Quick answer: A solo concierge medical practice in South Florida costs $75,000 to $200,000 to launch, with most Broward County physicians landing in the $100,000 to $175,000 range. Monthly overhead runs $12,000 to $24,000 once operational. The bigger financial risk is not the startup capital — it is choosing the wrong entity structure, payroll setup, or accounting system, which compounds into six-figure mistakes over time.

The Real Cost of Starting a Concierge Medical Practice

The number one barrier physicians cite when considering concierge medicine is startup cost. The fear is understandable — you are leaving a paycheck, taking on risk, and building something from scratch. (If you are still evaluating the income potential, start with our concierge medicine income guide.)

But the actual numbers are lower than most physicians expect. A concierge practice can launch for $75,000 to $200,000 in total startup capital, depending on your model, location, and whether you are building out new space or converting an existing practice.

The bigger risk is not the upfront investment. It is making expensive structural mistakes — wrong entity type, wrong payroll setup, wrong accounting system — that cost far more over time than the initial buildout.

Here is what it actually costs to launch a concierge practice in South Florida, broken down category by category.

One-Time Startup Costs

These are the costs you will incur before seeing your first patient. Not all are required on day one, but most should be budgeted for within the first 90 days.

Most solo concierge practices in Broward County launch in the $100,000 to $175,000 range. Physicians converting an existing practice spend significantly less than those building from scratch.

Monthly Recurring Costs

Once you are operational, these are the ongoing costs that determine your overhead ratio and ultimately your take-home pay.

South Florida Cost Benchmarks

Location drives a significant portion of your startup and recurring costs. Here is what medical office space costs across Broward County:

Note: Concierge practices need less space than traditional practices. You are seeing 300-500 patients, not 2,500. A 1,200-1,500 SF suite with two exam rooms, a small lab area, and a reception/office is sufficient for most solo concierge practices.

Staffing costs in South Florida for medical support roles:

Entity Structure Decisions — Get This Right from Day One

This is where physicians most frequently make costly mistakes. The entity structure you choose at launch affects your tax liability for every year you operate.

The Common Options

The S-Corp Decision

For most concierge physicians, the optimal structure is a Florida PLLC with S-Corp tax election. Here is why:

At $500,000 in net practice income, the difference between operating as a simple LLC versus an S-Corp with properly set reasonable compensation is approximately $15,000 to $25,000 per year in self-employment tax savings.

Over a 20-year career, that single structural decision is worth $300,000 to $500,000.

The S-Corp election costs a few hundred dollars to file. Not filing it — or filing it too late — is one of the most expensive mistakes a physician can make.

Warning: The S-Corp election must be filed within 75 days of entity formation (or by March 15 for the current tax year). Missing this deadline means waiting until the following year. Many physicians launch their practice in the wrong structure and do not correct it for years.

Technology Stack Costs

Concierge practices need far less technology infrastructure than insurance-based practices, but choosing the right tools matters.

Note: Many concierge-focused EHR systems bundle patient portal, messaging, and telehealth into a single platform. The total technology cost for a concierge practice is typically $800-$1,200/month — a fraction of the billing infrastructure required for insurance-based practices.

Staffing Models

Your staffing model is the single largest variable cost. Here are the most common configurations:

Model A: Solo Physician + One MA ($38K-$52K/year staff cost)

• Physician handles some admin tasks
• MA rooms patients, handles labs, assists with procedures
• Best for practices under 250 patients
• Lowest overhead, highest physician workload

Model B: Physician + MA + Part-Time Admin ($60K-$85K/year staff cost)

• Admin handles scheduling, phones, billing, supplies
• MA focuses on clinical support
• Best for 250-400 patients
• Most common model for new concierge practices

Model C: Physician + MA + Full-Time Admin ($75K-$100K/year staff cost)

• Dedicated roles for clinical and administrative functions
• Admin can also manage marketing and patient communications
• Best for 350-500+ patients
• Allows physician to focus entirely on clinical work

Pre-Launch Financial Checklist

Six Months Before Launch

• Determine entity structure (PLLC with S-Corp election for most physicians)
• Engage an accountant who understands physician practice economics
• Open business bank accounts
• Secure malpractice insurance quotes
• Begin commercial lease negotiations
• Develop financial projections (12-month cash flow forecast)

Try the Simulator: See exactly how your P&L and cash flow change as you grow your patient panel. Our Concierge Medicine Financial Simulator lets you adjust membership fees, costs, and physician salary — three views: Absolute $, % Revenue, and $ per Member.

