Hospitals Cash In on a Private Equity-Backed Trend: Concierge Physician Care

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Hospitals Cash In on a Private Equity-Backed Trend: Concierge Physician Care
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It’s a trend that began decades ago with physician practices. Thousands of doctors have shifted to the concierge model, in which they can increase their income while decreasing their patient load.

Nonprofit hospitals created largely to serve the poor are adding concierge physician practices, charging patients annual membership fees of $2,000 or more for easier access to their doctors.

Concierge physicians typically promise same-day or next-day appointments. Many provide patients their mobile phone number. One of the largest, Boca Raton-based MDVIP, has more than 1,100 physicians and more than 390,000 patients. It was started in 2000, and since 2014 private equity firms have owned a majority stake in the company.

George Salem, 70, of McLean, Va., has been a patient in Inova’s concierge practice for several years along with his wife. Earlier this year he slammed his finger in a hotel door, he said. As soon as he got home, he called his physician, who saw him immediately and stitched up the wound. He said he sees his doctor about 10 to 12 times a year.

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