Pricing. Part 1: understanding pricing structures in the veterinary profession

In the evolving veterinary landscape, effective pricing is critical to balancing clinical excellence, client satisfaction, team wellbeing and business sustainability. With heightened scrutiny from the Competition and Markets Authority, veterinary practices must adopt transparent, well-researched pricing strategies. This article explores the importance of pricing in covering operational costs, funding reinvestment and maintaining profitability. It examines common pricing approaches including value-based, cost-based, competitive and bundle pricing, and highlights their advantages, risks and implementation considerations. It also outlines various pricing models for client communication, such as pay-as-you-go, tiered and subscription-based plans. The article emphasises the need for alignment between pricing strategy, marketing positioning and client expectations. By selecting appropriate strategies and regularly reviewing them, practice leaders can ensure sustainable growth, improve client trust and enhance patient outcomes. Clear team communication around pricing is essential and a follow-up article will further explore this topic.