Our previous episode, number 531, was called Should You Trust Private Equity to Take

Care of Your Dog?

Private equity firms have been buying up veterinary practices lately, so this seemed

like a pretty straightforward question, but as it turned out, it's hard to answer.

In some industries where private equity has been around for a while, like human healthcare,

there is years worth of data that economists have analyzed, and they've found some good

outcomes for patients and employees, and some not so good.

With pet care, it's just too soon for that kind of analysis, so we are trying to figure

out as much as we can in real time, because let's be clear, private equity is coming for

your pet.

Today on Freakin' Arms Radio, we will hear from one veterinarian who worked at a practice

that was bought by private equity firm.

We had a huge staff turnover, so out of, say, 16 to 20 doctors, they maybe have five

of the original bunch.

We'll ask the CEO of a big pet care company, what's going on?

It's a very competitive labor environment for the best veterinarians, the best technicians.

Along the way, we'll get a quick economics lesson.

Monopsony is typically the labor market analog to monopoly.

And I'll tell you what happened at the vet where I took my dog and how that led to our

making these episodes.

This is Freakin' Arms Radio, the podcast that explores the hidden side of everything,

with your host, Stephen Dubner.

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