June 24, 2022

How Concierge Medicine Can Save You Money

june dr now

Do you want to learn how concierge medicine can help you save money? You are not the only one. Although many believe this model is reserved for the elite and wealthy, it is much more affordable. Believe it or not, you can save money by switching from a regular healthcare plan to a concierge one. 

An Overview of Concierge Medicine

Before discussing how concierge medicine can help you save money, let’s look at the concierge healthcare model. Concierge practices charge a flat membership or access fee, which can be divided into monthly or annual payments. This membership allows physicians to spend more time with patients, keeping their practices smaller and offering perks like 24/7 access. Many people mistakenly believe that a concierge healthcare membership is more expensive because of the upfront costs.

Ways to Save Money with Concierge Medicine

24/7 Access Reduces In-Person Visits

One of the best features of concierge healthcare is doctors are more accessible to patients and can often eliminate repeat visits. For example, imagine you have a cold or a chronic condition and visit the doctor for treatment. If the first round of treatment isn’t successful or the condition worsens, you’ll have to schedule another visit (and pay another co-pay). With the concierge model, your doctor will answer your calls and may be able to start you on a new treatment without an in-office visit. This is only one way that concierge medicine can help you save money.

Stay Healthier

The concierge medicine model allows physicians to spend more time with each patient. A University of Wisconsin report states that the average time spent with each patient is 35 minutes for a concierge doctor and 15 minutes for a traditional doctor. Concierge doctors can spend more time with you to learn about you, your lifestyle, and your health difficulties, leading to improved overall health and better management of chronic conditions.

When healthier, you’ll get sick less frequently and spend less on healthcare costs, medication, and visit co-pays. This also means you’ll spend less time away from work, which means more money in your pockets. 

Fewer Hospitalizations 

Statistics don’t lie. Concierge medicine patients are hospitalized less often than “traditional” healthcare patients. A study by the Journal of the American Board of Family Medicine (JABFM) found that concierge medicine patients had: 

  • 82% fewer surgeries
  • 65% fewer emergency department visits
  • 63% fewer non-avoidable admissions
  • 49% fewer avoidable admissions
  • 56% reduction in non-elective admissions 
  • 97% fewer readmissions after acute myocardial injury
  • 95% reduction in congestive heart failure readmissions 
  • 91% fewer pneumonia readmissions

If you can’t get in to see your doctor, you’ll likely need to go to urgent care or the ER. The average ER visit costs around $1000; avoiding the ER can save you money, but sometimes that’s not an option. Unlike the traditional healthcare model, you receive personalized care and more time spent with your doctor with concierge healthcare.  

Concierge medicine patients are less likely to be hospitalized because they do not experience the dangerous consequences of doctor burnout, including medical errors and misdiagnosed conditions. According to the Mayo Clinic, more than half of physicians nationwide experience at least one symptom of doctor burnout. In addition, concierge doctors have a lower rate of doctor burnout because they can limit their patient load, resulting in less stress and longer patient visits.  

Change Insurance Plans

Insurance is a personal decision; thus, our practice does not offer advice on insurance plans. However, after utilizing concierge medicine, many people find that they are healthier and have less need for care, allowing them to reduce their insurance coverage. For example, you can cut your premiums by switching to a high-deductible policy, saving hundreds or even thousands of dollars annually. However, some risk is involved as the savings depend on your ability to maintain your health and avoid emergency care. But if you’re healthy, it’s an excellent option. 

Personalized Concierge Medicine is the Future of Healthcare! 

Concierge medicine is not just a fad; it is part of the future of medicine. Improving the doctor-patient relationship is the healthcare industry’s way of creating a healthier world.

Wouldn’t it be ideal to have access to premium healthcare services but only pay for the services you need and use? With Dr. Now, you can save up to 50% on your annual healthcare costs by only paying for services when needed. 

To learn more about our detailed benefits and cost savings or schedule a consultation, call Dr. Now at 833-733-4134 or visit our website today!


Sources

https://finance.yahoo.com/news/another-concierge-medicine-perk-patients-095400385.html
https://www.thestreet.com/personal-finance/insurance/another-concierge-medicine-perk-patients-saving-money-12792868
https://www.partnermd.com/blog/how-a-concierge-medicine-membership-can-save-you-money