The Daily
Loving Their Pets to Debt
Jul 12, 2024
Katie Thomas, an investigative health care reporter for The New York Times, delves into the skyrocketing costs of veterinary care in the U.S. She reveals how this sector has transformed into a multi-billion-dollar industry, mirroring human healthcare. Listeners learn about the emotional and financial struggles pet owners face, from heartbreaking stories of tough decisions to the challenges posed by corporate consolidation in the veterinary world. Thomas also addresses the limited coverage of pet insurance and the pressures of social media on pet care decisions.
24:44
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Quick takeaways
- Increasing cost of veterinary care due to cultural shift in pet ownership
- Rising financial burdens on pet owners leading to extreme measures to cover healthcare expenses
Deep dives
Rise in Veterinary Care Costs
Over the last decade, the cost of veterinary care in the US has surged significantly, outpacing the general rate of inflation. Prices for veterinary services have escalated by over 60%, while services overall have risen by about 30%. This increase is attributed to a shift in pet ownership culture, with more Americans considering their pets as integral family members, leading to a higher demand for sophisticated medical procedures and treatments.
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