• Establish personal savings reserve (6 months of personal expenses)

Three Months Before Launch

• File entity formation documents with Florida Division of Corporations
• File S-Corp election (Form 2553) — do not miss the deadline
• Set up accounting system (QuickBooks Online recommended)
• Set up payroll (even if you are the only employee initially)
• Order medical equipment and supplies
• Launch website and begin pre-marketing to potential patients
• Sign office lease

One Month Before Launch

• Finalize EHR setup and test workflows
• Set up membership billing system
• Establish patient agreements and consent forms
• Complete staff hiring and training
• Set up business insurance (general liability, property, cyber)
• Calculate and schedule quarterly estimated tax payments
• Confirm all licenses and credentials are current

Common Financial Mistakes at Launch

Mistake 1: Wrong Entity Structure

Operating as a sole proprietor or basic LLC when an S-Corp election would save $15,000-$25,000 per year in taxes. This compounds every single year.

Mistake 2: No Accounting System from Day One

Many physicians use personal bank accounts, track expenses in spreadsheets, and scramble at tax time. This creates problems that grow exponentially. Set up QuickBooks Online and a proper chart of accounts before your first patient walks in.

Mistake 3: Undercapitalization

Starting with too little cash reserve forces bad decisions — cutting marketing before the panel is full, delaying equipment purchases, or taking on high-interest debt. Budget for 6 months of operating expenses plus startup costs.

Mistake 4: Ignoring Retirement Plan Setup

The best time to establish a retirement plan is during your first year of practice. Waiting until year three or four means years of lost tax-sheltered compounding. A Solo 401(k) with employer contributions can shelter $69,000+ in year one. For advanced strategies, see our guide on how concierge physicians build wealth.

Mistake 5: Treating Accounting as Year-End Compliance

This is the most expensive mistake, and it is invisible. If your accountant only contacts you at tax time, you are missing 12 months of tax planning opportunities, operational insights, and financial visibility.

Why Your Accounting Setup Matters More Than Your Equipment Budget

A physician can practice medicine with basic equipment and upgrade later. But a wrong entity structure, missed S-Corp election, or absent tax strategy cannot be fixed retroactively. These are decisions that compound — for better or worse — every year.

Most accounting firms that serve physicians fall into two categories:

What concierge physicians actually need is a financial operating system — continuous accounting, real-time reporting, and proactive tax strategy that runs throughout the year, not a compliance exercise that happens once.

At Benefique Tax & Accounting in Davie, FL, we function as your outsourced finance department. We handle the accounting, financial reporting, tax planning, and operational analytics so you can focus on building your practice and treating patients.

For physicians launching a concierge practice, that means:

• Entity structure and S-Corp election done correctly from day one — not corrected years later
• Real-time financial reporting — you always know your revenue per patient, overhead ratio, and cash position
• Proactive tax strategy implemented during the year — retirement plans, compensation optimization, and deduction planning executed in real time, not discovered in April
• Operational insights from your financial data — staff efficiency, membership growth trajectory, and break-even analysis that inform real decisions
• Your entire accounting burden removed — your finance department exists, you just do not have to run it

We work with physician practices across Broward County. Concierge physicians are a tight-knit community, and many of our clients come through referrals from other physicians who experienced the difference between backward-looking tax prep and a forward-looking financial operating system.

If you are planning your launch, schedule a consultation and we will build a financial model for your specific situation — before you make the structural decisions that will affect your practice for years.

Why South Florida Is the Concierge Medicine Capital

If you are reading this from South Florida, you are already in the right place. The modern concierge medicine movement was born here.

