Handbook of Concierge Medical Practice Design: 1st Edition (Paperback) book cover

Handbook of Concierge Medical Practice Design

1st Edition

By Maria K. Todd

Productivity Press

212 pages | 4 B/W Illus.

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Description

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.

Reviews

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

Table of Contents

Private Practice in Transition

Introduction

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

Radiology

Laboratory

Pharmacy/Dispensary

Natural Disasters

Floors

Ceilings

Interior Doors

Door Swings

Safety Glazing

Stairways

Wall Protection at Drinking Fountains and Lavatories

Medical Waste

General Waste

Recycling

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

Index

About the Author

Maria Todd is an award-winning and internationally respected healthcare business consultant. She frequently presents continuing education workshops, seminars, and keynote addresses for international, national, state, and regional healthcare organizations, investment firms, pharmaceutical and device manufacturers, and medical staff meetings.

She has been consulting and managing medical groups in healthcare since shortly after graduation. She’s intimately familiar with the brand-building power of a successful marketing strategy and leading-edge innovation in healthcare. She built her first concierge medical practices and amenities-based practices internationally in the 1990s. They simply weren’t called concierge then; they were called private practices because the alternative was the public health, single-payer system. Maria often says, "If you wait long enough, you see things rotate back through again. I see cycles and recycles in healthcare (like independent practice associations [IPAs], and accountable care organizations [ACOs], for example). We’ll continue to see it until someone breaks the mold. Grab a hammer!"

Maria is the author of several commercially published, peer-reviewed books on myriad topics in healthcare business management, including the industry’s top books on managed care, physician employment contracting, physician integration and alignment, medical tourism, and this latest title on concierge medicine. Her work is easily found on the Internet.

Maria strives to be accessible to individual practitioners. She maintains a popular website that attracts more than 1,000 visitors a day and provides training through her website and private workshops and webinars. She blogs regularly at http://mercuryadvisorygroup.com, contributes actively on LinkedIn, and works one-on-one with clinicians across the country and throughout the world. Through her consulting firm, Mercury Advisory Group, she has been instrumental in building concierge medical practices, clinics, and hospitals throughout the United States and abroad. She also works on healthcare projects in the developing world, primarily in Asia and Africa.

Her clients benefit from dozens of checklists, templates, and worksheets that can bring order out of the chaos that accompanies most concierge medicine transition and marketing/promotion projects.

Subject Categories

BISAC Subject Codes/Headings:
BUS041000
BUSINESS & ECONOMICS / Management
BUS070080
BUSINESS & ECONOMICS / Industries / Service Industries
MED002000
MEDICAL / Administration