Elite Health’s Hybrid Solution to Concierge Medicine

This patient’s quip voices the reality of what many private medical practices are facing. In order to make financial ends meet, doctors are forced to spend less and less time doing what they originally set out to do – to take care of their patients.

 

Fed up with the broken system, a growing number of doctors and patients have left traditional medical practices for a new venture called “concierge medicine”. Concierge medicine is a fee-for-service medical practice model in which membership fees allow doctors to reduce their patient loads, spend more time with each patient, and provide comprehensive care that is simply not feasible with the time and financial constraints in standard practices. Furthermore, the added revenue gives physicians the ability to not only maintain, but grow their practices’ revenue.

 

So, if the concept of fee-for-service healthcare is so great, why aren’t there more concierge medical practices?

 

The first, and most obvious, answer to this question is that many patients simply cannot afford pricey concierge membership premiums. Secondly, for a successful implementation, concierge practices require considerable financial resources which most practices simply do not have.

 

Dr. Steven Schnur and Dr. Perry Krichmar, co-founders of Elite Health Medical Group, discovered these dilemmas when they were developing their own concierge medical practice in Miami, Florida. “We wanted to find a way for all of our patients to have access to the benefits of concierge services and care while still being able to offer a traditional model that would add revenue to the practice instead of jeopardizing the revenue base,” says Dr. Schnur.

 

As an innovative solution, Dr. Schnur and Dr. Krichmar came up with the idea for the hybrid concierge practice model. This is based on the fee-for-service concept but offered at price points that are affordable for everyone. Their starting membership option begins at $14.95 per month and includes concierge-level services via web portal technology. This technology allows patients to have 24/7 contact with their physicians via video, phone and email “eConsultations”, online access to medical records, appointment and prescription request features, personalized health coaching, health tracking and education tools, emergency services, and more.

 

This low membership price-point offers what the practice fondly refers to as “concierge for the masses”. All of the patients benefit from this higher level of service, but don’t have to break the bank to receive it. The majority of the practice’s revenue is supplied through this membership option and it accounts for the largest portion of time spent with patients per day.

 

In addition, there are several other levels of concierge membership options available to patients including: Prevention Plus, Executive Membership, Corporate Wellness and Concierge Membership. These options incorporate comprehensive preventive and wellness features and are offered at price points from as low as $70 per year up to $75,000 per year. Members can also access high-end services which include house calls both at home and abroad through the wide-reaching network of affiliated physicians, personal cell-phone access to their doctors, nutrition and lifestyle coaching, and luxury travel via limousine and private jet.

 

Elite Health physicians have found that offering a hybrid of affordable and high-end concierge options to their patients allows the practice to retain a large patient base with whom they have a direct financial relationship. This gives them control over the practice’s revenue and, in turn, the added revenue has provided the necessary funding to offer patients the highest quality patient care technology, sophisticated diagnostic testing, and preventative services available in the country.

 

Elite Health has helped many other medical practices transition to this hybrid model of concierge medicine through a program they call Physician Solutions. Physician Solutions is an opportunity for other medical practices to become affiliates of Elite Health without having to invest in the expensive development of an individual concierge program. Affiliate physicians are given access to on-site business transition and implementation specialists, technology solutions including the patient web portal and electronic medical record integration, access to a global network of doctors who partner for diagnostic testing resources, marketing materials, and ongoing business consulting.

 

“Elite Health’s hybrid model constitutes a remarkable solution for physicians. The hybrid model aspires to accomplish this by shifting a fraction of the practice towards a consumer-driven healthcare model, supplying fair reimbursements, and offering a more sensible work/life balance for physicians,” says Dr. Steven Schnur.