Escaping Physician Burnout: Transitioning from Healthcare Systems to Private Practice

Physician burnout is an issue that affects medical professionals on a global scale. The US Department of Health and Human Services states that medical workers are at an increased risk for mental health challenges as they continue to “leave the health workforce early”. In fact, the problem is of such magnitude that Surgeon General, Doctor Murthy, released an advisory on Health Worker Burnout, noting that there is far more demand in physicians than there is in supply. We’ll be in need of an average of 96,500 physicians–mainly in primary care and less urban areas. While this is an issue for many reasons, one of the main causes of burnout can be attributed to a growing frustration with the bureaucracy of large health systems. A survey conducted by Tebra concluded that 53% of hospital system employees in the office feel burned out. Burnout is only growing, but there are solutions: one being, entering the private practice space through medical coworking. 

Beating Burnout

A potential solution to burnout is transitioning to private practice. According to the JABFM, private practice physicians reported a burnout rate of only 13.5%. This low burnout rate is due to a long list of advantages that private practice offers including benefits such as autonomy and personalized care for patients. However, transitioning to private medical practice is very costly and can be challenging. There are costs for office leases, hiring workers, marketing, furnishing, and more. So how do you reap the benefits while minimizing the costs? There is in fact a way to pay for a medical office lease without breaking the bank. 

A Solution from the Future: Medical Coworking

Medical coworking is a new and growing field; MedCoShare is on the forefront of this innovative space, as the largest healthcare coworking company in New Jersey and Pennsylvania. (We’ve also just opened a new space in Houston, Texas!

What is Medical Coworking? 

Medical coworking companies like MedCoshare offer a shared space where independent healthcare workers can grow their own practice at an affordable cost–all with full access to support services from digital marketing and search engine optimization to hiring medical assistants and scheduling staff. To learn more about the wide range of benefits of medical coworking, read our blog post here. 

How Medical Coworking Helps Private Physicians Save

Opening a private practice is incredibly expensive and having to upfront the costs doesn’t make it any easier. You need to pay rent for your office space, equipment, administrative support, furniture, and much more. According to Mentalyc, essentials like administrative support can cost at least $30,000 annually. However, in medical coworking, a practitioner will rent a space in a medical coworking facility, fully-furnished, equipped with everything the practitioner needs, and has a built-in referral network. This allows medical workers to focus on patient care without worrying about the typical expenses and operations of a business. According to Coworker, switching to coworking spaces can cut costs by 25%. It’s a shared medical office space for rent without the trouble that leases bring, and administration is handled for you. MedCoShare offers medical office spaces for rent that uplift independent healthcare providers to practice their way. More autonomy, better patient experience, and no more burnout. Furthermore, you don’t even have to worry about marketing your practice–as we offer digital marketing services too. To learn more about what we can do to help your practice thrive, check out our marketing work through MCS Services. 

The Future of Healthcare Workspaces

Medical coworking has clear advantages for practitioners looking to go solo, and it most certainly can help alleviate a sense of burnout. It offers an easy, affordable process to creating a private practice. It removes the hassle of signing leases, administrative work, and maintaining office spaces. If you are in the Houston area looking to start your own private practice, MedCoShare has opened a new location just 20 minutes from the Texas Medical Center in Pearland, Texas. We have offices for rent in Houston where you can experience the future that is medical coworking. You can learn more at https://medcoshare.com/texas/.

Sources:

Date: May 29, 2024

Tags:

Categorised in:

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