Healthgrades for Professionals7 Side Hustles for Physicians

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Recent data reveals that 39% of physicians maintain side income streams, with male physicians (42%) more likely than female physicians (34%) to pursue additional work. These supplementary income sources generate an average of $34,000 annually, representing a significant increase from the previous year’s $25,300 average. The trend spans age demographics, with physicians over 60 pursuing side work at rates comparable to those under 40.

Key Points:

• Non-medical ventures, particularly real estate and investing, rank as top choices among both male and female physicians
• Medical consulting opportunities exist across technology, pharmaceutical, and digital health sectors, allowing physicians to leverage their expertise in product development and healthcare innovation
• Expert witness work offers physicians the chance to explain medical evidence in legal settings, primarily through partnerships with law firms
• Medical moonlighting provides additional clinical experience and income, particularly beneficial for residents seeking supplementary earnings
• Chart review roles involve analyzing treatment necessity and length-of-stay decisions for insurance companies and hospitals
• Speaking engagements help establish thought leadership within specific medical niches while building professional networks
• Telemedicine through third-party companies offers schedule flexibility and typically includes malpractice coverage

Fifty-eight percent of US physicians said they have a chance at an incentive bonus, according to a Medscape survey. The average incentive bonus for all physicians was $45,000 in 2023, with PCPs earning, on average, a $27,000 bonus and specialists bringing in a $51,000 bonus.

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