Case Study: Starting a Concierge Medical Practice in Internal Medicine in Miami, FL
SM CONCIERGE MEDICINE: Concierge Medical Practice in Miami, FL
Owning and operating a practice of your own is already challenging, and managing a concierge medical practice can be even harder. Operating in a crowded space like Miami means you have to up your game and offer services above and beyond the grain. The bigger challenges include projecting Dr. Maghidman as a leader in this space and marketing the practice to concierge patients when they have so many other choices.
For 10 years. Dr. Maghidman struggled to make his practice viable. To make ends meet, Dr. Maghidman had a part-time locum tenens hospitalist job that took much of his time keeping him away from family and his clinic. It became difficult to put his energy into both jobs. We started from scratch with this project. From setting up phone lines, HIPAA compliant chat systems, to training staff on answering calls, we did it all. We took a fresh start with his website and overall marketing approach. We also introduced strategic pricing, regulatory compliance, automated workflows, and renewed overall strategy of growth.
The goal was to emphasize Dr. Maghidman’s great skills and bedside manner and invite the patients to experience his care. In the competitive landscape of Miami, Florida, we had to find ways to help his practice stand out from the rest and we deployed a lot of resources to get this ball rolling.
Key Areas of Support:
Marketing & Strategy
Setting overall strategy and a fresh approach to marketing his concierge practice.Operational Optimizations
We implemented work-flow optimizations, automation implementation, cost improvements, automated billing, efficient call handling, doctor scheduling, pricing research among others.Reduced Cost of Operations
We implemented EMR, billing, scheduling and accounting at our expense. We reduced purchasing cost to the clinic with a specialized GPO. We also reduced transactional cost by switching to reduced fee credit card processing.
Regulatory Compliance
We provided guidance on Regulatory matters and HIPPA compliance.Billing Management
Fully automated and error free billing and membership management including bank grade security and oversight on accounting to ensure all proceeds are accounted for.Strategic Pricing
We improved profitability of the clinic by aligning the pricing structure with the market. We introduced new services and products that further improved clinic's profitability.
We have achieved a concierge medical practice that is thriving for Dr. Maghidman in a few short months. His name is growing and he is well respected by his patients as he provides above and beyond care as compared to peers. The clinic is gaining a steady stream of concierge patients. The clinic is also benefiting from streamlined operations and automated workflows. There is additional revenue coming in from the introduction of supplemental streams of income. In some ways starting a concierge practice is a different challenge than re-establishing it.
Dr. Maghidman quit his locums work 3 months into starting with us and is now 100% concentrated on growing his practice along with us.
