Opportunities and Risks Associated with Concierge Medical Practices

3140 Words7 Pages

Executive summary Maintaining optimal health should be everyone’s top priority, but who currently fully understands all health options and services that are available to them? Many individuals have financial managers who look after their financial health, but now many consumers have came to the realization that when it comes to their most valuable asset, their physical health they need a comparable resource. With ever changing health care regulations, a diminishing primary care physician base, and new medical technology creating an environment that is more complex for consumers to be able to navigate and select options for health care, consumers are in need of someone who knows how to navigate these choices and make carefully calculated decisions and selections for the consumer’s health care needs. Consumers need advocates that understand their individual situations, preferences, and consumers need for exclusive medical service offerings. For years concierge medical services were only for the most affluent consumers, but due to market innovations, consumers categorized as middle class are now seeking these types of services. This paper explores the opportunities and risks associated with concierge medical practices. It reviews the macro-environmental issues that concierge medical practices face, such a federally mandated regulations, and compares the competitive market landscape in regards to its direct competitor, family primary care practices. This paper further divulges into the internal functions of concierge medical practices, and how they can be suited to meet consumer’s needs for exclusive health care service offerings while meeting the consumer’s needs of convenience. This paper further divulges into consumer ... ... middle of paper ... ...making every consumer interaction count with the overall emphasis on building strong brand identity. To implement this strategy Partners’ Concierge Medical will have to make personal contact at health fairs within the Brentwood community to potential consumers in order to explain services that the company offers and how they differ from other traditional primary care services. Furthermore, Partners’ Concierge Medical needs to implement continual relationship marketing to their current consumer base to ensure that the levels of expected services are being met. Partners’ Concierge Medical will need to ensure there is regular communication through email, phone, and monthly hard copy newsletters that continually remind consumers of the exclusive services offered, as well as implementing a referral discounts to current consumers in order to generate new clientele.

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