Concierge medicine is a relationship between a patient and a primary care physician in which the patient pays an annual fee or retainer. This may or may not be in addition to other charges.
This is a growing alternative to the conventional practice for many reasons:
- Physicians are able to freely advise patients as they deem necessary, and to the best of their ability.
- Patients receive peace of mind and understand that their doctor is providing impartial and wholly objective advice.
- Physicians have low overhead costs from not having to hassle with insurance companies. These costs are paid by cash via their patient base.
- This revenue stream is a predictable cash flow for physicians
- Physicians are generally more profitable while also being less expensive to the patients because of the fact that both do not have to go through insurance companies.
- Physicians can see fewer patients and have more personalized time with them.
To learn more about concierge practices, visit The American Academy of Private Physicians (AAPP) at www.aapp.org. This organization is the national association of physicians who provide “concierge medicine,” fee-for-service, and other forms of health care delivery characterized by a direct, financial relationship between private physicians and their patients.
You can also attend the AAPP Summit on Concierge Medicine (April 30, 2011). Find out more HERE.
What is your opinion on the pros and cons of concierge medical practices?