Wait. Hear us out!
The “OG” style of concierge medicine required small patient panels, which, obviously, would seriously impact referral networks and vertical business models. Healthcare organizations, rightfully, dismissed the notion out of hand. However, today’s models are different. They are flexible, adaptable, and they operate seamlessly alongside a traditional practice.
How do we know? Because Concierge Choice Physicians (CCP) is the industry leader in blended, or “hybrid” models, and large medical groups, hospitals, and institutes are our fastest growing market. We don’t say this lightly. Over the last few years, we’ve experienced tremendous growth in this sector.
A curious business administrator launches a simple pilot program.
Lately, that’s how it starts—a business administrator with a focus on problem-solving looks for new ways to generate much-needed revenue and greater patient satisfaction. Enter: membership medicine. CCP provides the necessary back-end research and support to help select the right physicians for a pilot program. We fund the launch, including marketing, patient communication and ongoing sales. The business administrator keeps a close eye on the program, engaging with the team and assessing how it positively impacts revenue, physician satisfaction, and patient relationships.
What comes next?
Inevitably, physicians in the pilot program become just the first wave to launch a Concierge Choice program. A second wave is added, and then additional physicians continue launching programs in cohorts or one by one. Why? Because primary care practices that had been operating at a loss are now generating significant revenue, and physicians are thrilled with the opportunity to practice a more satisfying style of medicine for part of their week. Patients also report great satisfaction with membership, as they receive an enhanced level of attention and support from the doctor of their choice.
How a simple, small pilot program adds up big.
Imagine five physicians are selected to launch a Concierge Choice pilot program, with membership in their program priced at $2,000 annually. Each physician gets just 50 patients to join. Without having to change a thing, five physicians generate $500K in new revenue that year alone. Most physicians get more than 50 patients. An average hybrid CCP program has 85 members, with membership fees skewing higher in most markets. It’s easy to see how these programs end up generating millions of dollars each year.
But there’s more! What began as a way to support revenue goals has proven to be a way to support physicians, many of whom struggle with burnout or are nearing retirement. Our membership medicine program is now an integral part of physician retention and recruitment plans. It turns out, physicians enjoy practicing a highly personalized, relaxed form of medicine while continuing to meet system goals. And they enjoy the professional stature that comes with it. Patients are willing to invest in membership to secure the physician relationship they want. The programs are even used to support non-for-profit community funding.
So, what’s the catch?
There is no catch—just good advice. These programs are now in high demand by both patients and physicians. The important thing is to work with an experienced partner. After all, it’s one thing to offer membership medicine, it’s another thing to have a successful, thriving program. Our deep industry experience and business-friendly approach help you launch a pilot program properly. Contact us at 877.888.5590 or answers@ccpmd.com to discuss opportunities in your medical group. Or visit us at: www.ccpmd.com/healthsystems to learn more.