How to Make 6 Figures As A Physician? (11 Best Ways in 2024)
So you want to make six figures as a Physician? Good for you! Being a Physician is a highly respectable and well-paid profession, and there's no reason why you can't earn a high income if you put your mind to it.
In this blog post, we'll look at some of the best ways to make more money as a Physician - business ideas you can start to achieve such income. Keep reading to learn more!
1. Digital products ($261K/month)
As a physician, supplementing your income with digital products could offer a lucrative avenue to make six figures. By leveraging your medical expertise, you could create and sell information-based products like ebooks, online courses, or even membership sites tailored to healthcare professionals or patients seeking specialized knowledge. This not only enhances your credibility but also opens up new revenue streams.
Digital products are particularly appealing because they are easy to create and share. You don't have to worry about inventory management or physical space, and you can sell directly from your website. Whether it's a medical app, educational content, or an online community, the possibilities are endless, and the low overhead makes it a smart entrepreneurial venture.
How much you can make: $10,417 — $1,766,666/month
How much does it cost to start: $5,000 (?)
How long does it take to build: 60 days (?)
FilterGrade is an eCommerce platform offering digital assets such as photo filters and video templates; attracting over 450,000 monthly users and generating approximately 30k a month, the founders worked hard to build a valuable marketplace for creators while focusing on digital marketing, partnerships, and content creation.
2. Create an online course ($91.9K/month)
Creating an online course could significantly supplement your income as a Physician by leveraging your specialized knowledge in a flexible and scalable way. By identifying educational gaps in medical topics where you have expertise, you could develop engaging video lessons and supplementary materials to teach these niche subjects.
Building a student base allows you to generate passive income through either self-paced or cohort-based courses. With minimal startup costs, launching an online course platform is a lucrative avenue for entrepreneurial-minded physicians who enjoy sharing information and engaging with eager lifelong learners.
How much you can make: $350 — $1,000,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 88 days (?)
Learn how one couple created a successful personal finance blog, The Savvy Couple, that now makes over $20,000 per month and has sold thousands of digital workbooks and courses, by focusing on purposeful content and optimizing their ROI with efficient time management.
3. Start a youtube channel ($146K/month)
Starting a YouTube channel could be a lucrative way for you as a physician to supplement your income. You could share your medical expertise, educate the public on health issues, and provide insights into the daily life of a physician to attract a wide audience. Given YouTube's established monetization system, reaching the platform's minimum requirement of 1,000 subscribers and 4,000 watch hours in 12 months could set you up for substantial revenue generation through ad revenue and sponsorships.
Furthermore, discussing real-life case studies, offering medical advice, or debunking health myths could resonate well with viewers, boosting your channel's growth. Embrace content creation by developing engaging and informative videos, and you could turn your YouTube channel into a significant source of extra income, potentially contributing to a six-figure salary as a physician.
How much you can make: $800 — $1,000,000/month
How much does it cost to start: $750 (?)
How long does it take to build: 90 days (?)
Time commitment per week: Min. 5 hours/week
Learn how this entrepreneurial couple made $5-7k a month by helping others find legitimate work from home jobs and creative ways to make money online through their blog and YouTube channel, as well as offering two flagship products designed to help beginner freelancers and new bloggers accelerate growth.
4. Start a podcast ($97.9K/month)
Starting a podcast could be a lucrative way to supplement your income as a physician. By creating and producing engaging audio content, you could tap into a popular platform for entertainment and information-sharing. Choose a niche relevant to your medical expertise, such as health tips, wellness advice, or industry insights, to attract a dedicated audience.
With basic recording equipment and an affordable hosting platform, you could produce high-quality episodes without a significant initial investment. As your audience grows, you might attract sponsors or advertisers, generating additional revenue. Promoting your podcast through social media, online communities, and word of mouth could further enhance its reach and earning potential.
How much you can make: $400 — $1,020,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 60 days (?)
Time commitment per week: Min. 2 hours/week
A successful podcast production company that grew from one client making $15/hour to a team of 10 contractors producing over 30 shows per week with revenue of over $10k/mo, primarily through referrals and with a focus on providing high personal touch and being picky about working only with clients who are a good fit.
5. Start a career coaching business ($48.5K/month)
Starting a career coaching business could significantly supplement your income as a Physician, enabling you to make six figures by leveraging your extensive professional experience. Offering personalized guidance on resume building, interview preparation, and workplace advancement, you could help clients navigate their own career transitions and growth opportunities with expertise and empathy.
With the flexibility to conduct these coaching sessions in-person or virtually, you could build a diverse client base and provide specialized advice and accountability tailored to each individual's aspirations. If you have a natural talent for speaking and a knack for human resources, launching a coaching practice allows you to monetize these skills while setting your own schedule.
How much you can make: $1,000 — $235,000/month
How much does it cost to start: $1,500 (?)
How long does it take to build: 60 days (?)
Wall Street Oasis, the largest online community focused on careers in finance, has over 100 million visitors during its 14-year history and is currently receiving over 2 million visits per month, offering interview courses and mentorship services, in addition to building and investing in a thriving online community.
6. Start a freelance writing business ($65.5K/month)
As a physician, starting a freelance writing business could be a lucrative way to supplement your income and potentially make six figures. Leveraging your medical expertise, you could write health-related articles, medical research summaries, or even contribute to medical blogs, utilizing your specialized knowledge to produce high-quality content that is in demand.
