1st Edition

Handbook of Concierge Medical Practice Design

By Maria K. Todd Copyright 2015
    212 Pages 4 B/W Illustrations
    by Productivity Press

    212 Pages
    by Productivity Press

    In concierge medicine, physicians develop amenities-rich membership programs and collect a monthly or annual membership fee to pay for the amenities in addition to the medical services rendered. Handbook of Concierge Medical Practice Design examines the many considerations physicians must make prior to transitioning their practices into concierge services.

    Maria K. Todd, a recognized expert in concierge medicine, branding, consulting, healthcare, marketing, medical tourism, planning, and physician practice administration, explains how to set up a concierge practice. She describes how this new business model affects workflow and outlines financial considerations—including managed care payer relations, the hybrid practice, and predictive modeling—to uncover the hidden factors that affect bottom-line performance.

    The book supplies readers with models for creating a business plan and a strategy for transforming a practice into a concierge practice. It concludes by covering the legal aspects of creating a concierge practice. It includes patient acquisition and retention strategies as well as detailed plans for adding additional doctors and physician extenders, such as nurse practitioners and physician assistants.

    The book provides sample employment contracts and advice on how to select and work with consultants. It includes chapters on business process re-engineering, workflow management, financial considerations, competitive analysis, developing a business plan, and how to market the new practice.

    Private Practice in Transition
         The Exciting New World of Medical Practice
         The Disruption of the Traditional Private Medical Practice in America
    Concierge Medicine
    Direct Practice
    Corporate Concierge Medicine
    The Patient-Centered Medical Home
    Accreditation and Practice Management for the Private Medical Practice of Tomorrow
         NCQA Scoring Criteria for Patient-Centered Medical Homes
              Standard 1: Access and Communication—9 Possible Points
              Standard 2: Patient Tracking and Registry Functions—21 Possible Points
              Standard 3: Care Management—20 Possible Points
              Standard 4: Patient Self-Management Support—6 Possible Points
              Standard 5: Electronic Prescribing—8 Possible Points
              Standard 6: Test Tracking—13 Possible Points
              Standard 7: Referral Tracking—4 Possible Points
              Standard 8: Performance Reporting and Improvement—15 Possible Points
              Standard 9: Advanced Electronic Communications—4 Possible Points
         Welcome to the Disruptors’ World
         Physician Entrepreneurship
    Building the Practice of Your Dreams
    What Skills Will You Need?
    Marshalling the Courage and Skills to Transform Your Medical Practice
    Reinventing Private Practice
    Get Mobilized
    Attributes of a Successful Concierge Physician

    Frequently Asked Questions
    Evaluating the Advisers and Trends
    Learn How to Evaluate and Hire Professional Advice

    Turning Crisis into Opportunity

    Determining If You Are Ready to Enter Concierge Medicine
    Financial Readiness
    Strategic Readiness
    Your Current Brand Reputation
    Will You Be Converting an Existing Practice?
    Your Resources and Assets
    Exercise 1: Setting the Vision for Your New Practice
    Exercise 2: Determining Your Comfort with Business Ownership

    What Sets You Apart from Other Concierge Physicians?
    How to Describe Your New Business Model
    Developing a Market Niche within Your Specialty
    Exercise 1: Market Niche Data Collection
    Exercise 2: Choosing Your Market Niche
    Turning Your Chosen Market Niche into Something Marketable
    Building the Expertise in Your Market Niche
         Building Additional Expertise
    Building Influence as a Medical Expert in Your Market Niche Domain Area
         Using Your Power and Influence

    Clarifying Your Business Concept: Welcome to the Next Chapter of Your Professional Life
    Working with Consultants and Contractors to Get You Started
    The Difference between a Concierge Medicine Product and Medical Services
         A Consultant Should Never Assume What You Want
    Exercise 1: Goal Setting
    Exercise 2: Business Priorities
    Exercise 3: Motivating Factors
    Exercise 4: Articulating My Business Values
    Exercise 5: My Role Models—Who Do I Admire?
    Exercise 6: Identifying That Which Excites You about Your Concierge Medicine Practice Idea
    Exercise 7: Your Business Concept
    Exercise 8: Testing Market Preferences for Your Concierge Amenities Package & Price Point
         How to Gather Data without a Melee
         What to Do after the Decision to Move Forward
    Defining Your Strategic Position: What Business Are You In? Really?
    Review of Chapter 6: Startup Considerations

