9 Best Side Income Ideas For Doctors (2021)
Find out 9 Best Side Income Ideas For Doctor’s Below!
Table Of Contents
Burnout is one of the main issues in today’s society, and it’s easy to see why once you consider how stressful and frantic each day can be. Burnout means total exhaustion – both physical and emotional – that keeps you from performing properly (or even at all). Doctors are among the most affected.
An alarming amount of physicians report feeling burnout at the end of their workday, and this could occur even before it’s finished. The reports have been increasing noticeably each year as well.
It should be obvious how this can be problematic, especially when it’s affecting such a vital industry like healthcare. That’s also the reason why doctors are among the people looking for a side job to gain some extra money without exhausting themselves as heavily.
That’s our focus for today: explain 9 ways you can make money on the side while keeping your mind clear and focused on life’s most important matters.
This will be our first business option for you, and it’s because of how it’s among the best starting points for anyone interested in making money online. This industry has been increasing a lot every year, and it’s currently worth billions of dollars.
Affiliate marketing isn’t a difficult venture either. You just need to find an affiliate program for a product you’re interested in. You receive your own link to direct people to it, and you usually do it by creating content and promoting the product in it. Every time someone coming from your affiliate link buys the product, you earn a commission.
The best way to promote your products is by providing insight into life’s common problems. You can talk about issues that your product solves and promote it among your tips. Because of your profession, being a doctor means you have unique insight into people’s struggles and needs, and that gives you a significant edge over your competitors.
If you’re out of ideas for what products you can promote, many medical supply firms have affiliate programs of their own. Medsitis Medical Supplies is a good example, and since lots of people need supplies for themselves, you can fill that need and make money from it.
About Medsitis, it’s a 20-year old online company; this matters because it’s a lot easier to work with reputable companies that people (and you) can trust. Their catalog includes many medical supplies, and none is too expensive. Add quick deliveries to that, and you have an attractive product to offer to your audience for a great 10% commission rate.
Starting your own affiliate marketing costs very little; it goes both for investment capital and knowledge. It’s a very flexible venture; you can schedule your workday, and you don’t have to provide any type of customer support for your products. While it does require work and patience when starting, your website and content will keep generating money for you once it’s up and running – even if you don’t check on it for days.
Income levels aren’t guaranteed; this is mostly because you’re not in charge over the affiliate program and its conditions. It’s also very competitive – some niches more than others – and you can’t really establish a customer base of your own.
Your own observations can help you immensely when thinking about what niche you can tackle for your affiliate marketing. However, there are many tools you can use to complement this knowledge, like Google Trends, so make sure to use them.
Don’t just skim through your agreement with any affiliate program. It’s a contract like any other, so you want to know everything you’re committing to and what you should expect from your employer.
You don’t need to tie yourself to a single product. If you can offer different products – both expensive and affordable – you can reach a larger audience and make more money by appealing to different people.
Affiliate marketing is a business that you need to learn. You can find many free resources if you’re willing to invest lots of time researching. If you have the money to invest and wish to save time, you should consider investing in a good course like the Authority Site System or Savage Affiliates to learn a lot faster and from reputable sources.
This is among the best side jobs for doctors. Expert medical witnesses testifying for different trials are on huge demand, and that always mean money to be made.
There’s a good reason for it as well; a significant amount of attorneys have reported that a majority of their cases have required experts in this field, and it makes clear sense. Your expertise is all you need to fill this need.
If you’re interested in trying it out, an excellent option is Seak; it’s a directory for expert witnesses. Not only do they connect experts depending on their fields with the people needing them, but they also train them.
The money is good, and since there are various cases – usually simultaneously as well – you have several chances to make money. Besides, you might have the chance to travel depending on where the cases are taking place and whether or not your presence is required.
Preparing your feedback can take a lot of time. You’ll also be pressured toward certain bias, so you need strong principles, and that can take an emotional toll on you if you’re not mindful of it.
