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
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« The Benefits of a Medical Coworking Space MedCoShare Podcast: Marybell Rodriguez »Date: March 22, 2024
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