National Headlines

ADVISORY BOARD | Why not-for-profit hospitals, from Mayo Clinic to Duke Health, are hopping on the concierge bandwagon

By The Advisory Board Company
While “concierge medicine” is typically associated with private practices that work with the ultra-wealthy, a few not-for-profit hospitals are offering the service, Shelby Livingston reports for Modern Healthcare.

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By adopting concierge medicine, these hospitals have a better shot at retaining patients who would otherwise leave for a private practice, Livingston reports. Further, some providers say offering the services allows hospitals to redirect the revenue to services for lower-income patients.

Concierge medicine

Concierge medicine first emerged in the 1990s as a way for doctors, who were under pressure to see high volumes of patients, to provide “highly personalized care” for fewer, high-income patients.

In exchange for an annual fee, patients get largely unlimited access to their physician along with care coordination specialists. Health insurers don’t cover the annual fee, though doctors typically bill insurers for individual visits.

Some hospitals adopt concierge medicine

Livingston reports that a few hospitals are starting to offer their own concierge medicine services. While there isn’t data on the number of hospitals that run concierge practices, such hospitals generally tend to be big-name systems in urban markets, with the space and high-income clientele needed to support the model, Livingston reports. For instance, Boston’s Massachusetts General Hospital, Duke Health, the Mayo Clinic, and Stanford Health Care all provide such services.

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SOURCE: https://www.advisory.com/daily-briefing/2017/10/26/hospitals-concierge

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