Type Privately held company Services Primary-care medicine CEO Bret Jorgensen CFO Matthew Hashem Chief medical officer Andrea Klemes | Industry Health care Website mdvip.com Headquarters Boca Raton Chief information officer Donald F. Hankus Parent organization Summit Partners | |
Area served 43 states and the District of Columbia Founded 2000, Boca Raton, Florida, United States Profiles | ||
MDVIP, Inc. is an American company, headquartered in Boca Raton, Florida, that operates a network of physicians. The company's physicians practice preventive medicine and personalized primary-care medicine.
Contents
The national network consists of 840 physicians serving over 260,000 patients in 43 states and the District of Columbia. 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.
Mdvip
History
Founded in Boca Raton in 2000, in June 2014, growth-equity investor Summit Partners acquired the company from Procter & Gamble Company.
Business model
To supplement insurance reimbursements, MDVIP physicians charge patients an annual fee between $1,500 and $1,800 per year. In addition to this annual fee, patients are responsible for applicable co-pays and co-insurance, and maintain primary-care insurance coverage including Medicare. In contrast to the direct-care model, this revenue format, often referenced as concierge medicine, runs the risk of audit or penalty as Medicare and other private-insurance carriers cover a comprehensive wellness exam currently listed as part of the MDVIP package.
MDVIP physicians are not directly employed by the company, instead they pay a royalty or franchise fee of $500 per patient per year for services such as patient conversion, marketing, branding and other support.