What Is Executive Concierge Medicine and Will It Benefit Your Business?

by | May 6, 2022 | Articles | 0 comments

As a busy executive, you have a lot on your plate. Whether you run a small business or a major corporation, it can be hard to make time to care for your health — especially when you consider the limitations of a traditional medical office.

The average executive doesn’t have time to sit around in a waiting room, nor can they wait weeks or even months before they can get an appointment. This is where concierge medicine comes in as a viable alternative.

Have you been curious about investing in executive concierge medicine for yourself and your fellow executives? Are you unsure about whether or not this service is right for your company?

If you’ve been asking any of these questions, this guide is for you. It provides an in-depth look at executive concierge medicine, how it differs from standard employee wellness programs, and the unique benefits it offers to you and your business.

What Is Concierge Medicine?

Concierge medicine goes by many other names, including the following:

  • Boutique medicine
  • Retainer-based medicine
  • Concierge care

Regardless of what you call it, the basic definition remains the same. Concierge medicine in its simplest form is a type of membership-based healthcare.

In exchange for a flat monthly fee, participants get access to exclusive, accessible, personalized, and convenient medical care. They get to “skip the line” and work directly with a physician on their schedules and their terms.

Concierge Physicians vs Traditional Physicians

When people participate in concierge medicine plans, they have direct access to a concierge physician. They may also work with other medical professionals like nurse practitioners.

When it comes to education and credentials, there’s no difference between a concierge practitioner and someone who works in a traditional healthcare clinic or medical practice.

A key difference, though, is that concierge physicians typically work with a smaller number of patients compared to those who work in a standard healthcare facility. As a result, they have more time to spend with each patient and can give them more one-on-one attention.

A concierge physician can do anything a traditional primary care physician does. This includes conducting physical exams, administering and interpreting lab tests, and providing diagnostic screenings.

Some concierge medicine businesses also offer additional, specialty services. This might include options like access to mental health resources, nutrition counseling, hormone therapy, and aesthetic services (laser treatments, injectables, etc.).

What Is Executive Concierge Medicine?

Executive concierge medicine is concierge medicine specifically geared toward CEOs and those in leadership roles.

Why do executives need their own unique type of concierge care?

Put simply, because they have more responsibilities — and those responsibilities can take a toll on their health and well-being.

What Does the Research Say?

Senior leaders, in most cases, are less healthy than their employees and the general workforce. There are several reasons for this, including the following:

  • Executives get 24 percent less sleep than the average worker, despite working 23 percent more hours.
  • 90 percent of executives struggle with work-life balance
  • 40 percent of executives struggle with depression

Executives also face a higher risk of heart disease compared to other workers. After all, 73% report living a sedentary lifestyle, and executives have a 40% obesity rate — and 100% of obese patients are at a greater risk of developing heart disease.

With statistics like these in mind, it makes sense that executives would need access to more robust healthcare services compared to the average employee.

Executive Concierge Medicine vs Traditional Health Benefits

Those who are considering investing in executive concierge medicine services commonly ask questions like “how does concierge medicine differ from traditional healthcare benefits?” or “why would I pay for concierge medicine when I already have health insurance?”

There are several differences between these two approaches to health coverage, including the following:

Flat Fees

One of the key tenets of concierge medicine is the flat monthly and annual fee. Once you pay that fee, you immediately gain access to a wide range of services — including unlimited visits with a physician and other providers employed by the practice.

No Copays or Deductibles

As you likely know, the cost of traditional health insurance extends far beyond the monthly premium. You also have to deal with additional costs like copays or paying out of pocket until you meet your deductible.

With concierge medicine, you don’t have to worry about any of these costs. All of your care is included in the flat fee mentioned above.

Expanded Services

In general, traditional health insurance plans don’t include services like nutrition counseling or aesthetic medicine.

Because they’re not beholden to any corporate entities, concierge medicine practices have a lot more freedom when it comes to the services they offer. As a result, you’ll likely gain access to a wider range of treatments and procedures when you invest in concierge medicine.

Not only can this help you save money, but it also makes healthcare more convenient. You can work with one team of professionals for the majority of your health and wellness needs instead of trying to communicate with several different practices.  

No Network Concerns

With concierge medicine, you also don’t have to worry about getting hit with extra costs because you chose a practitioner who wasn’t part of your insurance network.

