Market Segmentation
The patient membership model or concierge medicine is progressively gaining popularity in the U.S. healthcare system. In this model, the patient pays a monthly or annual retainer fee in exchange for enhanced personalized care from the doctor. This includes services such as round-the-clock access to physicians, office visits, house calls, referrals to specialists, care while traveling, preventive care, regular health assessment, and others. Such easy access to these services is attracting patients and hence they adopt concierge medicine. Furthermore, it promotes better doctor and patient relationships, which is very important for fast recovery. In addition, it focuses more on preventive care, which can reduce the risk of serious chronic diseases. The concierge doctors keep themselves available for patients and coordinate care by making appointments with specialists on their behalf coupled with a whole family can visit the same doctor. Therefore, such advantages associated with concierge medicine to patients are expected to boost the demand in the coming years.
Several benefits associated with concierge medicine are anticipated to boost market growth. Apart from patients, physicians are aware of the advantages which is driving product demand. According to the Concierge Medicine Today, LLC there are around 10,000 to 25,000 physicians or subscription-based programs across the U.S. The strategic presence of players, such as MDVIP, Specialdocs Consultants LLC, Signature MD, and others, which provide regulatory, marketing, and operational support to physicians to transition from traditional to concierge practice is likely to favor market growth. Concierge doctors see on average 6 to 8 patients in a day, which is 80% to 90% less than that in traditional practice. Despite this, physicians under concierge practice earn more money and profit than those in traditional medicine. Thus, these factors are predicated on boosting market progress.
Lack of health insurance coverage is one of the major drawbacks in the market. Concierge care is largely a patient-funded approach. This is most likely affordablefor upper- and middle-class people.In addition, since concierge medicine focuses on preventive care services, such as health & lifestyle coaching, annual health assessments and physical examinations, and weight management, which are measured not medically necessary, they are not reimbursed, and patients need to pay from their pocket.
This section will provide insights into the contents included in this U.S. concierge medicine market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.
Industry overview
Industry trends
Market drivers and restraints
Market size
Growth prospects
Porter’s analysis
PESTEL analysis
Key market opportunities prioritized
Competitive landscape
Company overview
Financial performance
Product benchmarking
Latest strategic developments
Market size, estimates, and forecast from 2018 to 2030
Market estimates and forecast for product segments up to 2030
Regional market size and forecast for product segments up to 2030
Market estimates and forecast for application segments up to 2030
Regional market size and forecast for application segments up to 2030
Company financial performance