Three Year Analysis of Concierge Medicine Shows Encouraging Signs For Boosting Primary Care Medicine In U.S.

concierge medicine doctor infographic 2014ATLANTA, GA | NOVEMBER 14, 2013 — [Michael Tetreault, Editor-In-Chief] – The Concierge Medicine Research Collective, an independent health care research arm of the multimedia news publication Concierge Medicine Today based in Atlanta, GA has released a 3-year (2009-2012) summary of several surveys, interviews and polling data they’ve collected across the U.S. among active, currently practicing concierge medicine doctors. Results from their surveys concluded the following:

What Is Concierge Medicine?

Concierge Medicine refers to those primary care and family practice physicians who have chosen to provide healthcare services in a more convenient, accessible and cost efficient manner to their patients. These physicians charge patients a membership fee ranging from $600 to $1,800/year and higher. In exchange for this fee, concierge practices generally include 24/7 access to a personal physicians’ cell phone, same-day appointments with no waiting, personal coordination of care with specialists, personal follow up when admitted to a hospital or ER, house calls, and more. While a typical physician can carry a patient load of 2,500+ patients, a concierge physician generally limits their practice to between 300-600 patients or more. Concierge medicine is also referred to as: membership medicine; boutique medicine; retainer-based medicine; concierge health care; cash only practice; direct care; and direct practice medicine. While all concierge medicine practices share similarities, they vary widely in their structure, payment requirements, and form of operation. In particular, they differ in the level of service provided and the amount of the fee charged.

PREFERRED TERMINOLOGY TO BE USED TO DESCRIBE CARE (2009-2012).
Both Patients, Doctors, Executives and Members of the Media Were Asked ‘Which term do you prefer the media, doctors and others use to describe this form of healthcare?’

•    28% — I prefer the term ‘Concierge Medicine’
•    19% — I prefer the term ‘Membership Medicine’
•    6% — I prefer the term ‘Direct Care’
•    15% — I prefer the term ‘Direct Primary Care’
•    3% — I prefer the term ‘Direct Practice’
•    6% — I prefer the term ‘Retainer-Based Medicine’
•    2% — I prefer the term ‘Boutique Medicine’
•    6% — I prefer the term ‘Cash Only Medicine’
•    9% — I prefer the term ‘Personal Care’
•    2% — I prefer the term ‘Patient Choice Healthcare’
•    3% — I prefer the term ‘Private Medicine’
•    1% — Other

TYPICAL COMBINED ANNUAL HOUSEHOLD INCOME of A CONCIERGE MEDICINE PATIENT IN U.S. FROM 2009-2012.*

•    Less than $100k /yr. – Thirty-three percent (33%) of patients inside a concierge medicine practice earned an average combined household income of less than $100k each year from 2009-2012.
•    $100k – $200k/yr. – Nearly forty percent (40%) of patients inside a concierge medicine practice earned an average combined household income between $100k – $200k each year from 2009-2012.
•    $200k – $300k/yr. – Nearly fourteen percent (14%) of patients inside a concierge medicine practice earned an average combined household income between $200k – $300k each year from 2009-2012.
•    $300k – $400k/yr. – Nearly five percent (5%) of patients inside a concierge medicine practice earned an average combined household income between $300k – $400k each year from 2009-2012.
•    $400k – $500k/yr. – Less than three percent (<3%) of patients inside a concierge medicine practice earned an average combined household income between $400k – $500k each year from 2009-2012.
•    $500k – $600k/yr. – Just over two percent (2%) of patients inside a concierge medicine practice earned an average combined household income between $500k – $600k each year from 2009-2012.
•    $600k – $700k/yr. – Just over one percent (1%) of patients inside a concierge medicine practice earned an average combined household income between $600k – $700k each year from 2009-2012.
•    $700k+ /yr. – Just over two percent (2%) of patients inside a concierge medicine practice earned an average combined household income between $700k+ each year from 2009-2012.

