Patients Embrace Hybrid Concierge Medicine

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It’s no surprise that more and more physicians are turning to concierge medicine practice models, particularly hybrid models.  But did you know that more patients are joining concierge programs than ever before? We work with large- and small-physician practices from coast to coast, and in the last few months, we can say definitively that the tide has turned — concierge medicine is booming.  If you understand the reasons why patients, doctors, and even physician groups are joining, it can help you to decide if a concierge model could work in your practice.

Why are physicians interested in concierge care?

• Enhanced compensation for the areas of patient care and service that are not properly valued in today’s reimbursement models.

• Greater stability in an unpredictable future. It is not only about the changes that appear to be inevitable. It is the ability to adapt in time to stay afloat.

• More control of the healthcare process. Concierge medicine gives doctors a greater say, a rebalancing of the control that has drifted toward insurers and plans.

• Recognition of excellence as defined by the patient.

Why are physician groups interested in concierge care?

• A growing market for the hybrid concierge model. With the emphasis on low-cost delivery of care, there is a growing segment of the patient market that is willing to turn to some form of self payment to get the type of care they want — high-level, personalized care delivered with convenience, all the original components of the medical home concept.

• Hybrid concierge does not interfere with established revenue paths in standard, vertically integrated systems, like captured referrals and ancillary services. It is a great way for groups to deliver both a traditional medical model as well as a high-level service program that taps into direct payment revenue in a volitional manner.

• There are many more regions of the country that can support a hybrid concierge model, versus full concierge programs.

• Practices with concierge programs are becoming more desirable in recent acquisition situations. Particularly with hybrid programs, their continuation in large groups has proved to be economically beneficial and consistent within the practice strategies.

• Physicians have a greater ability to positively impact their income through a direct patient payment approach, especially while adequate future compensation by traditional insurers is in doubt.

READ FULL STORY HERE

About Concierge Medicine Journal

Concierge Medicine Journal (CMJ) curates breaking concierge medicine news, and editorial opinion on a wide variety of topics relevant to the practice of Concierge Medicine.

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