Why are veterinarian bills getting so ruff on the wallet?

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• 00:11

  NPR Paying for healthcare isn't just a problem for people.

• 00:15

  In the past few years, the cost of healthcare for pets has actually been surging.

• 00:19

  For a point of comparison, get a load of this stat.

• 00:22

  According to the Consumer Price Index, which tracks the price of goods and services,

• 00:26

  overall prices in the economy are about 25% higher today than they were five years ago.

• 00:32

  But over that same period, the cost of veterinary services increased by about 41%.

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  Yeah, that is a steep increase.

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  And according to a recent Gallup survey,

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  most pet owners say they have skipped necessary vet care because of the cost.

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  So what is going on here?

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  This is The Indicator for Planet Money.

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  I'm Adrian Ma.

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  And I'm Darian Woods.

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  Today on the show,

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  what is behind the rising cost of care for our furry or feathered or scaly friends?

• 01:05

  And we have an economic theory that helps explain what's going on.

• 01:10

  I Want It That Way was a Backstreet Boys banger, but was it also a secret economics lesson?

• 01:15

  If you watch the music video,

• 01:16

  you can really see an illustration of the concept of comparative advantage.

• 01:21

  All right.

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