How To Make Extra Money As A Resident Physician

– Your salary as a resident can be discouraging, especially with the number of hours you work. Having hefty student loans looming only makes it worse.

– But there are income-generating opportunities fitting for every type of resident. Here are some great options.

Teaching

– Kaplan, The Princeton Review, and their competitors offer instructor positions that require as little as one evening or one weekend day per week. – EMT training programs, physician assistant programs, BLS/ACLS courses, and educational programs can benefit from a physician’s expertise.

Writing

– Medical communications companies frequently hire freelance writers to develop various documents for pharmaceutical companies, such as training materials, needs assessments, and manuscripts.

Writing

– You’ve probably taken a lot of notes over the course of your training. You can use your old documents on topics that interest you to develop high-quality study materials such as question banks and review books.

Clinical work

– Traditional Moonlighting - You have the best chance of being successful with moonlighting if you can do so within your own institution. - Urgent care centers are often looking for physicians to fill in for absent providers or to staff undesirable shifts such as weekends. Many don’t require board certification, so residents are great candidates.

– Use of telemedicine is becoming commonplace. While companies vary in their requirements for physician credentialing, providing consults with a company that will accept residents is a very doable gig for a resident.

Coaching and counseling

– Coaching is an excellent avenue for entrepreneurially-minded residents. – Health Coaching - Health, fitness, or weight-loss coaching utilizes bits and pieces of your medical knowledge without requiring a license or board certification.

– Life or Career Coaching - Life coaching can focus on a range of professional and personal issues. Residents can be a great resource for people in the healthcare field who want direction for their careers.

– Medical School Admissions Counseling - As you probably know from personal experience, prospective medical students are willing to spend a lot of money to secure a spot in med school. Offering services to assist in the application and interview process can be a great money-maker for residents.

Medical-related, but nonclinical work

– Medical scribes are becoming quite popular in many practice settings. The work doesn’t pay well, but it’s not difficult, either. – Resident-friendly jobs in research include lab or clinical research assistant, clinical data abstractor, and medical records summarizer.

– Many hospitals hire companies to provide “at the elbow” support for practitioners during EMR implementations. A couple options to look into are MedDocLive and emids.

– Taking surveys will only make you money intermittently, but it’s easy to do from the comfort of your own home or whenever you have a few minutes.

Use skills that are unrelated to medicine

– App-based services like Airbnb, TaskRabbit, Pavemint, etc. make earning money in your free time easier than ever. These all take time and won’t make you rich, but they are great options for residents in need of some extra dough due to their flexibility and ease of entry.

– Donate plasma, sperm, or eggs. Or participate in healthy volunteer research studies. – For residents with hobbies such as art, crafting, or design, think about selling some of your work. Set up a store on Etsy or advertises on networks such as Instagram.