More St. Louis medical practices are adopting concierge payment policies to deal with the mounting costs of operating off of insurance company reimbursements, according to KSDK.
Concierge medicine, or boutique medicine, practices typically require patients to pay an annual fee and do not accept insurance. About 15 such practices have opened in St. Louis in the last 10 years, according to the report.
While prices go up for patients, practitioners who support concierge practices say they allow physicians to be more available to their patients and able to cater to patient needs rather than insurance demands.
Currently, concierge practices remain more prevalent for niche specialties, but experts expect the overall number of them to continue growing.
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Concierge medicine, or boutique medicine, practices typically require patients to pay an annual fee and do not accept insurance. About 15 such practices have opened in St. Louis in the last 10 years, according to the report.
While prices go up for patients, practitioners who support concierge practices say they allow physicians to be more available to their patients and able to cater to patient needs rather than insurance demands.
Currently, concierge practices remain more prevalent for niche specialties, but experts expect the overall number of them to continue growing.
More Articles on Coding, Billing and Collections:
Report: Demand for Certified Professional Coders to Increase With ICD-10
Opinion: SNOMED-CT Not Realistic Alternative to ICD-10
New Jersey Hospital Association Expands Bundled Payment Pilot Program