Wellness.com - What Is Concierge Medicine and Is It Worth It? by Rob Greenstein
Concierge medicine is known by many names, including direct primary care, private practice, boutique medicine, and retainer-based medicine. One of the fastest growing trends in medicine, the concierge medical model takes the business of medicine away from the assembly-line practice and brings medical care back to a personal relationship between doctor and patient - for a fee. Concierge medicine has been around for some time, with recent years seeing an increase as both physicians and patients look for a better way to manage health and medical care. In the past, retainer-based practice was only affordable to the rich. According to the American Academy of Private Physicians, many physicians are supporting a more blue-collar concierge service, with lower fees to include middle class patients. Even so, as more physicians consider switching to concierge medicine, patients are wondering if they will be left behind.-
- What Is Concierge Medicine? - Retainer-based medicine offers the patient unlimited access to their physician around the clock through a variety of options such as video, email, and by phone. A monthly or annual retainer fee may include basic primary care services, an annual physical and various office tests. However, concierge providers vary in services offered, with many providers charging additional rates for services on top of retainer fees. For the boutique physician, more time can be spent with each patient. Fewer patients are required to make money with the monthly and annual fees. With all fees being paid by the patient, there is no need to spend extensive time filling out piles of paperwork for reimbursement from insurance companies, helping to lower overhead costs by as much as 40 percent, according to the Wall Street Journal. Many concierge doctors have no support staff, answering phones and taking vital statistics themselves.-
- Pros of Concierge Medicine for the Patient - Quicker Appointments. The retainer provides for guaranteed appointments, with patients often being able to see their doctor the same day they call for an appointment. There is no need to wait days or even weeks to see the doctor if an illness or mild injury occurs. Longer Appointments. Instead of the 10 to 20 minutes of time typically allotted by other doctors, concierge physicians can give patients more of their time, with appointments lasting from a half an hour to an hour. Comprehensive physical exams may take several hours. 24-Hour Access. When patients have a problem or even a question, they can contact the physician through a variety of means, including online and by phone, no matter what time of day or night. Response times are much shorter than in typical medical practices, where the doctor may be too busy to even return calls. Personal Relationship. Because more time is allotted to each patient, the doctor and patient have time to build a unique and personalized relationship. This helps the patient to feel less like a number and more like a person. Better Health. With more time allotted for appointments, physicians can better get to know patients and offer more educational and preventive care options to help patients maintain better health, resulting in the need for fewer office visits in the long run. Save Money. Patients of retainer-based medical service providers can save money on certain tests, procedures, and even medications. Many services may be included in the monthly or annual retainer fee. Physicians can offer patients services and meds at wholesale prices. Physician can spend more time working to coordinate services with specialists and other care providers to help negotiate lower prices for their patients.-
- Pros of Concierge Medicine for the Physician - Fewer Patients. Concierge doctors typically cap their load to 500 or 600 patients, compared to traditional doctors who may have a patient load of 2,000 patients or more. Less Stress. Doctors who practice concierge medicine do not have to worry about extensive paperwork and dealing with insurance companies. With fewer patients, they can spend more time with each one, doing what they spent years being trained to do in a calmer and more relaxed environment. Less Overhead. Overhead costs are reduced with little or no time needed to fill out insurance paperwork. There is little to no need to hire or pay support staff, further reducing overhead. More Money. Even with fewer patients, concierge physicians can make more money with monthly or annual retainer fees. In return, these doctors are available for their patients when needed.-
- Cons of Concierge Medicine - Affordability. Not all people can afford to pay for concierge medical services. While lower-cost options are available, the monthly or annual retainer fees are still too much for many to afford, especially on top of required medical insurance premiums. Additional Costs. Retainer-based medicine typically covers primary care services only. This does not cover the cost of specialists, certain types of medical testing, hospital services, or surgeries. Furthermore, some direct primary care practices do not include services with their retainer fees, resulting in the need for patients to pay for each service received on top of the retainer fee. Waiting List. As concierge medicine becomes more popular, patients may have to wait to enlist with their preferred physician due to capping of patient numbers. Physician Shortage. There is already a concern in this country about physician shortages in some areas. As concierge physicians put a cap on their patient load, more people are in need of a physician. Those with lower incomes are especially at risk for being left without medical care. Insurance Issues. Most concierge physicians do not accept insurance. Thus, expenses related to retainer fees and services do not count toward deductibles or qualify for reimbursement from Medicare or other insurance providers. Many do qualify for payments via an HSA account, however.-
- Perspectives on the Concierge Approach - Concierge medicine offers patients what they should receive from medical care in the first place, but at an additional cost. However, as retainer-based medical practice becomes more widespread, patients may wish to consider this form of treatment. Organizations such as AARP consider concierge medicine to be a good option for those with chronic health conditions that require frequent visits to the doctor. A concierge doctor may be combined with health insurance benefits for a complete package of wellness. For those with high deductibles and co-pays, it might be beneficial to invest in a direct primary care physician for basic medical needs and use the insurance when necessary for covered specialty services or emergencies. In addition, the concierge physician works to provide coordinated services and continuity of care, often negotiating lower costs for the patient. Hybrid practices accept both traditional and concierge patients, devoting certain hours of the day to each type of patient. While many physicians may turn to full retainer-based services, it is projected that a large percentage of doctors may first experiment with the hybrid approach.-
- Major Players - Just a few of the major players in the concierge medicine arena include the following: - The American Academy of Private Physicians- can help direct patients to a concierge doctor by name or state of residence. Concierge Choice Physicians- offer a hybrid form of service, accepting both traditional and concierge patients with more than 200 physicians to choose from in 19 states. Concierge Medicine Today-, is a respected provider of up-to-date news in concierge medicine, and offers a physician finder for patients. MDVIP- is a personalized health care program to be used in addition to a patient's insurance, with fees currently starting at $1,500.00 per year. MedLion- currently operates in 10 states, with more being added in 2014. There are fees for services in addition to monthly fees. Specialdocs.com- is a consulting firm in health care that helps physicians to make the transition from traditional care to concierge medicine. More than 100 doctors in 21 states are already involved. Whether these agencies offer retainer-based services or help match patients with a private doctor, they can be a valuable tool in helping individuals determine if this type of service is both a medically and economically feasible options for individuals looking for a more personalized method of medical care. Smaller practices, not listed here, are available in many areas.-
- The Future of Concierge Care - With medical insurance providing coverage based more on catastrophic care, patients still must pay for most primary care services out of pocket, making concierge medical services a viable option for many. The Affordable Care Act opens the door for an increased need for such retainer-based services, with many patients being unable to afford medical coverage for basic services. With higher insurance rates that include fewer provided services, concierge medicine is likely to expand across the country. Only time will tell if concierge medicine will be beneficial in filling the primary care gap or if retainer-based medicine will turn doctors from the business of large patient loads to the business of catering to those who can afford their services. Selected Sources: - http://aapp.org/blog/why-concierge-medicine-is-wor... http://conciergemedicinenews.wordpress.com/2013/1... http://conciergemedicinenews.wordpress.com/2013/01...