Concierge Medicine Helps Physicians But at What Costs to the Patient: A Conversation with Casey Schwarz (March 5th)
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Listen Now Concierge medicine (also termed membership medicine, direct pay or cash only practice) has become a rapidly-growing care model moreover among primary care physicians. In concept, physicians charge patients a monthly or annual fee that can vary widely from approximately $50 per month to $25,000 per year (or accept cash only per visit). In exchange patients are promised greater access, longer appointment times and possibly services not typically reimbursed by payers. The current number of physicians practicing concierge medicine is today small, approximately 5,500 nationwide, however, concierge practices are expected to continue to grow at a healthy rate, currently estimated at 25% per year. While these fees enable physicians to reduce patient panel size and presumably improve physician satisfaction, the model by definition posses access problems for the sickest patients, typically those least able to afford a concierge fee. For example, among Medicare beneficiaries, in 2012 half of all had annual incomes less than $22,500 and for African American and Hispanic Medicare beneficiaries annual income was less than $15,000.
Concierge Medicine Helps Physicians But at What Costs to the Patient: A Conversation with Casey Schwarz (March 5th)
Concierge Medicine Helps Physicians But at…
Concierge Medicine Helps Physicians But at What Costs to the Patient: A Conversation with Casey Schwarz (March 5th)
Listen Now Concierge medicine (also termed membership medicine, direct pay or cash only practice) has become a rapidly-growing care model moreover among primary care physicians. In concept, physicians charge patients a monthly or annual fee that can vary widely from approximately $50 per month to $25,000 per year (or accept cash only per visit). In exchange patients are promised greater access, longer appointment times and possibly services not typically reimbursed by payers. The current number of physicians practicing concierge medicine is today small, approximately 5,500 nationwide, however, concierge practices are expected to continue to grow at a healthy rate, currently estimated at 25% per year. While these fees enable physicians to reduce patient panel size and presumably improve physician satisfaction, the model by definition posses access problems for the sickest patients, typically those least able to afford a concierge fee. For example, among Medicare beneficiaries, in 2012 half of all had annual incomes less than $22,500 and for African American and Hispanic Medicare beneficiaries annual income was less than $15,000.