CityMD founder Richard Park wanted to open up an urgent care location in the Jackson Heights neighborhood of Queens, but knew it would be a tough sell.
In the end, CityMD lost more than $5 million, Park told Business Insider.
Even so, the experience led CityMD to open more sites in lower-income areas of New York, and the Jackson Heights location is still open today.
Richard Park knew it was going to be a tough sell.
Park, the CEO of CityMD, wanted to set up an urgent care site in Jackson Heights, an ethnically diverse neighborhood in Queens not far from where he grew up. The idea would be to have a less-expensive alternative to the emergency room where a mother with two kids under the weather could go.
Park didn’t have any Medicaid contracts lined up — and he let his board know that he expected to lose money opening the clinic. But his employees were excited: many were from the neighborhood and didn’t have access to CityMD clinics without traveling far to other parts of New York City.
“It doesn’t make sense when people don’t get basic care,” Park said. The clinic opened in 2014.
It was a big …read more
Source:: Businessinsider – Finance