Published by Lookforzebras
- 1. Executive and senior leadership
- 2. Research and development roles for products and services
- 3. Consultants for marketing and evangelism
- 4. Medical practitioners to carry out business services and operations
- 5. Advisory board and board of directors, members
- 6. Investors
I have a number of acquaintances in the San Francisco Bay area who work for startups. I love hearing about their work and their lives. The quick pace, the rounds of fundraising, and the idea of blazing a new trail. I’m enticed by the startup culture (dog-friendly workplaces and unlimited PTO?!) and the thrill of working for a company that could become “the next big thing” within a field.
Innovation in health and medicine is huge right now, and startups looking for doctors are not hard to find. There are many young companies looking to shake up the way healthcare is delivered, empower patients to be proactive about their health, improve the way that various diseases are treated, and apply new technologies to the field of medicine.
Here are 6 different ways for physicians to get involved with health tech and biotech startups. There are opportunities for doctors of every type – whether you’re looking for a career pivot or just something new to do on the side. Getting involved with a medically-related startup is a possibility even for doctors with a busy clinical practice. I’ve included some pros and cons for each to help you consider what might be the most fitting for you.
1. Executive and senior leadership
Having a physician in an executive leadership role ensures that a tech startup is acting in manner that will ultimately benefit the patient. Who better to have as the company’s primary medical representative than a highly-educated clinician with ample knowledge of both basic science and the workings of the medical field?
Chief Medical Officer is one of the most common physician-held leadership positions at small startups. For many early companies, this is the first and only role filled by an individual with a clinical background. Chief Scientific Officer or Chief Health Officer is used by some businesses instead of (or in addition to) CMO.
Some startups with a complex product or a focus that’s heavily medical will hire more senior physician leaders than just a CMO. Look for opportunities such as Chief Medical Information Officer.
Landing one of these positions generally requires at least several years of experience in clinical medicine and/or research. Depending on the size of the company, though, high-level leadership experience may not be needed. If you’ve never been a CMO before, don’t let that hold you back from pursing a CMO position that you’re otherwise well qualified for.
Be prepared to make big decisions if you take a CMO position with a startup. You’ll wear many hats and your role may change as the company evolves.
Perks and upsides:
- Equity in the company (which may be a significant percentage)
- Opens doors for other senior leadership positions
- You’ll learn a ton
- Your decision-making will have a big impact
Challenges and potential drawbacks:
- Salary may be lower than what you can make in a larger organization
- Will likely work long hours
- A lot of responsibility
2. Research and development roles for products and services
In growing and late-stage startups, physicians fill full-time roles aside from executive and senior leadership. These include vice presidents and senior vice presidents with areas of focus such as VP of Health Analytics and Research or VP of Clinical Development. Typically, these individuals report directly to the CMO or another executive leader.
Physicians brought on board to develop the startup’s product or service may also be Medical Directors or Physician Leads. They often work closely with researchers, software developers, and other non-clinical staff.
These roles can have a lot of overlap with the CMO position at some startup companies. The main difference, however, is that physicians outside of the C-suite are more likely to be “in the weeds” than focused on high-level strategy. Physicians in these positions are valuable in bringing a clinical and medical perspective to developing and launching a new product.
AngelList is a great place to explore open positions of this type or post your resume so that startups can find you.
Perks and upsides:
- Great way to transition away from clinical medicine while still utilizing your medical knowledge and skills
- Equity in the company
- Full-time, employed work with benefits
Challenges and potential drawbacks:
- Compensation may not match what you can make in a clinical position
- Long hours
3. Consultants for marketing and evangelism
The two roles discussed above tend to be full-time, permanent positions with a startup. But physicians often work with startups in consulting roles. These can sometimes be related to early product development, but are more common when the technology is ready to launch and thereafter.
A physician who is passionate about a startup’s technology and who truly believes it will improve patient lives or healthcare delivery is a huge asset to the startup. Doctors tend to have influence and large networks of other healthcare practitioners that can really help a new technology take off.
As a consultant for a health tech startup, you might translate the benefits and capabilities of the company’s technology into terms that potential customers can understand and find value in.
