Whether a physician wants to invest more for retirement or is among the 76 percent of medical school graduates who carry student debt, a side job can be attractive.
Given the lack of overhead, a position in a subacute care environment, such as a skilled nursing facility, might seem like a simple way for physicians to supplement their pay.
However, this may not be the most profitable path. Factors to consider, according to a blog on InvestingDoc.com, include:
- Limited patient numbers. Subacute care facilities typically have more than one physician or physician group visiting patients, and it can take months or even years for a physician new to such a facility to build up a patient roster.
- Uncertain need. Even after a physician takes on a given number of patients, most require visits only every one to three months over the long term.
- Time commitment. Patients are older and chronically ill, necessitating that physicians spend a fair amount of time with them and conduct difficult meetings with families more often than they might in other settings.
- The travel imperative. To acquire enough patients, a physician likely will have to work at multiple subacute care facilities. Travel expenses may not be compensated beyond tax deductions.