12 Passive Income Ideas For Doctors [2024]
Interested in earning passive income as a doctor in 2024?
We put together a few of the best passive income ideas you can start as a doctor today. These will help you increase your quality of life by bringing in more income for yourself or your business.
For each income idea, we’ll show you real-world examples, revenue expectations for each idea, plus some things you might need to know before you start your passive income journey as a doctor.
Here's the full list:
1. Make passive income with an online course sales business ($85K/month)
As a doctor, you have valuable knowledge and expertise that people are eager to learn. By creating and selling online courses about medical topics, healthy living, or even tips on getting into medical school, you could generate extra income while helping others. You could also create courses on non-medical skills like time management or stress reduction, which are highly applicable in many professions.
All you need is to select a target audience, create your course content, and choose an online platform to reach potential students. The e-learning market is booming and expected to be worth over $645 Billion in the next few years, so there's no better time to create your online course. This could turn into a steady stream of passive income without taking too much time away from your busy schedule.
How much you can make: $100 — $300,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 180 days (?)
A multipreneur shares how she built a successful print on demand side hustle, generating $120,000 per year through multiple brands spread over various platforms.
2. Make passive income with a health and wellness app ($108K/month)
As a doctor, starting a health and wellness app could be a unique way to create passive income while leveraging your medical expertise. Such an app could offer personalized fitness plans, nutrition advice, mental well-being exercises, and progress tracking, allowing users to achieve their health and wellness goals conveniently. By integrating features like reminders to drink water, yoga practice guidance, and meal planning, you could offer a comprehensive virtual coach right in the user's pocket.
Creating this app would involve conducting market research, collaborating with other health experts, and working with developers for the build. Despite the initial effort, the potential to positively impact users' lives while tapping into the growing wellness market makes this a compelling venture. If you're passionate about health and technology, this could be an excellent way to contribute meaningfully while building a sustainable source of income.
How much you can make: $600 — $300,000/month
How long does it take to build: 200 days (?)
Founder and CEO of SelfDecode, Joe Cohen, explains how his company helps people discover personalized diet, supplement, and lifestyle recommendations based on DNA and lab tests; generating about $2.7 million in revenue over the past year and raising $8 million in a crowdfunding campaign, SelfDecode provides personalized health recommendations prioritized on unique genetic variants, marking the future of healthcare.
3. Make passive income with a podcast ($97.9K/month)
As a doctor, you could supplement your income by starting a podcast where you share your medical expertise and experiences. By choosing a specific niche, such as wellness tips, medical innovations, or patient stories, you could attract listeners who are interested in health-related topics. This could establish you as a trusted authority in your field while reaching a broader audience.
All you need to begin are basic recording tools like a microphone and headphones. Publishing your episodes on a hosting platform and promoting them through social media or online medical communities could help grow your audience. Over time, you could attract sponsors or advertisers, turning your podcast into a source of passive income.
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.
4. Make passive income with a YouTube channel ($72.1K/month)
Starting a YouTube channel could be a great way for you to share your medical knowledge or other passions while earning extra income. Imagine creating videos on topics you’re already familiar with, like health tips or in-depth medical explanations, and reaching a wide audience. This could potentially earn you money through ads, sponsorships, and even selling your own branded merchandise.
Though it requires a commitment to regularly create and edit engaging videos, the potential rewards are significant. Your professional insight could attract a substantial following, making your channel both an educational resource and a profitable venture. This endeavor allows you to leverage your existing expertise while exploring a creative outlet.
How much you can make: $2,000 — $333,333/month
How much does it cost to start: $5,250 (?)
How long does it take to build: 30 days (?)
This case study follows the journey of a young entrepreneur from Nigeria who started a profitable blog generating a monthly revenue of $1,500+ through sales of advertising space, sponsored posts, and information products, and shares his strategies for success including a Twitter growth challenge and guest post pitches.