Concierge makes it easy for you to access a variety of healthcare providers in one place — a primary care physician, a nutrition specialist, a mental health counselor, etc.

As a result, you don’t have to waste time calling multiple clinics, trying to get appointments, and worrying about whether or not their services are covered.

Medical Concierge Services: Benefits for Patients

There are lots of reasons to consider investing in executive concierge medicine for yourself as a business leader. The following are some of the greatest benefits you’ll experience when you start utilizing medical concierge services:

More Personalized Care

Take a moment and think about your last appointment with your primary care provider. Did you feel that you were receiving personalized care, or did it feel as though they could have been talking to any random patient?

Most people are more familiar with the second option than the first.

This isn’t necessarily the provider’s fault. They’re dealing with a system that tends to prioritize quantity over quality. In other words, they’re more focused on getting patients in and out as quickly as possible, rather than thoroughly evaluating them and giving them individualized care.

One of the best things about concierge medicine is the fact that concierge physicians and practitioners can provide more personalized treatment. They assess each patient as an individual and take their unique concerns into account before diagnosing them or making recommendations.

Greater Emphasis on Prevention

In general, concierge physicians place a greater emphasis on prevention compared to those who work in traditional practices.

Concierge physicians and their patients get to spend more time together than traditional physicians and their patients.

Because they have more time, it’s easier for them to conduct thorough assessments, answer your questions, and learn about your concerns. This also allows them to catch potential issues early — before they have a chance to escalate into full-blown health crises.

The saying “an ounce of prevention is worth a pound of cure” gets used so often because it’s true. The more diligent you are with your preventive care, the less likely you are to deal with serious health issues — including chronic health conditions like thyroid disease, diabetes, and cardiovascular disease.

Faster Appointments and Easier Scheduling

The last time you had to schedule an appointment with your primary care provider, how long did you have to wait? Days? Maybe even weeks?

It’s frustrating, to say the least, to try and navigate a traditional physician’s schedule and find time for an appointment — never mind the amount of time you have to spend waiting once you arrive at the doctor’s office. With executive concierge medicine, you don’t have to worry about these issues.

First, concierge physicians are at your service 24 hours a day, 7 days a week, 365 days a year.

They’re always available, so you can get an appointment at a time that works for you — whether that’s early in the morning before work, later in the evening after the workday has ended, or on a weekend.

Second, concierge physicians pride themselves on prompt responses. This means they’ll get to you right away and won’t leave you hanging. They understand how valuable your time is, and they won’t waste it making you sit around and wait any longer than is necessary.

More 1:1 Attention

As we mentioned earlier, concierge physicians and practitioners have more time to dedicate to each patient — in part because they see fewer patients overall compared to a traditional provider.

Since they have more time, it’s easier for them to give you one-on-one attention without making you feel rushed or as though they’re only partially listening to what you have to say.

Stronger Patient-Physician Relationships

A recent study revealed that the average length of a doctor’s visit in the U.S. is just 18 minutes. Imagine going to all the work of making an appointment and taking time off work for just 18 minutes of a doctor’s time!

When you have less than 20 minutes to spend with a physician, it can be hard to address all of your healthcare concerns. Furthermore, you may find it difficult to open up about what’s bothering you, especially when you’re dealing with personal and potentially awkward or embarrassing medical issues.

When you invest in concierge medicine, you don’t just get more time with your doctor. You also get a stronger relationship with them, which can help you to feel more comfortable talking about any and everything during your appointments.

Concierge doctors have the time, knowledge, and experience needed to provide whole-body care. They’re not just interested in putting bandages on bigger health issues and sending you on your way. They offer holistic care and help you feel your best from the inside out.

Ongoing Support and Follow-Ups

Think about your most valued clients.

You work hard to establish and nurture those relationships. You probably check in with these clients regularly to make sure they’re doing okay or to find out if they have any questions you can answer.

Concierge medicine works similarly. It views you as a valued client and places a greater emphasis on ongoing support compared to traditional medical practice.

Since they have fewer patients to worry about and wider availability, concierge physicians have an easier time checking in with you and following up after your appointments.

They understand that long-term health requires more than just an annual physical, so they will stay in touch and make themselves available to you whenever you have questions or concerns.

