Physicians as Contractors Are Progressively Location-Independent

Work Flexibility

Traditionally, independent contractor physicians had limited flexibility in terms of their work location. This was due to the nature of our profession, which required physical presence in clinics, hospitals, or healthcare facilities.

However, technological advancements and the growing acceptance of telemedicine have opened up exciting possibilities for achieving location independence.

Here, let's take a look at our SimpliMD community, where many of you, like independent contractors, are now embracing a more location-independent lifestyle. I believe these options shed light on a similar path that is available to many of you, even if you are just starting to consider side work opportunities or the increasingly common practice of job stacking among doctors.

Let me share an example of job stacking. I recently spoke to a developmental pediatrician who decided it was time to gradually establish an independent virtual practice alongside his primary job. He was confident about the venture because the regional demand for access was sufficiently high. He had planned to maintain his primary W-2 job based in the hospital but intended to reduce his hours to around 0.8 full-time equivalent (FT), gradually incorporating his virtual practice that would span across several states.

At SimpliMD, we were able to assist him in setting up his professional corporation for his new job, which will generate 1099 income for him. His micro-PC will be virtual and perfectly mirror his location-independent work. As I have mentioned before, using a PC for your 1099 income offers several advantages in terms of professional autonomy and financial health.

Here are a few job ideas that I have noticed within our SimpliMD community. These ideas might inspire you to pursue them as your primary work, side hustle, or job stacking.

1. Telemedicine and virtual consultations: Telemedicine enables you to provide medical consultations remotely through video calls or other digital platforms. By offering telemedicine services, you can easily connect with patients from anywhere in the world, eliminating the need for a fixed physical location, this flexibility enables you to work from various places, such as your home, a co-working space, or while traveling.

2. Online platforms and marketplaces: Several online platforms and marketplaces connect patients with professionals like you, offering you ample opportunities to provide your services. These platforms can facilitate virtual appointments, second opinions, or specialized medical advice, enabling you to serve a wider range of patients without being limited to a specific location. There is a growing list of these platforms, and Roman and Hims are good examples.

3. Mobile healthcare apps: Mobile healthcare applications are gaining popularity as they provide patients with convenient access to healthcare services. By partnering with these apps, you can offer your expertise and leverage technology to deliver care and consultations remotely. These apps often support location-independent work arrangements by connecting you with patients from diverse geographical locations.

4. Remote medical consulting and second opinions: You have the ability to offer remote medical consulting and second opinions to patients who are seeking additional expert advice. This can be accomplished through medical review platforms, teleconferences, or secure messaging services. These services enable you to offer your specialized knowledge and recommendations, regardless of your physical location.

   One of my SimpliMD clients successfully set up his PC for a part-time job, which turned out to be a great success for him. As his small business mindset grew, he started gaining momentum, and he eventually developed a side hustle job in legal review that is essentially location independent. He makes over $100,000 per year doing this, and I wouldn't be surprised if it eventually becomes his primary job or serves as a foundation for a job-stacking scenario.

5. Medical writing and content creation: If you have expertise in a specific medical field, there are various opportunities for you to explore in the realm of medical writing. You can create educational content, contribute to healthcare publications, or even delve into other related areas. These roles often offer greater flexibility and can be pursued remotely. Independent contractor physicians have the opportunity to share their knowledge, research, and insights through articles, books, blogs, or podcasts, reaching a wide audience without being tied to a specific location.

   As you may already know, I am currently engaged in building our SimpliMD community as I work towards coast-FIRE in June of 2024. The beauty of our virtual community is that it enables me to travel the world while still effectively leading and managing our operations.

6. Locum tenens assignments: Locum tenens refers to temporary physician staffing, where you fill in for other physicians who are on leave or unavailable.Locum tenens assignments can offer you the opportunity to work in various locations for short periods, allowing you to explore different regions or travel while still practicing medicine.Although this is technically not location independent, it is still an option because it doesn't require you to move or give up your primary job.

   For example, a SimpliMD client could be a surgeon who works full-time in a rural area. However, during his scheduled time off from his primary job, he and his family take on 72-hour weekend shifts and 1-week stints in a Midwest resort town. He loves the extra income, and his family loves the resort.

It is important to note that while technology enables greater location independence, certain legal and regulatory considerations may apply depending on the jurisdiction and the specific medical practice involved. It is important to ensure compliance with licensing requirements, privacy regulations, and any local laws that govern the practice of medicine in different locations.

Overall, the increasing integration of technology, telemedicine, and remote work options has expanded the possibilities for independent contractor physicians to embrace a lifestyle that is more location-independent, providing greater flexibility and the ability to practice medicine from anywhere in the world.

At the core of these opportunities lies the need for you to start your own micro-corporation. This entity can be utilized to effectively manage your business-to-business independent contracting agreements and 1099 income.

At SimpliMD, our specialization lies in assisting doctors nationwide with this process. We utilize a concierge-level legal network to help you customize your PC to perfectly align with your specific professional requirements.Do not settle for anything less than this type of physician-centric professional service when starting your corporation, as you will likely regret it.

I invite you to engage with our legal network and let SimpliMD help you set up your PC here

Tod