To enhance patient care and increase income, some physicians have abandoned traditional medicine. Customers pay a one-time fee to retain the services of a physician, which is known as concierge medicine. Patients’ overall medical costs were found to be lower, resulting in a better value for them.
Converting to Concierge Medicine
This enables doctors to provide their patients with more comprehensive, personalized care in a less hurried environment. The impacts of concierge medicine are listed below.
Health Care Model
What is concierge health care? In concierge medicine, a doctor charges an annual fee paid in whole or installments, but the contract is for an entire year. The yearly fee covers in-depth, comprehensive therapy and tests not covered by traditional insurance or government programs. Some concierge medicine physicians accept insurance and government-sponsored programs.
Patient visits are usually charged in addition to the annual fee. They may take advantage of longer appointment times, same-day visits, after-hours phone calls, email, and online telemedicine conference meetings.
Medical Care for Patients
Half or more of daily patient visits are considered to be unnecessary. Many of these patients could be treated over the phone or with remote monitoring devices, and others didn’t even need to come in. Concierge medicine doctors only see patients who need in-person care and treat others through telemedicine or remote monitoring. Clients have been impressed with the prompt and quality personal medical care.
Even before the COVID-19 public health emergency, doctors searched for ways to track chronic health issues remotely. During COVID-19, telemedicine and remote monitoring were prominent. This kept high-risk people safe at home and reduced their chances of contracting the coronavirus.
Patient education is, without a doubt, the most challenging roadblock for doctors who wish to move to direct concierge service. The bulk of patients are used to the current healthcare paradigm and are cautious of anything new. Some of a doctor’s existing patients may leave when they switch practices. Another thing to remember is that seeing fewer patients does not necessarily equate to more excellent one-on-one time. Patients who pay a one-time fee may expect access to their doctor 24 hours a day, home visits, and, in many cases, the doctor’s mobile phone number.
To earn a profit, a concierge doctor, like any other business owner, must obey state business regulations and keep track of the practice’s operating expenses. This refers to the time management of physicians and other medical professionals. Patients may seek cheaper alternatives elsewhere if a doctor does not set the first fee high enough to cover those expenses and make a move feasible. At first, it may be tough to get the price point just right.
To address rising healthcare costs and the need for higher-quality treatment, doctors and customers are increasingly turning to concierge medical care. Due to the COVID incident, which has pushed telehealth services to the forefront, consumers are becoming more aware of and receptive to new concepts. Perhaps now, more than ever, the public needs healthcare innovation.