Better Treatment Outcomes

What happens when you combine personalized care, a greater emphasis on prevention, convenient appointments, more one-on-one attention, stronger patient-physician relationships, and ongoing support?

You typically end up with better treatment outcomes and improved patient health.

If you want to get the most from your healthcare plan, including executive concierge medicine is a great choice.

Executive concierge medicine provides an impressive return on your investment and sets you up for better long-term health. This, in turn, makes it easier for you to continue doing your job and performing at a high level.

Medical Concierge Services: Benefits for Businesses

Concierge medicine doesn’t just provide you with access to more robust, accessible, and convenient healthcare services. It also offers unique benefits to your business as a whole.

If the benefits to you as a patient weren’t enough to convince you to invest in executive concierge medicine, perhaps you’ll change your mind when you learn about the benefits for businesses. The following are some of the most important ones to keep in mind:

Improved Morale

It’s hard to maintain morale and have a positive attitude about your job — or anything in your life, for that matter — when you’re dealing with subpar physical or mental health.

Regular exams and easy access to a healthcare provider make it easier for you to address issues early on and get support right away. This, in turn, can lead to improved morale and help you to maintain a positive attitude at work.

Keep in mind, too, that when you have a good attitude, your colleagues and employees are also more likely to feel the same. This creates a more positive work environment for everyone and turns your company into a place that people want to show up to every day.

Fewer Sick Days

Sick days are inconvenient for everyone. However, they’re especially inconvenient for executives and those in leadership roles.

You know how hard it is to have to rearrange your schedule, push back meetings, and delay tasks because you’re not feeling well and need to stay home. You also know how difficult it is to get caught up once you return to work.

When you work with a concierge medicine service that makes preventive care a priority, you can improve your health across the board and reduce the number of sick days you need to take per year.

Less Presenteeism

“Presenteeism” refers to a situation in which someone is physically present but not mentally and emotionally present. In other words, their body is in the game but their head is not.

This isn’t a good position for any worker to find themselves in. However, it’s especially dangerous for executives.

If you’re not engaged in your job and all the responsibilities you have to juggle, important things could slip through the cracks and your business could suffer.

Having access to comprehensive concierge medicine helps you improve your physical and mental health — both of which are key when it comes to increasing engagement and improving performance.

Increased Productivity

When morale is high, you’re feeling physically and mentally well, and you’re engaged in your work, your productivity skyrockets. You’ll have an easier time getting things done, clearing your to-do list, and keeping your business running like a well-oiled machine.

Concierge physicians and other healthcare providers can help you address your well-being from all angles. They’ll then create protocols that allow you to feel your best and show up at work as the best version of yourself.

Improved Employee Retention

What kind of leader do people want to work for?

  • Someone who is engaged, productive, and supportive of their employees, OR
  • Someone who constantly takes days off, exhibits a high level of presenteeism when they are at work, and who has a negative attitude?

Most people would pick option 1.

If you pour into yourself and take care of your physical and mental health, you’ll turn your business into a better place to work. You’ll be more innovative and a better problem-solver, and will have an easier time coming up with ways to make the business better.

This may reduce your employee turnover rate and encourage people to stay loyal to your company long-term.

Easier Recruiting

You’ll have an easier time retaining employees when you take better care of yourself and perform at a high level. You’ll also have an easier time recruiting talented, high-performing employees in the future.

Remember, people want to work for executives who are charismatic, passionate, and good at what they do. When you improve your health and well-being, you’ll have an easier time becoming the type of leader people admire and want to learn from.

Increased Competitiveness

Investing in executive concierge medicine and prioritizing your health can help you make your business more competitive, too.

When your productivity and engagement are high, you’re better able to lead your team and make smart decisions for the company. This will help you to stand out from the crowd, draw in new customers, and get people interested in buying what you’re selling.

Increased Profitability

Every executive wants to increase sales and make their business more profitable, right?

When you become more competitive, increase your engagement and productivity, and attract talented individuals to your team, your chances of boosting profits go up quite a bit.

A well-run business is more likely to be a profitable business — and the best way to ensure your business is well-run is to take care of yourself, maintain your health, and avoid burnout.     

Can Concierge Medicine Replace Insurance?

Executive concierge medicine offers a lot of perks to you and your business, as you can see.

