The coworking model started in San Francisco in 2005. Even though office sharing was an established business model well before that, the real concept of people working together, benefiting from each others’ experience, input, and business referrals, was codified as a business model during this time. This coworking model allowed for more people to stay independent, and yet benefit from a larger community where they can grow and thrive.
Medical practices can also benefit from the physician coworking model. As physicians, we are unfortunately faced with seemingly insurmountable startup and operational challenges that force our graduating and resident physicians to opt for employed models of care delivery. This decision is not one driven by an abundance of choices and a level playing field. On the contrary, it is one driven from lack of education in the business of healthcare and lack of access to resources to make independent practice tangible.
The medical coworking model we have created at Cowork Medical, makes retaining autonomy and staying in independent practice (private practice) suddenly more feasible. At the same time we are bringing together like-minded clinicians who want to spend more time with their patients and less time stressing over cost and administrative burdens. The beauty of this model is that all this can be done without the implied isolation in a doctor’s office that is inherent in today’s practice environment. Within this space, there will be a community of independent physicians that can help advise, share, and nurture each others’ intellectual and practice growth. In addition, member physicians form an ad hoc referral network with each other, further fostering mutual success.
Newly minted doctors can utilize the physician coworking model at Cowork Medical as a practice “incubator” that allows for a low-cost, high-resource means of starting and establishing their private medical practice. For the physicians already in practices and looking to grow, the benefits from the Cowork model provides less risk and minimal expense and burden. Lastly, with our advancement in technology, our Cowork App allows physicians to take full advantage of flexibility in scheduling and utilization of the Cowork space.