Support our online development, and advance our onground research initiatives in free market economics, as we seek to showcase the brightest Next-Gen minds.
THE ME-P DISCLAIMER: Posts, comments and opinions do not necessarily represent iMBA, Inc., but become our property after submission. Copyright © 2006 to-date. iMBA, Inc allows colleges, universities, medical and financial professionals and related clinics, hospitals and non-profit healthcare organizations to distribute our proprietary essays, photos, videos, audios and other documents; etc. However, please review copyright and usage information for each individual asset before submission to us, and/or placement on your publication or web site. Attestation references, citations and/or back-links are required. All other assets are property of the individual copyright holder.
Boutique Medical Practices – Wave of the Future or Mirage?
[By Dr. David Edward Marcinko; MBA, CMP™]
Briefly, a new-wave boutique, or concierge medical practice business model requires an annual retainer fee for personalized treatment that includes amenities far beyond those offered in the typical practice. And, as doctors may not accept Medicare patients for two years thereafter, there is no going back to the economic oasis if the model doesn’t pan out.
Rather, patients pay annual out-of-pocket fees for top tier service, but also use traditional health insurance to cover allowable expenses, such as inpatient hospital stays, outpatient diagnostics and care, and basic tests and physician exams.
Typical annual fees can range from $1,000 to $ 5,000 per patient, to family fees that top $20,000 a year, or more. The concept, initially developed for busy corporate executives, has now made its way to those desiring such service; but the masses have been slow to accept the new business model.
Conclusion
Your thoughts and comments on this ME-P are appreciated. Feel free to review our top-left column, and top-right sidebar materials, links, URLs and related websites, too. Then, subscribe to the ME-P. It is fast, free and secure.
Speaker: If you need a moderator or speaker for an upcoming event, Dr. David E. Marcinko; MBA – Publisher-in-Chief of the Medical Executive-Post – is available for seminar or speaking engagements. Contact: MarcinkoAdvisors@msn.com
OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:
- DICTIONARIES: http://www.springerpub.com/Search/marcinko
- PHYSICIANS: www.MedicalBusinessAdvisors.com
- PRACTICES: www.BusinessofMedicalPractice.com
- HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
- CLINICS: http://www.crcpress.com/product/isbn/9781439879900
- ADVISORS: www.CertifiedMedicalPlanner.org
- BLOG: www.MedicalExecutivePost.com
- FINANCE:Financial Planning for Physicians and Advisors
- INSURANCE:Risk Management and Insurance Strategies for Physicians and Advisors
Share this:
Filed under: Career Development | Tagged: Career Development, concierge medicine, LLC, MD VIP, MDElite, Transfusions |
The Leading Business Education Network for Doctors, Financial Advisors and Health Industry Consultants 
Lawrence R. Brownlee, MD – Tustin, Orange County, California – started a concierge medicine practice at the suggestion of some of his patients. After three years all is well.
MD Elite
mdelite.com
http://www.mdelite.com
LikeLike
Readers and Subscribers,
Transfusion LLC is a new company that recently jumped into the business of converting practices to concierge medicine.
This new competitor realized – like many physicians – that MD-VIP’s $500 per/patient per/year “franchise fee” is probably not really worth it.
Another alternative would be to hire a local marketing and advertising firm for your emerging CM practice. Of course, as the CM concept grows in the public’s eye, and pressure to reduce prices and increase medical quality blooms along with increased internet transparency for related information dissemination, the need for intermediaries of all types will decline.
Mary
LikeLike
The Doctor Will See – Your Credit Now
First Posted MSN: Friday, January 18 at 04:32 AM CT by Bob Sullivan
The folks who invented the credit score for lenders are hard at work developing a similar tool for hospitals and other health care providers.
The project, dubbed “MedFICO” in some early press reports, will aid hospitals in assessing a patient’s ability to pay their medical bills. But privacy advocates are worried that the notorious errors that have caused frequent criticism of the credit system will also cause trouble with any attempt to create a health-related risk score. They also fear that a low score might impact the quality of the health care that patients receive.
