Thirty-two percent of physicians had a secondary income in 2024, according to Medical Economics‘ 96th Physician Report, published Dec. 29.
Here’s a breakdown of physician’s additional sources of employment in 2024:
- Consulting: 25%
- Teaching: 20%
- Clinic work: 14%
- Market research: 14%
- Expert witness: 12%
- Medical administrator: 12%
- Hospice: 7%
- Hospital (non-ED): 7%
- Speaking: 7%
- Telemedicine: 7%
- Clinical trials/research: 3%
- Military: 3%
- Nursing home: 2%
- Emergency department/urgent care: 2%
- Locum tenens assignments: 2%
- Other medical work or non-medical work: 36%
Physicians’ estimated income from secondary sources:
- Less than $5,000: 5%
- $5,000–$9,999: 8%
- $10,000–$29,999: 22%
- $30,000–$49,999: 15%
- $50,000–$69,999: 14%
- $70,000–$89,999: 8%
- $90,000–$109,999: 8%
- $110,000–$129,999: 3%
- $130,000–$149,999: 5%
- $150,000 or more: 10%
Physicians’ primary reason for pursuing secondary income
- I like the extra income: 41%
- The work interests me: 39%
- It feels like a good way to give back: 5%
- I prefer being busy: 3%
- Other: 12%
