Professor Mark J. Perry's Blog for Economics and Finance
Tuesday, July 10, 2012
Markets in Everything: Concierge Medicine
Watch the PBS News Hour segment above on "concierge medicine," featuring Texas doctor Raymond Solis who recently converted his 21-year-old traditional medical practice of 3,000 patients to a concierge-based practice serving just 400 patients. Dr. Solis changed his business model with the assistance of national medical consulting firm MDVIP, which helps doctors switch from traditional, "conveyor belt" medicine to concierge practices, and go from patient loads of 2,500 to 3,000 down to 400 to 600.
For about $1,500 a year, patients can join a MDVIP concierge practice and be assured of personal attention and more face time with the doctor. Monthly fees run about $150 per month, which allows most patients to get same-day appointments that last 30 minutes or
longer. Most MDVIP doctors accept insurance.