Why You Should Work Part-Time as a EM Physician or Hospitalist

Just like any other business, a practice does not start out making a profit. It truly takes time – years, in fact, to build a financially stable medical practice. Due to the low-profit margins of working in a private practice, it may take two to three years just to begin breaking even. 

This may, in fact, be the cause of so many new physicians getting hospital jobs versus going into private practice. ​Start-ups take a lot of time and money and if you are not prepared for the level of commitment it takes and the fact that you will not be making any money for several months or years then starting a private practice may not be for you.  There are many organizations that would love someone to join their already established team of physicians.

For those, however, that choose to take the leap into private practice, there are a few ways to keep your practice afloat during the stage of building a patient base and becoming profitable.  Keep in mind that in the beginning, many physicians have to perform most of the administrative and clinical tasks in order to keep expenses at a minimum. The most important tasks aside from practicing medicine are marketing and billing. While these are essential, they do not generate revenue.  

Fortunately, moonlighting is a great way for physicians to generate an income while their practice is still in its beginning stages of growth. There are two specific areas that physicians can make excellent part-time income:

  1. Emergency Medicine
  2. Hospitalist Medicine

1

Cultura-RMJoho.jpg
Cultura-RMJoho/Getty Images

Emergency rooms all over the US are experiencing a shortage of emergency medicine physicians.  This makes emergency medicine an excellent choice for helping you support you medical practice during its infancy. 

In case you didn’t know, supply and demand is a fundamental concept of economics.  The relationship between supply and demand determines the price.  In emergency medicine, the supply (emergency medicine physicians) is lower than the demand (the need for emergency medicine physicians) which means that hospitals are willing to pay a higher price (wages). 

According to salary.com, emergency medicine physicians make an average of $257,856 per year.  While this reflects a full-time emergency medicine physician’s salary, obviously, working part time, nights or weekends could still provide substantial income to help a growing practice stay in business.

What Does It Take to Be an Emergency Medicine Physician?

So what does it take to work as a part-time or Locum Tenens in a hospital emergency room?  Depending on state or hospital guidelines, there may be some limitations to working as an emergency medicine physician.  Typically, you can work as an emergency medicine physician with one of the following specialties:

  • Emergency Medicine
  • Family Practice
  • Internal Medicine
  • General Surgery

More

2
Hospitalist Medicine

Seb-Oliver.jpg
Image courtesy of Seb Oliver/Getty Images

The demand for hospitalists is beginning to grow as more and more hospitals rely on these professionals to handle the inpatient care for its patients.  This can also be done on a part-time basis. 

 According to salary.com, hospitalist physicians make an average of $206,480 per year.  While this reflects a full-time hospitalist physician’s salary, obviously, working part time, nights or weekends could still provide substantial income to help a growing practice stay in business.

What Does It Take to Be a Hospitalist Physician?

So what does it take to work as a part-time or Locum Tenens for hospital inpatient care?  Depending on state or hospital guidelines, there may be some limitations to working as a hospitalist physician.  Typically, you can work as a hospitalist medicine physician with one of the following specialties:

  • Internal Medicine
  • Family Practice

Continue Reading