Concierge Business Model
The purpose of my research is to gather knowledge on the business model of hybrid concierge medicine and understand how the business model and if it can remain viable in today’s economy. My research will focus on benefits and challenges of the concierge model and compare other concierge business models, as well as the traditional standard health care model. Does this approach to delivering health care in a primary care setting benefit patients as well as the practice’s revenue?
I utilize Mary Baldwin’s extensive library and other medical online articles to discover information about the many different types of primary care business models. The information that I will be exploring is abundant. I will be considering information that involves
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The term concierge medicine refers to a growing development in the way healthcare is being provided in a primary care setting. This change addresses much of the dysfunction that is closely connected to the heavy strain on managed care practices and physicians. There are a few types of concierge practice models. The Concierge medicine or “boutique” business model involves an annual retainer paid by the patient annually. I spoke with Mrs. Jones, a Healthcare Quality Professional who manages a concierge practice regarding their billing process, she states that their practice bills the patient’s insurance for each appointment. The patient is liable for their deductible, any copays or charges that are not covered by their insurance plan. The retainer fee that patients are paying is for the direct access to a provider whom that they’ve built a relationship. Patients are being provided preventative care, have access to same day appointments, access after hour urgent care with direct access to their doctor. Other benefits include coordinated care and extended unrushed appointments. Typically the quality outcomes produced are higher for a concierge doctor due to the amount of time doctors spend with their patients, which in result helps build a relationship with patients who are more likely to return when healthcare issues arise. (S. Jones, personal communication, February 19, 2018) During my interview I was …show more content…
Most providers in a managed care setting are providing care for about 2,500 to 4,000 patients annually to ensure they can make a living from their day to day work week. Not only are the burned out primary care providers interested in the concierge model of care, so are patients. Patients who seek the concierge model of care do believe that the current model of care is working for them. Most patients are elderly or have multiple health issues or needs that the typical 10 to 15-minute appointment just wouldn’t fulfill. (S. Jones, personal communication, February 19,
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