Rise of Elite Concierge Medicine: A New Essential for Family Offices

In recent years, the landscape of premium healthcare has evolved dramatically. At the forefront of this transformation is elite concierge medicine—a sector witnessing significant growth as it tailors its services to the unique needs of ultra-high-net-worth individuals (UHNWIs) and their families. For family offices, these personalized medical services are rapidly becoming an indispensable aspect of comprehensive wealth management.

The Concierge Medicine Boom

According to Grand View Research, the global concierge medicine market, valued at $22.6 billion in 2021, is expected to soar to $32.5 billion by 2030. This impressive growth reflects the increasing demand for personalized, on-demand healthcare services among affluent clients, who prioritize convenience, privacy, and exceptional quality of care.

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Leading the Charge: Private Medical and Sollis Health

Two notable leaders in this expanding field are Private Medical and Sollis Health, both setting new standards for premium healthcare.

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Founded by Dr. Jordan Shlain in 2002, **Private Medical** delivers an ultra-exclusive concierge medicine service. With a deliberately limited patient base, it offers round-the-clock access to elite physicians, in-depth health assessments, and seamless coordination of specialist care. Private Medical's offerings extend beyond traditional healthcare, including house calls, travel medicine, and cutting-edge telemedicine options.

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Meanwhile, Sollis Health, established in 2016, has quickly gained prominence with its members-only medical centers located in prime U.S. cities. Sollis provides 24/7 access to state-of-the-art facilities equipped with advanced imaging technology, on-site laboratories, and a network of top-tier specialists. Combining the immediacy of an emergency room with the luxury of a five-star hotel, Sollis eliminates wait times while delivering unparalleled service.

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Family Offices Embrace Concierge Medicine

Family offices, tasked with managing and preserving multigenerational wealth, increasingly recognize health as a critical form of capital. Many now retain elite concierge medicine providers such as Private Medical and Sollis Health, particularly when dedicated in-house medical teams are unavailable.

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This shift reflects a broader trend in wealth management, emphasizing the protection and optimization of family members' health alongside financial assets. Concierge medicine offers several advantages that align closely with the priorities of family offices:

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1. Proactive Health Management: These services emphasize preventative care and early intervention, potentially saving millions in future healthcare costs.
2. Time Efficiency: The ability to access medical care immediately, without waiting, is invaluable for busy executives and family members.
3. Global Coverage: For families with international travel needs, having a medical team that can coordinate care anywhere in the world offers immense peace of mind.
4. Discretion and Privacy: High-profile clients value the confidentiality and personalized attention that concierge services provide.
5. Access to Top Specialists: Concierge services facilitate fast-track appointments with world-renowned specialists, which is critical when managing complex health issues.
6. Family-Wide Health Coordination: These services manage the healthcare needs of multiple generations, ensuring continuity of care across the family.

The Future of Elite Healthcare

As concierge medicine continues to evolve, we can anticipate even more sophisticated offerings tailored to the UHNW market. Innovations in genomics, personalized medicine, and AI-driven diagnostics are poised to enhance the value of these premium services further.

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Additionally, the COVID-19 pandemic has underscored the importance of robust health management, accelerating the appeal of concierge medicine. For family offices, investing in top-tier healthcare is not just about managing illness but optimizing overall well-being and longevity—key factors in preserving family legacies.

Conclusion

The rapid rise of elite concierge medicine, as exemplified by providers such as Private Medical and Sollis Health, marks a significant shift in how UHNWIs approach healthcare. For family offices, these services are evolving from a luxury to a strategic necessity. As this sector grows and innovates, concierge medicine is likely to play an increasingly central role in comprehensive wealth preservation strategies for family offices around the globe.

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If you're looking for more family office content to brush up your knowledge, explore our blog and check out this post by Maple Drive, "What Does a Family Office Do? A Comprehensive Job Description".