Hybrid Work for Physicians: Job Stacking Part-Time W-2 and 1099 Roles

Imagine a life where you have control over your career and your schedule, more time with your family, and more freedom to pursue your passions. As a physician, the idea of stepping into self-employment and entrepreneurship might seem daunting, especially when considering financial stability. But the truth is, it’s possible to structure your work life to match—and even exceed—your full-time W-2 income while gaining the flexibility you’ve always wanted.

In this post, I’ll dive into the story of a physician who transitioned from a full-time W-2 job into a blended model of part-time W-2 and 1099 work, job-stacking multiple part-time roles, and achieving a level of professional and personal satisfaction that wasn’t possible before. If you’ve ever considered taking a similar journey, this could be your blueprint to making it happen.

Read More: Job Stacking for Doctors: A Modern Approach to Work-Life Balance

1. The Journey Begins: Moving Away from Full-Time Employment

Like many physicians, you may feel burnt out and frustrated with the constraints of full-time W-2 employment. For this physician, the daily grind had become overwhelming. Long hours, less time with family, and limited autonomy over his practice decisions were draining. He loved the work but was growing tired of the rigid framework that came with traditional employment.

So, he started by downshifting to a part-time W-2 role, reducing his hours and responsibilities, and allowing himself time to explore other options. Initially, this cut into his income, but it gave him space to evaluate what he truly wanted out of his career. He realized that a mix of flexible, part-time 1099 work could allow him to maintain his income while providing the freedom he craved.

2. Building the Income Stack: The 1099 Trio

Instead of relying on one employer, this doctor diversified his work with three part-time 1099 roles, all complementing his skill set and professional interests. Here’s how he did it:

• Telemedicine: Working part-time in telemedicine allowed him to see patients from home, enabling him to control his schedule and choose how many hours he wanted to work each week. Telemedicine brought in a steady income, provided flexibility, and allowed him to stay connected to patient care, all while avoiding the traditional office setting.

• Medical Directorship for a Home Health Agency: This role allowed him to apply his expertise in a non-clinical capacity, supervising care plans, training staff, and ensuring regulatory compliance. Medical directorships often pay well, with less time commitment than direct patient care roles, and this position became an ideal supplement to his telemedicine work.

• Medical-Legal Consulting as an Expert Witness: Working as an expert witness allowed him to use his medical knowledge to support legal cases. It was a well-compensated, flexible role that he could schedule around his other commitments. Medical-legal consulting also gave him the chance to develop new skills, broadening his expertise while contributing to his income stack.

With these three roles combined, his income returned to what he earned in his full-time W-2 position. But the kicker was this: he was working fewer hours, enjoying more weekends off, and gaining greater control over his life.

3. The Financial Breakdown: Matching His Full-Time Income

One of the main concerns for physicians considering self-employment is the financial impact. Would going part-time, freelance, or working as a contractor affect his annual income? Here’s how he made it work.

In his former full-time W-2 role, he earned an annual salary of $300,000, but this came with a heavy workload, often 50-60 hours a week. By shifting to a part-time W-2 role and three 1099 positions, he strategically set up his rates and hours to match his original income.

• Part-time W-2: $100,000

• Telemedicine (1099): $70,000

• Medical Directorship (1099): $80,000

• Medical-Legal Consulting (1099): $50,000

This arrangement provided him with $300,000 in income, nearly identical to his previous salary, but with the added bonus of flexibility. He was able to work about 35-40 hours a week across his roles, a significant reduction from his previous workload, and he had the freedom to take weekends and vacations when he wanted.

4. The Benefits of Flexibility and Autonomy

In addition to income, this shift brought about other valuable lifestyle improvements:

• Retaining Employment Benefits: He was able to retain his employee benefits and malpractice insurance through his part-time position. This included his family’s health insurance which was a huge win.

• More Time for Family and Personal Pursuits: With a flexible schedule, he had the freedom to spend evenings and weekends with his family, something he often missed in his full-time job.

• Professional Satisfaction: By choosing roles that aligned with his expertise and interests, he found renewed joy in his work and was no longer burdened by administrative red tape.

• Reduced Burnout: The combination of autonomy, flexibility, and a diversified workload allowed him to structure his professional life around his well-being. The ability to say “yes” or “no” to shifts gave him a level of freedom and respect often missing in traditional W-2 roles.

5. Key Takeaways: How You Can Get Started

If you’re a physician looking to take control of your career, consider the following steps to make a similar transition:

• Start Small: Begin by experimenting with one part-time 1099 role alongside your current job. This will give you a feel for self-employment and ease your financial concerns.

• Diversify Your Skills: Think about other ways you can use your medical expertise, such as telemedicine, directorships, or consulting. Building diverse income streams reduces risk and increases your flexibility.

• Develop a Financial Plan: Make sure you know your financial goals and calculate how part-time roles can help you meet them. SimpliMD’s Micro-Corporation Budget Template is part of my Business Plan Bundle and can save you hours of time planning your income streams and expenses.

• Structure Your Business: Forming a micro-corporation gives you a solid foundation for growth. Check out SimpliMD’s Business Plan Bundle for a personalized business plan template, budget template, and SWOT analysis tool designed specifically for self-employed doctors.

Take Action: Set Up Your Micro-Corporation and Build the Career You Want

Making the transition from a traditional W-2 job to self-employment may seem overwhelming, but with the right tools and guidance, you can create a career that fits your lifestyle. Start your journey by signing up for SimpliMD’s personalized micro-business consult for only $99, which includes a one-year membership valued at $2500 in business resources to support you every step of the way.

For a deeper dive into the business side of medicine, enroll in our Creating a Practice Without Walls course. You’ll learn how to build a micro-corporation that provides you with autonomy in the marketplace, helping you reclaim control over your professional life.

Ready to optimize your business planning? Access our SimpliMD Business Plan Bundle and gain access to the SimpliMD Business Plan Template, a Micro-Corporation Budget Template, and a SWOT Analysis Template. Each tool is crafted specifically for self-employed physicians and will save you hours of planning time.

Your career deserves to be more than just a job. Take the leap toward flexibility, satisfaction, and financial security by joining SimpliMD today.