Uncovering a market need often results in groundbreaking ideas. For Greg Goldmacher, MBA ’15, and Ronak Vyas, MBA ’15, the need they found was in the healthcare real estate sector.
“I saw the struggles that doctors go through and the trends in healthcare—all of the consolidations, leading to not only private practices being bought up, but also dissatisfaction amongst the doctors and then with patients themselves,” says Vyas. “That was the main impetus for creating MedCoShare.”
MedCoShare is a coworking space—much like Regus—for outpatient healthcare offices. It’s based on the idea of shared space and resources. When Vyas floated the idea of the space to former classmate Goldmacher, the two began an entrepreneurial journey that resulted in the opening of a Fishtown location earlier this year.
“If you, as a healthcare provider, want to practice independently rather than as part of a big group and you want flexibility in your practice, until now, there really hasn’t been an easy way to find it,” says Goldmacher. “MedCoShare gives healthcare providers a place to practice on their own schedule, on their own terms.”
While the COVID-19 pandemic complicated certain operational aspects of getting the business off the ground, patients still need to visit doctor’s offices. And with options like telemedicine growing in popularity, the viability of a part-time home base for healthcare providers has become even more attractive.
“In some ways, COVID has actually created a great need for our service, because people are hesitant to commit to a long-term venture that has major upfront costs, like a new independent practice,” says Goldmacher. “This is something that actually allows healthcare providers to try it out, see how their practice works in a certain location and scale it up and down as they need. It also allows providers who want to practice part-time for either professional or family reasons to do so on their own terms.”
Both men honed their skillsets within the part-time MBA program at Fox. In addition to teaching the foundational knowledge and discipline needed for a successful career in business, the Fox School instilled an entrepreneurial mindset which has helped them seek out ways to provide services in an underdeveloped market and to build a team of collaborators with a variety of skills.
At this stage, Vyas, Goldmacher and their team are looking to establish new partnerships and find investors to help them grow. They are currently working on opening two additional MedCoShare locations in the city.
“We’re also looking to form an advisory board,” says Vyas. “We have a strong team, but we don’t know everything. We would like to recruit people who can help us both with their knowledge and their connections. With large scale projects like this, you can’t do it just on your own. You need a lot of team support.”
Specifically, the MedCoShare team is looking to recruit experts in marketing to promote growth in the short term, and in technology start-ups to help them shape the future of the company.
“Temple alumni who have gotten involved in either marketing professionally or have experience in working for technology startups and technology development would be most welcome,” says Goldmacher. To learn more about MedCoShare, including how you can get involved, visit their website.