The number of independent physicians is declining, according to Accenture research. Physicians who wish to remain independent have to find ways to lower their cost structure or improve their revenue. Subscription-based practices have the potential to do both. Doctors who convert to subscription-based models that shift the focus away from service volume will not only access greater financial rewards, but will also gain the flexibility to get back to the basics of patient care. Patients could also reap the rewards by gaining enhanced access to care at a service level they can afford.
There is a wide range of subscription-based models. The associated costs range, too. According to Accenture’s research, the most common include high-end concierge medicine and direct pay models. Subscription-based models may expand and evolve over time as many physicians continue to look for ways to differentiate their practice in order to remain independent and self-employed.
In this point of view, Accenture examines these subscription-based models.