one-third of all veterinary clinics, and those companies are cashing in on life-saving animal services.
"These private equity firms will buy individual practices, family practices or smaller practices in towns or cities, roll them up that is combine them, consolidate them under a corporate umbrella," Blumenthal said.
According to the Bureau of Labor Statistics, the cost of urban vet services jumped 7.9% from February 2023 to February 2024.
"Big vet is taking control over our health care industry for our pets. We owe our pets better than the kind of corporate greed and piggyback mentality that they receive when private equity takes over these," Blumenthal said.
Blumenthal and animal advocates agree the practice of profiteering off pets needs to end before basic animal health care becomes unaffordable for many Americans.
"How can people who want to bring pets into their homes afford to do so in a way that's not gonna bankrupt them or put them in excruciating debt?" Scully said.
Blumenthal is co-sponsoring a senate bill called "Stop Wall Street Looting Act" to address this issue.
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Bridgette Bjorlo is an anchor and reporter at FOX61 News. She can be reached at bbjorlo@fox61.com. Follow her on Facebook, X, and Instagram.
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