Why Concierge Medicine?
What’s so great about concierge medicine?
Does it really make a difference?
Concierge medicine goes by many names: boutique medicine, retainer-based medicine, direct care, fee for service, VIP-Medicine and innovative medical practice design. They differ in the level of service provided and the fee charged. Estimates of U.S. doctors practicing concierge is less than 5000, a quarter of which have come to do so in the past year. Concierge physicians care for fewer patients than those in a conventional practice, ranging from 50 patients per doctor to 1,000. Some of the benefits and services typically included this retainer models are: same day access to your doctor; immediate cell phone and text messaging to your doctor; unlimited office visits with no co-pay; little or no waiting time in the office; focus on preventive care; customers service directed atmosphere; and online consultations; prescription refills; and convenient appointment scheduling. Many fee for service /retainer plans may be purchased using flexible spending accounts or health saving accounts offered.
A concierge care practice is built around the principle that quality time spent with each patient is better than scattered hurried visits with reflexive prescribing and often unneeded testing. While relatively new Direct care medicine (aka Concierge medicine) has actually been around for the greater part of 20years. The idea revolves around comprehensiveness, not just in acute matters but also in preventive care, risk stratification and regular follow-ups with an educational component.
A study by the Mayo Clinic comparing this model to routine medical practices, found that:
5% of patients were diagnosed with a potentially life threatening disease not yet discovered
35% of patients had a previously undiagnosed serious condition
47% of new patients had a risk factor for a serious condition not being addressed
Another recent study on patients under this direct care model noted a 65% fewer hospitalization rate than similar patients under the traditional system. A third-party evaluation of 2008 data showed that MD-VIP patients had 61.3% fewer hospitalizations compared with similar patients in commercial insurance plans, and 74% fewer hospitalizations compared with Medicare patients of similar age, gender, and disease . Based on an independent research collaboration Concierge Medicine Today based in Atlanta, GA released a 3-year summary of what was identified about concierge practices and their clients is as follows: The combined average annual income of a typical patient under this model is between $50,000 to $200,000 per year, the average number of patients seen varies from 4-8. The average charge for this type of care ranges from 100 dollars a month to 1000$ a month, or a single yearly payment can also be charged.