5. Make passive income with a niche blog ($31.5K/month)
Starting a niche blog could be a great way for you, as a doctor, to supplement your income while sharing your medical expertise or interests with a broader audience. You could focus on a healthcare-related niche, such as tips for healthy living, insights into specific medical conditions, or advice for medical students. This allows you to leverage your specialized knowledge to provide valuable content for readers who seek trusted information.
To monetize your blog, you could include affiliate links to relevant products, collaborate with health-related brands, or even grow a YouTube channel with medical advice videos. As your blog gains visibility and followers, you may also have opportunities to speak at medical events or conferences, further establishing your authority in the field. Engaging content and regular interaction with your followers will be crucial for your blog's success, and your passion for your niche will help you stay motivated.
How much you can make: $100 — $650,000/month
How much does it cost to start: $650 (?)
How long does it take to build: 60 days (?)
Starter Story grew to 1.4 million monthly visitors and millions in annual revenue by sharing the stories of entrepreneurs. Pat breaks down the early days and how he grew the business into something that changed his life.
6. Make passive income with a niche website ($107K/month)
Starting a niche website could be an excellent way for you as a doctor to supplement your income and share your expertise. Imagine creating a site centered around a medical specialty you are passionate about, such as holistic health, pediatric care, or mental health. This platform allows you to produce content that can help educate and support a dedicated audience, drawing from your extensive knowledge and experience.
The process involves selecting a specific topic within your medical field, creating informative and engaging content, and using strategies like SEO to attract visitors. Over time, you could generate income through various monetization methods like affiliate marketing, advertising, or selling digital products like e-books or courses. If you’re motivated and enjoy the idea of sharing valuable information while earning extra money, a niche website could be a rewarding venture.
How much you can make: $400 — $250,000/month
How long does it take to build: 60 days (?)
DPW (Digital Procurement World) is a fast-growing conference and community in procurement that has more than tripled in revenue since launching in 2019, capping out the year at €1.8 million, with 95% of their growth coming from inbound traffic leveraging LinkedIn and applying social selling techniques.
7. Make passive income with an affiliate marketing business ($77.5K/month)
You could supplement your income as a doctor by starting an affiliate marketing business. This side hustle involves promoting other companies' products and services online, earning you a commission for each sale generated through your referral. Over time, this can turn into a steady stream of passive income.
To get started, you'll need to learn how to find the right products and brands to partner with. For example, you might choose to become an affiliate for an eCommerce store or a healthcare-related manufacturer, marketing their products to your network and audience. This could be a practical way to leverage your medical expertise and professional network while earning extra money outside your regular practice.
How much you can make: $500 — $773,000/month
How much does it cost to start: $700 (?)
How long does it take to build: 60 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. Make passive income with a stock photography business ($14.6K/month)
Starting a stock photography business could be a sensible option for you as a doctor to supplement your income. With your demanding schedule, this side hustle offers flexibility; you could take high-quality photos during your free time or when you're traveling. Your medical environment also offers unique opportunities to capture images that are in high demand, such as medical equipment, healthcare settings, and professional headshots.
Building an impressive portfolio of stock photos could lead to a steady passive income. All you would need is good photography gear and some basic knowledge of what stock photos sell best. Having an online presence could aid in selling your photos faster and at more profitable margins, making this a manageable yet lucrative side business.
How much you can make: $1,200 — $45,000/month
How much does it cost to start: $3,500 (?)
How long does it take to build: 60 days (?)
Pro Photo Studio founder Tsour Lee Adato shares how she turned a $5k investment into a business that services over 500 clients annually and makes approximately $350k per year with plans to expand and become a 7-figure business while offering advice to fellow entrepreneurs to always be innovating, learning and growing, and not to undervalue themselves.
