Concierge Medicine FAQ
There are a lot of myths and realities about concierge medicine. Below we try to address some of the questions many people have about this great approach to personalized healthcare.
Is Concierge Medicine Expensive?
In the early days of concierge medicine much of the services were targeted at the wealthy. Today, typical costs of concierge medicine amount to $5 a day â€“ about the cost of a daily latte at Starbucks. Concierge Medicine of Stuart charges $2000 per patient and $3,600 per couple.
What About my Medicare or Health Insurance?
Medical insurance and Medicare benefits are necessary for patients to avoid bankruptcy in the event of an unforeseen medical catastrophe. Still, many people are finding that they can lower the cost of their total medical care by combining a high-deductible health insurance plan with a Health Savings Account, thus making concierge medicine quite affordable. Most commonly, concierge medical care coupled with high-deductible insurance is often equivalent to the cost of traditional health insurance.
Expect your Medicare to pay for: lab tests, mammograms, x-rays, durable medical equipment (DME), and specialistâ€™s appointments. Medicare will pay for most things except for Dr. Gilels concierge services.
Why Would a Doctor Choose Concierge Medicine?
Concierge physicians report greater job satisfaction because they can practice the way that they were trained â€“ taking the necessary time for their patients to develop treatment and diagnosis plans unrivaled in standard healthcare.
How Does Concierge Medicine Afford the Patient Better Healthcare?
Good doctors believe that it is morally wrong to practice inferior care. Providing good care to patients in the current reimbursement model while maintaining a practice of 2,000 + patients is not practical. The current model requires doctors to have 10-15 minute appointment times to see everyone. Patients and doctors understand that good care takes time, and the overhead of a primary care practice running $200K/year per physician, time and reimbursement are at odds with each other.
Concierge medicine allows physicians more rewarding styles of personal care, affording the patients vastly improved care that comes as a result of longer appointment times and the ability for the physician to follow the patient wherever they need, including the hospital, home, or rehab facility.
Is It True That Concierge Medicine Can Actually Save Money?
A study published by a reputable concierge medical group showed that the concierge approach to primary care saved $2,551 per patient due to decreased hospitalizations, and resulted in a 72-79% reduction in hospital re-admissions for serious illnesses.
Who Benefits Most from Concierge Care?
Patients and physicians are making the switch to concierge care because it benefits them both. Physicians are able to practice according to their best medical conscience while being appropriately compensated and patients receive high-quality care at a fair price. Itâ€™s a win-win.