TRENDING...inside concierge medical practice

Why do patients leave their concierge physician?

Source: Concierge Medicine Research Collective/Concierge Medicine Today [dot] com

ATLANTA, GA [APRIL 25, 2012] -- As many people are aware, this type of boutique medicine or direct relationship medical practice delivery model concept is still relatively new. The greatest amount of data compiled to date on the loyalty or renewal rates of concierge medicine patients year after year tells us that these practices have an annual renewal rate of about 90.%. Additionally, these types of practices are mainly considered Hybrid business models, which means these doctors and their offices accept insurance and charge an annual retainer fee to their patients for enhanced access. This number is based on data from approximately 100,000 patients nationally.

Retention figures inside concierge medical care practices have proven consistent since the year 2000 but Concierge Medicine Today sources have informed us that these retention numbers are slowly declining due to one major factor -- some doctors are over-promising and under-delivering. This inturn, leaves the patient unsatisfied. On the positive side, these patients leaving their concierge care physician are overwhelmingly still choosing concierge-style medical care -- albeit just from a another physician in their geographic area.

Long term data on these particular kinds of patients is currently still being compiled but our data supporting the cost effectiveness and affordability of these healthcare models is intriguing. According to various physician journals, a patient will remain a patient of a traditional primary care doctor in a typical family practice or general medicine practice, barring an altering event (like a geographic move, death, loss of job, or other unforeseen circumstance) for 5-7 years.

Based upon the data listed above, it appears that retainer medicine or boutique physicians that have a long, relational-history with their patients are reporting higher retention levels that exceed traditional primary care and family practice expectations. This data combined with the fact that this model of medicine provides for closer communication and relationship with people -- we expect that the majority of patients will continue to remain with a retainer-based practitioner even longer than seven (7) years.

The information provided here gives more evidence that these types of medical practices are not just for the deep-pocketed executive. In fact, we have recently learned that over 50% of these types of healthcare consumers make a combined household income of less than $100,000 per year.

All of this data should be very encouraging to the public, as well as the practicing physician anywhere in America. This concept, initially thought of by many as healthcare for the rich -- is now accessible and very affordable for couples, seniors on Medicare, young families and individuals.

To learn more about the benefits and services concierge physicians provide to their patients, go to Concierge Medicine Today's patient education and resource center at www.ConciergeMedicine101.com.

+ 11.9%...30-39 yrs of age

+ 31.6%...40-49 yrs of age

+ 48.4%...50-59 yrs of age

+ 7.4%...60-69 yrs of age

+ 1.0%...70+ yrs of age

Source: The Concierge Medicine Research Collective/Concierge Medicine Today

Source: Directmailtools.com

There are the obvious direct mail mistakes like no offer or call to action, the wrong phone number or web address, or misspelled words. Most marketers don’t need to read an article to figure those out. This article focuses on lesser-known mistakes that can make the difference between success and failure. Here are 10:

Cheap Offers. There is a tendency for marketers and business owners to worry about “giving away the house.” Offers like “10% off your next purchase” or “Free Shipping with you next order of $100 or more” are ok if you’re targeting current customers that need a small nudge to make an incremental purchase. But if you’re going after new customers, “Free” is always the most powerful word in direct mail. A new customer may cost you $200 or more (do the math!), so giving away something free at a cost to you of $50 or so, may be a no-brainer.

Short Copy. There is yet another tendency for marketers to think “we need to keep it short and sweet.” They use clean graphics with few words. The thought is that interested prospects will call or go to the website. In direct mail, long copy (more words) usually outperforms short copy. Write as much as you need to fully explain your product and it’s functions/benefits. Don’t assume too much knowledge on the part of your prospect. Finally, get someone’s opinion that’s not an industry “insider.”

Small Card. Small cards (regular postcards) are useful. They’re cheap and mail First Class for the same cost as Standard Class. If your product is simple, like a local coffee shop, or if your mailing to current customers that already know your brand and product, small cards are great. If your product is more complicated or relies heavily on branding (like photos of past work, or product photos), use a larger card. Larger cards get noticed more and can be chock-full of information.

No Frequency. It’s rare that your mailing coincides with a prospect’s need to buy. Especially if you’re doing business-to-business sales. In most cases, you’re mailing simply places a “seed” of awareness so that when your prospect does need your product or service, they think of you. Those “seeds” need to be planted continuously or the awareness dies. There’s also research that shows that the more a person is exposed to your brand, the more that person has a “favorable” impression of your brand.

Bad Timing. It’s very obvious that you don’t market snowmobiles in July. But on the other hand, we see home improvement businesses like landscapers marketing their product late in the summer and avoiding the prime marketing season in the spring. The rational is that, “I’m busy in the spring and I need business for late in the summer.” The better strategy is to market when prospects are buying. If you don’t have the capacity to do the work, offer an incentive to put the work off until you do have the capacity.