However, for those who are thinking about investing in concierge medicine services, it’s also important to note that it does not replace traditional health insurance.

Concierge medicine is certainly beneficial. This is especially true for executives and business leaders who are at a greater risk of various health conditions and may struggle to find time to work with a traditional healthcare provider.

At the same time, though, concierge medicine typically works best as an add-on to an existing health care plan — which covers things like catastrophic care and certain specialized treatments.

The good news is that those who choose concierge medicine services may be able to save money on traditional insurance plans since so much of their care is covered by their concierge plan.

For example, an executive might choose a high-deductible insurance plan with a lower premium for emergencies. Then, they can utilize their concierge medicine plan for preventative care and other services.

This saves them from having to deal with copays and other costs. It also provides access to more comprehensive care options, often at a lower upfront price.

What to Look for in Executive Concierge Medicine Services

If you’re interested in executive concierge medicine but have never looked into this type of healthcare, you might be a little overwhelmed when you first start your search.

Here are some factors to consider when reviewing different concierge medicine services:

Look Locally

A good starting point is to look for a local executive concierge medicine service. The closer the physician and staff are to your office, the easier it will be for you to see them when you need them the most.

Ensure Availability

Most concierge medicine services offer 24-7-365 care. Double-check that this is the case before you agree to work with a particular provider, though. Make sure their availability exceeds that of a traditional healthcare provider.

Make sure the service is currently accepting new patients, too. Because concierge medicine services typically take on fewer patients than a traditional practice, they might not be able to start working with you right away.

Consider Accessibility

As a busy executive, you don’t have time for a concierge physician who is hard to get in touch with. Ideally, they will have multiple channels you can use to contact their office — phone, email, chat, etc. They will also make it easy for you to get in touch with them directly.

When you’re working with a concierge service, you shouldn’t have to deal with an automated phone system and spend hours trying to get through to an actual human. You should be connected right away to someone who can answer your questions, help you make an appointment, and provide the care you need.

Consider Staff Experience

Do some research to learn about the physician and other staff members who make up a particular concierge practice.

How many people work for the practice? Where did they go to school? How long have they been practicing? What areas do they specialize in?

The more you know about a provider and their practice, the easier it is to know if they’re a good fit for you and your healthcare needs.

Look at Lists of Services

Take note of the specific services the practice offers, too.

Make sure they cover the basics like physical exams and preventative screenings, of course, but consider other services that might be beneficial.

For example, do they offer hormone therapy or nutrition services? Can they connect you to mental health professionals or help you create a better exercise regimen?

Ideally, you’ll work with a comprehensive practice that addresses health more holistically. This helps you get the greatest return on your investment. It also helps you experience more of the business benefits that concierge medicine can offer.

Ask About Pricing

Find out how much the practice charges for their services, and whether they charge on a monthly, quarterly, or annual basis.

Find out whether there are different plans available, too. For example, they might offer a less expensive plan that covers basic screenings and preventive care, plus a more costly plan that offers access to more resources and additional services.

It’s good to take price into account when choosing a concierge medicine service. However, remember that cheaper is not always better — especially when it comes to your health.

It may be worth it to invest more upfront and gain access to care and services that can help you prevent more serious (and costly) health issues later on.

Ask About Family Add-Ons

Some concierge medicine practices also offer a family add-on option so your spouse or children can experience the benefits of concierge care as well.

If you’re interested in this option, find out what the add-on costs are and what the add-on plan includes. Ask how many dependents you’re allowed to add to your plan as well so you can ensure everyone you care about is covered.

Read Reviews

If you’re still having a hard time finding an executive concierge medicine service after going through all the steps discussed above, take some time to read online reviews.

Find out what past patients have to say about their experience working with a particular physician and their practice.

Are they generally satisfied with the treatment they received? Do they feel the physician’s services were worth the cost? Would they recommend them to others?

Reading reviews can help you get a more well-rounded idea of what each practice offers. Then, you can choose the option that seems like the best fit for you.

Is Executive Concierge Medicine Right for You?

Executive concierge medicine is revolutionizing the healthcare industry and changing the way professionals all over the world take care of themselves and take care of business.

Now that you know more about what concierge medicine is, the benefits it offers, and how to choose the right services, are you more interested in investing in this type of service?

Keep the information in this guide in mind so you can make the right decision for yourself, your health, and your business.