MDVIP
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MDVIP is an American company, headquartered in Boca Raton, Florida, that operates a network of concierge physicians (see concierge medicine). The company's physicians practice preventive medicine and personalized primary-care medicine.
The national network consists of 1,300 physicians serving over 400,000 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] In October 2021, Goldman Sachs Asset Management's Private Equity group and Charlesbank Capital Partners completed the acquisition of MDVIP from Leonard Green & Partners and Summit Partners.[5]
Business model
To supplement insurance reimbursements, MDVIP physicians charge patients an annual fee between $2,500 and $5,000 per year.[6] In addition to this annual fee, patients are responsible for applicable co-pays and co-insurance, and maintain primary-care insurance coverage including Medicare.[7][8]
MDVIP physicians are not directly employed by the company, instead they pay a royalty or franchise fee of 1/3rd of the membership fee per patient per year for services such as patient conversion, marketing, branding and other support.[9]
See also
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References
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- ↑ "MDVIP Patient Advantages".
- ↑ http://www.themiddlemarket.com/news/2/summit-partners-buys-mdvip-from-p-g-249552-1.html .
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- ↑ MDVIP Insurance and Medicare.
- ↑ The Boston GlobeScript error: No such module "Unsubst".Template:Cbignore . Boston.com.
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Further reading
- "Concierge Medicine: Greater Access for a Fee". PBS NewsHour. PBS television, July 9, 2012.
External links
- Template:Url, the company's official website
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