MDVIP was founded in Boca Raton in 2000 by Dr. Robert Colton, Dr. Edward Goldman, and Dr. Bernard Kaminetsky. They took the ultra-luxury concierge model (which started in Seattle at $13,200/year) and made it accessible at $1,500/year. Twenty-five years later, MDVIP has 1,400+ physicians and 430,000+ members across 45 states — and they still operate from their new 49,000 SF headquarters in Boca Raton.

The tri-county area (Broward, Palm Beach, Miami-Dade) has one of the highest concentrations of concierge practices in the country. Baptist Health South Florida, UHealth Premier at the University of Miami, and dozens of independent practices serve a population that expects premium healthcare access. The national concierge medicine market is now valued at $7.35 billion and growing at over 10% annually, with Florida leading alongside California and Pennsylvania in total concierge physicians.

For physicians launching a concierge practice in South Florida, this density is an advantage. The patient base already understands the model. The referral networks exist. The infrastructure — from concierge-friendly office spaces to medical support staffing agencies — is built around this ecosystem.

At Benefique Tax & Accounting, we work from Davie, FL — in the center of this ecosystem. We see the financials of physician practices across Broward County. That proximity to the data is why the cost benchmarks, staffing ranges, and lease figures in this article reflect actual South Florida market conditions, not national averages.

Are Concierge Medical Fees Tax Deductible?

This is one of the most common questions we hear from both physicians (advising their patients) and patients themselves. The short answer: partially, and it depends on what the fee covers.

For a complete breakdown of the tax treatment — including HSA/FSA eligibility, employer deductions, and the proposed IRS regulations that could change the rules — read our dedicated guide: Are Concierge Medical Fees Tax Deductible? What Patients and Physicians Need to Know.

The key points:

• Deductible portion: The part of a concierge retainer that pays for actual medical services (annual physical, preventive screenings, specific visits) qualifies as a medical expense under IRC Section 213(d).
• Non-deductible portion: Fees paid solely for access, availability, shorter wait times, or 24/7 phone access are considered convenience fees and do not qualify.
• 7.5% AGI floor: Even deductible medical expenses only benefit taxpayers whose total medical expenses exceed 7.5% of adjusted gross income — and who itemize deductions.
• The employer angle: Companies can deduct concierge medicine as a business expense when offering it as an employee benefit. When properly structured through a Section 105 plan, it is tax-free to employees and deductible to the employer.

For concierge physicians: Understanding the tax treatment helps you advise patients and structure your membership agreements. Practices that provide detailed annual allocation statements (separating medical services from access fees) make it easier for patients to claim legitimate deductions — which makes your membership more attractive.

The Corporate Concierge Opportunity: A Revenue Strategy Most Physicians Miss

Most concierge physicians think exclusively about individual patient enrollment. But there is a B2B model that can dramatically accelerate panel fill and stabilize revenue: corporate concierge medicine.

Companies are increasingly offering concierge health programs as executive benefits and employee wellness programs. The business case is straightforward — healthier executives mean fewer lost workdays, lower health claims, and better retention of key talent.

Who Is Already Doing This

• MDVIP runs a dedicated employer program where Fortune 500 companies offer MDVIP memberships as covered or partially covered employee benefits. They report 20% fewer health claims and 45% fewer lost workdays per enrolled executive.
• Crossover Health operates private on-campus health centers for Apple, Microsoft, Meta, and Amazon. In January 2026, Crossover merged with Premise Health to create a combined organization serving 400+ organizations with nearly 900 wellness centers.
• Amazon's acquisition of One Medical gave them 8,000 clinicians and 8,500 existing employer relationships, signaling that the corporate healthcare model is scaling.

What This Means for a Solo Concierge Physician

You do not need to be MDVIP or Crossover Health. A solo concierge physician in Broward County can approach mid-size employers (50-500 employees) with a simple proposition:

"Offer your top 10-20 executives a concierge physician membership as a covered benefit. The company deducts the cost. The executive receives tax-free healthcare. Your retention of key people improves."

At $5,000/member/year, one corporate contract with 20 executives fills 20 patient slots and generates $100,000 in predictable annual revenue — without any individual marketing spend.

