Being able to charge patients $600 to $5,000 per year for more personalized medical care and limiting the number of total patients for which you are responsible, sounds like a very good deal for any doctor. But taking the proper steps required to make the transition from a traditional medical practice to a concierge medical (CM) practice may be daunting.

The first concern that you need to resolve is why you are considering switching to a concierge practice in the first place.  If you are contemplating the switch to a CM practice so that you can make more money with less effort or so that you can avoid insurance hassles then your practice most likely will struggle to prosper.  As with any endeavor, your motivation should be to pursue your passion; in this case it may be to spend more time with patients or to return to better doctor-patient relationships.  It will take time and effort to transition to a CM practice, so you may be disappointed if money is your primary motivation.

Concierge Medicine (CM) is a concept where patients pay an annual fee, similar to a retainer fee that attorneys receive, that allows the payee constant access to their personal physician.  The fee can range from $1000 to $15000 per year, but averages $1500-1800 per patient.  For this fee the patient receives 24/7 access to their personal physician, priority scheduling, and maybe discounts on routine and preventative screenings.  It sounds like a good deal for the patient, but what are the advantages and disadvantages for the doctor?

How would you like to have every patient in your practice pay you $1,500 to $2,000 per year, in addition to your normal fees, just for the privilege of getting a same day appointment when they call?  Sound too good to be true?  Welcome to the world of Concierge Medicine (CM). This type of healthcare delivery is also referred to as membership medicine, concierge health care, cash only practice, direct care, direct primary care, and direct practice medicine.

What exactly is Concierge Medicine?  According to the American Academy of Private Physicians (AAPP), the national association of physicians who provide “concierge medicine,” defined as a ‘fee-for-service, and other forms of health care delivery characterized by a direct, financial relationship between private physicians and their patients.’ This movement will forever change American health care by restoring the doctor-patient relationship of times past --private doctors unencumbered by insurance company policies, provider-network constraints, and the misaligned incentives that have infected our health care system.

I came across a website, Careercast.com, which lists the stress involved with 300 different jobs across the US.  Among the tope ten least stressful jobs in the US are:

 Audiologist, Dietician, Speech Pathologist, Occupational Therapist and Chiropractor.

So according to the authors of this survey, 5 of the top 10 least stressful jobs in the US are in the healthcare field.  According to the authors of the study there is even more good news because of the aging population and increased investment in healthcare due to the Patient Protection and Affordable Care Act (PPACA).  That should make for a promising future for those persons involved in the healthcare field.