Concierge medicine offers a personalized healthcare approach where patients pay an annual fee for enhanced access and services from their physicians. This model is gaining popularity, particularly among older adults, as it addresses the increasing demand for healthcare services driven by rising chronic diseases and an aging population. Despite its higher cost, concierge medicine provides numerous benefits, such as same-day appointments and longer visits, making it a growing option in the healthcare market. Click here for article.
Growing Popularity: Concierge medicine is expanding rapidly, with an estimated 12,000 to 13,000 U.S. physicians offering subscription-based services, growing at 3% to 5% annually.
Target Demographic: Most members are aged 50 to 80, seeking personalized care to manage or prevent chronic illnesses, with over half of MDVIP's 400,000 members on Medicare.
Cost and Benefits: Annual membership fees range from $2,000 to $5,000, covering services like same-day appointments, longer visits, personalized wellness plans, and direct access to physicians.
Medicare Coverage: Concierge doctors who accept Medicare must adhere to Medicare-approved charges for covered services, but membership fees are not covered by Medicare or Medicare Advantage.
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