As private practices fall out of favor (and affordability) with millennial doctors, Clinicube's medical coworking provides a much cheaper solution and helps practicioners offer more personal care

The growing trend of coworking, made popular by WeWork, is oftentimes—if not strictly—associated with freelancers and two- or three-person startup teams. But what if the democratized workplace setting could work for other industries? Clinicube, a leading medical clinic in New York City, thinks it can, and the result could possibly disrupt the traditional private practice model across the board.

As generations of millennial doctors graduate into their full practice, they enter an industry that, like many others, is not what it used to be. In addition to a 2% cut in Medicare payments to doctors and healthcare providers, increasing insurance regulations are leading to diminishing reimbursement rates. If that's not already enough, it is also safe to assume that most millennial doctors own significantly more loans than their predecessors from multiple years of education.

Clinicube

As a result, private practices are dying. Instead of forcing these new doctors to give up dreams of running an independent practice, Clinicube's solution bridges the gap. The medical coworking space frees doctors from the financial burden of owning a business, while still allowing them to offer personalized care. In fact, freed from time-consuming administrative issues, these doctors are able to focus more of their attention on their patients.

Noam Sadovnik, the founder of Clinicube, believes that his space can change the way doctors work. “Starting a private practice can be a daunting task that requires heavy financial commitment. Some people end up in serious debt while other businesses just fold up,” he says in a press release emailed to PSFK. “Even worse, when having to deal with the stress from the financial side of the operation, many physicians neglect what matters most: the patients. And if you can’t form a bond with your patients, what’s the point of a private practice anyway?”

Clinicube just launched its second NYC location. Even more, the company partnered with Launchlift, a sports medicine clinic in boutique form that offers patients physical therapists and a full medical team, as Clinicube continues to flesh out its ecosystem of services. Ultimately, the clinic is striving to lower the costs involved in opening a private practice to help them provide their patients with optimal and more personal care.

Clinicube


Lead image: Clinicube

The growing trend of coworking, made popular by WeWork, is oftentimes—if not strictly—associated with freelancers and two- or three-person startup teams. But what if the democratized workplace setting could work for other industries? Clinicube, a leading medical clinic in New York City, thinks it can, and the result could possibly disrupt the traditional private practice model across the board.

As generations of millennial doctors graduate into their full practice, they enter an industry that, like many others, is not what it used to be. In addition to a 2% cut in Medicare payments to doctors and healthcare providers, increasing insurance regulations are leading to diminishing reimbursement rates. If that's not already enough, it is also safe to assume that most millennial doctors own significantly more loans than their predecessors from multiple years of education.