Growth of Concierge Medicine Means Opportunity

July 22 2008 | Kathy Crosett

With physicians facing potential cuts in Medicare payments and increased costs related to health information privacy and insurance claims processing it’s no surprise that some are looking in new directions to raise revenue. One business model garnering increased attention is concierge or boutique medicine. These physicians privately contract with patients and usually don’t accept insurance. While the specific delivery of services varies, in general, patients pay a fixed annual fee and in exchange, the physician is available for preventive and routine health care often through a mix of office visits, telephone calls and email.

The benefit to physicians is the chance to practice medicine instead of running an insurance claims business and the benefit to patients is personalized medicine.

What’s the drawback? At least one physician publication notes it’s difficult to develop a good marketing campaign.

Are there physicians in your marketlooking to shift to concierge medicine?

Sources:

DeJesus, Jose. “The Pros and Cons of Concierge Medicine,” PhysicianEntrepreneur.com, 12.16.2007

Harrington, Kate. “Concierge medicine gaining popularity in Austin,” AustinBusinessJournal, 7.11.2008

 

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  • http://www.conciergemedicinemd.com Steven Knope, M.D.

    Concierge medicine is indeed a rapidly growing model of medical care. It is largely consumer-driven. I opened one of the first concierge practices in the country 8 years ago. At the time, there were only a handful of concierge physicians in the country. We now estimate that there are well over 1,000 concierge physicians, with hundreds of thousands of patients under their care.

    I’ve just written the first book on the topic, “Concierge Medicine; A New System to Get the Best Healthcare” (Greenwood/Praeger, May 2008). Concierge medicine represents a viable alternative to fast- food medicine, as well as a rational alternative to a nationalized healthcare system.

    Steven D. Knope, M.D.
    http://www.greenwood.com/catalog/C35477.aspx
    http://www.conciergemedicinemd.com