This work might also involve developing strategy to help bring a technology into the existing healthcare or consumer marketplace. Your first-hand experience in a healthcare delivery setting and working with patients gives you the knowledge needed to make good decisions about selling, scaling, and carving out a need and niche for the startup’s product.
Perks and upsides:
- Work might be part-time and flexible
- Spend time talking or writing about something you’re passionate about
- You can continue practicing while getting involved in a startup
Challenges and potential drawbacks:
- If you disagree with any aspect of the company or a decision that’s made, you may not have the ability to alter or influence it
- Compensation may be equity instead of hourly pay
4. Medical practitioners to carry out business services and operations
Many health-related startups are more than just a simple tangible product or piece of software. It’s common for them to include a service that requires ongoing medical decision-making for customers. For example, an app that helps patients manage their chronic disease might utilize lab testing that needs a doctor’s order or review. Similarly, telemedicine platforms need physicians to carry out the actual patient consults.
Working as a provider in the ongoing operations of a startup company won’t necessarily be much different than your regular work as a clinician. You might have patient encounters, sign off on test results, or review records. So, if you want to just dip your toe in the sea of the startup world, working as a consulting physician with a late-stage startup may be the way to go.
Perks and upsides:
- Straightforward, hourly rate for your services
- Get a feel for what it would be like to work full-time with a startup
- Schedule and time-requirement may be flexible
Challenges and potential drawbacks:
- If your work involves practicing medicine – either in person, by telemedicine, ordering tests, or signing off on results, you MUST do your due diligence before signing on. Ensure you have the appropriate licenses and malpractice insurance. A small startup may have overlooked important considerations for their physicians. Unfortunately, there are also businesses out there with scammy or fraudulent practices that aren’t always obvious.
5. Advisory board and board of directors, members
Many physicians dream about starting their own business. You might have an idea for a medical product or a health-related services that seems like it could really flourish. But, in reality, starting a business from scratch is a tough thing to do. This prevents a lot of doctors from actually doing it. But you can experience the thrill of a young business without actually owning and running it yourself, and without taking an employed position.
The board of directors is responsible for making critical decisions for the company. These are mainly strategic and financial in nature. Be sure your own viewpoints align with the organization’s long-term goals and mission. Don’t take the decision to serve on a board of directors lightly.
Physicians with expertise in a specialty, therapeutic area, or disease state are often excellent candidates to serve on the advisory board for health-related startups. These positions have less of a fiduciary responsibility than a board of directors position; however, they don’t carry the same voting right or compensation.
Perks and upsides:
- You can be truly influential in the path the startup takes
- Equity in the company
- Expand your network as you work with other board members
Challenges and potential drawbacks:
- Investing in the company may be an expectation for board members
- Time and effort requirements can be variable and travel may be required
- May need to make tough decisions about hiring or firing senior management and in legal affairs
- Your level of engagement on the board may be tied to your compensation
6. Investors
Investing in a startup is an excellent option for doctors who don’t want a career change and aren’t looking for any additional work. After doing some upfront research as you’re considering the investment, your time requirements will be minimal. All you’ll have to do is some paperwork and keep track of where your investments are, and stay abreast of any major company changes like IPOs and acquisitions.
Of course, the major risk is losing some or all of your investment. However, if you feel passionate about a startup’s product and want to help give it the best chance at success, it may very well be worth the risk for you.
Perks and upsides:
- Your investment helps give the startup a chance at success
- Little to no commitment of time and effort
- Be involved in the excitement of a startup without leaving your clinical job
- Possibility for return on your investment
Challenges and potential drawbacks:
- You can’t influence the direction or decisions of the company
- You might lose your investment
- Remote jobs for doctors don’t require leaving medicine or making a career sacrifice
- 1. Telemedicine
- 2. Utilization review
- 3. Medical writing and communications
- 4. Pharmaceutical medical affairs
- 5. Physician advising
- 6. Clinical research services
- 7. Business consulting
- Conclusion
With all the technologies we have at our disposal, remote work is becoming widespread. Employers in a wide variety of sectors are tweaking their processes and cultures to allow for some employees to perform their jobs remotely or at least offer the ability to work from home on occasion. Others are becoming completely virtual. Physicians aren’t out of luck when it comes to this trend. There are many great remote jobs for doctors.