9. Make passive income with a mobile app ($70.3K/month)
As a doctor, starting a mobile app could help you supplement your income by bringing innovative solutions to your patients or colleagues. You could design an app that provides medical advice, tracks health metrics, or offers telemedicine services, leveraging your expertise to meet user needs. Consider an app that reminds patients to take their medication or educates them about various health conditions—these types of applications could gain significant traction due to their real-world value.
Creating a mobile app requires a clear vision and some basic coding knowledge, or you could hire a skilled developer to help bring your idea to life. Your main focus will be on planning the user experience, designing engaging interfaces, and testing for bugs. If your app solves an everyday problem or entertains users, it could generate substantial passive income over time.
How much you can make: $1 — $500,000/month
How long does it take to build: 180 days (?)
BACH, an app that plans and books bachelorette parties, has grown from $0 to >$1M net revenue run rate in less than 6 months, gained over 100,000 users in their first 60 days, and has over 40,000 parties using the app this month.
10. Make passive income with a real estate investment firm ($398K/month)
As a doctor, starting a real estate investment firm could be a practical way to supplement your income and build long-term wealth. This business involves buying, managing, and selling properties to turn a profit. By leveraging your current income, you can invest in lucrative properties, negotiate deals, oversee renovations, and manage rentals or sales.
The real estate market offers significant profit potential, with properties like homes, commercial buildings, and vacant land often appreciating over time. Additionally, rental properties can provide a steady stream of supplemental income, which can be particularly appealing if you're considering ways to boost your financial security without compromising your medical practice.
If you're passionate about real estate and have a good eye for identifying valuable properties, this venture could yield impressive financial returns. Success will require diligent market research, strategic planning, and careful management, but the rewards can be substantial.
How much you can make: $10,000 — $1,500,000/month
How long does it take to build: 210 days (?)
Equity Residences is a luxury real estate investment fund that has raised $40 million from over 200 investors, offering them access to a portfolio of luxury vacation homes for investment and personal use, with a minimum investment of $161,500 and plans to acquire a further twenty residences ranging from $1.5M to $4M.
11. Print on demand business ($411K/month)
Starting a print-on-demand business as a doctor could be a practical way to supplement your income and tap into your creative side. Since there's no need for upfront inventory, you'd avoid significant initial expenses, making it easier to get started. This model uses dropshipping, so products like custom apparel and home goods are only printed and fulfilled when someone places an order.
By leveraging platforms like Amazon, eBay, and Etsy, you could design unique, trendy products and sell them to a global audience. This allows you to monetize your creativity without the need to manage physical stock. Operating this side venture from home with minimal startup costs could make it a flexible and scalable option, fitting well with the demands of a medical career.
How much you can make: $200 — $3,000,000/month
How long does it take to build: 30 days (?)
Time commitment per week: Min. 5 hours/week
Founder Roy Kirchner shares how he started an eCommerce business specializing in 3D printing with an initial investment of $65,000, which now averages monthly gross sales of $330,000 and has partnered with international manufacturers and local businesses while offering technical support and education.
12. Make passive income with an online survey tool ($304K/month)
As a doctor, developing an online survey tool could be an excellent way to supplement your income and make extra money. Healthcare organizations, pharmaceutical companies, and medical research institutions are always looking for ways to gather valuable data from patients and the general public. By creating a user-friendly and effective survey tool, you could meet this demand while tapping into a growing market.
For instance, a popular online survey platform like Typeform has shown significant financial success, with its annual recurring revenue surpassing $70 million in 2021. Similarly, your tool could offer features like a survey builder and a robust reporting system to attract business clients. This venture not only provides passive income opportunities but also leverages your medical expertise to create meaningful, data-driven solutions in healthcare.
How much you can make: $40 — $1,600,000/month
How long does it take to build: 180 days (?)
GreenRope, a self-funded CRM and marketing automation platform with over 1,000 customers in 20 countries, was built organically and focused on creating a positive, customer-centric culture without outside investment, with an all-in-one interface solving challenges in managing sales, marketing, customer service, and operations.
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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.
