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Q and A: How Long Do Patients Stay Under The Care of Their Concierge Medicine Physician?

Last Updated: January 2021 | (C) Concierge Medicine Today, LLC. (CMT) | Polling Data captured by CMT on non-concierge/interested in joining/searching/seeking out a Concierge Medicine Physician/Program and/or Practice as their new Physician/Healthcare Provider.

Insights and Analytics From Within The Concierge Medicine Practice

How many Concierge Doctors personally contact their patients with test results, recommendations, next steps and/or let their staff return these calls?
Source: Concierge Medicine Today, January 2021

  • 39% said “Next day. Physician-led contact.”;
  • 25% said “Same day. Physician-led contact.”;
  • 9% said “Same day. Staff-led contact.” and
  • 17% said “Usually within 2-10 days. Then we ask them to make an appointment.”

What month do most new patients join your Concierge Practice?
Source: Concierge Medicine Today, January 2021

  • 38% – January;
  • 25% – December;
  • 19% September-November

How Long Do Patients Stay Under The Care of Their Concierge Medicine Physician?
Source: Concierge Medicine Today, January 2021

  • 31% said 7-10 Years;
  • 24% said 4-7 Years;
  • 19% said 1-3 Years;
  • 18% said 15-25 Years
  • 3% said 26-40 Years and
  • 5% reported ‘Other’

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CMT, PHYSICIAN POLL, 2019-2020: Does your Concierge Medicine Practice bill/participate w/ Medicare?
Source: Concierge Medicine Today, January 2021

  • 62% said “Yes, And, I participate in Medicare.”;
  • 19.5% said “I am a Concierge Physician, but I also participate in some insurance programs in my area that I feel are important to my Patients.”;
  • 18.5% said “No. I have formally opted out of Medicare.”

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Growth of Concierge Medicine and Market Size

SUMMARY

  • According to The Business Research Company’s Physicians And Other Health Practitioners Global Market Report 2021: COVID-19 Impact and Recovery to 2030,the global Concierge Medicine market size is expected to reach $1.93 trillion in 2025 at a CAGR of 7%. The physicians and other health practitioners market is segmented into specialist doctors; primary care doctors; physical therapists; optometrists; chiropractors and podiatrists. The major players covered in the market are National Health Service, UPMC, Mayo Clinic, and John Hopkins. The global physicians and other health practitioners market is expected to grow from $1.43 trillion in 2020 to $1.50 trillion in 2021 at a compound annual growth rate (CAGR) of 5.3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. Source: January 18, 2021; London, Greater London, U.K.
  • Industry sources from within Concierge Medicine and the Private, Self-Pay, subscription-based and Cash-Only healthcare delivery sectors confirm there are between 6,000 upwards of 20,000 private medicine physicians nationally. Why such a wide gap in numbers? Well, since there is no federal registry or official national database of these physicians utilizing these subscription-based or cash-only healthcare delivery business models across the U.S., it is difficult to accurately estimate a precise number. This according to the independent industry trade publication, Concierge Medicine Today and its multiple industry sources. These figures still only represent a small percentage of the roughly 1,022,003 total licensed physicians in the U.S. (Source: KFF, March 2020] that actively practice medicine today.) Additionally, within that 1,022,003 figure, when we look at the number of only active licensed primary care Physicians in the U.S., according to the Kaiser Family Foundation latest data (March 2020) there are 486,405 of the total Professionally Active Primary Care Physicians whom last reported to their State with active licenses to the Kaiser Family Foundation, March 2020. The concierge medicine market size of 6,000-20,000 is still relatively small but incrementally growing each year, according to industry consulting company sources and physician sources.
  • Industry experts and observers also tell Concierge Medicine Today that they believe growth in the provision and implementation of private, subscription-based healthcare delivery services is between 3% to 6% each year and has been primarily in the areas of internal medicine and family medicine.

FOR FURTHER EXPLANATION/DESCRIPTION of the ABOVE, Please Read Full Analysis Here …

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(C) Concierge Medicine Today Patient Search Data Patterns via CMTs “Doc Finder” Which Helps New/Prospective Consumers/Patients/People/Families/Individuals Locate a Concierge Physician.

 

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