Yes, it’s a well-known fact that doctors earn a decent amount of money. We say decent because if you ask any doctors, they will say they deserve more. And it’s true, they deserve more, but they won’t always get it working for the mainstream US healthcare system. Employment studies have found that doctors bring home an average of $277,000, but the reality is that it’s a lot less than that.
Below, we’ll explore how doctors can make more money in 2024.
Diversify Your Practice
One way to do this is by exploring different services, attracting more clients, and increasing what you earn annually. The more you know, the more you can earn. Instead of sticking with only traditional consultation sessions and treatment plans, try integrating additional services like telemedicine, aesthetics, etc. But that’s only a suggestion for doctors with a private practice, and we already know they earn a substantial amount more than primary care doctors.
Aesthetics have been found to bring high profits, especially when they involve using Botox and fillers – people in the US are going crazy for it.
Going back to hospital settings, some doctors can make money by working with physician staffing companies to find better roles within hospitals. It’s often so much easier to find a job this way.
Explore Additional Streams of Income
It’s not all about being a doctor – doctors can earn more doing things that don’t seem so doctory. For example, doctors could make money by writing articles about medicine for journals, blogging, or even publishing books related to health matters. Or, workshops and seminars could provide an opportunity for experts to share knowledge, making it rewarding financially and fulfilling personally.
Most physicians also complete clinical research, enabling them to partner with pharmaceutical companies during trials. There’s more money to be made than you think from clinical trials.
Invest in Your Education and Skills
Continuing professional development is essential – any doctor reading this will know you can’t avoid it. Seminars, further education, and additional in-hospital courses seem relentless.
Any doctor reading this will also know that further specialization can lead to higher-paying job positions. For example, surgeons make more money than general practitioners because they’re highly specialized – more of a rare unicorn of the healthcare world. And yes, we know not everyone will want to be a surgeon, but there are other specialties to explore that you can join by furthering your education.
New techniques or fields like genetic counseling and telehealth are also becoming popular and generating more specialized roles for people to explore.
We understand why doctors want to increase their salary – it’s a high-risk job with what can feel, sometimes, like little reward. But at the same time, it’s essential not to get too wrapped up in the money. People become doctors or healthcare professionals to care (we hope), but we know it’s common for doctors to chase more money. Don’t fall out of love with the profession over a paycheck at the end of the month.
Throughout his career, Andras Kovacs has developed a deep understanding of DNA and its applications in genealogy and genetic testing. He has helped thousands of individuals uncover their ancestral heritage, using cutting-edge DNA analysis to trace family lineages and reveal connections across generations.