A primary care practice goes bankrupt in Miami but its affiliated concierge practice remains open:
Even though the university expected Merino’s office to lose $50,000 to $80,000 a year, in the past 12 months it was almost $250,000 in the red, said Jerry Broderick, assistant chairman of the university’s department of medicine.
“The loss was far greater than what we’d planned for,” Broderick said. “Professional fees and patient revenues were never at the level we had hoped to achieve.”
The university will keep its concierge practice, which charges $1,500 a person for more personalized services and preventive care not covered by typical insurance plans.