Alexander Muckerman, from ECG Management Consultants, discusses concierge medicine's popularity among indepedent practice providers.
Editor's Note: this article originally appeared on ECG Management Consultant's website.
Over the last few decades, the US healthcare industry has seen an increasing number of providers leaving their independent practices for opportunities with hospital- or health system–employed medical groups. Providers are enticed by guaranteed salaries and reduced practice management responsibilities, especially considering the growing challenges of operating a successful private practice.
Providers who choose to remain independent frequently tout the benefits of controlling their work schedule, generating income based on their desired work effort, and ultimately owning their business. Unfortunately, many independent providers feel the patient volume levels needed to operate a profitable practice come with negative consequences, such as physician burnout, limited time afforded to each patient, and a practice approach that focuses on symptoms, rather than preventive and wellness care.
In response to these challenges, concierge medicine is becoming a more attractive option for providers who wish to remain independent, devote more time to patient care, and maintain a profitable practice. Under a concierge business model, providers significantly reduce their panel size and increase the level of preventive and wellness health services offered to patients. In exchange for an enhanced relationship and additional health services, providers collect a regular membership fee from patients, separate from the patients’ personal health insurance coverage. Click here to continue>>
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