| Type | Privately held company |
|---|---|
| Industry | Health care |
| Founded | 2000 |
| Headquarters | , United States |
Area served | 45 states and the District of Columbia |
| Services | Primary-care medicine |
| Parent | Goldman Sachs Asset Management and Charlesbank Capital Partners |
| Website | mdvip |
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 380,000 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, Goldman Sachs Asset Management's Private Equity group and Charlesbank Capital Partners 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 $1,800 and $2,200 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] 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 1/3rd of the membership fee per patient per year for services such as patient conversion, marketing, branding and other support.[10]
See also
References
- ^ "Our Philosophy and History - MDVIP". www.mdvip.com.
- ^ "MDVIP Patient Advantages".
- ^ http://www.themiddlemarket.com/news/2/summit-partners-buys-mdvip-from-p-g-249552-1.html .
- ^ "Leonard Green & Partners Acquires Majority Ownership of MDVIP from Summit Partners | MDVIP".
- ^ "Goldman Sachs Asset Management and Charlesbank Capital Partners Complete Acquisition of MDVIP Primary Care Network | MDVIP".
- ^ "MDVIP | Benefits of Our Patient Centered Care Program".
- ^ MDVIP Insurance and Medicare.
- ^ http://articles.boston.com/2011-04-17/business/29428534_1_concierge-medicine-mdvip-boutique-practices[permanent dead link]. Boston.com.
- ^ "What You Need to Know About the New, Free Medicare Checkup". AARP.
- ^ "Forrest Direct Pay" Archived April 2, 2012, at the Wayback Machine.
Further reading
- "Concierge Medicine: Greater Access for a Fee". PBS NewsHour. PBS television, July 9, 2012.
External links
- mdvip
.com, the company's official website
This page was last edited on 30 November 2023, at 00:58