MDVIP

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MDVIP
TypePrivately held company
IndustryHealth care
Founded2000; 22 years ago (2000)
Headquarters
Boca Raton, Florida
,
United States
Area served
45 states and the District of Columbia
ServicesPrimary-care medicine
Parent
Websitemdvip.com

MDVIP 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.

The national network consists of 1,100 physicians serving over 360,000 patients in 45 states and the District of Columbia.[1] 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.[2]

History[]

Founded in Boca Raton in 2000. In June 2014, growth-equity investor Summit Partners acquired the company from Procter & Gamble.[3] In November 2017, Leonard Green & Partners acquired majority ownership.[4] In October 2021, Private Equity business within Goldman Sachs Asset Management (“Goldman Sachs”) and funds affiliated with Charlesbank Capital Partners (“Charlesbank”) completed the acquisition of MDVIP from Leonard Green & Partners and Summit Partners.[5]

Business model[]

To supplement insurance reimbursements, MDVIP physicians charge patients an annual fee between $1,650 and $3,530 per year.[6] In addition to this annual fee, patients are responsible for applicable co-pays and co-insurance, and maintain primary-care insurance coverage including Medicare.[7][8] 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.[9]

MDVIP physicians are not directly employed by the company, instead they pay a royalty or franchise fee of $500[10] per patient per year for services such as patient conversion, marketing, branding and other support.[11]

See also[]

References[]

  1. ^ "Our Philosophy and History - MDVIP". www.mdvip.com.
  2. ^ "MDVIP Patient Advantages".
  3. ^ http://www.themiddlemarket.com/news/2/summit-partners-buys-mdvip-from-p-g-249552-1.html .
  4. ^ https://www.mdvip.com/leonard-green-partners-acquires-majority-ownership-mdvip-summit-partners .
  5. ^ https://www.mdvip.com/about-mdvip/press-room/goldman-sachs-asset-management-and-charlesbank-capital-partners-complete-acquisition-mdvip-primary
  6. ^ https://www.mdvip.com/patients/benefits .
  7. ^ MDVIP Insurance and Medicare.
  8. ^ http://articles.boston.com/2011-04-17/business/29428534_1_concierge-medicine-mdvip-boutique-practices[permanent dead link]. Boston.com.
  9. ^ "What You Need to Know About the New, Free Medicare Checkup". AARP.
  10. ^ "A Different Kind of Doctoring.
  11. ^ "Forrest Direct Pay" Archived April 2, 2012, at the Wayback Machine.

Further reading[]

External links[]

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