MDVIP

MDVIP is an American company, headquartered in Boca Raton, Florida, that operates a network of physicians. The company's physicians practice preventive medicine and personalized primary-care medicine.

MDVIP
TypePrivately held company
IndustryHealth care
Founded2000 (2000)
Headquarters
Boca Raton, Florida
,
United States
Area served
45 states and the District of Columbia
ServicesPrimary-care medicine
ParentLeonard Green & Partners
Websitemdvip.com

The national network consists of 900 physicians serving over 300,000 patients in 45 states and the District of Columbia.[1] Each physician cares for up to 600 patients as opposed to the average 2,500-3,500 patients in a traditional primary-care practice. MDVIP patients receive a comprehensive physical examination and follow-up wellness plan as well as electronic medical records and a personalized patient portal with focus on diet, exercise, doctor communication and more. The company states that additional patient benefits include acute-care visits, same or next-day availability, on-time appointments, 24/7 physician availability, and enhanced coordination of specialty care.[2]

History

Founded in Boca Raton in 2000, in June 2014, growth-equity investor Summit Partners acquired the company from Procter & Gamble.[3] In November 2017, Leonard Green & Partners acquired majority ownership. [4]

Business model

To supplement insurance reimbursements, MDVIP physicians charge patients an annual fee between $1,650 and $2,200 per year.[5] In addition to this annual fee, patients are responsible for applicable co-pays and co-insurance, and maintain primary-care insurance coverage including Medicare.[6][7] In contrast to the direct-care model, this revenue format, often referenced as concierge medicine, runs the risk of audit or penalty as Medicare and other private-insurance carriers cover a comprehensive wellness exam currently listed as part of the MDVIP package.[8]

MDVIP physicians are not directly employed by the company, instead they pay a royalty or franchise fee of $500[9] per patient per year for services such as patient conversion, marketing, branding and other support.[10]

See also

References
  1. "Our Philosophy and History - MDVIP". www.mdvip.com.
  2. "MDVIP Patient Advantages".
  3. .
  4. .
  5. .
  6. MDVIP Insurance and Medicare.
  7. . Boston.com.
  8. "What You Need to Know About the New, Free Medicare Checkup". AARP.
  9. "A Different Kind of Doctoring.
  10. "Forrest Direct Pay" Archived April 2, 2012, at the Wayback Machine.

Further reading
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.