Wait, how does this work exactly?
Exact Healthcare allows physicians to create customized membership plans for patients, offering services beyond the usual office visit experience, and securing revenue beyond reimbursements from third-party payors.
It’s similar to concierge medicine, but much more flexible and customizable. Plus, we take care of the logistics and eliminate any upfront cost or risk on your side.
Why would I want to do this?
In conventional medical practice, you’re ultimately working for insurance companies and Medicare. They decide how much your time is worth, and your practice must be built around their constraints.
With Exact Healthcare, you work directly for patients again. Set the terms of your engagement, capture your full market value, and create a recurring revenue stream that frees you to provide the best healthcare possible, without the encumbrances of a typical practice.
What kind of services do I have to provide if I use Exact Healthcare?
You don’t have to do any one thing in particular, though you’ll need to craft an experience superior to “usual care.” For most physicians, this includes increased access (e.g., the ability to call or text you directly), longer appointments, and recurring experiences such as patient education events.
You can set different parameters for each of these options, or choose to exclude some altogether. For example, if you want to let patients call you directly, but not in the middle of the night, you can set business hours. Our platform uses a sophisticated call-forwarding system to ensure that your phone won’t ring outside of these hours.
But I’m already offering many of those services to existing patients, for free.
We understand you always want to do the right thing for your patients. You try your best to answer messages and return calls quickly, and you always try to fit patients into your schedule in a timely manner. But there is only so much “you” to go around, and you may get stretched too thin. Indeed, the increased burden of uncompensated work is one of the key factors driving physician burnout. Exact Healthcare allows you to set a value on your time and set clearer expectations for you and your patients.
Can I use Exact Healthcare in my current practice?
Most likely. Though this model is particularly well-suited to primary care physicians, it is also feasible for any specialist who maintains long-term therapeutic relationships – e.g., cardiologists, nephrologists, neurologists, etc.
If you’re in independent/private practice, you can get started today.
If you’re an employed physician, you’ll need to look at your contract and/or speak with your employer to decide how Exact Healthcare fits into your current model. This will depend on factors such as how you are compensated, how strictly your employer regulates your “outside activities,” and whether income from this platform would have to be shared. We are happy to join a discussion with you and your employer if it is helpful.
Can I control who signs up for one of my plans?
Yes. You have to approve each patient who registers for membership. You have the ability to cancel any membership and issue a refund for the remaining time. We’d recommend this only in rare cases, such as an abusive or inappropriate patient.
Do I have to stop seeing patients who aren’t members in one of my plan(s)?
That’s up to you. Some physicians use Exact Healthcare to transition their entire practice to membership. Others use it for just a subset of patients and maintain “usual care” for the others.
If you opt for a partial transition, you’ll want to define “usual care” both for yourself and your patients, so that expectations are clear. This may include a policy on response time to messages, availability of follow-up appointments, and more.
How much does Exact Healthcare cost?
There is no upfront fee. We retain 12% of revenue earned through our platform, plus a 3% credit card fee, and send you a check for the rest. In this way, our financial incentives are aligned, and you never receive a bill from us.
How do I get paid?
We’ll send you a check each month. The payment is equal to the balance on your total amount earned to date, minus our fee. Patient payments are distributed over the time of service. For example, if a patient pays for the entire year in advance, you’ll get that payment in twelve monthly installments. This policy ensures that any disputes between you and your patients never result in your having to return money that was already paid out.
What if I change my mind and just want to go back to regular practice?
Just let us know what’s going on, and we’ll help you unwind your membership plans. In most cases we recommend “deactivating” your plans, meaning that new memberships and renewals are not possible. If you need to stop immediately, we can help cancel and refund the remaining time on your active membership terms.
Who is behind this?
Exact Healthcare was created by physicians. We know contemporary clinical practice, and we are here to help. See below for more details about us.