Executive healthcare services, sometimes called executive concierge medicine, are a fast-growing sector in healthcare. Shorter waiting times, more personalized care, and greater continuity of care are all part of the appeal. With 89% of Americans valuing their relationship with a physician who knows their health background, more and more people are opting for executive concierge medicine.

Under this healthcare model, patients pay a monthly, bi-annual, or annual retainer fee, guaranteeing access to medical services 24/7 no matter what’s needed. Some patients do still pay some healthcare insurance, as well as for prescriptions and other additional healthcare charges – but the concierge doctor is responsible for the organization of their care.

Compared to traditional hospital-based medicine, it’s a radical departure. But what are the main differences? And what’s right for your level of care: executive healthcare services or hospital medicine? Find out below.

Executive concierge medicine works on a membership-based model. By restricting their pool of patients to a few hundred, concierge doctors can guarantee a personalized, accessible healthcare system. There are no waiting times, no pay as you go – just a single up-front fee.

Concierge physicians tend to have no more than 600 patients. They’ll see six to ten patients a day, with 30 minutes allocated for each appointment. Patients can also get access to advanced tests and screenings more easily.

Patients may still need to pay for more specialist treatments – although some concierge medicine groups have in-house specialists available for their patients. Nevertheless, patients can still end up paying for health insurance in addition to their concierge medical costs.

In comparison, hospitals offer a centralized and extensive medical service. With more patients per doctor, seeing even a traditional primary care physician can take several weeks. However, with a hospital’s worth of services available, you can typically expect more treatments to be covered under your insurance up to a certain level than for concierge medicine.

• Fewer patients: According to the Mayo Clinic, nearly 5,000 US physicians had approximately 1.2 million patients. Some regional services can treat even more patients. With concierge medicine, you don’t share your doctor with thousands – meaning they can see you more readily and remember the details of your case.
• More time: There’s no such thing as a 15-minute appointment in concierge medicine. Rather than trying to scramble through as many appointments as possible, concierge physicians dedicate more time to their patients, helping to solve their problems. With more time, you get a more thorough history and examination, as well as a chance to ask about your condition.
• Standard care included: Most standard procedures, like blood work, screenings, or physicals, are included as part of concierge care. You won’t have to pay copayments or deductibles for all doctor’s visits either.
• Financial planning: With high deductibles, you can end up spending considerable sums going to medical appointments, even with insurance. It’s hard to plan ahead. Under a concierge plan, you can plan for your annual or monthly fee, knowing there won’t be any hidden or secret charges.

• Fees vary: Like insurance payments, concierge fees vary between practices. Fees also tend to increase with age and do not always cover the same items, e.g., discounts on prescriptions.
• Insurance still needed: In some cases, health insurance is still required for hospitalization, certain specialist referrals, and specialist treatments. Concierge medicine can improve access, but you’ll still need to pay for the procedures themselves.

Contrary to popular belief, concierge medicine is not always more expensive than other healthcare options. In fact, in many cases, concierge medicine can provide improved medical access at a lower cost than traditional models.

Expect membership fees and monthly costs to range from $1,200 to $10,000 a year. Membership packages can sometimes be upgraded to include more and more services – like certain tests and medical access.

In addition to the membership fee, concierge medical practices still accept insurance like any traditional primary care practice. Health insurance can also reimburse patients for the additional fees of a concierge doctor, like outside labs or executive health assessments.

Nevertheless, most people who pay for a concierge doctor switch to a high deductible healthcare plan to save money, as the concierge physician handles most common healthcare procedures.

Consider how you currently use healthcare. What services do you use, and what do you prioritize for yourself? Here are some important questions:

• Do you need frequent doctor’s appointments to manage a chronic condition like diabetes?
• Is a concierge doctor worth the money if you need specialist treatment?
• Can you afford to pay for health insurance and a concierge membership fee?
• Are you frequently spending a lot of money seeing your primary care physician and could save money using a concierge service?
• Do you need access to 24/7 medical services?

While concierge medicine is an innovative medical model providing flexible, affordable medical care – it’s not for everyone. However, it’s a more efficient and effective way to seek medical attention for many.

Speak to our team to learn more about joining our concierge medical service. We can organize an initial appointment to review your past medical care and determine what’s right for you. We’ll explore all your options to find a concierge medical service suited to your needs.

We’re ready to answer all your questions about concierge medicine. Please let us know how we can help.