White Coat Investor Podcast WCI #351: Physician Side Gigs
Jan 25, 2024
Dr. Daniel Smith, a non-surgical sports medicine physician, shares insights on starting and operating an IV infusion clinic. He delves into regulatory hurdles and business logistics. Dr. Gretchen Green, a radiologist, discusses her transition to an expert witness business and teaching others, highlighting lucrative opportunities in real estate investing. Lastly, Dr. Rikki Racela, a neurologist and columnist, reveals how he earns significant income from medical surveys and interviews, emphasizing the flexibility of side gigs for work-life balance.
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Safety First For IV Concierge Services
- Screen new clients medically before providing outpatient IV therapy to ensure safety and appropriateness.
- Carry basic emergency meds and maintain liability insurance to manage rare adverse events.
Pricing & Membership Boosts Revenue
- Cash-priced wellness services can command meaningful per-visit fees (about $115 for a basic drip in this case).
- Membership or concierge add-ons lower marginal cost and increase recurring revenue.
Do Legal Homework Before Launching
- Research state regulations and competitor practices thoroughly before launching medical side businesses.
- Avoid dispensing compounded meds without physician prescriptions to stay compliant.