Joan Murray reports on concierge medicine's growth in South Florida, where doctors like cardiologist Tiffany Di Pietro limit their patient panels to around 300 for personalized care. The market is projected to reach $36 billion by 2030, up from $20 billion in 2024, with annual costs typically between $2,000 and $10,000.
All right, many folks of course can relate to this. You need to see the doctor but have to wait months for an appointment.
It's the worst, but many people are opting out of the wait and opting into concierge medicine. They pay for more access to their doctors. A report out this week found the market for concierge medicine was valued at more than $20 billion in 2024. That number is expected to grow to nearly $36 billion in 2030.
CBS News by me is Joan Murray explores why some are willing to pay the price.
As a stock trader and investment manager, Ian Scott is well aware the value of time, and when he's not working, how much time it takes to manage healthcare, from seeing a doctor to getting medication.
And sometimes you could reach out to them, leave a message, and it would just fall on deaf ears. It just never happens with Concierge Medicine.
By definition, Concierge Medicine is a membership-based medical practice offering more personalized care for a yearly fee.
How you doing, honey?
Ian Scott pays $425 a month for unlimited visits and access. Dr. Di Pietro has been a cardiologist 10 years but gave up her traditional practice for personalized medicine.
Primary care, I'd say most physicians, physicians have between probably 3,000 and 5,000 patients in their practice, especially in South Florida. You know, pretty dense community down here, and they're probably seeing 6 to 8 patients an hour. I see anywhere between 1 to 2 patients an hour.
People turning to concierge medicine in South Florida gotta pay on average out of pocket $2,000 to $10,000 a year. The cost is not covered by insurance. However, your insurance does cover things like tests, imaging, and prescribed medication. So what would you say are the biggest advantages to Concierge Medicine?
Oh, one of the big advantages I like is the preventative medicine. The access to my previous doctor was awful.
That access, quicker wait times, and early detection has driven enrollment at the country's largest membership-based healthcare service, MDVIP, based in South Florida. Chief Medical Officer Dr. Andrea Clems says their 1,300 doctors are treating 400,000 patients around the country, a 65% increase in 5 years. Why the switch? She says it comes down to the rule of threes.
It takes them 3 weeks to get an appointment, 3 hours in the waiting room to get 3 minutes with the doctor.
MDVIP's recent physician survey found 81% of doctors don't feel they have enough time with patients. 52% say they would choose a different specialty.
I published data on many different things, saving the healthcare system money, but also our patients have less heart attacks and strokes. They live longer.
Yes.
Dr. Di Pietro limits her practice to 300 patients. She still works long hours and is on call, but she'd never go back to running a standard practice.
Most importantly is I go to bed at night knowing, okay, I got everything done, I didn't rush anything, I feel like I did everything right today.
And doctors tell me this form of personalized care is only going to get bigger here in South Florida as people pay more attention to their health and need to save time. In Fort Lauderdale, Joan Murray, CBS News Miami.
