The Reason Private Practice Providers Thrive in Medical Coworking Spaces
The future of the private medical practice industry is treading towards medical coworking spaces. But what makes medical coworking better than the traditional office space? The answer lies in flexibility, networking opportunities, and saving time and money. Let’s explore why private healthcare providers thrive in medical coworking spaces.
Space Flexibility
Medical coworking office spaces are flexible compared to traditional office spaces. The medical coworking model allows physicians to pay for what they need and nothing else. The model also allows doctors to expand their space if they need to. Expanding your space is difficult in a traditional office setting.
Expanding a traditional space means that you have to find a larger space to rent out. Doctorly states that establishing an office space costs around $70,000 minimum. Furthermore, improvements to the space can cost between $15,000 and $50,000. However, with medical coworking, you can just rent more space. Using MedCoShare rates, you can save up to 68.6% on a medical office rental.
Expanding Presence
Connecting with others is crucial because of the medical industry’s nature. Large networks bring in more referrals and potential employees. Medscape research shows that an average of 72% of physicians report that patients come to their practice through word of mouth. Increasing referral rates is significant because of the revenue boost referrals provide. Medical coworking involves shared spaces directly connecting you to other healthcare providers. If you work with MedCoShare, you will join a built-in referral network that streamlines the referral process.
Saving Time and Money
Medical coworking can save you lots of money, but how can it save time? There are many expenses to handle in a traditional office setting. According to Mynd, building owners should expect to pay 6-8% of the rental income toward the management fee alone. Additionally, problems with the space can arise. Some problems include equipment malfunctions, water leaks, and electricity issues. Fixing any of these problems requires finding professionals to handle them. Finding people to handle these problems costs both time and money. But in a medical coworking setting, these problems are handled for you.
In summation, medical coworking allows private practice doctors to enjoy the benefits of private practice without the hassle. In short, medical coworking allows private practice doctors to thrive. Medical coworking provides a flexible space and network expansion. It also saves precious time and money. Are you looking for medical offices for rent in Houston? MedCoShare has opened a new location in Pearland where you can experience the benefits of medical coworking. Find out more at MedCoShare Texas.
Sources:
- http://doctorly.org/cost-vs-reward-of-opening-a-medical-private-practice/
- https://joinsymbiosis.com/top-benefits-of-starting-your-private-practice-in-a-medical-coworking-space/#:~:text=A%20medical%20coworking%20space%20runs,run%20as%20you%20see%20fit.
- https://medflexspaces.com/how-medical-coworking-space-can-save-you-money/
- https://www.lina.co/blog/benefits-of-a-shared-medical-office-space
- https://hitconsultant.net/2019/07/16/coworking-spaces-medical-practices/
- https://www.medscape.com/slideshow/2017-practice-management-report-6009086?uac=282985FN&faf=1&sso=true&impID=1454452&src=wnl_physrep_171011_mscpmrk_practicemgmt2017#3
- https://www.mynd.co/knowledge-center/average-and-hidden-maintenance-costs-for-a-rental-property
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