Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

Is concierge healthcare the right investment for you?

IMG 6491 744 SBI 300739740 - Global Banking | Finance

By Annabelle Neame, Director of Business Development, HCA UK Concierge Centre

Driven by the realisation of how fragile good health can be and a growing concern to boost immunity, the market demand for concierge healthcare has accelerated during the pandemic.

In fact, such doctors saw a 21 percent rise in new patients during 2020 and, with the market size predicted to reach $1.93 trillion by 2025, this boom is set to stay.

The Covid-19 pandemic has triggered one of the most challenging periods for the healthcare sector and has had a significant impact on the delivery of primary care. Whilst physicians adapted at pace, moving to telemedicine and online appointments, many elective procedures and routine examinations were postponed. As a result, the number of people on England’s NHS waiting list has reached a record high of 5.6 million.

Amid this backdrop, it is unsurprising that the demand for concierge medical services continues to grow. However, whilst the past 18 months have highlighted the importance of having quick access to healthcare practitioners, there are key factors to consider before deciding if it is the right investment for you.

Rather than having calls fielded by administrators or having to wait months to see a specific doctor, the key benefit of a concierge healthcare service is that they provide direct access to healthcare practitioners and should make it easier to access high quality medical care, often providing same-day appointments or the ability to text and video chat. For example, at HCA UK our Rapid Response Referral responds to requests for complex healthcare support within two hours, ensuring patients receive a seamless service and removing the stressful and time-consuming process of finding and arranging your own healthcare.

In addition, concierge healthcare offers the certainty of remaining under the care of, and having round the clock access to, the same physician allowing you to get comfortable with your doctor. This familiarity helps to re-assure patients that they will receive the care they need, exactly when they need it, and it also makes it easier for practitioners to focus on preventative care.

Typically, we have seen older patients with chronic conditions benefit from concierge healthcare services. However, a more personalised approach to healthcare can also have benefits for younger generations, especially if you have a complicated medical background and therefore require extended appointments to address all your concerns.

Moreover, if you are starting to travel again, then concierge healthcare could be a timely investment. With the emergence of new variants, changing border restrictions and the varying success of vaccination rollouts across the world, there is still a great deal of risk involved.

Many concierge providers focus on lifestyle enhancements over medical expertise and experience. Therefore, having the right provider is key when repatriation is a requirement as it’s not something all are equipped to navigate. For international travel you should consider a concierge healthcare provider that is fully equipped to handle the additional challenges of providing emergency cross-border healthcare and arranging ICU to ICU transfers all over the globe.

Yet, despite the benefits for individuals if trauma or illness occurs overseas and a transfer into healthcare in the UK is needed, concierge medicine may not be the right investment for everyone.

Firstly, it can be expensive and the associated costs can often be prohibitive. As a result, it might not be the most suitable investment for younger patients or those without complex health issues. For example, if you are typically healthy and rarely require medical attention, then you may be more suited to a traditional healthcare practice.

As with any investment, the crucial factor to consider is your initial financial outlay versus your return. If you don’t have a need to see a doctor regularly, then you are not going to make the most of your investment. Moreover, additional costs for specialist consultations, prescriptions and hospital visits may not be included with the service and, depending on your locality, concierge options may be limited. Therefore, review their credentials carefully and make sure that any concierge healthcare service aligns with your anticipated level of support before committing. At the end of the day, you will be trusting them to direct your healthcare.

Ultimately, the pandemic has transformed the landscape for patient care. Individuals are now much more concerned by their health and are increasingly seeking out ways to establish a strong connection with their doctor.

Through providing uninterrupted, direct access to a healthcare physician, concierge medicine is quickly becoming the answer to individuals across the globe. Therefore, whilst typically perceived as a luxury amenity, the narrative has started to shift, with many considering it as an essential. However, whilst many are expecting to see the demand for concierge practices outlast the pandemic, it has to be the right investment for you, your health needs and your finances.

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post