Passive Income Ideas For Health Informatics Specialists [2024]
Interested in earning passive income as a health informatics specialist in 2024?
We put together a few of the best passive income ideas you can start as a health informatics specialist 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 health informatics specialist.
Here's the full list:
1. Make passive income with a podcast ($97.9K/month)
Starting a podcast could be a great way to make extra money as a health informatics specialist. You could create episodes discussing the latest trends, challenges, and innovations in health informatics, which would attract listeners who are interested in your field. By sharing your expertise and insights, you could build a loyal audience over time.
With basic recording equipment like a microphone and headphones, along with a hosting platform, you could get started on a budget. As your podcast grows, you could potentially attract sponsors or advertisers, providing a steady stream of passive income. Promoting your podcast through social media and online communities will help you reach a wider audience and increase your chances of monetizing it.
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.
2. Make passive income with an online course sales business ($85K/month)
Starting an online course sales business could be a great way for a health informatics specialist to supplement their income. You already have valuable knowledge and experience in a specialized field, making you well-suited to create educational content that others can benefit from. Whether it's teaching data analysis techniques, health information system management, or best practices in electronic health records (EHR), you're likely to find an audience eager to learn from your expertise.
With the e-learning market expected to be worth over $645 billion in the next few years, there's a huge opportunity for you to tap into. By choosing a target audience, developing a course, and selecting an online learning platform to sell it, you could create a revenue stream that continues to earn money even while you focus on your main career. This could be an effective way to turn your specialized skills into lasting passive income.
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.
3. Make passive income with a health and wellness app ($108K/month)
Starting a health and wellness app could be a great way for you, as a health informatics specialist, to supplement your income and make extra money. With your knowledge of health data and technology, you could create a digital tool that offers users personalized fitness routines, nutrition plans, mental well-being exercises, and progress tracking, consolidating many wellness services into one convenient platform.
Imagine developing an app that not only reminds users to drink water but also guides them through customized yoga practices and meal plans tailored to their specific needs. Your expertise in handling health information could ensure that the app is both effective and compliant with relevant regulations. If you're passionate about health and technology, this venture offers you a meaningful way to positively impact lives while tapping into a growing market.
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.
4. Make passive income with an online survey tool ($304K/month)
As a health informatics specialist, developing an online survey tool could be a practical way to supplement your income. You have a deep understanding of data collection and analysis, which can be used to help businesses gather customer feedback effectively. This type of service is in high demand because companies need insights to make better-informed decisions.
By creating an online survey tool, you could offer businesses a user-friendly way to build surveys, collect data, and generate reports. This aligns with your existing skills in managing and interpreting data, making it a natural extension of your expertise. Furthermore, the growing popularity of online surveys means that there could be substantial opportunities to attract clients and generate recurring revenue.
Adding this as a side project could be particularly rewarding, given the case of Typeform, which achieved $70 million in annual recurring revenue by 2021. This illustrates the potential profitability and scalability of such a venture, offering you a chance to build a sustainable passive income stream alongside your existing career.
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.
5. Make passive income with an ai based business solution ($55.8K/month)
As a health informatics specialist, you could start an AI-based business solution to streamline healthcare operations and improve patient care. AI tools can help automate repetitive data management tasks, provide critical patient insights, and predict healthcare trends, ultimately enhancing efficiency and reducing costs for healthcare providers. Given your background, you would have valuable knowledge to tailor solutions to the needs of your industry.
You could leverage AI to offer services like personalized healthcare recommendations, automated patient scheduling, or real-time data analysis for clinical decision support. These solutions don't require a tech background, as many platforms offer user-friendly interfaces and robust support systems, making it feasible to get started. With the demand for AI in healthcare growing, this could be a strategic way to generate extra income while capitalizing on your expertise.
How much you can make: $4,000 — $120,000/month
How long does it take to build: 125 days (?)
Mikkelsen Twins grew an online education company from scratch with over 800 students, making over 6-figures in profit every month thanks to their successful program, Audiobook Income Academy 2.0.
6. Make passive income with an AI writing tool ($255K/month)
As a health informatics specialist, you could create an AI writing tool to generate detailed and accurate healthcare content, leveraging your expertise to make sure the information is reliable and valuable. This tool could help hospitals, clinics, and health bloggers produce high-quality articles, reports, and patient education materials with ease. By automating content creation, you could save time for professionals who can then focus more on patient care and other tasks.
Additionally, you could offer this AI writing tool as a subscription service to various health organizations, creating a steady stream of passive income. The demand for constant, quality content in the healthcare industry is growing, and by providing an innovative solution, you could significantly improve productivity and accuracy in health communications. This venture not only supplements your income but also makes use of your specialized knowledge in a practical and impactful way.
How much you can make: $4,000 — $1,000,000/month
How long does it take to build: 52 days (?)
Rytr, a new AI writing assistant developed by a startup platform and business incubator, has become a market leader, serving over 300,000 customers across the world and doing seven figures in ARR.
