I guess the relevance to this thread is that a full physical exam might reveal a condition that a basic "wellness" exam would not..
I agree with this in a lot of cases. It all depends on the ethics of the doctor. Some doctors do a reasonable history and physical exam during the wellness exam. In other cases the wellness exam is a joke with the patient filling out a questionnaire, and a nurse asking some questions and having you remember a few words and draw a clock, all with minimal attention by the doctor.
IMO, the wellness exam is a waste of Medicare dollars and should be replaced by the old fashioned physical exam. It would be better for the patient and less expensive for Medicare.
I will also point out that the wellness is not required by Medicare. I refused to undergo one in the past when I knew that a particular doctor's office knew how to make it a waste of time and Medicare money.