There are a number of projects that physicians can pursue to earn additional income, while still maintaining patient care responsibilities. A number of these options can also provide a salary to replace full time clinical practice.
- Chart review – Also referred to as utilization review, this work is a common part time venture that can take from a few hours per month to several hours per day. A number of chart review companies are listed here.
- Medical legal work- This normally requires an active clinical appointment, and the hourly rate is often fairly generous. Physicians can sign up to be on the registry of The Expert Institute and SEAK
- Disability exams- While performing and documenting disability exams is patient based, it does not require on call duties, and thus is an attractive option for doctors who want to add extra hours without incurring additional follow up commitments.
- Concierge care - As with disability exams, concierge care is patient care, but with a somewhat different arrangement than usual. There are companies that help physicians with the logistical aspects of setting up a concierge practice and a physician explains how he used that type of service to integrated concierge care into his practice here.
- Consulting - This seemingly vague term encompasses two main routes for physicians.
- Some doctors work for medical consulting companies that require a full time commitment and significant travel. A number of these companies are listed here.
- Another option is becoming an independent consultant and providing seminars and advice for corporations. This physician is an example of that route.
- Physician advisor - This role is not generally a full time position. Many pharmaceutical companies and consulting companies need to interview physicians to better understand the landscape in terms or their products. These positions are generally temporary, require modest time commitment, and pay generously. The best way to pursue this avenue is through involvement in clinical trials or by networking with colleagues who direct clinical trials.
- Writing - Most doctors consider writing to be fairly tedious, but for those to whom writing comes naturally, it is an appealing source of revenue. In general, breaking into writing jobs takes dedication and time. Here are tips about self-publishing for physicians. And medical writing, another interesting route, requires some planning, as discussed here.
- Teaching- Working as an adjunct professor is among the most beloved part time pursuits for physicians because it offers a community of creative colleagues and a young, energetic university or Medical School environment. Generally, finding a teaching job requires networking within your local education community.
- Product affiliations- Doctors have varied degrees of involvement when it comes to product affiliations. Some physicians directly sell products in the office or on social media, and some endorse products or serve as a spokesperson. You can contact a leader who guides physicians through the process here and a physician who has built an expanded her team here.
- Investments- Investing in the stock market, in real estate or in start up companies can provide a revenue stream for doctors who already have a reasonable financial foundation and an interest in spending the time necessary to thoroughly vet potential growth opportunities.
- Franchise ownership- As with investing, franchise ownership is a route chosen by people of all backgrounds and professions. There are so many franchises in a variety of different areas, and some companies, such as this one, for example, help people sift through the options to select the best fit.