Rothstein Kass Research: Over Half of Single-family Offices Now Using Concierge Healthcare Providers
NEW YORK, Jan. 16, 2012 /PRNewswire/ — The Rothstein Kass Family Office Group (http://www.rkco.com/Site/FamilyOffices/CorpContent.aspx), a division of professional services firm Rothstein Kass (www.rkco.com), today announced the release of “The Single-Family Office Healthcare Advantage,” a comprehensive study highlighting the increasing use of concierge healthcare providers by single-family offices. The report features the findings of a survey of 151 single-family office executives, indicating that more than half currently use a concierge healthcare provider. Research conducted in 2009 found that around 36 percent of single-family offices were doing so at that time.
“The single-family office model continues to grow in popularity as wealthy families appreciate their ability to combine financial and lifestyle aspects under a unified family strategy. Due to the uncertainty surrounding healthcare systems in the United States and around the world, families are increasingly turning to single-family office executives for assistance with long-term healthcare concerns,” said Rick Flynn, Principal and Head of the Rothstein Kass Family Office Group. “Though most single-family offices now offer some level of concierge healthcare support, the scope and quality of service can vary greatly from provider to provider. It is important to work closely with clients to develop a strategy that best fits their individual requirements.”
Notable survey findings include:
- 94 percent of those surveyed cite management of severe medical conditions, as the top reason for engaging concierge healthcare providers.
- Over 83 percent of single-family offices engage concierge healthcare providers to help them better deal with and use the healthcare system.
- While over 90 percent of single-family offices cite immediate access to emergency care physicians as a very important service, only around 17 percent currently have this service.
- Over 77 percent of single-family offices find it very important to remotely monitor chronic conditions, while only about 24 percent of them currently have this service.
- Second opinions from leading physicians, over 84 percent, and access to top quality healthcare when traveling, nearly 75 percent, are also cited as top reasons for engaging a concierge healthcare provider.
About Rothstein Kass:
Rothstein Kass is a premier professional services firm that has served privately held and publicly traded companies, as well as high-net-worth individuals and families, for more than 50 years. As trusted advisors to our clients, Rothstein Kass provides accounting, auditing and tax services, as well as a full array of integrated services, to clients across industry spectrums and in all stages of organizational development. At the core of Rothstein Kass’ remarkable success lies our commitment to hiring, developing and retaining employees that represent an entrepreneurial spirit mirroring that of the sophisticated business and financial services communities that we serve.
The Rothstein Kass Family Office Group offers a wide range of financial, wealth planning and lifestyle management services to family offices and high-net-worth individuals. Composed of seasoned financial professionals and certified public accountants, the Family Office Group applies proven expertise with the utmost discretion and attention. A division of the Rothstein Kass Commercial Services Group, the Family Office Group does not provide investment allocation, asset management or advisory services.
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SOURCE Rothstein Kass