By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Health Works CollectiveHealth Works CollectiveHealth Works Collective
  • Health
    • Mental Health
    Health
    Healthcare organizations are operating on slimmer profit margins than ever. One report in August showed that they are even lower than the beginning of the…
    Show More
    Top News
    photo of hands with blue veins
    8 Proven Tips on Finding Difficult Veins
    November 12, 2021
    tips for getting over the pandemic blues
    4 Proven Ways to Get Over the Pandemic Blues
    February 22, 2022
    medical industry innovations
    How is CNC Machining Transforming the Medical Industry?
    June 2, 2022
    Latest News
    Grounded Healing: A Natural Ally for Sustainable Healthcare Systems
    May 16, 2025
    Learn how to Renew your Medical Card in West Virginia
    May 16, 2025
    Choosing the Right Supplement Manufacturer for Your Brand
    May 1, 2025
    Engineering Temporary Hospitals for Extreme Weather
    April 24, 2025
  • Policy and Law
    • Global Healthcare
    • Medical Ethics
    Policy and Law
    Get the latest updates about Insurance policies and Laws in the Healthcare industry for different geographical locations.
    Show More
    Top News
    Doctors on Google: Manhattan Research Survey 2012
    July 23, 2012
    HealthCare’s Need for Transparency Goes Far Beyond Pricing
    December 10, 2012
    Medicare Payments to Providers Are Carved, Sliced and Chopped by Sequestration
    March 25, 2013
    Latest News
    Building Smarter Care Teams: Aligning Roles, Structure, and Clinical Expertise
    May 18, 2025
    The Critical Role of Healthcare in Personal Injury Recovery: A Comprehensive Guide for Victims
    May 14, 2025
    The Backbone of Successful Trials: Clinical Data Management
    April 28, 2025
    Advancing Your Healthcare Career through Education and Specialization
    April 16, 2025
  • Medical Innovations
  • News
  • Wellness
  • Tech
Search
© 2023 HealthWorks Collective. All Rights Reserved.
Reading: 5 Ways Doctors Can Generate Extra Revenue In and Out of Your Practice
Share
Notification Show More
Font ResizerAa
Health Works CollectiveHealth Works Collective
Font ResizerAa
Search
Follow US
  • About
  • Contact
  • Privacy
© 2023 HealthWorks Collective. All Rights Reserved.
Health Works Collective > Business > 5 Ways Doctors Can Generate Extra Revenue In and Out of Your Practice
Business

5 Ways Doctors Can Generate Extra Revenue In and Out of Your Practice

Mike Woo-Ming MD MPH
Last updated: January 12, 2013 9:11 am
Mike Woo-Ming MD MPH
Share
4 Min Read
SHARE

In this era of declining reimbursements and uncertainty, physicians need to become more proactive in finding innovative ways to bring in extra revenue.  Most doctors are conditioned to believe that the only way to make more money  is seeing more patients.  Here are five activities that can help you bring extra revenue to yourself and your practice:

In this era of declining reimbursements and uncertainty, physicians need to become more proactive in finding innovative ways to bring in extra revenue.  Most doctors are conditioned to believe that the only way to make more money  is seeing more patients.  Here are five activities that can help you bring extra revenue to yourself and your practice:

1. Identify Cash-paying Services in Your Own Practice.  It’s clear to succeed we must become less reliant on insurance.  Are there patients that you service that are not dependent on medical insurance? For example, if you are in primary care, are there patients you can identify who are paying by cash? Contact these patients as this could be a seamless way in transitioning to a concierge medicine practice.

2. Start a Class.  Is your clinic unused on the weekends or after hours?  You may want to consider offering group classes to help with patients, or attract new ones. These can be on topics where you wish you can spend more time with patients. Examples we have recommended include bringing in nutritionists, or start a smoking cessation session.  This can bring in income when your clinic is not in use.

More Read

Phytoceuticals Heals Wounds Through An Easy To Use Spray
Peter Thiel’s Take on Education
The Disconnect Between Hospital Marketing and What Patients Need
Administrative Costs
Making a Connection: How to Humanize Physician Marketing

3. Become a Coach or Consultant. What type of specialized knowledge can you share with others?  Becoming a consultant can help you provide help to others who need it and will pay you for your expertise.  In fact I know doctors who help other doctors with burnout, build a cash practice, or advise on financial investments.  With many doctors transitioning this area will just get even bigger and in

demand.

4. Create your Own Online Membership Site.  I’ve worked with doctors who have built private fee-based websites for their patients where they share knowledge to help them with their health. Note, you don’t have to be limited by health subjects, just find a topic that you are passionate, and that you can provide content that people will want.

5. Start a Blog.  Have something to say?  You can make a nice extra income by writing and selling your own products via your own blog.  Make extra money selling online advertising. You can also use that as a springboard to building a following. Generate more revenue by adding an email autoresponder to notify readers of upcoming posts.

It’s time for more doctors to start working smarter, not harder.  Learn to value your time and you will become a more productive and more fulfilled physician.

 

TAGGED:physician income
Share This Article
Facebook Copy Link Print
Share

Stay Connected

1.5kFollowersLike
4.5kFollowersFollow
2.8kFollowersPin
136kSubscribersSubscribe

Latest News

Clinical Expertise
Building Smarter Care Teams: Aligning Roles, Structure, and Clinical Expertise
Health care
May 18, 2025
Grounded Healing: A Natural Ally for Sustainable Healthcare Systems
Grounded Healing: A Natural Ally for Sustainable Healthcare Systems
Health
May 15, 2025
Learn how to Renew your Medical Card in West Virginia
Learn how to Renew your Medical Card in West Virginia
Health
May 15, 2025
Dr. Klaus Rentrop Shares Acute Myocardial Infarction heart treatment
Dr. Klaus Rentrop Shares Acute Myocardial Infarction
Cardiology
May 13, 2025

You Might also Like

Satisfaction with Provider Communication Is Lower in Patient Center-Medical Homes

January 12, 2014

Bad News for Evidence-Based Medicine

July 11, 2011

Listen Here! Should We Bribe People to be Healthy? The Philosophical Argument – a Brilliant Debate

April 18, 2012
Image
Hospital Administration

How to be Present Online for Your Healthcare Practice

May 27, 2016
Subscribe
Subscribe to our newsletter to get our newest articles instantly!
Follow US
© 2008-2025 HealthWorks Collective. All Rights Reserved.
  • About
  • Contact
  • Privacy
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?