Meet the rich man’s personal doctor – $40,000 a year | Wilnesh News

A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide for high-net-worth investors and consumers. Sign up To receive future editions delivered directly to your inbox.

When Dr. Jordan Schlein is asked to describe his medical practice, he simply says, “It’s a home office for your health.”

“Family offices generally have the goal of preserving wealth,” he said. “Our goal is to protect your health. After age 24, your health assets depreciate. So our goal is to lower the slope of the curve for as long as possible.”

As frustrating as that sounds for patients, Schlein’s strategy is paying off as a business model. His company, Private Medical, is at the forefront of a new kind of health care for the ultra-wealthy, taking concierge medicine to a whole new level. Rather than simply providing on-call doctors and faster medical appointments, private healthcare has pioneered a highly personalized, integrated service more akin to the most sophisticated investment family offices.

Like family offices, private practices have an in-house team to manage a family’s entire health portfolio—from fitness and diet tracking to longevity research, surgeries and medical emergencies. The company currently serves more than 1,000 affluent families with offices in California, San Francisco, Silicon Valley, Santa Monica and Beverly Hills, New York and Miami, and is opening more offices.

Private Medical’s team of 135 doctors, nurses, clinical staff, pharmacists and medical support professionals provide a 24/7 on-call service, including in-home and office visits when needed. Private Medical does not advertise and gets most of its business through referrals. It prefers to call patients “members.”

Shlain declined to disclose specific prices, but Private Medical’s customers say the company charges $40,000 per year per adult patient and $25,000 per patient under 18 years old. Hospitalized.

The rise of family office-style healthcare practices, some of which charge as much as $60,000 a year for membership, reflects the surge in family wealth worth $100 million or more and growing demand for hyper-personalized, data-driven health care. An aging class of millionaires and millionaires.

According to data from Precedence Research, the market for concierge services and personalized medical services for the wealthy is expected to grow by more than 50% by 2032, reaching nearly $11 billion per year.

Shline said insurance companies, overloaded doctors and skyrocketing prices have turned the health care system into what he called a “disease care system.” Shlain said that for those who can afford it, the goal of private medicine is to be proactive, test and diagnose patients frequently, be constantly updated with new research and science, and obtain information about the patient’s lifestyle, habits, family life, and Details of working life.

Shlain’s father is a laparoscopic surgeon and his mother has a PhD. After earning a doctorate in psychology, he began doing house calls at the Mandarin Oriental Hotel in San Francisco. He took a “crash course” in high-end hotel service from a top hotel concierge and realized that health care should be more like the service of a five-star hotel than an impersonal system filled with long waits and faulty diagnoses.

“I will learn everything about you and help you make the best decision in your life,” he said. “I am 70% doctor, 15% psychologist, 10% rabbi, and 1% friend.”

Schlein said it’s often the job of private health care providers to protect patients from the broader health care system. One of his patients, a 38-year-old entrepreneur and large donor to a major hospital, was admitted with an intestinal obstruction. The hospital president and chief of surgery quickly started the operation. Shlaine countered, suggesting waiting a day or two. Schlaine said the patient recovered on his own while in the hospital and “was discharged without surgery.”

Shlain also creates personalized medical kits for patients to take with them when traveling or working. When a patient scratched his cornea while playing beach volleyball in the Bahamas, the patient was able to treat his eye with a prescription from a medical kit instead of searching for a hospital on one of the nearby islands.

As with most services for the ultra-rich, the main benefit of private medical care is convenience. Shlain has spent more than 20 years building relationships with more than 4,000 experts in various medical and scientific fields to find patients the right fit for their specific needs.

Private Medical is rooted in Silicon Valley and has numerous technology clients, as well as relationships with biotech startups conducting cutting-edge research and exploring new treatments. Shline said Private Medical Center conducts due diligence on four to five new companies each month to keep pace with rapidly changing science and research.

When a patient is diagnosed with severe depression, Shlain works with a new “precision psychiatry” group at Stanford University that performs MRIs of the brain and uses the connectome (neurons in the brain) to Connection diagram) to determine which drug is best for treatment.

“He got the right medication and now he’s doing much better,” Schlein said.

Private Medical also prides itself on technology developed with some of Silicon Valley’s top executives and entrepreneurs. Its platform helps doctors and patients easily access data, manage appointments and workflow.

For his wealthy patients, the two big areas were longevity and sleep. When it comes to longevity, there is no magic bullet, diet or drug that can turn back time, even for billionaires, Shlaine said. The real goal, he said, is “to keep you physically and mentally healthy for as long as possible and to have as few high-quality interactions with the health care system as possible.”

“Your good results are our income,” he said.

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