Private practices were once the end goal for many physicians, but as of 2016, less than half of these professionals owned their own practice, making it the first time that physician ownership was in the minority.

This is likely due to the large amounts of student loan debt young doctors are finding themselves in, which makes it virtually impossible to open their own office.

Coworking spaces offer an option that provides physicians with an affordable, managed space that can help them reduce costs and eventually lead them down the path to owning a private practice.

By sharing common spaces, waiting rooms, and administrative staff, these spaces have much lower costs compared to a typical practice. 

Although physicians work multiple years to be a professional in their field, many are not equipped to run a business, which leads to many practices failing after a few years. Collaborative spaces take over the business side of things and allow doctors to do what they do best: take care of people.