To offer better patient care and maximize revenues, some doctors have abandoned conventional medicine. Concierge medicine is one such approach in which customers pay a one-time charge to hire a doctor. They discovered that patients’ total medical expenditures were lower, resulting in a more excellent perceived value.
Transitioning to Concierge Medicine
This allows physicians to offer more thorough, private treatment to their patients in a less rushed setting. The following are some of the effects of concierge medicine on both patients and doctors.
Health Care Model
Although not every concierge service is the same, most of them have certain commonalities. A doctor practicing concierge medicine costs a yearly fee that may be paid in whole or installments, but the contract is for the entire year. The annual cost includes in-depth, comprehensive treatment and screenings not covered by conventional insurance or government programs.
Some concierge medicine doctors still accept insurance plans and government-sponsored programs. Aside from the yearly charge, patient visits are invoiced conventionally. They get shorter wait times, same-day appointments, after-hours phone calls, emails, and online telemedicine conferencing sessions.
Benefits to Patients
Approximately half or more of the daily patient visits were unnecessarily scheduled. Many of these patients could be successfully handled over the phone or with remote monitoring equipment, and some of them did not even need to come. Physicians that practice concierge medicine only sees patients who need visits and treat others via telemedicine or remote monitoring.
Impact of COVID-19
Doctors searched for methods to remotely monitor chronic health problems even before the COVID-19 public health emergency. Telemedicine and remote monitoring have been thrust into the spotlight during COVID-19. This kept people who were at high risk at home safe and decreased the chance of coronavirus infection.
Patient education is, without question, the most challenging obstacle for physicians considering direct concierge care. The majority of people are used to the traditional healthcare paradigm and are wary of anything new. A doctor’s existing patients may leave when they transition. Another thing to keep in mind is that seeing fewer patients does not always imply more one-on-one time with them. Patients who pay a one-time charge may anticipate 24-hour access to their doctors, home visits, and, in many instances, the doctor’s mobile phone number.
Like any other company owner, a concierge doctor must follow state business laws and keep track of the practice’s running costs to generate a profit. The doctors and other medical personnel’s time management is included in this. A doctor must set the initial price high enough to cover those costs and make the transition viable but not too expensive, or patients may seek out cheaper options elsewhere. It may be challenging to find the ideal pricing point at first. The concierge service is the future of medicine.
Concierge medical care is becoming more popular among physicians and consumers to deal with growing healthcare expenses and the need for higher-quality treatment. Consumers are becoming more aware of and accepting new ideas as the COVID issue draws attention to telehealth services. The public needs healthcare innovation now more than ever.