As health becomes an increasing priority for the affluent, traditional family offices often find themselves lacking the specialized expertise, networks, and experience necessary to navigate the complexities of healthcare. This expertise is crucial due to the significant asymmetry of information within the healthcare sector. Consequently, there are growing incentives for intermediaries to collaborate with expert medical family offices.
It is no surprise that health has ascended to the forefront of concerns for global families, especially as the world emerges from the first pandemic in a century. This was a prominent finding in the 2021
THE OFFERINGS OF A MEDICAL FAMILY OFFICE
A medical family office serves as the primary resource for all medical inquiries for affluent families. This innovative approach is dedicated entirely to a family’s health, free from conflicts of interest. The services provided are designed to safeguard an individual’s health globally and are typically offered on an annual membership basis, encompassing five key health planning pillars:
Privileged Healthcare:
Providing access to top medical experts through a network of vetted professionals. This includes navigating the healthcare system to ensure the best possible experience and health outcomes. Expert advice helps to avoid unnecessary risks and treatments driven by a system focused primarily on illness.
International Private Medical Insurance:
Selecting the appropriate health insurance is an investment in future wellbeing and health security. Suitable policies offer lifetime coverage, regardless of age or future residence, with worldwide medical and accident coverage, and freedom to choose doctors and hospitals.
Medical Records Management:
Offering secure, centralized storage and management of comprehensive medical records with rapid global access. This is vital in emergencies. Additionally, records management services review and summarize an individual’s complete medical history, highlighting critical information, including family history.
Preventive Medicine:
Tailoring medical check-ups to a person’s lifestyle, age, pre-existing conditions, and medical history to prevent health issues. This personalized approach avoids the inefficiencies and costs of generic ‘one-size-fits-all’ health screenings.
Patient Guardianship:
Establishing professional healthcare directives to ensure a qualified medical specialist is available when someone can no longer make decisions for themselves. Properly structured patient guardianship relieves family members of the burden of making crucial life decisions.
Companies like the Harley Club (part of Harley Street Healthcare Group) have gone above and beyond to meet the health & wellness needs of their customers while also supporting the business and personal development requirements of their members. By proactively managing people’s health and wellbeing globally, the company is pioneering innovative solutions that delivers verifiable results linked to specific KPIs.
The integrated approach by bringing together the best of modern medicine, state-of-the-art technological innovations wrapped around the resourcefulness of ancient healing systems, the Harley Club clinical team is aiming to widen its continuity of care.
Harley Street healthcare group (HSHG) has identified this as a high growth sector, and to better serve global customers, the group is partnering with wealth management firms like the Balfour Capital Group and others.
Globally, only a few companies have distinguished themselves as medical family offices. With extensive experience, these organizations have developed professional methodologies to assist individuals at every stage of life in planning and managing their health.
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