Concierge medications, also known as retention medications, are a relationship between a doctor and a patient in which the patient pays an annual or monthly fee in exchange for certain services or access to their doctor. This type of care isn't an insurance alternative; however, it can be used in conjunction with a high-deductible health plan to save money. Contact your benefits representative or health insurance company to see what you can afford with your health savings account (HSA) or your flexible spending account (FSA).Concierge doctors offer their services to patients directly in exchange for an initial fee, which is normally paid monthly. They are also called direct primary care providers (DPC) or personalized medical service providers.
In the past, these services were only available to wealthy patients who could afford the fees, but in recent years, concierge medications have become more accessible. One of the biggest advantages of the direct model is that doctors no longer need to bill or collect insurance payers. The amount of time and overhead expenses spent invoicing and charging insurance companies is immense. Physicians spend, on average, 15% of their total income on billing and collection.
Concierge and direct care offices spend very little time or money in the process of charging patients, since most offices charge patients with their credit cards every month. Eliminating the insurance payer, along with a lower cost of collection, allows janitor doctors to earn higher incomes and provide patients with better access to care for less money. The switch to concierge medicine is one way to overcome some of that bureaucracy, since it allows janitor doctors to spend more time on personalized patient care and less time worrying about when or how they will be paid for their efforts. If you're thinking of adding a janitor to your team of health care providers, look for companies that promote the concierge service as low-cost health insurance. Like Knope, many offices are attracted to concierge services because they believe that the healthcare industry has become too bureaucratic.
Switching to concierge medicine will inevitably result in the loss of patients, as not all patients want to separate themselves from traditional medical care. Concierge medicine is an attractive option for many doctors who want to provide better care for their patients without having to worry about billing and collection issues. It's important to remember that concierge medicine is not a substitute for health insurance; however, it can be used in conjunction with a high-deductible health plan to save money. If you're considering transitioning to a new model, it's important to weigh the pros and cons before making a decision. Ultimately, the Direct Care and Concierge models are the future of healthcare.