Establish which cases you prefer to work with. Not only do you need to feel comfortable, but your knowledge must also be enough for it. Once identified, set up an upfront retainer when you accept the offer.
Research how much you can charge. More experienced professionals can make more, and the same goes for the more demanded areas. As a good rule of thumb, don’t charge less than the money you make every day.
All agreements detailing requirements and expectations must be written so that anything can be verified. The same goes for including cancellation policies.
Amazon is responsible for most eCommerce sales right now, so it’s definitely profitable for you if you can take advantage of their reach. Luckily, the Fulfillment by Amazon program enables you to do that.
It’s simple. You just need to ship your products to an Amazon warehouse, and once you start receiving orders, they’ll take care of all packaging, shipping, and customer support involved in fulfilling orders.
The amount of traffic going through Amazon is nothing to scoff at, and many sellers experience up to 50% increases in their sales numbers.
The best place to start is research. You can check which medical sellers are among the top of their category as well as what they’re selling. Start gathering ideas on what sells well and what has less competition to find the sweet spot in-between.
It’s saves you a lot of time. Your customers benefit from fast delivery, free shipping, 24/7 customer support, and even Amazon prime. You get to benefit from Amazon’s brand and their storage facilities.
Amazon charges a fee for the service. Their returns policy is also flexible, so returns are more likely. Therefore, keeping track of your inventory is more difficult, and you have less control over the entire process.
FBA fees depend on how many products you store, their size, and how long they remain stored. Luckily, Amazon offers a fee calculator that you can use to set your prices after assessing your expenses and income. You don’t have a minimum sales amount to meet, either.
If this option interests you, you should definitely consider getting a course on Amazon FBA. There are many available at great prices; just make sure to read reviews before choosing one.
Meetings and other events are becoming an industry on their own right, and it’s only projected to keep growing. Some of the most popular topics for public talks include health and fitness, diet, lifestyle, and certain diseases – exactly what you’ve studied.
Specific diets are usually among the top search queries on Google, so there’s definitely demand for it. Besides, your experience and career make you more than qualified and trustworthy.
You can set your schedule by yourself. Not only the money is good, but you can also travel depending on which events you attend; you can also work on your personal brand and networking to open up more doors in the future.
It can be stressful; you not only need to prepare new material often, but you also need to deliver it to lots of people at a time. Preparing all of this can take a lot of time.
You might want to start without charging fees. Your first goal should be to improve yourself and build referrals. Improving means tempting your comfort zone, but it’s far from speaking about subjects in which you have no experience; expertise is highly rewarded.
Despite having a title and a career, make sure you include facts and statistics on your presentation to back up your claims.
This is very similar to Amazon FBA in that you’ll be leveraging their huge customer base. This time, you’ll be using a platform that’s responsible for most eBook sales right now.
You can self-publish your own digital books on Amazon Kindle, and you’ll always be the owner of your work. As with FBA, you want to assess the market before diving in; find which topics are currently selling well within your field (or even outside of it as long as you know about it) and get to work.
It’s a faster entrance to the market, so you might make money quicker than other methods. You’re in control of your work, and it’s very flexible since you can offer both print and digital formats, it’s not hard to learn, and you can offer quality within a more comfortable format.
You’re restricted to only having your book on Amazon for a while. Some people don’t really like eBooks, and when added to the size of your competition, it can take a while before you start making sales.
Learn Amazon’s guidelines for eBook formatting before starting to work. When it comes to publishing, don’t cut corners on your book cover; paying a designer for a professional-looking cover can go a long way.
All books come with a preview so that people can decide whether or not it’s what they’re looking for. Therefore, your book opening has to be strong.
Medication file reviewing
The name refers to reviewing patients along with their illness and treatment. The objective is to determine how said treatment performs.
Given the size of the pharmaceutical market, there’s definitely money to be made there. Being a doctor already gives you an edge over most people if you’re interested in trying it out.
You’ll want to partner with a company and provide reviews for their medications. A great place to start is Pfizer.
