I’m Dr. Hassan, a Board-Certified Physiatrist and Independent Practice Owner. I help physiatrists start and grow their own profitable practices so they can achieve financial independence and live without limits.
Moonlighting is another overlooked opportunity to generate revenue and build your practice. Moonlighting can come in the form of weekend coverage for local PM&R doctors looking to have someone give them time off on the weekends.
Most rehab physicians would love to have someone cover them on the weekends to give them more free time to spend with their family. This desire for time with family creates an opportunity to generate income so that you can build your future practice.
How moonlighting works:
The most effective way to find moonlighting opportunities is to visit local acute rehab hospitals or units and simply develop relationships or just ask if the doctors that round at these facilities need someone to cover them on the weekends or would like to take some time off. It’s an agreement among individuals to provide coverage.
The doctor has a need for time (i.e., wanting to take a vacation, take the weekend off, or fulfill a family commitment), and the person providing the coverage has a need for income. As the physician providing the coverage, moonlighting allows you the opportunity to generate revenue that you can now utilize to build your own practice.
Moonlighting differs from locums in that it’s direct to consumer, so there’s no staffing agency or locums company that you go through. It’s going directly to the provider and setting up an agreement where you provide coverage and keep your collections for the patients that you see.
In the process of moonlighting, all the income or revenue you generate will be reported on a 1099 because the hospital system does not employ you. You’re independently contracting through your LLC or whatever entity you have set up.
Moonlighting is a much-overlooked way that residents or individuals who are employed and looking to branch out and be independent practitioners have available to them to generate revenue.
I am Dr. Hassan, Board-Certified Physiatrist and Independent Practice Owner. I help physiatrists start and grow their own independent practice so that they can achieve financial independence and live without limits. Please go to businessofrehab.com/guide to pick up the free guide to help you determine the best business entity for your new for physiatry practice and ensure the resale value will be great.
Attention, Physiatrists! Stop leaving money on the table. Sign up for the free video series: How To Build A Profitable Practice in 90 Days or Less: http://www.sixtytosuccess.com