ANNUAL COMPENSATION AMONG CONCIERGE DOCTORS IN U.S. REMAINED STABLE (2009-2012)
Concierge Doctors Were Asked ‘What has your average concierge medicine/private-pay primary care practice salary averaged over the past three years?’*

•    Less than $100k /yr. — Sixteen percent (16%) of concierge doctors earned an average of less than $100k each year from 2009-2012.
•    $100k – $200k /yr. — Thirty-six percent (36%) of concierge doctors earned an average of $100k – $200k each year from 2009-2012.
•    $200k – $300k /yr. — Twenty percent (20%) of concierge doctors surveyed earned an average of $200k – $300k each year from 2009-2012.
•    $300k – $400k /yr. – Eight percent (8%) of concierge doctors surveyed earned an average of $300k – $400k each year from 2009-2012.
•    $400k – $500k /yr. – Four percent (4%) of concierge doctors surveyed earned an average of $400k – $500k each year from 2009-2012.
•    $500k – $600k /yr. – Eight percent (8%) of concierge doctors surveyed earned an average of $500k – $600k each year from 2009-2012.

CONCIERGE MEDICINE DOCTORS OPERATE PRIMARILY IN PRIMARY CARE AND FAMILY MEDICINE BUSINESS MODELS (2009-2012)*

•    Over 60% of current U.S. concierge physicians operating practices today are internal medicine specialists.
•    The second most popular medical specialty in concierge medicine is family practice.

“We analyzed data we collected from concierge and private-pay medical practices, looked at the various models being used, reviewed popular trends, and assimilated a wide variety of information from various specialties from December of 2009 thru December of 2012,” said Michael Tetreault, Executive Director of The Concierge Medicine Research Collective and Editor-In-Chief of the respected multimedia news reporting publication, Concierge Medicine Today. “A surprising finding in this study was the increasing number of concierge pediatric and dental practices arising from 2009 to present.”

ECONOMIC and EMOTIONAL SATISFACTION LEVELS HIGH AMONG CONCIERGE MEDICAL PRACTICES
‘Five year after opening your practice, are you satisfied with your decision to practice medicine this way?’*

•    Forty-two percent (42%) of current concierge physicians are ‘Very satisfied’ – and said ‘I definitely made the right choice!’
•    Forty-one percent (41%) of current concierge physicians are ‘Satisfied’ – and said ‘I made a good choice. We’ll see what happens.’
•    Eight percent (8%) of current concierge physicians are ‘Unsatisfied’ – and said ‘This was a mistake.’

FINANCIAL STABILITY INCREASES OVER A 3 YEAR PERIOD
Comparison: 2009 Vs. 2012 – How is your practice doing financially compared to last year?*

•    2009 Survey — Nearly sixty percent (59.0%) of all current concierge physicians are doing ‘Better’ financially than one-year ago.
•    2012 Survey — Nearly ninety percent (90%) of all current concierge physicians are doing ‘Better’ financially than one-year ago.

•    2009 Survey — Twenty-nine percent (29.0%) indicated ‘No Change’
•    2012 Survey – Two percent (2%) indicated ‘No Change’

•    2009 Survey — Twelve percent (12.0%) indicated ‘Worse.’
•    2012 Survey — Ten percent (10.0%) indicated ‘Worse.’

AVERAGE AGE OF A CONCIERGE DOCTOR IN U.S. *

•    Age 28-29 – Less than one percent (<1%) of all current concierge physicians are between the age of 28-29 years old.
•    Age 30-39 – Almost thirteen percent (13%) of all current concierge physicians are between the age of 30-39 years old.
•    Age 40-49 – Almost thirty-two percent (32%) of all current concierge physicians are between the age of 40-49 years old.
•    Age 50-59 – Almost forty-five percent (45%) of all current concierge physicians are between the age of 50-59 years old.
•    Age 60-69 – Almost nine percent (9%) of all current concierge physicians are between the age of 60-69 years old.
•    Age 70+ – Less than one percent (<1%) of all current concierge physicians are over the age of 70 years old.

AVERAGE MONTHLY COST $$$ OF A CONCIERGE DOCTOR IN U.S.*

•    Less than $50/mo. – Eleven percent (11%) of surveyed concierge medical practices cost a patient less than $50 per month.
•    $51-$100/mo. – Nearly fourteen percent (14%) of surveyed concierge medical practices cost a patient between $51-$100 per month.
•    $101-$135/mo. – Nearly thirty-one percent (31%) of surveyed concierge medical practices cost a patient between $101-$135 per month.
•    $135-$180/mo. – Less than nine percent (<9%) of surveyed concierge medical practices cost a patient between $135-$180 per month.
•    $181-$225/mo. – Less than one percent (<1%) of surveyed concierge medical practices cost a patient between $181-$225 per month.
•    $226-$00/mo. – Nearly thirty-five percent (35%) of surveyed concierge medical practices cost a patient more than $225 per month.

