U.S. Concierge Medicine Market Size, Share & Trends Analysis Report By Specialty (Primary Care, Pediatrics, Osteopathy, Internal Medicine, Cardiology, Psychiatry), By Ownership (Standalone, Group), And Segment Forecasts, 2024 - 2030

Research Methodology

A three-pronged approach was followed for deducing the U.S. concierge medicine market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for U.S. concierge medicine market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of U.S. concierge medicine market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

U.S. Concierge Medicine Market Categorization:

The U.S. concierge medicine market was categorized into two segments, namely specialty (Primary Care, Pediatrics, Osteopathy, Internal Medicine, Cardiology, Psychiatry, Others), ownership (Standalone, Group).

Segment Market Methodology:

The U.S. concierge medicine market was segmented into specialty, ownership. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The U.S. concierge medicine market was analyzed at a regional level.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

U.S. concierge medicine market companies & financials:

The U.S. concierge medicine market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• MDVIP - MDVIP is among the leading concierge medicine networks across the U.S. The company provides various concierge healthcare & wellness programs. The company recruit’s physicians and helps them convert the concierge medicine business model to provide personalized care to patients. The company currently has more than 1,000 affiliated primary care physicians under its network, catering to about 350,000 patients across the U.S. MDVIP has achieved a 97% patient satisfaction level.

• Signature MD - Signature MD is a renowned concierge medicine service provider through affiliated physicians. The company offers a choice of hybrid, full, or segmented conversion to a concierge model. In addition, the company also offers ongoing support services, such as patient communications, billing, marketing, and public relations, to affiliated physicians. The company has collaborations with over 200 primary care doctors and specialists across 35 states.

• PartnerMD - PartnerMD provides executive health & concierge medicine. It is a subsidiary of Merkel Ventures and has offices in seven locations across the U.S. The company provides preventive care, personalized primary care, and integrated wellness & health coaching. It costs USD 150 to USD 185 per month, depending on the number of family members. The charges can be paid monthly, quarterly, or annually. The members get 30-minute visits, same or next-day appointments, and round-the-clock access to physicians.

• Concierge Consultants & Cardiology - Concierge Consultants & Cardiology is a unique clinic that provides concierge internal medicine & general cardiology services with impeccable customer service. The company is committed to delivering exceptional clinical care. It is a standalone clinic owned by Dr. Tiffany Sizemore, who is dedicated to providing personalized & preventive care. The clinic provides care in the areas of internal medicine, cardiology, women’s heart health, and weight loss. The clinic works in a hybrid model, where it provides care to patients with or without memberships.

• Castle Connolly Private Health Partners (CCPHP) - Castle Connolly Private Health Partners (CCPHP) is among the leading concierge practice conversion & support companies. The company collaborates with physicians to provide an enhanced healthcare experience. The CCPHP program provides step-by-step, expert assistance to physicians for transitioning into the concierge model. It includes detailed business planning, price development, customized programs, staff training, a telemedicine platform, and other services. The company offers access to the Affinity Program to its member patients to support their health & wellness goals.

• Crossover Health - Crossover Health is a Gurnet Point Capital portfolio company that provides comprehensive and coordinated healthcare to self-insured employees & concierge medicine services. The company provides personalized care in broad specialties, such as primary care, mental health, optometry, physical medicine, acupuncture, and health coaching, through a combination of near-site, onsite, & virtual services.

• Specialdocs Consultants, LLC - Specialdocs Consultants, LLC is dedicated to supporting physician's transition from traditional medicine to a personalized concierge medicine model. The company allows doctors to retain their brand and control revenue. It also provides regulatory guidance, operational services to physicians, including membership billing, patient communication services, Immediate Membership Enrollment Data (iMED) portal access, and marketing & communication services, such as website updates, marketing materials, online presence, and personalized quarterly newsletter.

• PENINSULA DOCTOR - PENINSULA DOCTOR is a provider of concierge care and is dedicated to developing a personalized care plan that aligns with the healthcare needs & goals of the patient. The company provides primary care concierge medicine and limits the number of patients to 150 per physician. This helps in developing a deep, meaningful connection with the patient. The primary care physicians work closely with specialists to develop a comprehensive treatment plan for the patient. In addition, the company also provides nutrition & wellness services to the patients.

• Campbell Family Medicine- Campbell Family Medicine is a private concierge membership practice led by Dr. Ellie Campbell. It provides integrative, holistic, and functional medicine for the entire family through a standard membership program of USD 268 per month. The company also offers bronze & gold membership programs. Cambell Family Medicine specializes in areas of primary care, sexual health, chronic fatigue, IV hydration & nutrition, bioidentical hormone replacement therapy, breast thermography, oral systemic connection, and others.

• Destination Health - Destination Health is a concierge practice providing individualized treatment. Thoroughness, convenience, and accessibility is the top priority of the company. The physicians personally review their patient’s medical history, understand their current state of health, conduct a thorough physical examination, and make an in-depth analysis of diagnostic tests and labs, including genetic markers. In this way, the patients are connected to a doctor who knows their lifestyle, health status, & goals and stays completely focused on individual needs.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

U.S. Concierge Medicine Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2023, historic information from 2018 to 2022, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

U.S. Concierge Medicine Market Report Assumptions:

• The report provides market value for the base year 2023 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.