Economic Development News & Insight


Alternative Ways The M.D. Can Build Their Income

/ August 25, 2015

Unbeknownst to most, working in a hospital or private practice is not the only way to generate income if you are a doctor.  Money probably isn’t really a tough issue if you’re an M.D., but success is a hard habit to break.  A lot of medical professionals consistently seek out new ways to learn and expand their range of expertise.  If you find that you are one of those people, and you just can’t get enough input, here are a few ways to make a little extra money on the journey.  

Provide care for prisoners

If you have the proper credentials, you can work as a physician a couple days a week in a local prison or jail, and the compensation is similar to what you would make as a private practice physician.  You should prepare yourself by knowing that the patients you will encounter in this setting are usually a lot worse off than your typical patients.  There is a higher rate of chronic illnesses, and they’re also faced with a high level of daily stress.  You will have to properly prepare yourself emotionally to encounter these situations.  

Provide telehealth consultations

One of the worst parts of being an M.D. is the lack of time you get to spend at home.  If you’re looking for ways to work from home, but still generate income, you should research telehealth consultation.  This is generally just a part-time position, but it will give you a little extra time to relax.  You will usually just deal with several different types of simple complaints, since you won’t ever have the chance to see the patient.  

There are only a couple states that prohibit physicians from doing this sort of thing, so it’s pretty possible anywhere you may be located.  There are also several different websites available that hire physicians to blog or type out answers to questions any patients might have.  Sometimes they link their care to a phone call, but you can find places that are solely based on written questions and answer sessions.  

Serve as an expert witness

Serving as an expert witness is one of the more interesting ways to make a living as a physician.  This is almost always a part time position, given that jurors would see an issue with a physician that always worked for a specific attorney versus several different professionals.  It’s also harder to be seen as being “in touch” with your profession when you spend most of your time outside of the physical field.  Being an expert witness is really best an a monotony breaker.  If you wish to experience other types of work in your field, witnessing is one of the more enjoyable.   

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