To enhance patient care and increase income, some physicians have abandoned the traditional payment model. Customers pay a one-time fee to retain the services of a physician in concierge medicine, for example. Patients’ overall medical expenditures were found to be lower, resulting in a better value for them.
General Practice to Concierge Medicine
The concierge service is the future medical care. Concierge medicine has the following impacts on patients and physicians.
Model of Concierge Medicine
Although no two concierge services are the same, the majority of them have specific characteristics. In concierge medicine, a doctor charges an annual cost, which may be paid in whole or installments, but the contract is for the entire year. The yearly fee covers in-depth, comprehensive therapy and tests that traditional insurance or government programs don’t cover.
Certain concierge medicine physicians still accept insurance and government-sponsored programs. Patient visits are usually charged in addition to the annual fee. They have access to longer appointment times, same-day appointments, after-hours phone calls, email, and online telemedicine conference meetings.
Patients’ Medical Care
Half or more of the daily patient visits are considered to be unnecessary. Many of these patients could be managed over the phone or with remote monitoring devices, and others did not even need to come in. Concierge medicine doctors only see patients who need visits and treat others through telemedicine or remote monitoring. This allows the personal doctor to respond promptly.
Even before the COVID-19 public health emergency, doctors searched for ways to monitor chronic health issues remotely. During COVID-19, telemedicine and remote monitoring have become more prominent. This kept high-risk people safe at home and reduced the danger of coronavirus infection.
Patient education is without a doubt the most challenging roadblock for doctors who wish to move to direct concierge care. The bulk of people are used to the conventional healthcare paradigm and are cautious of anything new. When a doctor switches practices, some of their existing patients may leave. Another thing to remember is that seeing fewer patients does not necessarily equate to more wonderful 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 cell phone number.
A concierge doctor must obey state business regulations and manage the practice’s operating expenses like any other business owner to earn a profit. This refers to how physicians and other medical professionals work their time. Patients may seek cheaper alternatives elsewhere if a doctor sets the first price high enough to cover those expenses and make the transfer feasible but not too costly. It may be tough to get the price point just right at first.
Physicians and customers are increasingly turning to concierge medical care to address rising healthcare costs and the need for higher-quality care. Because of the COVID19 pandemic, which has pushed telehealth services to the forefront, consumers are becoming more aware of and receptive to new ideas. The public, maybe more than ever, needs healthcare innovation.