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shaokimParticipantStatus: PhysicianPosts: 3Joined: 06/12/2019June 17, 2019 at 8:42 am MST in reply to: Financial growth strategies for physicians outside of the US #222611shaokimParticipantStatus: PhysicianPosts: 3Joined: 06/12/2019
It sounds like you’re interested in boosting your income. Here are a few things to consider:
1) Would you get paid more if you practiced in another country?
2) How many hours are you working? Are you willing to work more for more money? Can you work overtime at your current job? Can you take on a second job?
3) Can you get a raise? If not, can you change jobs to one that pays more? What about changing locations within your country? Are there other places that would pay more?
4) Is it possible for you to own your practice? Would that be likely to increase your income? Could you hire docs or APCs to work under you?
5) Are you interested in real estate, online businesses, or other side gigs?Click to expand…
1) I am not sure, and I don’t know how to find out either. I would have to look at reimbursement, need for unspecialized physicians, cost of living, …
2) I do overtime call a couple of times a month, but it’s not a big extra to my income.
3) I can probably get a raise, hopefully more throughout the years, if I can go by my coworkers’ salary growth.
4) I probably cannot own my own practice. I work as a hospitalist, but I don’t have a degree of specialist. Just the basic medical degree. I couldn’t hire people under me, because I’m responsible for one department, and I fully manage that one myself.
5) I might be interested in real estate. I will look it up, but I hear owning rental property is not as lucrative over here as it is in the US. it will be a little hard to do, seeing as I’m starting the pay off of a 20-year mortgage next year. My accountant has brought it up, I will check it out.
I don’t know what kind of online business I am qualified for. I’m afraid I’m not much of a youtube personality, but I’m not sure if that’s the route you were thinking of? What other side gigs are there for physicians?
Do you know of any sources (books) which would have general advice for the physician who is looking to get into the sources of income you have described?
Thanks for the help!June 15, 2019 at 8:20 am MST in reply to: Financial growth strategies for physicians outside of the US #222150