EBO MD acquires Cape Family Practice

EBO MD acquired Cape Family Practice this week in a move CEO Tony Thompson said could triple or quadruple EBO MD's practice.

EBO MD is a direct patient care service, meaning patients pay a monthly membership fee for access to primary health-care services instead of going through a traditional insurer.

Thompson said acquiring Cape Family Practice was a mutual decision between him and Cape Family Practice owner Dr. Anthony J. Keele because Cape Family Practice was one of the few practices in the area not owned by a hospital.

"In making the switch to EBO MD, we'll be able to offer lower-cost access to health care," Keele said in a news release.

Thompson said direct patient care services offer dramatic savings by removing "as much as possible of the insurance game."

The model is colloquially called "concierge medicine," although Thompson said the term mis-characterizes his practice by implying limited services and prohibitive cost.

"Most of the time, [so-called concierge doctors] charge much more for a monthly rate and don't offer as much [in services]," Thompson said. "I want to make health care affordable for everyone."

Toward that end, Thompson said bringing Cape Family Practice into the EBO MD system will mean significant savings for patients by reducing doctor workload, using EBO's lab and office services to handle testing needs and offering prescriptions at lower cost.

He said patients who become members can expect "about 40 to 60 percent savings out of their own pocket immediately."

Thompson pointed out EBO MD is not the same as insurance.

"We always, in capital letters, always recommend a catastrophic (insurance) plan," Thompson said, but added direct patient care services can be more efficient for addressing day-to-day medical needs than conventional health-insurance models.

"If we expected our car insurance to take care of oil changes and fixing wiper blades, our car insurance would be just as expensive (as health insurance)," he said. "If you look at where we're at now with the average cost of health care, you have to travel up to 100 miles or more to find more affordable options for both employers and families. The current system is not sustainable for either."

EBO MD began hiring health-care providers by acquiring Michael Wulfers' practice in May 2016.

"I want to give him credit," Thompson said, "acknowledge him for starting the movement in Cape Girardeau. EBO MD came about with the acquisition of Dr. Wulfers' practice."

Thompson said it is not clear how many of Cape Family Practice's more than 6,000 patients will become EBO MD members.

"I think the safe thing to say is that we project [the acquisition] has the potential to triple or quadruple the (EBO MD) practice," Thompson said. "We're pushing about 600 members right now, and have quite a few groups, employer groups, coming on board between now and the end of the year."

Thompson said the Cape Family Practice acquisition puts EBO MD among the largest DPC services in the country.

Current Cape Family Practice patient medical records will remain at the clinic at 1417 N. Mount Auburn Road, according to a news release from EBO MD.

tgraef@semissourian.com

(573) 388-3627