Medical concierge is a profitable and successful business to go about these days for physicians. Taking a change from the custom medicine retainer-styled services into this new set-up is worth it, especially in the long run. Its not only benefits a physician, it also benefits the patients as they get 24/7 access to the doctor instead of in-office waiting periods. Other services provided to them include house calls, a yearly health exam, and many other important health services which medical insurance doesn’t cover.
The steps to starting a medical concierge business are:
Fully understand why you want this type of a setup, and it shouldn’t focus on the money only. This is because in the start, you won’t be earning much but instead will lose a bit. But after 2-3 years, this business begins paying off with a peak.
You have to determine if this business setup will be done by you only, or you will have help with you, i.e. other doctors on board. By flying solo, you will need a larger amount of investment, an electronic medical record, and look after marketing issues for the start. If you decide otherwise, there are medical service providers that offer to help in the start up and share the costs. The profits of doing it alone will be higher, but the start expenses can be aided with by hiring a team.
Survey your patients
Understand the needs of your patients. They pay for the services you provided so match your services to what they expect and want. You can offer house calls, specialist visits, internet access availability etc. to keep them on your list for good.
Develop the menu and your fee
Create the package you are offering to your patients and then set a fee on monthly-basis. Your package may offer weight management, exercise counseling, yearly checkups and other perks. Calculate the amount you will need to deliver this level of service to a patient then.
Set a timetable
Unlike a traditional business, concierge medical business requires more time dedication as it is a labor intensive practice. Timetables help in following your work in an organized and managed manner.
You will have to address legal issues in this as well, so work with a good healthcare attorney to understand the structure of retainer-style practices.
Form a market
In order to get more patients on board, you will need to reach out to them through a new corporate image and then offer your enhanced level of services to them. You will need a new letterhead logo, email id, and your business’s name.
Hire a strong medical team
A team that you will be heading and supervising needs to be set then. Choose good new physicians, and a consultant for your business. Your office will also need newer equipment in the market.