This article covers 7 of the most effective ways to utilize your medical knowledge and clinical decision making skills while working from home and earning a good full-time salary.
Many of these descriptions can be modified slightly to include remote physician
assistant jobs and remote advanced practice nurse jobs.
Remote jobs for doctors don’t require leaving medicine or making a career sacrifice
A quick note for the skeptics before we get started:
Telecommute jobs aren’t just for burned-out physicians who want to get away from the headaches of clinical medicine. Remote physician jobs come in many types – clinical and nonclinical, various industries, and different work responsibilities.
These jobs can truly cater to your skillset and take advantage of the lengthy training you’ve been through.
You may not be able to replicate all the benefits of a traditional clinical job in a remote setting. For example, the salary will likely be somewhat lower than what you can make seeing patients full-time. But there are many additional perks that, for many doctors, greatly make up for this. These include:
- Schedule flexibility
- No commute
- Less workplace drama
- Fewer interruptions by staff and colleagues
- More time spent in the comfort of your own home
Telemedicine tops the list when it comes to remote jobs for doctors. The number of opportunities is skyrocketing and the nature of the work is expanding.
It’s not very difficult to find a remote medical writing job. One reason is that a large percentage of writing jobs are remote positions since writing can easily be done from home. The other main reason is that so many different types of companies hire medical writers, including medical communications agencies, pharmaceutical companies, and medical education providers.
Most positions do not require a medical degree, so the main drawback for most doctors is a lower salary compared to what they can make in clinical practice.
I’ve come across a number of positions that allow for telecommuting but require being in the office periodically for meetings. This can be a great arrangement for physicians who crave human interaction from time to time.
A remote job in medical communications is suitable if:
- You enjoy writing (of course)
- A high salary isn’t your main motivator
4. Pharmaceutical medical affairs
Field-based medical affairs teams, which include medical science liaisons (MSLs), are made up of scientists and clinicians of diverse backgrounds, including PhDs, MDs, PharmDs, NPs, and more. MSLs are responsible for providing clinical and scientific information to healthcare professionals and the healthcare provider and payor communities.
But, when not out in the field, MSLs typically work remotely.
Other medical affairs roles for some pharma companies that may be field-based and/or remote include medical advisors, medical directors, and scientific directors.
Consider a remote job as an MSL or similar position if:
- You are outgoing and enjoy fostering relationships
- You don’t mind traveling or being on the road
- There is a particular pharmaceutical therapeutic area of interest to you
5. Physician advising
Physician advisors drive performance across healthcare organizations by communicating best practices for evidence-based care and its documentation to providers and other clinical staff.
As physician advisors are typically employed by a hospital or hospital system, most are required to work on-site. Nonetheless, there are remote positions out there if you search for them, especially for hospitals using third-party vendors for revenue cycle management services.
Contract research organizations (CROs) are independent companies that conduct clinical trials to objectively evaluate investigational drugs. Some also offer medical affairs, drug safety, and other services for pharmaceutical companies.
A few examples include Parexel, IQVIA, and PRA Health Resources.
Physicians working for CROs often do so in the context of a medical director position in which they provide clinical expertise and leadership to support research and business development activities. They need to keep up-to-date within a therapeutic area and use this knowledge to contribute to investigator meeting presentations, review study documentation, oversee safety data reviews, and provide other types of clinical support.
- Enjoy research
- Like the science of medicine and interpreting clinical data
- Are comfortable being the medical expert on a team
7. Business consulting
Business consulting encompasses various types of consulting firms, including healthcare consulting, management consulting, and health IT consulting. What most firms have in common is that their consultants spend the majority of their time at client sites. These might be academic or community hospitals, healthcare payors, government facilities, or other organizations.
So, similar to field-based medical affairs jobs, business consulting jobs are somewhat less “remote” than the other job types listed here. Some consulting firms lack a work-from-home culture altogether. At other firms, consultants might spend four days per week at a client site, and then work the fifth day from home. Others might spend a few solid weeks at a client site, and then have a full week to work remotely.
Regardless of the exact type of consulting practice, physicians in business consulting
evaluate a problem that a client organization has and work to recommend (and sometimes implement) a solution.
Physicians can do a huge variety of work remotely that is both relevant to their skills
and necessary for patient care and the overall health of our population on a broad level.
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