Physicians turning to subscription-based care to maintain independence

Luke Gale | November 01, 2012 | Health Exec | Precision Medicine

Many fewer physicians are practicing independently compared with a decade ago and those sticking to it are turning to new business models to maintain their independence, according to an Accenture survey.

The percentage of physicians practicing independently has dropped from 57 percent in 2000 to 39 percent in 2012, according to the survey of 204 physicians. Business operations was a commonly cited reason for seeking employment, with 61 percent reporting it a top concern. Cost was most commonly cited as a reason to seek employment, with 87 percent reporting expenses as a chief concern.

Physicians remaining in private practice are increasingly turning to subscription-based care, such as concierge services. One-third of independent physicians are considering a range of subscription-based business models, according to an Accenture estimate. “Doctors who convert to subscription-based models that shift the focus away from service volume will not only access greater financial rewards, but will also gain the flexibility to get back to the basics of patient care,” the report read.

Subscription-based models can take on a range of forms, from $30,000-per-year concierge medicine to $200-per-year direct pay arrangements. These models also offer benefits to patients. Costly concierge services give patients an experienced personal guide to coordinate their care and help them navigate their healthcare services. Physician cooperatives may offer same-day appointments and provider email access to patients for relatively low monthly fees.

“Such mixed models allow patients to keep their existing health insurance for acute conditions or emergencies, but supplement that with direct-pay care that allows patients to access medical information or book appointments via their smartphone,” the report concluded. “Such convenient access to care may encourage patients to keep up with primary or preventive care, thus improving overall wellness.”

To read the report, visit the Accenture website.