Successful Practice Conversions

Physicians FAQ

  

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What Is A Private Health Model?

The foundation of a private concierge model (aka; “concierge”, “boutique”, “retainer-based”, “VIP” or “membership”) is the direct relationship between the physician and their patients. This allows the practice to enhance the one-on-one relationship between the physician and each patient and to focus their attention and resources on providing proactive, preventive and wellness-centered health care rather than just “sick care”.

What Are The Benefits Of A Private Health Model?

As a physician, you know all too well that the health care landscape continues to change and the challenges most practices face continue to mount.  Thus, an increasing number of physicians are seeking newer models for their practice.

The benefits include:

  • Creation of a viable and sustainable practice model.
  • The time necessary to:
    • Practice proactive and preventive patient care rather than primarily “sick care”.
    • Develop an individual one-on-one relationship with each patient.
  • Reduced financial pressure:
    • Decreased administrative responsibilities.
    • Lower operating expenses.
    • Increased cash flow - revenue generation and ROI.
  • Balance between professional life and personal life.
  • Eliminate “burn-out”.
  • Improved morale.
Can I Continue To Accept Health Insurance And Medicare?

Yes, you will have the have option to continue to accept health insurance from third party payers as well as Medicare if that fits your model and goals.  Conversely, if your model and goals include opting-out of health insurance, all or specific payers, Paragon will work with you to ensure that’s done within regulations and guidelines.

Paragon Private Health includes billing services in our practice conversion services.  That provides each physician with additional time to focus on patient care.

What Should I Expect From Paragon?

Changing practice models is a monumental decision for any physician.  Paragon works directly with each physician to ensure that their conversion to a private concierge model is both viable and sustainable.  Once Paragon and the physician have concluded that a conversion is feasible, we will work in concert to ensure a successful outcome.  Paragon has developed a systematic approach to converting medical practices with minimal disruption of the day-to-day operation of the practice and minimal distractions for the physician.

Will I Keep My Employees?

Yes, you will maintain your current staffing levels throughout the conversion process.  One of the hallmarks of Paragon’s success in converting practices is the level of training provided to the employees and physicians.  

How Many Patients Will I Convert?

A full patient panel conversion is between 300 – 600 patients, depending on the objectives of the physician. A partial "hybrid" patient panel conversion varies based on the objectives of the practice.

Before the practice conversion begins, Paragon works with the physician to determine their goals as well as the minimum number of patients required to break even in the practice conversion.

Am I Qualified To Convert My Practice?

Paragon has established criteria for converting a practice to the Paragon Private Health model.  The Paragon criteria ensure that each practice meets the standards established by the company.  

Criteria Includes:

  • Physician’s
    • Educational and professional qualifications.
    • Ethical and legal standing.
    • Number of years in practice.
    • Number of years at current practice and location.
    • Patient panel size (patients seen in the past 24 months).
    • The number of years practicing medicine.
    • Demeanor and ability to communicate with their patients.
    • Loyalty of their patients.
    • Desire to practice proactive, preventive and wellness-centered medicine rather than just “sick care”.
    • Relationship with their employees, colleagues, etc.
    • Involvement in their community.
  • Demographic composition of the physician’s patient panel.

Paragon will gladly discuss the criteria with you.

Why Should I Use Paragon?

Paragon Private Health provides each of our physicians with an unparalleled level of service and support.  

Paragon Private Health

  • Is comprised of leading practice conversion and health care experts.
  • Our team has over 60 years of collective health care industry experience.
  • Recognizes the uniqueness of every doctor, practice, patient panel and market.  Thus, adapts the proven Paragon conversion model to the specific needs and goals of each physician.
  • Is invested in the success of each of our physician partners and earns our fees based on a pay-for-performance model.
  • Utilizes best practices and proven concepts.
  • Has the necessary resources to ensure long-term success.
  • Adheres to legal, regulatory and industry standards in all business practices.
  • Provides a customized practice experience, for the physicians and patients alike, while remaining focused on the viability and sustainability of the practice.