    Creating Your Practice Identity
    Creating Your Identity
    Your Identity Is Your Brand Image, Not Your Brand
    Integrated Marketing Communications
    Be Efficient and Run a Lean Shop
    Finding Unbiased Guidance
    Accountability and Measurement of Marketing ROI
    Web Analytics
         Key Considerations for Choosing a Name
    Exercise 1: Business Naming Exercise
    Protecting Your Trademarks and Service Marks

    Exercise 2: Developing Your Creative Brief

    Getting Organized
    Setting Up Physical and Digital Files
    Set Up Digital Utilities
    Set Up Survey Monkey (for CAHPS Surveys)

    Business Intelligence for the Concierge Medical Practice
    Exercise 1: Analysis of Competitors
    Public Relations
    The Importance of Community
    The Importance of Associations and Societies
    Exercise 2: Community Events and Speaking and Public Relations Opportunities

    Startup Red Tape
    Legal Counsel
    Exercise 1: Medical Practice Startup Red Tape

    Team Building
    Human Resources Loose Ends

    Operations and Practice Management

    Practice Administration versus Practice Management
    Finding a Location for Your Concierge Medical Practice
    Deciding on the Attributes of Your New Concierge Medical Practice Location
    Contemporary Advancements and Evidence-Based Design
         Natural Disasters
         Interior Doors
         Door Swings
         Safety Glazing
         Wall Protection at Drinking Fountains and Lavatories
         Medical Waste
         General Waste
         Soiled Linen
         Medical Records
         Space Rental Considerations

    Designing the Layout of Your New Concierge Practice
    Exercise 1: Practice Layout Consideration
    Exercise 2: Floor Plan Layout
    Exercise 3: Designing Your Operations Processes and Evaluating Your Costs

    Planning the Move to Your New Concierge Medical Practice Location
    Should You Purchase or Lease?
    Exercise 1: Warranties and Service Contracts to Manage
    Business Technology Purchases
    Business Communications Purchases
    Software and Hardware Purchases

    Money Matters
         Setting up Your Bookkeeping System
         Establishing Your Prices

    Financial Forecasts and Budgets
    Exercise 1: Marketing Budget
    Exercise 2: Profit and Loss Projection
    Exercise 3: Cash Flow Projection



    Maria K. Todd

    After only working in traditional primary care for two and a half years post-residency, I already knew this was not the level of care or service I wanted to provide my patients. I'd already spent countless hours researching concierge medicine, but still had so many questions. Maria successfully guided me out of the fog and set me on a clear course to launch a successful concierge practice. I highly recommend her knowledge, expertise, and creativity to anyone interested in practicing concierge medicine.
    —Stania DeJesus, Family Wellness Center of Charleston, South Carolina

    The Handbook of Concierge Medical Practice Design is a well-written, concise, and on-point guide for any practicing physician contemplating starting a concierge medical practice. Maria Todd has proven again why she is a leading expert in the areas of Concierge medicine, branding, consulting, health care, marketing, medical tourism, planning, and physician practice administration. She conveys her sincerest desire to see any physician wishing to pursue concierge medicine by the exercises she provides in the book. A highly recommended book.
    —Richard Krasner, MA, MHA, Blogger-in-Chief, Transforming Workers' Comp Blog

    So glad we have a resource NOW, since Concierge Medicine and is growing at the rapid pace of 30 percent each year. A must-read for any physician thinking about converting or who has already converted their practice where it didn't quite work out like you planned.

    Competing with the chain drugstores for initial diagnosis, a concierge model is always a better answer, see Chapter 4 for more insight. Also look to Chapter 6 for more details on sorting out the financials. In Chapter 9, Maria goes into detail about what qualifications to look for when choosing an EXPERT who knows Concierge Medicine. Don't get caught up with big box conversion companies, as one size does not fit all. Look also to making sure telehealth and technology are part of the offerings, making sure the money a patient pays for the subscription gives them more or better service offerings. Chapters 8 and 13 give additional guidance about product design and what to offer because simply paying more for what patients are already getting doesn't fly!

    —Arney Benson, PharmD, MBA, A.B. Consulting for Healthcare