Top Benefits Of Starting Your Private Practice In A Medical Coworking Space

You’ve finished your education and your residency requirements.

License to Practice in hand, you’re ready to open your practice and make your mark on the world.

Or maybe you’ve been at work for a few years at your corporate healthcare job, and you’re starting to get tired of the long hours and constant stress.

Either way, you want to start your own private practice.

But there are so many things to consider.

Where should you set up shop?

Do you really know how to run an office?

Your schooling likely didn’t fully prepare you for this aspect the medical business.

As you ponder all of these questions, we invite you to consider our medical coworking space in Washington DC.

Although coworking spaces tend to be associated with tech start-ups and entrepreneurs, medical coworking spaces bring with them a wide array of benefits you may not have considered.

Keep reading as we have a look at some of the ways you can benefit from joining a medical coworking space.

What Is A Medical Coworking Space?

When you think of a coworking space, you’re likely picturing a number of entrepreneurs and business people who come together to share a larger office space.

Coworking spaces are a great solution for people who may not have the capital upfront to buy a space or sign a lease on their own.

It is also great for businesses that want greater flexibility in how they utilize a space, scaling up and down their footprint to meet their needs.

Finally, they’re great for people that won’t ever need a larger space but who still want to be able to hold meetings somewhere other than the spare bedroom in their home.

A medical coworking space runs on a similar premise.

You pool your resources to share the cost of amenities, utilities, and other necessary costs that will lead to reduced expenses, but your own practice is yours to run as you see fit.

Top Benefits Of A Medical Coworking Space

Maybe you’re thinking “this sounds great – I will be able to run my own practice without having to worry about lots of the small details”.

It gives you many of the advantages of starting your own clinic, and reduces many of the drawbacks.

If however, you’re still on the fence, here are some more benefits of joining a medical coworking space.

1. It Saves You Time

Running a standalone office means all of the maintenance responsibilities fall on your shoulders.

Leak in the bathroom? You’re stuck trying to find a plumber, or sending endless messages to your landlord to fix the leak.

Air conditioner breaks during the hottest summer heat wave? Now you need to arrange the HVAC technician to come and fix it, or have your landlord schedule HVAC technicians to come int during the busiest time of your day.

When you’re a part of a coworking space you don’t need to worry about these things.

Not to mention the day to day tasks associated with running your practice.

Booking appointments, clients who need to reschedule, or cancellations are all handled by the receptionist at the coworking space, leaving you with more time to see clients.

That means you don’t have to spend your time worrying about hiring, training, and retaining medical support staff – a medical coworking space like Symbiosis will take care of it for you.

But that’s not all.

Building your clinic takes time as well – and during a pandemic, everything takes longer.

That’s time you’re spending hemorrhaging money – paying rent, as well as paying your renovation crew – while your clinic isn’t making a dime in return.

And that only begins once you’ve actually signed your lease.

Between choosing your clinic location, finding a suitable space in that area, and negotiating and signing your commercial lease, you’re often looking at several months before you even begin renovating.

Starting your clinic in a medical coworking space allows you to avoid wasting all this time.

You can just get started.

2. It Gives You Greater Flexibility

If you’re new at your practice, you might not have enough patients yet to need to justify being open eight hours a day, 5 days a week.

This is one of the many hidden costs of building your own healthcare practice – maintaining your operation while waiting for your patient load to fill up.

Or maybe you just want to limit your hours so you can have an extra day off every week.

Using a coworking space means you get to work the days you want, and you only pay for the time you are using your space.

Conversely, if you’re starting to slow down as you near retirement you can begin to decrease the frequency you’re working as you work less.

3. It Gives You New Networking Options

Working in a medical coworking space gives you an unprecedented opportunity to meet and connect with other medical practitioners.

Networking with other healthcare providers can help you keep up to date on the latest practices and procedures, as well as giving and receiving referrals.

When you work in a medical coworking space, you’re working alongside other healthcare providers as well, many of whom can serve as great referral sources.

This is a benefit for you, as it can help you to grow your practice, and great for patients who are already familiar with your office location and dealing with the receptionist at the coworking space to handle their appointments.

4. It Lets You Grow Organically

As your practice grows, you may need to bring on an assistant or another doctor.

In a regular office, this may require expanding your space to accommodate extra people, or moving to another location entirely if the space isn’t there.

Think about the amount of time and headache it will take to get your realtors and lawyers to finalize a lease.

A medical coworking space, however, gives you room to expand your practice a lot more easily.

5. It Saves You Money

What’s holding you back from starting their own private practice?

For many healthcare providers, it’s finances, and it’s easy to understand why.

Running your own private practice comes with a lot of bills.

You have to take out a lease, purchase equipment, and hire administrative staff.

Not to mention all of the bills to keep the lights on, keep things clean, and keep you connected to the internet.

A medical coworking space takes care of most of these for you – you just have to worry about paying your monthly fees, and they will take care of the rest.

Questions? Ask Symbiosis!

Have we convinced you a medical coworking space is right for you?

Maybe you have a few more questions which we haven’t addressed here.

Either way, if you’re a medical practitioner getting ready to start your practice in the Washington DC area, we’re Symbiosis and we want to hear from you.

Contact us today to learn more about becoming part of our family.