Small Mailing Quantities. Direct Mail, like just about all advertising medias, relies on small percentages of respondents. You mail out 100 cards and hope to have one call. On the other hand, if your testing a direct mail piece and expect the one call on mailing 100 cards to be your proof of success, you are sadly mistaken. The reality is that you may not get that call. Then, do you know if the mailing is a failure? Not really. You haven’t mailed enough cards to statistically be confident that the results are correct. To be statistically confident, you will need to mail anywhere from 3,000 (acceptable confidence) to 10,000 (higher confidence).

The Wrong Offer. Some offers are easy: “Bring this coupon in and get a free cup of coffee.” But others get to be more complicated. It’s difficult to sell certain software’s, products or services by simply saying, “this is what it does,” and “you get $100 off.” The more costly the service or product, the more a prospect wants lots of information. They need samples, or trials, or white papers, or webinars, or booklets. Instead of asking for the sale, offer free information to simply get the lead.

Standard Class Postage with Time-Sensitive Mailings. Standard Class can save you a substantial amount on your mailings. But if the “sale” announcement comes 2 days after your sale ends, the savings are moot. Standard Class takes on average 7 to 10 days for delivery, but you can’t even count on that. You cards will get delivered, but just never count on timing.

Standard Class Postage with Business Addresses. We’ve just had bad experiences with using Standard Class to mail cards to businesses. The feedback we get is, “many of my customers didn’t received the mailing.” If the address and contact information isn’t exact, they might not get delivered. Also, Standard Class mailings sometimes tend to get tossed out by mailroom clerks or other “gatekeepers.” The great thing about First Class is that if the mailing doesn’t get delivered, it gets returned to you.

No Contact Information. Ok, this is obvious. No phone number, no address, no directions, no web address, no e-mail address, etc. It happens all the time.

58% | 1-2 employees

34% | 3-5 employees

5% | 5+ employees

3% | No employees

(2008-Present)

Methods Used By Current Concierge Physicians Across The U.S.

Survey Conducted By Concierge Medicine Today and The Concierge Medicine Research Collective (C) 2011

74% | Yes. We include home visits to our patients as needed.

26% | No. We do not include home visits as part of the patient-physician agreement.

(2008-Present)

Methods Used By Current Concierge Physicians Across The U.S.

Survey Conducted By Concierge Medicine Today and The Concierge Medicine Research Collective (C) 2011

0-10 minutes with each patient 0%

11-30 minutes with each patient 22.86%

30-45 minutes with each patient 34.29%

45-60 minutes with each patient 31.43%

1-2 hours with each patient 11.43%

2-3 hours with each patient 0%

3+ hours with each patient 0%

(2008-Present)

Methods Used By Current Concierge Physicians Across The U.S.

Survey Conducted By Concierge Medicine Today and The Concierge Medicine Research Collective (C) 2011

1-10 Minutes 2.33%

11-25 Minutes 9.3%

26-35 Minutes 13.95%

36-45 Minutes 13.95%

46-60 Minutes 27.91%

61-90 Minutes 11.63%

90 Minutes - 3 Hours 16.28%

4-5 Hours 4.65%

(2008-Present)

Methods Used By Current Concierge Physicians Across The U.S.

Survey Conducted By Concierge Medicine Today and The Concierge Medicine Research Collective (C) 2011

Data Source: Concierge Medicine Today © December 12, 2011 and The Concierge Medicine Research Collective

Top 10 Fastest Growing Cities For Concierge Medicine

1) Los Angeles, CA

2) San Fransisco, CA

3) New York, NY

4) Palm Beach, FL

5) Baltimore, MD

6) Washington, DC

7) Philadelphia, PA

8) Seattle, WA

9) Chicago, IL

10) San Diego, CA

Typical Services Offered From Concierge Medical Practices Across America (1952 to Present)

Source: http://www.insure.com/articles/healthinsurance/concierge-medicine.html

IMPORTANT NOTE: Each patient should check with their physician to find out what services are included in their individual membership. These are only examples of some of the services. Your physician practice and membership may or may not include some or all of these types of services.

Services typically include: physical exams, blood work, unlimited office visits and other services (see list below). Fees typically cover basic services that include preventive care, routine physicals, longer appointments, next-day appointments, 24-hour-a-day phone access and e-mail, house calls, coordination of care when you travel, and a CD with your medical records. If you have health insurance, your concierge doctor may submit claims for treatments that are not covered under your membership. Some of the most common services include:

On call 24/7

House calls

No waiting

Unlimited appointments for your membership fee

"Executive physical exams" that include a full body scan, screening for 200 diseases, blood tests for rare conditions and time spent with a physician going over every aspect of your medical history. These comprehensive exams can cost well into the thousands through traditional channels.

Lab tests

X-rays

Coordination of care if you become ill while traveling

Mental health services

Well-baby checks

Acute care visits

Online access to medical records

Home delivery of medications

Hospital visits from the doctor

Transportation to appointments

Coordinated care with specialists during travel

Hotel reservations for family during a medical crisis

Wellness, fitness and lifestyle screenings

Weight management

Nutritional counseling