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About Concierge Medicine Today

Concierge Medicine Today (CMT), is the premier news and multi-media organization and the industry’s oldest national trade publication for the direct primary care and concierge medicine marketplace. Their web site is the online destination for business, consumers and physicians to learn about the history of this industry, various business aspects of the marketplace, trends, breaking news and more that drive the conversation and generate the national buzz that concierge medicine and direct primary care is creating on a national and international level. For more information, visit: http://www.ConciergeMedicineToday.com.

About The Concierge Medicine Research Collective and Concierge Medicine Today

The Concierge Medicine Research Collective is an independent health care research and data collection arm of the multimedia news and reporting publication, Concierge Medicine Today based in Atlanta, GA. Concierge Medicine Today was the first news organization dedicated solely to the distribution, assimilation and reporting of news and educational information related to all aspects of concierge and direct primary care medicine.The Collective serves as an educational resource on all things concierge medicine and is geared towards those businesses, lobbyists, physician associations, health care advocacy groups and general consumers of healthcare who want to learn more about information available on the topic of concierge medicine. The Collective works in partnership with Universities, physicians, associations, businesses, individuals and even Graduate medical Students to further advance the educational awareness and facts surrounding unanswered questions about concierge medicine care in the U.S. and Canada. For more information, visit: http://www.AskTheCollective.org or http://www.ConciergeMedicineToday.com.

*Source: Source: © 2012 The Concierge Medicine Research Collective [www.AskTheCollective.org]; © 2013 Concierge Medicine Today [www.ConciergeMedicineToday.com]

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14 replies

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  1. AAFP INSURANCE: ‘Is Concierge Medicine Right for You?’ « Concierge Medicine Today
  2. DALLAS, TX: ‘In many ways, concierge medicine changes the focus of the practice back to the doctor and the patient by taking out the insurance company and the government…’ « Concierge Medicine Today
  3. BUSINESS: “The ‘concierge’ term gets people to imply high value, which is good. We want them to feel like they’re coming to a high-quality place,” Umbehr said. “But it also gets them to assume high cost. That’s OK, though, because I can show
  4. BUSINESS: “The ‘concierge’ term gets people to imply high value, which is good. We want them to feel like they’re coming to a high-quality place,” Umbehr said. “But it also gets them to assume high cost. That’s OK, though, because I can show
  5. BUSINESS: “The ‘concierge’ term gets people to imply high value, which is good. We want them to feel like they’re coming to a high-quality place,” Umbehr said. “But it also gets them to assume high cost. That’s OK, though, because I can show
  6. BUSINESS: “The ‘concierge’ term gets people to imply high value, which is good. We want them to feel like they’re coming to a high-quality place,” Umbehr said. “But it also gets them to assume high cost. That’s OK, though, because I can show
  7. BUSINESS: “The ‘concierge’ term gets people to imply high value, which is good. We want them to feel like they’re coming to a high-quality place,” Umbehr said. “But it also gets them to assume high cost. That’s OK, though, because I can show
  8. GOODMAN: ‘What If No Doctor Will See You? … when he opens a concierge practice, he’ll typically take about 500 patients with him (according to MDVIP, the largest organization of concierge doctors). That’s about all he can handle, g
  9. Best of 2013: Top “20″ Stories in Concierge Medicine, DPC and more. « Concierge Medicine Today
  10. NELSON, MD: Medicare’s Medigap Effect: Government Created and Government Hated « Concierge Medicine Today
  11. CNN Money: Help! I can’t use my Obamacare benefits « Concierge Medicine Today
  12. MEDSCAPE, Part 3: ‘… Is It Ethical to Let Patients Go? — Concierge Practices Even for Doctors Who Don’t Like the Idea.’ « Concierge Medicine Today
  13. Op/Ed: ‘Am I being asked to pay fees or for a concierge plan because other patients’ insurers don’t pay as well as mine does?’ « Concierge Medicine Today
  14. Concierge Medicine: The Future of Healthcare | Policy Interns

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