7. Make passive income with a lead generation tool ($108K/month)
As a health informatics specialist, you could harness your technical skills to develop a lead generation tool. This tool could help businesses automatically gather potential customer leads, streamlining the often tedious job of finding new clients. By tapping into your expertise, you could create an application that integrates with websites, social media platforms, and other digital touchpoints to collect critical information like email addresses, phone numbers, and customer preferences.
Since businesses are always looking to improve their marketing and grow their customer base, there is a high demand for efficient lead generation tools. By developing such a tool, you might not only supplement your income but also enter a profitable market segment. With your background in tech and data management, this entrepreneurial endeavor could align well with your current career, providing a valuable service while generating passive income.
How much you can make: $1,000 — $400,000/month
How much does it cost to start: $600 (?)
How long does it take to build: 90 days (?)
Dux-Soup is a LinkedIn automation tool that helps business owners and sales & marketing professionals generate more leads, increase efficiency, and save time; with over 70,000 users and revenue of nearly $5 million, it offers automated top-of-the-funnel LinkedIn outreach activities, targeted LinkedIn campaigns and multi-touch & personalized LinkedIn drip campaigns for lead generation.
8. Make passive income with a wordpress plugin business ($33.4K/month)
As a health informatics specialist, your unique understanding of healthcare systems and data management could position you perfectly to develop WordPress plugins that solve specific problems in your field. Think about the challenges you've faced in managing patient data, reporting, and integration with other health IT systems. You could create plugins that help healthcare websites streamline these processes, making your solutions highly valuable to clinics and health organizations using WordPress.
Starting a WordPress plugin business allows you to take this niche expertise and turn it into a passive income stream. You could sell your plugins on online platforms like CodeCanyon, through your blog, or by creating a dedicated website. By focusing on providing solutions to particular needs in health informatics, you could develop plugins that not only make health IT more efficient but also create a steady flow of income for yourself.
How much you can make: $120 — $120,000/month
How much does it cost to start: $5,000 (?)
How long does it take to build: 120 days (?)
Time commitment per week: Min. 5 hours/week
Wheely Sales CEO Josh created a lucky wheel popup that has grown revenue from $0 to $600/month in just 4 months since getting started and has attracted over 1.1 million users to his customers’ websites, all while proving that when it comes to creating a product, competition is validation.
9. Make passive income with a mobile app ($70.3K/month)
As a health informatics specialist, you could leverage your unique expertise to develop a mobile app that addresses specific needs within the healthcare industry. Whether it's an app that helps patients manage their medical records, a tool for healthcare providers to streamline data entry, or a resource for interpreting complex health data, your insights can make a significant impact.
Developing a mobile app doesn't necessarily mean you need to know how to code. You could either learn the basics of app development or hire a developer to bring your idea to life. With a clear plan and a focus on creating a user-friendly experience, your app could attract a wide range of users within the healthcare community.
Apps are increasingly essential in everyday life, particularly in healthcare, where technology can vastly improve patient outcomes and efficiency. By marketing your app effectively, you could reach a broad audience and potentially generate substantial passive income over time. The key is dedication and a solid strategy to see your idea through to success.
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 niche website ($107K/month)
If you're a health informatics specialist looking to make extra money, starting a niche website could be a great option. With your knowledge and skills, you could create a site focused on a specialized topic within health informatics, such as electronic health records, data analytics, or healthcare IT best practices. Providing content that helps others in your field or educates a broader audience on these topics can attract dedicated readers.
You could supplement your income through various monetization methods, like affiliate marketing, sponsored content, or even selling your own digital products, such as eBooks or online courses. Although it will require some time initially to research, create content, and optimize your site for search engines, once established, it has the potential to generate passive income. This kind of venture offers both creative freedom and the chance to leverage your existing expertise into a new valuable stream of income.
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.
11. Make passive income with an affiliate marketing business ($77.5K/month)
As a health informatics specialist, you could start an affiliate marketing business to supplement your income with minimal effort. Given your knowledge of healthcare technology and data, you could partner with companies that offer healthcare software, medical devices, or health-related courses. By promoting products you already understand and trust, you could earn commissions for every sale made through your referral links.
Your expertise in health informatics positions you to effectively target a niche audience interested in healthcare solutions. With the right strategies, such as starting a health-focused blog or creating informative content on social media, you could build a reliable source of passive income. This allows you to share valuable information while earning extra money on the side.
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.
12. Print on demand business ($411K/month)
As a health informatics specialist, you could supplement your income by starting a print-on-demand business. This business model allows you to sell custom products like apparel, home goods, and phone cases without having to invest in inventory upfront. By leveraging online marketplaces like Amazon, eBay, and Etsy, you could design unique and trendy products that appeal to global audiences and build a scalable side hustle.
Operating from the convenience of your home, you could balance this entrepreneurial venture alongside your main career in health informatics. With minimal startup costs, you can focus on your creativity and use dropshipping services to handle production and fulfillment. This venture could not only generate extra income but also provide a fulfilling creative outlet.
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.
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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.