The tax structure works for everyone:

• The employer deducts the cost as a business expense under Section 162
• When structured through a Section 105 Medical Expense Reimbursement Plan, the benefit is excludable from the employee's income
• The physician receives predictable, contracted revenue with zero patient acquisition cost

This is the kind of financial strategy that emerges when your accountant understands both the physician's practice economics and the employer's tax position. It is not something you will find in a generic startup guide.

Frequently Asked Questions

How much does it cost to start a concierge medical practice?

Most solo concierge practices in Broward County launch for $100,000-$175,000 in total startup capital, including entity formation, office buildout, equipment, EHR, marketing, and 3-6 months of operating reserves. Physicians converting an existing practice spend significantly less than those building from scratch. See our income guide for revenue projections once your practice is operational.

What entity structure should a concierge physician use?

Most concierge physicians should form a Florida PLLC with S-Corp tax election. At $500,000+ in net income, the S-Corp election saves $15,000-$25,000 per year in self-employment taxes. The election must be filed on IRS Form 2553 within 75 days of entity formation or by March 15 for the current tax year.

How long does it take for a concierge practice to break even?

Converting an existing practice takes 6-12 months to break even and 12-24 months to reach target income. Starting a new concierge practice with no patient base takes 12-18 months to break even. Joining an established network like MDVIP can reach breakeven in 3-6 months. Read our financial comparison for detailed transition planning.

What is the monthly overhead for a concierge practice?

Monthly overhead typically ranges from $11,800-$24,200, including office lease ($2,000-$5,000), staff ($6,000-$8,300), technology ($300-$800), malpractice ($500-$1,000), and other expenses. This translates to annual overhead of $141,600-$290,400, or roughly 35-55% of revenue.

How much does concierge medical practice setup cost with consulting services?

Consulting services for concierge practice setup typically cost $5,000-$25,000 depending on scope. This includes business plan development, financial modeling, entity formation guidance, payer contract exit strategy, and marketing launch support. Many physicians skip consulting and make structural mistakes — wrong entity type, missed S-Corp election, undercapitalization — that cost far more over the life of the practice than the consulting fee.

What is the typical return on investment for a concierge medicine practice in the first year?

First-year ROI depends heavily on your starting point. Physicians converting an existing patient panel can reach profitability in 6-12 months, with 50-100% ROI on startup investment by year two. New practices building a panel from scratch typically break even in 12-18 months, with positive ROI by month 18-24. Joining an established network like MDVIP can accelerate this to 3-6 months.

Can a company offer concierge medicine as an employee benefit?

Yes, and it is one of the most tax-efficient executive benefits available. The employer deducts the cost under Section 162. When structured through a Section 105 Medical Expense Reimbursement Plan or HRA, the benefit is tax-free to employees and fully deductible to the employer. Companies like Amazon (One Medical), Apple, and Microsoft (Crossover Health) already offer corporate concierge health programs. Small employers can use a QSEHRA to reimburse concierge fees within annual limits.

Are concierge doctor fees tax deductible for patients?

The portion of a concierge fee allocable to actual medical services (annual physical, preventive screenings, specific visits) qualifies as a medical expense deduction under IRC Section 213. Access and convenience fees do not qualify. The deduction is subject to the 7.5% AGI floor and requires the taxpayer to itemize. Practices that issue detailed allocation statements make it easier for patients to claim legitimate deductions. Read our full guide: Are Concierge Medical Fees Tax Deductible?

Disclaimer: This article is for informational purposes only and does not constitute tax, legal, or financial advice. Tax situations vary — consult a qualified tax professional for advice specific to your circumstances.

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• Are Concierge Medical Fees Tax Deductible? What Patients and Physicians Need to Know
• How Much Does a Concierge Medical Practice Make in South Florida?
• Concierge Medicine vs Insurance-Based Practice: A Financial Comparison
• Tax Strategies for Concierge Physicians
• How Concierge Physicians Can Build Wealth Beyond Their Practice
• S-Corp Election: Is It Right for Your Florida Business?