Home-Based Jobs for Doctors: You Have Many Options
Sep 10, 2024As the healthcare industry evolves, so do the opportunities for you to break away from the traditional clinic or hospital setting. If you’ve ever wanted to work from home, now is the time to explore the myriad options available to you. Whether you're looking to downshift from a full-time clinical role or diversify your income streams, there are plenty of ways to use your medical expertise without leaving your home office.
But to truly maximize these opportunities, forming a micro-corporation is key. It’s not just about optimizing your tax situation—it’s about building a foundation for long-term wealth and professional autonomy. I would love to be your guide in helping to set up your micro-corporation for home based 1099 contracting. Reach to me here for a micro-business consultation and I’ll help you with your specific situation.
If you need help connecting with the right legal professional to set up your corporation, engage with me here. I'll connect you to a lawyer in our SimpliMD network who understands high-net-worth doctors—he's fantastic!
Why You Should Consider Forming a Micro-Corporation
To learn more professional micro-corporations check out Professional Micro-Corporations: Should I Start A PC or a PLLC?
Creating a micro-corporation—usually an PC or PLLC taxed as an S-corp—can be a game changer. Here’s why:
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Tax Efficiency: By forming a micro-corporation, you can take advantage of tax benefits that are out of reach for W-2 employees. You’ll be able to write off business expenses, contribute more to retirement accounts like a solo 401(k), and potentially reduce self-employment taxes. You can read more here: The Urgency of Now: A Guide for Physicians on Launching Their Micro-Corporation
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Wealth Accumulation: Owning a micro-corporation gives you control over how you handle your earnings. Whether it’s reinvesting in your business, expanding services, or maximizing your retirement contributions, this structure provides a strategic path to building wealth. You can read more here: The Pentamillionaire Doctor: Your 10-Step SimpliMD Roadmap
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Professional Autonomy: With your own micro-corporation, you have the freedom to decide how, when, and where you work. This flexibility doesn’t just improve your work-life balance—it also opens up opportunities to diversify your income without being tied down to a single employer. You can read more here: Every Doctor Needs To Preserve Their Professional Autonomy
Top Work-From-Home Jobs You Can Pursue
If you’re thinking about transitioning to a work-from-home model, here are some of the best options to consider:
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Telemedicine
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Description: Telemedicine allows you to consult with patients via video, phone, or online messaging platforms. It’s especially popular for primary care, urgent care, radiology, dermatology, generic counseling and mental health services. However, the number of telehealth options are expanding in every specialty.
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Medical Writing and Editing
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Description: If you have a knack for writing, consider creating content for medical journals, textbooks, online health resources, or pharmaceutical companies. Editing roles are also available for refining medical research and literature.
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Medical Consulting
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Description: Offer your expertise to healthcare organizations, legal firms, or insurance companies. This might include case reviews, expert witness services, or advisory roles.
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Utilization Review
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Description: In a utilization review role, you’ll evaluate healthcare services for their necessity, efficiency, and adherence to guidelines. Many insurance companies and healthcare management firms hire for this position.
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Medical-Legal Consulting
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Description: If you’re interested in the intersection of law and medicine, medical-legal consulting could be a perfect fit. You’ll work on legal cases, often as an expert witness, providing insights into medical practices, standards, and patient care.
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APP Oversight and Collaboration
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Description: As more healthcare systems rely on Advanced Practice Providers (APPs) like nurse practitioners and physician assistants, there’s a growing need for physician oversight. You can work from home overseeing APPs, ensuring compliance, and collaborating on patient care.
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Professional Coaching for Doctors
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Description: Share your experience by coaching other doctors. This could involve helping colleagues avoid burnout, navigate career transitions, or enhance their leadership skills.
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Blog/Website/Podcast/Vlog/Course Creation
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Description: If you enjoy creating content, consider starting a blog, website, podcast, or vlog focused on medical topics. You can also create online courses for other doctors, sharing your expertise and insights.I have built SimpliMD on the Kajajbi platform and have also sold courses on Teachable and Udemy.
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FAQs for Doctors Working from Home
What qualifications are needed for telemedicine roles?
To work in telemedicine, doctors need a medical degree, a valid medical license, and board certification in their specialty. Some employers may also require specific training or experience in telemedicine platforms and technologies.
How can doctors find part-time remote medical jobs?
Doctors can find part-time remote positions by exploring online job boards, reaching out to professional networks, and contacting telemedicine companies directly. Additionally, medical staffing agencies often specialize in matching physicians with remote roles.
Which medical specialties are best suited for remote work?
Specialties like telepsychiatry, telecardiology, and teleradiology are particularly well-suited for remote work. However, with the right technology and infrastructure, many other specialties can also be effectively practiced from home.
What legal considerations should doctors keep in mind when practicing remotely?
Doctors practicing telemedicine must adhere to state licensure requirements, follow medical board regulations, and comply with telemedicine practice guidelines. It's also crucial to maintain patient privacy, confidentiality, and ensure that medical records are securely stored.
How does compensation for remote doctor roles compare to traditional in-office jobs?
According to Glassdoor, the average hourly rate for remote medical doctors is $136.00 USD. However, this rate can range from $136.00 – $150.00 USD hourly, depending on the employer and the doctor’s experience and qualifications.
In terms of annual salary, remote medical directors can expect to earn a range of $183,529.00 – $206,471.00 USD, according to Indeed.
This range can vary depending on the type of employer and the doctor’s level of experience.
Compensation for remote doctor roles varies based on factors like the employer, specialty, and location. While remote positions might offer lower salaries compared to traditional in-office roles, they often provide greater flexibility and an improved work-life balance.
A Real-World Example: Balancing Family and Career
Take the story of Dr. Sarah. She’s a family physician who found full-time clinic work overwhelming, especially as she tried to balance her professional life with raising a young family. To regain some balance, she reduced her clinic hours to a 0.5 FTE (full-time equivalent) position at her hospital, allowing her to stay connected with her patients without the burnout.
But Dr. Sarah didn’t stop there. She began working from home, taking on telemedicine shifts with Teladoc Health during times that didn’t interfere with family life. She also pursued a few medical writing projects with WebMD, fitting them into her schedule during quiet moments at home. By forming a micro-corporation, Dr. Sarah was able to optimize her tax strategy, significantly reduce overhead costs, and set herself on a path to financial independence—all while enjoying more time with her family.
Her story is a powerful example of how you can craft a career that aligns with your personal values and financial goals by embracing the freedom that comes with a micro-corporation.
Take Control of Your Career with SimpliMD
Are you ready to take the next step toward professional autonomy and explore the many work-from-home opportunities available to doctors today? Your first step is to join our community of self-employed doctors at SimpliMD for only $99 which will unlock access to $2,500 worth of business resources tailored specifically for 1099 physicians. Whether you’re looking to form your own micro-corporation or navigate the evolving healthcare marketplace, SimpliMD is here to guide you every step of the way.
And don’t miss our course, “Creating a Practice Without Walls”, where you’ll learn exactly how to build a micro-corporation that is made for the independent contracting and 1099 jobs—-work that gives you the freedom and flexibility that you’ve always wanted in your medical career. Take control of your professional future—on your terms.