It’s a surprisingly flexible job, and – even more surprising – it’s not all that difficult. Besides, the workflow is fairly consistent given the size of many companies.
Consistency doesn’t always mean abundance, and the work might get repetitive after a while.
Your payment depends on how many questions you’ll have to answer. Not all templates have the same size. Besides templates, you might also have to speak to other physicians, so make sure to keep a professional approach even if the other person isn’t as polite.
Let’s be honest: when people feel “off”, they first go to Google before checking in with their doctor. However, this also means extra money for doctors – precisely from this people. You can become an online doctor and treat people anywhere around the world, without anyone having to leave their homes.
Google amounts to dozens of thousands of health-related queries every minute. You read that right: minute. Therefore, you can make some serious money if you set up your own website – or even partner with a company like American Well.
You can run appointments with your patients through different means as well: video, email, phone calls or messaging, and more.
The income is great, not too different from your regular job. It’s also very flexible; you can schedule your patients just like you would regularly, but you can check on them from your home. You don’t even need to buy any special equipment or software; you likely already have all you need.
Depending on your location, there might be special regulations and restrictions on telemedicine. Not having your patients physically with you is obviously less effective. Poor internet can make things harder.
Learn all regulations relevant to telemedicine where you live before even joining a company or setting up a website. Cover your back; ask your malpractice provider whether or not telemedicine is also covered.
Completing medical surveys
This option lets you make some extra money for yourself while you still help your field progress. Providing feedback – more valuable than most, considering you’re a doctor – then you could play a vital role in developing new medications and treatments.
Medical research has improved a lot this last decade in terms of capital investment, and it’s likely only going to grow with everything that’s occurring right now. Some could even argue that’s it’s looking to become a huge industry, and it makes a lot of sense, so why not make some out of it?
Sermo is one of the many companies offering paid surveys to doctors, and it’s very simple as well. You receive surveys on your email, and once you complete them, you’re paid depending on the size of your survey. Payment can be as little as $15 or as much as $250.
It won’t take much time, so you can do them during your free time. Similarly, scheduling should be the least of your worries. Finally, you’ll still have a significant impact on your field of study thanks to how helpful surveys are for treatment development.
Earnings aren’t fixed, and you run the risk of a company canceling without too much of a notice. You do need to complete surveys quickly since they might just find someone else.
Medical research goes far beyond surveys, but that’s our focus because of how easy they are. You can also give consultations via telephone, and these could make you $300 per hour or more. Even better, focus groups are another option you can partake in to make up to $1,000 in a single hour. Just keep in mind how you can fit these appointments within your schedule before deciding your path.
Most survey companies require that all doctors taking the surveys are actively practicing their career for as long as they participate. However, board certification isn’t a common requirement, yet it’s a good idea to check during sign-up.
Online education became a huge market these last few years, and it’s looking up to increase its worth to over $300 billion in the following years.
You can even verify this growth while browsing through YouTube or your own social media newsfeed. It’s filled with ads for online courses on any topic you can imagine. You can take a slice of that money by developing a course based on your own knowledge and expertise.
You can also do it from Udemy, which is the largest e-learning platform. You can record and structure your lessons however you want and set your own prices.
Once your course is ready and available to the public, it’ll keep generating money for as long as people buy it. Therefore, you can make money from it even months after you released it – and without having to sit down constantly with your students.
It does take quite some time at the start while creating your course. You might also need to invest in equipment and software.
Make it clear to your students what they’re going to learn and what they can achieve with it. Speaking of what they’ll learn, make sure you offer value other courses aren’t offering. It doesn’t really need to be a long course as long as the knowledge is valuable.
Hi, I am Adam. The founder of this blog Snag Success & many other niche sites.
A lot of the times you will end up saving a ton of money on great products from my blog!
CAN YOU DO ME A SMALL FAVOR?
I’ve put a ton of research & effort writing this blog post to provide you with the best information I can.
It’ll be super helpful if you could consider sharing it on social media networks.
Appreciate It! ♥️