Bing Yeo, managing director, Doctors Express Urgent Care
Bing Yeo
| Bing Yeo has years of experience owning and running franchises, and helping other business owners run their companies more effectively. He also isn’t afraid to try new things. Yeo, a 44-year-old Southborough resident, broke into the health care industry when he opened his first urgent care franchise, Doctors Express Urgent Care, on Route 9 in Natick in 2012. Then in December, Yeo expanded with a second location on Boston Post Road in Marlborough and plans more local growth in the near future. In a recent interview, he explained why running an urgent care center with no prior health care experience can be an advantage — as well as a challenge — and where urgent care fits into the health care provider mix in 2015. |
You started out as a franchisee of men’s hair salons in Massachusetts, which you’re still involved in. What have you learned about running this type of business?
People think (that) with a franchise, they kind of give you everything. In some ways that’s true, you’re given a recipe. Even though we might be given the same recipe, what we end up with can be very different, taste-wise and presentation-wise. A franchise is the same way. I’m not a health care guy … I needed the recipe book to sort of combine with my business knowledge to make it successful.
I think a lot of the time, (when) I see other franchisees … not as successful, a lot of it has to do with not trusting that recipe. But sometimes you have to deviate; I think that’s where your business savvy and knowledge come in.
How has not having a health care background shaped your approach with Doctors Express?
Any time you’re not familiar with (an) industry, I think it can be challenging. I’ve never been in a business where … I depend on somebody else (the insurer) to pay me. You may be completely satisfied, but I might not get paid for whatever reason because the third-party insurance system works a little differently. So that side of it I had to learn … The first six months in Natick … I just kind of immersed myself in the business.
That said, I also think that not being from (the health care field) gives me a fresher perspective from a patient’s standpoint. I put my office … right next to the front desk, because I want to see those interactions (between the staff and patients).
You see about 80 patients a day in Natick, and Marlborough is quickly ramping up as you eye future locations in the area. Why is this model of health care delivery becoming popular?
Everybody’s pressed for time. Often, people can’t afford to leave work to go see a doctor. That’s why a concept like this works, because we have extended hours; we’re open seven days a week. I think we’re just offering more … convenient access for people in health care. So when they’re sick, they don’t have to postpone going to the doctor.
Do you see yourself as competition for physician practices and other providers?
For the longest time, the demand has outpaced the supply in terms of health care and that problem is going to continue to worsen. There’s a shortage of primary care and that shortage is going to continue. So we fill the need for those people whose primary care office may not have urgent care. And this is just convenience.
You’re planning to open another location in Framingham in the next year or so, as other health care companies join the urgent care business. When will the market reach saturation here?
I think in two to three years, we’ll get there … Some of our competitors, even hospital systems, are getting into it. Partners Health Care announced they’re opening up their own urgent care business. But it’s hard to know (exactly) when saturation (will occur here). If you go to Florida or Texas, or even out west, you see urgent care everywhere.
Why has it lagged here?
Years ago, urgent care actually existed in the state, but then since the health care system (began to shift) to the managed health care model, they all just disappeared. Because urgent care used to be all cash-pay and the insurance environment wasn’t really friendly toward (urgent care centers). Now this has all changed, because we are five to six times cheaper than going to the ER.
This interview was conducted and edited for length.
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