Doctors of today are sandwiched between the rising cost of acquiring their degree and the falling remuneration as medicine gets more corporatised with each passing year. We’re witnessing increased burnout and decreased satisfaction.
Enter the gig economy and the side hustle…
What’s a side hustle? It’s an income outside of your full-time employment. It’s not just for millennials in college, there are endless opportunities to partake in short-term, independent work for doctors too.
The extra cash can be used to pay down debt, boost your retirement fund or splurge on a holiday. More importantly than that, it gives diversification to your income.
Below is a list of side hustles you can pursue while continuing to keep your day job. This is by no means an exhaustive list, and I will be adding to it over time.
I’ve also included links to more info or examples. If you have other ideas, add them in the comments below.
You might also be interested in my other side hustles articles:
Does your side hustle have SPEED?
Side hustle tools and resources
7 questions to ask yourself before starting your side hustle
8 reasons why doctors should have a side hustle
Make thousands renting out your stuff
This post may contain affiliate links. Please read my disclaimer for more info.
Clinical Side Hustles
House Calls- Treating patients in their home can be very lucrative. You could see patients from your clinic or join a house call service that finds and books your appointments.
Telemedicine- Smartphones, tablets and data encryption now make it possible for doctors to treat patients across the globe, 24 hours a day. With healthcare subscription on the rise this is an ideal way to work from home when it suits you. Check out American Well, iSelectMD, and iCliniq.
Aged Care- with the baby boomers now transitioning into nursing homes, doctors are needed to fill roles as in-house physicians and facility medical directors.
Locum Tenens- take on a single shift or short term contract to boost your bank balance. Rates are often significantly higher than your contracted job. One of my psychiatry colleagues locums exclusively and works just 2 weeks a month in locations across the country. No boss. No politics. Travel and expenses covered. Check out Locum Tenans, Med Recruit and Locums Canada.
Medical Concierge- many patients want the VIP service and will pay to get priority medical care. Checkout Priority Private Care, Concierge Key Health and Signature MD.
Cruise Ship Doctor- if you’re planning some time away from the clinic then getting a free cruise while getting paid could be right for you. Take a look at Royal Caribbean and Pro Sea Staff.
Add Services to Your Clinic- adding new services such as pathology, radiology, cosmetic procedures or physical therapies can generate additional income streams by utilising unused space and referral income. Here are some other ideas to increase revenue.
Advisory & Consulting Side Hustles
Physician Executive- take on a clinical leadership roles in the pharmaceutical, biotech and medical technology space. Check out the American Association of Physician Leadership, Australasian College of Physician Executives and the Canadian Society of Physician Leaders.
Second Opinions- patients often want a second opinion about their diagnosis and treatment options. Renown institutions including Johns Hopkins and Stanford already have second opinion pathways. You can register to be a consultant with a company like Medonicx and Welby MD.
Expert Witness- you can make thousands of dollars a day sharing your expertise as an expert witness. Find work by connecting directly with law firms or listing your services on a site like Juris Pro and Experts Direct that lets lawyers know you’re available for hire.
Become a Headhunter- refer your colleagues to fill staffing shortages and get paid for the connection. Recruiters such as the Aureus Medical Group, Healthcare Australia and ID Medical will pay you handsomely for your referrals.
Coach Colleagues- if you feel you can help colleagues improve their professional and personal lives then coaching could be for you. Here are some doctors who coach doctors MD Work Life Balance, Kevin MD and Gail Gazelle.
Advisory Role In Your Institution- taking on a leadership or management role can give you an income boost and expand your ability to make changes for the better.
Education Side Hustles
University Lecturer- stand up and share your knowledge with medical, nursing and other health science students.
Tutor University Students- if you’re more comfortable in small groups, then tutoring small tutorial groups at university might suit you.
Tutor Exam Candidates- p
CPR and Resuscitation Instructor- get staff in local businesses, community groups and schools up to speed. Work for a training company or create your own educational clinic.
Create an Online Course- Udemy is a popular platform that allow you to create and sell courses online. They take care of all the cash handling and even promote the course for you. I created a LinkedIn Course for Doctors and every month money gets transferred into my Paypal account. On Udemy, courses are typically priced from $10 to $250 where you keep up 97% of the sales you generate.
Create a Youtube Channel- teach basic sciences or specialised knowledge and can get paid from sponsors and YouTube advertising. Check out Armando’s channel where he has attracted millions of views by explaining a range of medical topics.
Organise a Health Fair- arrange a bunch of great speakers, find some sponsors and rally a crowd. Checkout this article that explains how to plan a health fair.
Establish an Educational Clinic- create a program that solves a problem for your patients. Ideas include birthing classes, rehabilitation after joint replacement and dietary advice for diabetics.
Get Students Ready for Medical Entry Exams- 80,000 college students sit for the MCAT every year, with the hopes of gaining admission into a medical school of their choice.
Make Medical Podcasts- create your own podcast and be heard around the world. All you need is a computer, microphone and podcast host like Podbean.
Writing Side Hustles
Scientific Writing- use your knowledge to write for academic purposes like journals and research submissions.
Health Writing- translate medical knowledge into language that patients and consumers can understand.
Medical Writing- technical writing for clinician education and promotional material on behalf of drug and device companies.
Write a Book- publishing your book with Amazon Kindle Direct Publishing is free, takes less than 5 minutes and can appear in Kindle stores worldwide in under 48 hours.
Health & Wellness Blogging- Share your knowledge and insights. Establishing a blog is simple, and you can monetise it by directing patients to your practice, selling advertising space or affiliate marketing. Take a look at some of these doctor blogs.
Product Creation
Create a Medical Product- if the engineer in you has a unique solution to a common problem, it could be your ticket to early retirement. Find out more about medical devices.
Create a Mobile App- with the advent of easy-to-use mobile app creators
So there it is- a short list of medical side hustles. To inspire and encourage
