MedCoShare CEO Ronak Vyas joins the Invst Guru Podcast to discuss the rise of medical coworking, strategies for healthcare startups, and how MedCoShare is redefining what it takes to become an independent healthcare professional.
Transcript:
[Jeff:]
All right, Ronak, the red light just came on. A lot of people bail right now because they get nervous. How are you feeling? Do you want to go forward?
[Ronak:]
I’m feeling good. Let’s do it.
[Jeff:]
He’s going forward. All right, everybody, let’s jump into it. Tell my listeners who you are, what your company is, and what you do.
[Ronak:]
My name is Ronak Vyas. I’m the CEO and co-founder of MedCoShare. MedCoShare is a Philadelphia-based medical co-working space and services company. We started in 2020 and have expanded to four locations across three states, with plans to continue growing.
[Jeff:]
Let’s go back to 2020. What problem in healthcare made you want to start this company?
[Ronak:]
Before launching MedCoShare with a few partners, I was a commercial real estate broker representing tenants looking for medical space. I worked primarily with small practices, typically one or two doctors. In Philadelphia—and nationally—it’s extremely difficult to find a small amount of medical space, especially under 2,000 square feet and on a short-term basis.
Most landlords want long-term leases and require practices to lease more space than they actually need. That’s the opposite of what small practices want. We realized that if we could act as a middleman and bridge the gap between landlords and doctors, there was a strong business case.
On the landlord side, we’re willing to sign 10-year leases and take larger spaces. On the practice side, we offer a flexible membership model where doctors can rent month-to-month, one room or multiple rooms. It’s a cost-efficient and flexible way to start, grow, or open a satellite practice.
[Jeff:]
What’s the first step you take when entering a new building or market?
[Ronak:]
The first step is finding the right location. That’s critical because you can change many things in a business, but you can’t change the location without giving up the lease and losing money.
We evaluate whether patients in the area are underserved, what competitors exist, what hospitals and clinics are nearby, and patient demographics such as household income and insurance mix. Understanding the geography and choosing the right building is step one.
[Jeff:]
What does your business model look like day to day?
[Ronak:]
We’ve refined the model over the years. Doctors use a scheduling system to book time through our backend portal. Part-time members book sessions and are assigned rooms for specific days. Full-time members have 24/7 access.
Once schedules are set, our team is notified of who will be in each room and when. Front desk staff receive daily schedules and handle patient check-ins, assist with questions, and support doctors throughout the day. If doctors need anything—extra time, help with the space, or general support—we’re there.
[Jeff:]
You’re both a real estate company and an operational support company. How do you balance that?
[Ronak:]
It really is two businesses. One side is real estate and property management. The other is support services for private practices. Those services include marketing support, billing and scheduling assistance, and credentialing resources.
Our goal is to be a one-stop shop so private practices can start and grow with us easily.
[Jeff:]
Is there a specific type of doctor that benefits most from your model?
[Ronak:]
When we started, we assumed primary care would be the main user. Instead, we’ve seen strong demand from specialists and surgeons who use the space for pre- and post-op care or satellite locations. Some even use it for minor procedures.
We have a wide mix: dermatologists, ENTs, cardiologists, primary care physicians, and nurse practitioners. Some NPs focus on services like weight loss or Botox. Currently, we support 108 different practices across our four locations.
[Jeff:]
How do you handle equipment for so many specialties?
[Ronak:]
We provide turnkey rooms with the basics, such as an exam table and standard supplies suitable for primary care. Specialists often bring their own equipment. Full-time rooms are fully customizable, so members can remove our furniture and design the space to fit their needs.
The model is flexible by design. We provide the essentials while allowing customization for different specialties.
[Jeff:]
What misconceptions do you hear most often?
[Ronak:]
People often say it’s “WeWork for medical,” but that’s not accurate. We don’t have large open areas. It’s a healthcare-specific model focused on privacy and patient experience.
We’re essentially operating clinics, but with an elevated look and feel—more like a med spa. Patient comfort and privacy are the top priorities, and doctors need a professional, well-run environment.
[Jeff:]
What KPIs matter most to you?
[Ronak:]
Revenue and number of memberships are key. Occupancy matters too, but it needs to be balanced with pricing. Member retention is also critical because it shows whether the model works for doctors and their patients.
Those are the main metrics we track.
[Jeff:]
From your perspective, what’s the hardest part of running a private practice today?
[Ronak:]
It depends on location. In urban areas like Philadelphia, private practices compete with major hospital systems. That means heavier marketing and branding efforts to build patient awareness.
Hospitals often have long wait times for specialists, while private practices can offer more flexibility and availability. Both models have challenges. Hospital systems deal with burnout, while private practices lack large brand recognition.
[Jeff:]
What feedback are you hearing from doctors?
[Ronak:]
The feedback has been very positive. Doctors appreciate how quickly they can get started—often within 30 days. Medical co-working is still a newer concept, so there’s an education curve, but demand is strong.
Doctors frequently ask us to open locations in new markets and states. We’re very bullish on the model.
[Jeff:]
What does scaling nationwide look like?
[Ronak:]
Our goal is to be the first national medical co-working company, with at least 100 locations. We can get there through capital raises, partnerships with landlords using revenue-share models, or franchising. The strategy will depend largely on capital availability.
[Jeff:]
Who do you see as your competitors?
[Ronak:]
There are few direct competitors, but a lot of indirect competition. The biggest one is informal subleasing—doctors renting spare rooms from other practices. That’s been around forever.
Our challenge is convincing doctors that our model offers more value, flexibility, and support than subleasing.
[Jeff:]
How are you pitching this to investors?
[Ronak:]
We’ve crossed $1M in ARR and are cash-flow positive once locations stabilize. We’ve been operating for five years, so this isn’t a proof-of-concept stage. We’re targeting a strong return with a potential exit in three to five years.
We’re aware of acquisition paths, including private equity, and believe this is a strong time for investors to get involved.
[Jeff:]
What’s been the hardest leadership lesson for you?
[Ronak:]
As an entrepreneur, you constantly face problems you don’t have experience solving. Being CEO doesn’t mean you have all the answers, especially when resources are limited.
You learn as you go. If you’re willing to work hard, take risks, and approach problems logically, you can make progress.
[Jeff:]
Where do you see MedCoShare in five to ten years?
[Ronak:]
I believe we’ll be national. More physicians are burned out and looking for autonomy, and private practice will continue to grow.
Support services will also grow, and AI will make practices more efficient and reduce operating costs. Combined with flexible real estate, that will make private practice more attractive and sustainable.
[Jeff:]
Where can people learn more?
[Ronak:]
They can visit medcoshare.com and check out our active Wefunder campaign at wefunder.com/medcoshare.
[Jeff:]
Awesome. Thanks for taking the time, Ronak.
[Ronak:]
Thanks, Jeff. Take care.
EDITORS NOTE: This podcast episode can also be listened to here: https://www.youtube.com/watch?v=tYOngawaeyk
