If you have ever Googled how much do dermatologists make, you probably have a fair idea that it’s more than what most people earn in almost any other field of work. In fact, the only professionals who earn even more than dermatologists are surgeons and anesthesiologists mostly. It’s no secret that doctors make a lot of money and they basically top the chart when it comes to highest earning professionals in the United States. That however, doesn’t mean that someone with a medical degree shouldn’t start a small business of their own. In fact, the right business might be exactly what they need to fall back on, should the work ever prove to be too stressful. On that note, let us now take a look at four business ideas which would suit a medical professional perfectly.
Launch a Clinic of Your Own
The prerequisites might vary depending on your nation of residence, but launching a clinic of your own is one of the most obvious choices. It doesn’t necessarily have to be a big one right away, but the fact that it was conceptualized and is being run by a doctor should give it an edge in reputation right away. You can either choose to make it a multispecialty clinic or you can just concentrate on any one field like a dermatological facility for example.
CRO stands for Contract Research Organizations and you could start one of your own if you want to. Just as the name suggests, CROs are contractual organizations with their own research facilities, which they use to facilitate research on behalf of their clients. The client base consists primarily of pharmaceutical companies, biotechnological companies and medical equipment manufacturers. If your CRO manages to get a decent foothold, it can turn into a very profitable business.
Nursing Facility or Services
Depending on the budget, you can either start a service where you provide patient parties with nurses registered under your organization, or you can start a private nursing care facility of your own. Of course you can do both simultaneously as well, if you have the necessary budget and resources to pull it off. You would be surprised how many people prefer to stay at a private nursing facility, rather than a full blown hospital.
Manufacture or Sell Medical Equipment
Once again, it depends on your budget and resources, but even if you don’t really have enough of them to start manufacturing, you can always retail or supply what’s already there. Anything from the simple weight scale to MRI machines; hospitals and clinics need them all the time and a doctor or a nurse who not only understands these machines, but also has the necessary connections to make deals happen, can start a very lucrative business here.
A huge advantage of starting a business as a medical professional is the fact that once you have another established source of income to rely on, you can dedicate your time and skills towards providing medical care to those that cannot afford to do so on their own. The duty of a medical professional goes beyond just the professional aspect and strangely enough, starting your own business can actually help you fulfill that humanitarian duty as well.