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
    improving patient experience
    6 Ways to Improve Patient Satisfaction Within Hospitals
    December 1, 2021
    degree for healthcare job
    What Are The Health Benefits Of Having A Degree?
    March 9, 2022
    custom software development is changing healthcare
    Digital Customer Journey Mapping and its Importance for Healthcare
    July 21, 2022
    Latest News
    Beyond Nutrition: Everyday Foods That Support Whole-Body Health
    June 15, 2025
    The Wide-Ranging Benefits of Magnesium Supplements
    June 11, 2025
    The Best Home Remedies for Migraines
    June 5, 2025
    The Hidden Impact Of Stress On Your Body’s Alignment And Balance
    May 22, 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
    narrow-road-ahead-sign
    Narrow Networks in California?
    March 24, 2016
    Insurer Has E-Security Problem
    August 26, 2017
    What Kind of Inequality Matters to You?
    October 19, 2011
    Latest News
    Let Your Lawyer Handle the Work Before You Pay Medical Costs
    July 6, 2025
    Top HIPAA-Compliant Messaging Apps for Healthcare Teams
    June 25, 2025
    When Healthcare Ends, the Legal Process Begins: What Families Should Know About Probate and Medical Estates
    June 20, 2025
    Preventing Contamination In Healthcare Facilities Starts With Hygiene
    June 15, 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
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

LoneStar Heart is Focused on Preserving & Restoring Heart Functions to Heart Failure Patients
HIMSS 2013: Mayhem or Magic?
DaVinci Robot Fails to Start During Prostate Cancer Surgery
Small Practice Medical Website Mistakes and How to Avoid Them
Are ACOs the New HMOs?

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

9 Lifestyle Tweaks That Can Add Years to Your Life
9 Healthcare Lifestyle Tweaks That can Add Years to Your Life
lifestyle
July 11, 2025
car accident lawsuit
Let Your Lawyer Handle the Work Before You Pay Medical Costs
Policy & Law
July 6, 2025
women dental care
What Is a Smile Makeover and How Much Does It Cost?
Dental health
June 30, 2025
HIPAA-Compliant Messaging Apps
Top HIPAA-Compliant Messaging Apps for Healthcare Teams
Global Healthcare Policy & Law Technology
June 25, 2025

You Might also Like

Explaining Our Debt Problem

September 8, 2011

Drug Shortages Continue–UCLA Spends 2 Hours A Day Checking on Cancer Drug Availability

April 20, 2011

Health Care Business Models in Transition Open Doors for Connected Health

March 1, 2014

FDA Approves First and Only Weekly Diabetes 2 Shot Therapy in the US

January 29, 2012
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?