Since hitting the scene a few years ago, concierge medicine has been the subject of much discussion. Concierge medicine refers to an arrangement in which a patient pays a set amount a month, and the patient has a certain number of hours he or she can see the doctor for that time. These “retainers” are common in other business fields, and are even becoming more common in veterinary medicine, but will it work for human medicine?

A survey recently suggests that roughly 20% of physicians are either practicing concierge medicine or are considering it for the future.

What does this mean for the future of healthcare? It could mean private practices have an easier time managing cash flow, given that there won’t be as immediate a need to collect on outstanding balances. This could give medical providers an opportunity to treat fewer patients and provide more personalized healthcare plans for their patients.

For more information about the new wave of concierge medicine, read the article here.