As vice president of medical management at Zenith Insurance in the early 2000s, Matt Jacobson liked the company’s unique approach to workers compensation benefits. “We paid doctors better rates than the fee schedule required to have the right docs to do the right surgery, rather than paying the lowest cost providers and having people get complications, go into rehab or get addicted to drugs,” Jacobson said.
He applied the same model when co-founded the concierge medicine management company SignatureMD in California in 2006. Concierge practices charge patients a flat retainer fee that is applied towards the cost of care. SignatureMD is what Jacobson calls a “turnkey concierge service provider,” helping docs convert to concierge with a panel of 300-600 patients and handling their overhead. The Santa Monica, California-based company serves concierge doctors working in Southern California, the Bay Area, Colorado, Florida, greater Washington D.C. and St Louis.
RELATED STORY … Largest concierge medicine group in U.S. sued for alleged anticompetitive behavior
Healthcare Dive Brief:
- SignatureMD is suing MDVIP, the largest concierge medicine company in the U.S., over alleged anticompetitive practices.
- SignatureMD claims it has had difficulty expanding in certain markets because MDVIP is using non-compete clauses and alleged termination fees of up to $1 million to keep local concierge physicians locked into their system.
- While SignatureMD argues that MDVIP has a monopoly, with a market share of 70% and higher in many key metropolitan areas, MDVIP says the company is simply doing a better job serving physicians and patients.