So, what do you think about this new credit score and its relevance – if any – to concierge medicine and HD-HCPs, etc?
Hope
LikeLike
More on Concierge Medicine
“75% of doctors report a growing dissatisfaction with the practice of medicine”
(2005 GAO 05-929 Concierge Care)
Catching-on, in Cleveland and the heartland.
Judy
LikeLike
Insurance Company “Ire” – Say What?
Were you aware that doctors who charge an annual fee to patients in exchange for customized care – including house calls – are drawing the ire of some health insurance companies?
United Healthcare confirmed that it is dropping four local doctors from its network in April because the company disapproves of their so-called “concierge medicine” model, while Cigna is also condemning the practice, in which physicians charge an annual retainer of $1,500 to $1,800 for patients who then receive more personal care.
Other major health insurers, including Aetna, Humana and Blue Cross Blue Shield of Texas, consider concierge care fine so long as patients are clearly informed that the insurers will not reimburse any of the retainer; according to a report in the Houston Chronicle dated March 13, 2008.
Now, as a former Aetna, Cigna and UHC medical provider, as well as a former UHC licensed insurance agent: “Say-What?”
Your comments and ”ire” are appreciated.
Dr. David Edward Marcinko; MBA, CMP™
Executive-Post
Editor-in-Chief
Atlanta, Georgia USA
LikeLike
Executive-Post Readers,
As a financial advisor, I recently interviewed Dr. Gallops of Naples Florida, who said “I can provide superior medical care with personal attention”, after successfully starting his concierge medical practice.
Dr. Gallops further explained that this business model is not for every doctor, nor for every patient. However, it has been successful for him. As an established doctor in Naples, FL with an excellent reputation, here are some of the reasons that allowed him to start his concierge medical service.
“My decision was not made overnight”, said Dr. Gallops. “I read about it seven years ago and did my research. After seeing some success stories, it still took me more than two years to transition. The final result was that it allowed me the time to focus on my patients, not insurance paperwork”.
A doctor’s reputation, ability to market themselves, and geographic area are some of the items they should consider before making a change.
In addition, consulting with advisors, health attorneys and accountants with experience in concierge medicine is desirable. But, this experience itself can be hard to tap-into, in this emerging model; and that’s why I’m a subscriber to the “Executive-Post”.
Amaury S. Cifuentes
CERTIFIED FINANCIAL PLANNER®
Certified Medical Planner™ [candidate]
LikeLike
Concierge physicians or private doctors care for fewer patients than in a conventional practice, ranging from 100 patients per doctor to 1,000, instead of the 3,000 to 4,000 that the average physician now sees every year.
VIP concierge doctors are accessible via cell phone or email at any time of day or night and offer other “special” services above and beyond the “normal” care provided. These services include comprehensive physicals, nutrition counseling, lifestyle improvements and more. Compared to traditional practice, concierge medicine ensures that patients receive well coordinated care and a high-level of quality in the medication received.
An example of a VIP Concierge doctor is Dr. David C. Rosenberg of Jupiter Concierge Family Practice. The address to his office is 2141 Alternate A1A South, Suite 200 Jupiter, Florida. It is located near the Calle Vija shopping center at the corner of Old Dixie Highway and East Indian Town Road in Jupiter.
Visit his website at http://www.jupiterfamilypractice.com or call 561-743-0005 to get more information about concierge medicine.
A Concierge Patient
LikeLike
CM to the Next Level?
HelloMD, a company that connects patients with the best doctors, offers faster appointments than regular patients can get, for a price: Its customers pay the doctors higher rates than insurance plans offer. And, they pay those rates in cash.
What makes HelloMD different than concierge medicine is its focus on specialty care. Rather than assembling a small group of doctors under one roof, HelloMD is a portal to the top specialists in every field, letting you buy your way to the front of the line.
Dr. Georgansky
LikeLike