Freelance writing offers the flexibility to set your own schedule, allowing you to work from home at any time that fits around your medical practice. With strong writing skills, the ability to meet deadlines, and staying current with writing trends and tools, you could excel in this field by providing valuable, niche-specific content.
Moreover, as a self-starter with proper communication skills, you could establish a successful side business that not only adds to your primary income but also builds your reputation as a thought leader in the medical community.
How much you can make: $700 — $500,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 56 days (?)
How David Tile turned a freelance writing gig into an $80k/month business, discussing lessons learned through managing growing demands and maintaining a remote team operation.
7. Become an affiliate marketer ($55.3K/month)
Starting an affiliate marketer business could be a lucrative way for you, as a physician, to supplement your income and work towards making six figures. This low-cost venture involves promoting other companies' products or services and earning commissions on sales generated through your referrals.
Given your expertise and trustworthiness in the medical field, you could target products and services related to health and wellness, which can offer higher commissions and better engagement with your audience. With a minimal upfront investment, you could leverage your medical credibility to drive traffic and sales, thus maximizing your passive income opportunities.
By participating in affiliate programs, you could receive unique tracking links to monitor your success and ensure you receive commissions for each successful referral. This flexible side business allows you to use your marketing skills without the need for product creation or ownership, making it an ideal choice for an entrepreneurial physician looking to diversify their income streams.
How much you can make: $18,000 — $83,000/month
How much does it cost to start: $100 (?)
How long does it take to build: 150 days (?)
This case study explores how Spencer Mecham founded Buildapreneur, an affiliate marketing business, and has made over half a million dollars in profit with no employees, relying solely on content marketing through platforms like Facebook, YouTube, and TikTok.
8. Start a social media marketing agency ($116K/month)
Starting a social media marketing agency could be an excellent way to make six figures as a physician. With a well-developed social media marketing strategy and effective use of automation tools, you could manage your time efficiently and provide your services to clients without overwhelming your primary medical practice.
By leveraging your existing network and professional reputation, you could create a strong agency portfolio that attracts clients interested in social media management. Whether you're looking to cover your utility bills, finance further education, or save for a vacation, this side business could generate significant extra income. This entrepreneurial venture not only supplements your existing income but also diversifies your financial streams, enhancing your overall financial security.
How much you can make: $1,000 — $500,000/month
How much does it cost to start: $7,500 (?)
How long does it take to build: 60 days (?)
Time commitment per week: Min. 30 hours/week
How David Tile turned a freelance writing gig into an $80k/month business, discussing lessons learned through managing growing demands and maintaining a remote team operation.
9. Become a social media influencer ($57.4K/month)
As a Physician, starting a social media influencer career could supplement your income significantly by leveraging your medical expertise and credibility to engage a broad online audience. By creating valuable content on platforms like Instagram, YouTube, and TikTok, you could attract followers who are interested in health and wellness, enabling you to partner with brands seeking access to your dedicated audience.
These brand partnerships could translate into lucrative sponsorship deals, product endorsements, and paid collaborations, contributing significantly to your overall income. Furthermore, your existing credentials as a Physician enhance your authority, making it easier to build a loyal following and secure monetizable opportunities.
How much you can make: $2,500 — $166,666/month
How much does it cost to start: $800 (?)
How long does it take to build: 155 days (?)
How one mother built a profitable frugal motherhood, life, and travel blog from scratch, using Instagram, Pinterest, and paid sponsorships to grow from 0 to 18.5K followers and generate $1,500-$3,000 per month in less than two years.
10. Start a blog ($44.9K/month)
Starting a blog could help you reach six figures as a Physician by allowing you to share your expertise with a broader audience. Blogging can become a highly lucrative and location-independent business, giving you the flexibility to work at any time and from anywhere. With blogs ranked as the 5th most trustworthy source for online information and 77% of internet users reading blogs, there is a vast audience eager for reliable medical content.
By focusing on a niche you are passionate about and implementing an effective content strategy, you could attract a substantial readership. With approximately 409 million people viewing over 20 billion pages each month, a well-crafted blog has the potential to generate significant ad revenue, sponsored content, and even direct monetization strategies like eBooks or online courses. This side hustle could not only supplement your income but potentially grow into a full-time business venture if managed strategically.
How much you can make: $100 — $650,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 30 days (?)
Time commitment per week: Min. 5 hours/week
Learn how one couple created a successful personal finance blog, The Savvy Couple, that now makes over $20,000 per month and has sold thousands of digital workbooks and courses, by focusing on purposeful content and optimizing their ROI with efficient time management.
11. Start an ecommerce store ($287K/month)
Starting an ecommerce store could be a lucrative way to supplement your income as a physician while leveraging the advantages of online retail, such as lower overhead costs and increased flexibility. As ecommerce continues to boom, you could tap into a broader audience without the need for a physical storefront, enabling you to manage your store from anywhere, even during your downtime at the clinic or hospital.
You could sell a variety of products, from medical supplies and wellness products to niche items related to your personal interests or expertise. The convenience and efficiency of online shopping make it easier for consumers to purchase your products, increasing your chances of generating significant revenue. By setting up a website, payment processing software, shopping cart software, and inventory tracking, you could create a seamless shopping experience that attracts and retains customers, potentially helping you reach that six-figure mark.
How much you can make: $350 — $13,500,000/month
How long does it take to build: 120 days (?)
Time commitment per week: Min. 5 hours/week
Southern Elegance Candle Company, founded by D'Shawn Russell, started as a side hustle making around $200 per weekend at a local Farmers Market, but now averages approximately $20,000 per month in sales across their retail site, wholesale site, and Faire.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
