MDVIP

MDVIP
Company type
Privately held company
IndustryHealth care
Founded2000; 26 years ago (2000)
Headquarters
Boca Raton, Florida
,
United States
Area served
45 states and the District of Columbia
ServicesPrimary-care medicine
ParentGoldman Sachs Asset Management and Charlesbank Capital Partners
Websitemdvip.com

MDVIP is an American company, headquartered in Boca Raton, Florida, that operates a network of concierge physicians (see concierge medicine). The company's physicians practice preventive medicine and personalized primary-care medicine.

The national network consists of 1,300 physicians serving over 400,000 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 $2,500 and $5,000 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]

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.[9]

See also

References

  1. ^ "Our Philosophy and History - MDVIP". www.mdvip.com.
  2. ^ "MDVIP Patient Advantages".
  3. ^ http://www.themiddlemarket.com/news/2/summit-partners-buys-mdvip-from-p-g-249552-1.html Archived September 26, 2014, at the Wayback Machine .
  4. ^ "Leonard Green & Partners Acquires Majority Ownership of MDVIP from Summit Partners | MDVIP".
  5. ^ "Goldman Sachs Asset Management and Charlesbank Capital Partners Complete Acquisition of MDVIP Primary Care Network | MDVIP".
  6. ^ "MDVIP | Benefits of Our Patient Centered Care Program".
  7. ^ MDVIP Insurance and Medicare.
  8. ^ The Boston Globe[dead link] . Boston.com.
  9. ^ "Forrest Direct Pay" Archived April 2, 2012, at the Wayback Machine.

Further reading

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