Concierge Medicine: Costs, Factors, and Considerations
As you make a decision about whether concierge medicine is worth it for you and your family, you likely are paying attention to the price tag.
You know what concierge medicine is and you know that you want the more personalized care that concierge physicians offer, but you also want good value for your money.
To make an informed choice, let’s take a deeper look at how concierge rates work and how to find the best value for your based on your unique needs.
How much does concierge medicine cost?
Let’s answer the most common question: how much will this cost?
There is actually quite a range in concierge membership rates, from $1,200 to as high as $10,000 per year.
- The average cost of concierge medicine is usually somewhere between $1,500-$3,000 per year.
Some practices allow you to pay monthly or quarterly instead of just one big annual lump sum. So you may have a monthly or quarterly automatic credit card payment or automatic withdrawal ranging from $100 to $250 per month.
PartnerMD tends to fall on the lower end of this spectrum ranging from $191.67-$208.33 per month for the first adult, depending on the market. We have a transparent cost calculator on our website where you can find out how much your membership might cost.
Along with the membership fee, patients are also responsible for the same clinical care provided in traditional healthcare practice. However, clinical care is often covered by insurance the same way it would be at a traditional practice.
What goes into the cost of a concierge medicine membership?
Your concierge medicine membership cost is based on several factors. These include:
- Access to care: Concierge medicine practices see far fewer patients so they have time to offer more personalized care and guarantee longer visits with no waiting. The cost of the membership helps them afford this unhurried pace.
Most concierge practices also offer after-hours access to a physician, 24/7/365, although some may only offer access to a nurse line, nurse practitioner, or physician assistant.
- Advanced physicals: Concierge medicine physicals often go well beyond a traditional physical, allowing you to talk with your physician about health goals for the coming year.
Some practices include these in the cost of membership, some do not. PartnerMD offers three levels to choose from, and you can discuss with your physician what’s right for you.
- Services and perks: Memberships can include a host of additional services and perks that are factored into your cost. These vary by practice but could include things like coordination of your specialists, wellness programs and health coaching, emergency help, unlimited visits, events and seminars, and more.
- Office location: Leases and overhead are two reasons why concierge franchises vary in rate from one location to the next. There’s also a supply-and-demand factor with physicians at your site. If their specializations are unique to your area, then it’s likely your membership costs more.
How can you manage the cost of your concierge medicine membership?
Whatever your membership rate ends up being, there are several ways to manage the cost of membership. These include:
- Add family members to your membership: When your whole family works with the same practice, you are more likely to receive a family discount.
Therefore, if you bring spouses, parents, and kids to the plan, you will often get a lower per-person rate. If you have kids, their age may determine who they see and how much it costs.
For example, at PartnerMD, each additional adult family member added to your account receives a $200 per year discount, young adults (22-25) are $91.67 per month, and children (6-21) are $62.50 per month.
- HSA/FSA options: Health savings accounts (HSA) and flexible spending accounts (FSA) might cooperate with concierge care. Check with your plan provider, but medical services generally apply the same way that a copay or prescription at a traditional practice would.
- Employer benefits: Your company might be willing to cover or offset membership and physical costs. There’s a rise in workplaces offering more services, like executive physicals, to all employees for a low fee or none at all. Some workplaces are also allowing employees to create their own benefits package, using third-party services such as Fringe.
What other items about the cost of concierge medicine should you know?
Beyond the cost, there are a few more things to consider as you find the right care for your health goals. Do your research now so you can find the right fit for your care.
Most concierge memberships can be paid annually or quarterly. But see if an office allows monthly payments instead of larger lump sums. Check for extra costs tacked on for monthly installments.
As with any contract, it’s smart to read the fine print. Learn when you have to schedule payments and how to stop paying if you want to move on.
Some practices let you out of your contract immediately, while others lock you in through the end of the year or charge a termination fee and no refunds. PartnerMD never locks you into a long-term contract and only requires 30 days' written notice.
Plan on a great experience with concierge care but prepare for a change if you need it.
Most concierge practices do accept traditional health insurance, and health insurance at a concierge medicine practice functions the same as it does at a traditional primary care practice. You're responsible for co-pays and deductibles, but the practice bills your insurance to cover the cost of medical expenses. But double-check that a concierge office works with your specific carrier.
See if they take government plans, like Medicare, Medicaid, or Tricare, that you might use now or in the future. PartnerMD accepts Medicare, but not Medicaid or Tricare.
Model of Care
This may sound simple but double-check that the care you’re considering is a concierge practice.
Direct pay care, for example, follows a membership model but doesn’t work with insurance and government plans for ongoing care.
Other models look like a hybrid between concierge and traditional care. Doctors might see a combination of concierge and non-member patients, or they might work in an office where only a fraction of the staff follows a concierge model.
These offices tend to offer reduced membership rates for a limited concierge experience.
Cost of Concierge Medicine at PartnerMD
As one of your options for concierge care, we’re happy to give an honest explanation of how PartnerMD memberships work.
We take pride in being upfront and honest and also in being available to answer any questions you have.
- First adult member: $2,300-$2,500 per year or $191.67-$208.33 per month
- Each additional adult family member: $200 off per year
- Young adults (22-25): $1,100 per year or $91.67 per month
- Children (6-21): $750 per year or $62.50 per month