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Hospitals eye concierge medicine to lure patients, boost revenue

Big name hospital chains from the Cleveland Clinic to Mass General are giving concierge medicine a try as they seek new revenue streams amid lower reimbursement and rising competition.

Cleveland Clinic Florida recently rolled out a concierge medicine program, hoping to attract 300 patients this year with the promise of longer doctor appointments, increased communication and better care coordination.

Other perks include same day/next day appointments and access to specialists both in Florida and at Cleveland Clinic headquarters in Ohio.

For $4,000 a year, members get an annual physical exam, electrocardiogram and blood draw. However, the program does not accept insurance, meaning many additional services must be paid for out of pocket.