The Future of Private Practice: 3 Trends You Need to Know 

Although many providers seem to be leaving private practices for larger health systems, private practices through medical coworking spaces continue to grow. In fact, according to MediCoReach, medical coworking is growing at an annual rate of 20%. Furthermore, a survey by Software Advice notes that for patients who have a preference between independent private practices and corporate healthcare, approximately 1 in 3 patients preferred independent private practices. Why is this, you might ask? The benefits of medical coworking are unmatched. Apart from not having to deal with restrictive leases, hiring support staff, and marketing your practice, medical coworking spaces like MedCoShare empower doctors to practice their way on their own schedule.  

With medical coworking growing at such a speedy rate, private practice has also become more innovative. Here are the main trends in the private medical practice space today:  

1. The Hybrid Revolution

It’s no surprise that after the COVID-19 pandemic patients are now expecting the convenience of virtual visits, but the most optimal working model for physicans and patients alike.  According to the National Library of Medicine, nearly half of all physicians responing to a survey by the American Medical Association said 1 in 5 of their patient appointments were telehealth visits. Furthermore, a survey by Software Advice notes that practices using hybrid models saw a 39% increase in revenue and saw a 61% increase in patients. Flexible working models like these can be made easy by working in medical coworking spaces, as they allow for physicians to truly customize their schedule. At MedCoShare, some of our providers utilize the hybrid structure for patients who may prefer a mix of discretion through telemedicine while maintaining the continuity of care and focused attention that typically comes from in-person treatment. Embracing hybrid working models allows private practitioners to reach a broader patient base, improve access to care, and enhance patient satisfaction. 

2. Patient-Centric Approach

Projections from a survey by SoftWare advice suggest that nearly 80% of patients are drawn to private medical practices due to the more personal relationship they can have with their doctor, with more than half of patients noting that the quality of care was better than in corporate health systems. Thus, tailoring your approach to patients is key—this can look like making your end-to-end scheduling flow user-friendly from point of contact to booking an appointment. Coworking spaces like MedCoShare, for example, offer a multitude of services that support private practitioners create a patient-friendly environment in our locations—from cutting-edge EHR and seamless RCM to trained and vetted medical assistants, billing and scheduling assistants, and practice managers.  

3. Content is King

A report from SWEOR found that 3 out of 4 users make judgements on a company’s credibility based on site design. Furthermore, according to Medical GPS, nearly 90% of Americans use social media for health information and searches. Digital marketing for doctors is here to stay and only growing. Investing time into building out a robust website with user-friendly design and building out content on social media can generate 3 times as many leads as outbound marketing and costs 62% less as noted by Semetrical. At MedCoshare, with MCS Services, we offer digital marketing services including search engine optimized website design and content creation like short-form videos, blogs, and infographics to get private practice doctors one step ahead of the game.  

In conclusion, the future of private practice is brighter than ever with the rise of medical coworking spaces. By embracing newer trends in the space and staying informed, private practice physicians can position themselves for success and focus on providing high-quality care. To learn more about how to grow your private practice, schedule a free consultation with us: https://calendly.com/mcsservices/30-minute-complimentary-mcs-services-consultati-clone?back=1&month=2024-03 

Sources:  

  1. https://www.medicoreach.com/a-new-wave-of-shared-workspace-medical-co-working/ 
  1. https://www.softwareadvice.com/resources/independent-corporate-healthcare/ 
  1. https://www.sweor.com/firstimpressions 
  1. https://blog.medicalgps.com/social-media-and-healthcare-10-insightful-statistics/ 
  1. https://www.semetrical.com/content-marketing-statistics/#:~:text=Content%20marketing%20generates%203x%20the,generate%20the%20highest%20ROI%20possible 
  1. https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10364039/#:~:text=About%20half%20physicians%20(46.8%25),also%20do%20them%20at%20home. 
  1. https://www.softwareadvice.com/resources/hybrid-medical-offices/ 

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Date: March 22, 2024

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What Our Providers Have To Say...

Joining MedcoShare has been a true dream for a first time business owner like myself. Having the peace of mind of a consistent overhead month to month, while also having the freedom to sign up for as much or as little time as I need, has provided a wonderful combination of flexibility and simplicity.

- Andrew Gross, DC | Gross Sports Chiropractic

The facilities at MedCoShare are clean, professional, and what you would expect from a high-quality medical office. My patients agree, commenting frequently on how nice the office space is. I have had the opportunity to interact with many members of the MedCoShare team... They will do what they can to help your practice grow and minimize the headaches of leasing medical office space.

- Dr. Kavalek | Co-owner/Co-founder of Blue Ocean Health Direct Primary Care clinic

Overall, if you're a physician interested in starting or growing your practice, I highly recommend MedCoShare. They take care of the administrative tasks, offer flexibility in office hours, and have a supportive and responsive staff. They have truly been instrumental in my journey, and I'm confident they will be for you too.

- Dr. Michaela Mocanu, MD | Hypertension and Kidney Health LLC

We joined MedCoShare about a year ago and I can say with great confidence that's it's been a great experience for us so far. It's been exciting to enter the Philadelphia market. Patient feedback has been positive. There's an easy check-in process, wait times have been minimal to non-existent, and the lobby has a medspa type of vibe. We look forward to growing with MedCoShare.

- Nick Anziedo | Physician

The MedCoShare team has been very responsive and easy to work with when my schedule changes.  When my clients arrive, they feel safe, comfortable, and the aesthetics have an excellent image for my business.  I don't have to worry about maintaining the facilities and can focus on my equipment and patients.

- Marybell Rodriguez

Being a new small business owner in the midst of a pandemic, MedCoShare has been a blessing.  Where else could I start a business, build clients, and have a flexible membership with no long-term commitments for peace of mind during the uncertainty?!  If business speeds up or slows down then I can adjust my membership accordingly.

- Marybell Rodriguez