At a time when decreasing reimbursement fees are forcing many physicians to choose between delivering thoughtful care and earning a living, and as physicians experience professional burnout at alarming rates, concierge medicine offers a simple solution that puts you back in control.
Ready to have time to practice medicine to the best of your abilities? Are you looking for a solution that works better for your patients and better for you? The benefits of concierge medicine—such as greater work satisfaction, better work-life balance, and a renewed sense of personal accomplishment—are designed to directly counteract troubling symptoms such as depression, exhaustion, dissatisfaction, and the sense of failure that have become all too commonplace for physicians in private practice.
Unlike most concierge medicine companies, we offer you flexibility, rather than limit you to a single type of conversion model. However, SignatureMD is one of the only concierge medicine companies that offers the choice of a third, more flexible, attractive, and financially rewarding model. This model enables physicians to typically double or even triple their take-home earnings because the physician not only retains current income from existing patients who choose not to convert, but also gains income from patients who upgrade to the concierge program, and from new concierge members attracted by a higher level of service. If desired, the physician can evolve the practice to a full conversion model over time.
A full conversion model requires abandonment of patients who choose not to become members. While this model offers a better work-life balance, it means that the physician must attract enough new members just to break even, and poses higher risk to the physician.
A hybrid conversion model, in which a physician delivers two levels of service to program members vs. non-members, suffers from low conversion yields and increases, rather than decreases, a physician’s workload.
This low-risk, high-reward model enables physicians to maintain their entire patient panel, while adding a new revenue stream from concierge members. Physicians can focus their time on the care of a few hundred program members while overseeing a physician extender’s care of non-member patients. This typically reduces a physician’s workload by 25% and enables physicians to typically double or even triple their take-home earnings.
It’s important to choose a physician concierge service that can provide everything you need to start and maintain a successful concierge practice. SignatureMD has served concierge practices in the healthcare industry for more than a decade. We can provide all the tools, services, and expertise to ensure a successful program integration. Whether you choose to work with us or not, consider the following criteria when making your decision:
Does the company provide experienced staff and high-quality patient education materials to ease the conversion process? Do they provide the necessary marketing tools to succeed after your conversion is complete?
A conversion company should offer value-added programs that enhance the patient experience, as well as the financial well-being of your practice, beyond the basic concierge program.
Your goal should be to develop a long-term, trusting relationship with your physician concierge service. Make sure the chemistry is right. Do you like the company’s representatives and feel confident in your interactions with them?
Look at how long a conversion company has been in business and how many successful conversions they’ve completed.
Is the company committed to the long-term growth of your practice? Ask for statistics demonstrating practice growth over time.
Don’t settle for an agreement that handcuffs you with non-compete clauses after the contract term ends.
We’d welcome the opportunity to partner with you as you transition to a more stable, independent, and professionally satisfying practice model.
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