The wealthy have access to a private doctor for $40,000 a year.

• Concierge medicine has been elevated to a new level with Private Medical leading the way in a new type of health care for the ultra-wealthy.
• Dr. Jordan Shlain founded a company that offers a highly personalized, all-in-one service similar to the most sophisticated family offices for investments.
• The increase in family office-style medical practices is due to the growing wealth of families worth $100 million or more and the rising demand for personalized, data-driven healthcare among aging billionaires and millionaires.

The original article was published in CNBC's Inside Wealth newsletter with Robert Frank, providing a weekly guide for high-net-worth investors and consumers. To receive future editions, subscribe and have them delivered directly to your email inbox.

Dr. Jordan Shlain describes his medical practice as a "family office for your health."

"Our goal is to preserve your health. After the age of 24, you become a depreciating asset health-wise. Therefore, we aim to slow down the decline of your health as much as possible."

Private Medical, founded by Shlain, is leading the way in a new type of healthcare for the wealthy that takes concierge medicine to a new level. The company offers a highly personalized, all-in-one service that is similar to the most sophisticated family offices for investments, rather than just on-call doctors and faster visits.

Private Medical offers a comprehensive health management service for wealthy families, similar to family offices. Their in-house team handles all aspects of a family's health portfolio, including fitness tracking, dietary management, longevity research, surgeries, and medical emergencies. They currently serve over 1,000 families and have offices in California, New York, and Miami, with plans to expand to other locations.

Private Medical's team of 135 healthcare professionals offers 24/7 on-call service, including home and office visits when necessary. The practice doesn't advertise and relies heavily on referrals. They refer to their patients as "members."

Shlain did not disclose the exact cost, but Private Medical charges $40,000 per adult patient and $25,000 per child under 18 for annual fees that cover office visits, tests, and procedures, but not hospitalization.

The increasing prevalence of family office-style medical practices, some of which charge up to $60,000 per year for membership, mirrors the rise in wealth among families worth $100 million or more and the growing demand for personalized, data-driven healthcare among an aging class of billionaires and millionaires.

Nearly $11 billion in revenue is predicted for the market of concierge and personalized medical services for the wealthy by 2032, with a growth rate of over 50%, according to Precedence Research.

Shlain claims that insurance companies, overwhelmed doctors, and inflated prices have transformed the healthcare system into a "sick care system." Private Medical, for those who can afford it, aims to be proactive, conducting regular tests and diagnostics on patients, staying up-to-date with new research and science, and obtaining detailed information about a patient's lifestyle, habits, family lives, and work lives, Shlain said.

Shlain, who had a father who was a laparoscopic surgeon and a mother with a Ph.D. in psychology, initially worked as a house call doctor for the Mandarin Oriental hotel in San Francisco. He learned about high-end hospitality from top hotel concierges and realized that healthcare should be more like a luxurious hotel experience rather than a cold, impersonal system of long wait times and incorrect diagnoses.

"I am a 70% doctor, 15% psychologist, 10% rabbi, and 1% friend," he stated. "I will have complete knowledge of you to assist you in making the best decisions in your life."

Shlain's job as a private medical practitioner is to safeguard his patients from the larger medical system, according to him. One of his patients, a 38-year-old entrepreneur and significant hospital donor, was admitted for a bowel obstruction. The hospital CEO and chief of surgery were eager to begin surgery immediately. However, Shlain opposed the idea and suggested waiting for a day or two. The patient recovered on his own while in the hospital and was discharged without undergoing surgery, as Shlain stated.

Shlain constructs customized medical kits for patients to use while traveling or working. One patient, who scratched his cornea while playing beach volleyball in the Bahamas, was able to treat his eye with a prescription from his medical kit rather than searching for a hospital on one of the nearby islands.

Access to specialized medical care is the primary advantage of Private Medical, as Shlain has cultivated connections with over 4,000 medical and scientific experts over the past 20 years.

Private Medical, with its roots in Silicon Valley and numerous tech clients, is also linked to biotech startups conducting groundbreaking research and exploring innovative treatments. Shlain stated that Private Medical performs due diligence on approximately four to five new companies each month to keep up with the rapidly evolving science and research.

Shlain collaborated with a new "precision psychiatric" team at Stanford that utilizes an MRI of the brain and connectomes to determine the most effective medication for treating a patient with severe depression.

He received the correct medication and is now improved, as Shlain stated.

Its platform, developed with top CEOs and entrepreneurs in Silicon Valley, enables doctors and patients to easily access data, manage appointments, and workflows.

Longevity and sleep are two significant areas of concern for Shlain's wealthy patients. While there is no magic bullet, diet, or medication to turn back the clock, the objective is to maintain physical and mental abilities for as long as possible with minimal interactions with the healthcare system.

"Your good outcome is our income," he said.

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