Overview

MDVIP is a network of physicians founded in Boca Raton, Florida

Boca Raton, Florida

Boca Raton is a city in Palm Beach County, Florida, USA, incorporated in May 1925. In the 2000 census, the city had a total population of 74,764; the 2006 population recorded by the U.S. Census Bureau was 86,396. However, the majority of the people under the postal address of Boca Raton, about...

 in 2000. It is a division of Procter & Gamble

Procter & Gamble

Procter & Gamble is a Fortune 500 American multinational corporation headquartered in downtown Cincinnati, Ohio and manufactures a wide range of consumer goods....

, which first purchased 48% of the company in January 2007 and completed their acquisition in December 2009. The company's physicians

Physician

A physician is a health care provider who practices the profession of medicine, which is concerned with promoting, maintaining or restoring human health through the study, diagnosis, and treatment of disease, injury and other physical and mental impairments...

 practice proactive, preventive

Preventive medicine

Preventive medicine or preventive care refers to measures taken to prevent diseases, rather than curing them or treating their symptoms...

, and personalized primary care medicine

Primary care

Primary care is the term for the health services by providers who act as the principal point of consultation for patients within a health care system...

; not merely the detection and treatment of disease.

The national network consists of 480 physicians serving over 180,000 patients in 34 States and the District of Columbia. Each physician cares for up to 600 patients as opposed to the average 2,500 patients in a traditional primary care practice. MDVIP patients receive a comprehensive physical examination

Physical examination

Physical examination or clinical examination is the process by which a doctor investigates the body of a patient for signs of disease. It generally follows the taking of the medical history — an account of the symptoms as experienced by the patient...

 and follow-up wellness plan as well as medical records

Electronic medical record

An electronic medical record is a computerized medical record created in an organization that delivers care, such as a hospital or physician's office...

 in CD-ROM format and personalized web sites. Additional patient benefits include acute care

Acute care

Acute care is a branch of secondary health care where a patient receives active but short-term treatment for a severe injury or episode of illness, an urgent medical condition, or during recovery from surgery...

 visits, same or next day availability, on-time unhurried appointments, 24/7 physician availability, and enhanced coordination of specialty care.

Business Model

To supplement insurance reimbursements, MDVIP physicians charge patients an annual fee between $1500 and $1800 per year. In addition to this annual fee, patients are responsible for applicable co-pays and co-insurance, and maintain primary care insurance

Health insurance

Health insurance is insurance against the risk of incurring medical expenses among individuals. By estimating the overall risk of health care expenses among a targeted group, an insurer can develop a routine finance structure, such as a monthly premium or payroll tax, to ensure that money is...

 coverage including Medicare

Medicare

Medicare may refer to any of several publicly funded health insurance programs:*Medicare *Medicare *Medicare - See also :*Medicaid*Medicare Australia*Medicare Resources - China*Medicare Rights Center - United States...

. In contrast to the direct care model, this revenue format runs the risk of audit or penalty as Medicare and other private insurance carriers cover a comprehensive wellness exam currently listed as part of the MDVIP package.

MDVIP physicians are not directly employed by the company, instead they pay a royalty

Royalties

Royalties are usage-based payments made by one party to another for the right to ongoing use of an asset, sometimes an intellectual property...

 or franchise

Franchise fee

For Cable television franchise fee in the United States see Cable television franchise feeA franchise fee is a fee that a person pays to operate a franchise branch of a larger company and enjoy the profits therefrom.-Scope:...

fee of $500 per patient per year for services such as patient conversion, marketing, branding, and other support.