$200 for a BASIC vet visit is outrageous. If this is the normal office call pricing I'd be looking for another vet! If that price included vaccinations, lab work, xrays or something then it probably wasn't that bad of a deal.

Apparently the cat has been losing weight for quite a while now, the longer that goes on without the cause being treated the more damage can happen to organs. I'd recommend someone get the cat to the vet, or another vet ASAP.

Drinking lots of water and peeing alot can be something quite serious from diabetes to kindey failures to hyperthyroid. It is not something to sit back and just 'watch', it is something requiring a vet visit as soon as it's noticed. The hair loss may or may not be connected with the weight loss.

Please make the earliest appt. for this cat you can get and allow them to at least run some basic lab tests to determine the problem.

Please keep us posted on what happens. I hope they can help the kitty get back to purrrfect health again.