One of the trends in the world of healthcare is concierge medical are. Honestly, I'm not sure if I got the term right -- maybe there's another or a better word for it. But I'm talking about the practice of doctors charging a membership fee for access to their services.
One doctor I know is typical. In private practice, he's a primary care physician. But he charges a membership fee to see him. Of course, once you've paid the membership fee, you don't have to pay extra for most services. members do pay for such things as vaccinations, since he himself has to pay for those. In theory, nonmembers can see him. But it's very difficult for them to get appointments, and they pay for every service.
But now, this doctor tells me, he has heard grumblings from the New York Department of Financial Services. They are, as he puts it, uneasy about the arrangement. Their concern is that a patient can come in every day and get looked at and examined for free. So, the argument goes, the doctor is effectively selling health insurance -- without all the reporting, review and other logistical hoo-hah required of health insurers.
I mentioned this to a small group of colleagues. They all seem to think it's a stretch. The doctor isn't putting himself on the hook for any kind of monetary outlay. It's just time. They also argued that any kind of product guarantee is, effectively an insurance policy. I suppose that's more in the realm of P&C insurance, and we're all life actuaries, but the principal is the same.
I didn't debate the issue with my colleagues, since this isn't my fight. I will be interested in following up with my doctor friend to find out if there are any developments.
In the meantime, can I claim CE credit for the time it took me to write this blogpost?
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