Part time jobs

[nephdoc]

Good morning everyone

   Long time reader and follower of WCI blog and its philosophy. I am a young physician (1 year out of fellowship). My story is like many readers here:  net worth that's very negative due to large student loan burden, etc. I took the advice from these blogs and refinanced my loans and started saving up some money for retirement. I wanted to get this community's opinion on part-time jobs. I did locums during fellowship, and I don't want to do that for now. I read from other parts on this website regarding doing insurance review claims. I am trying to find reputable jobs for this. Looking to make probably 2-3K/month if I can. Can anyone comment on this and its short/long-term feasibility as well as job details? Would love any specific job listing as well.

Thanks very much

[VagabondMD]

You did not indicate the nature of your current position. Sometimes the easiest part time job is to work more than required in your current job. Can you work extra shifts? Take call for senior partners who want more time off? Sell your vacation? These are some of the things that I did when I was younger and "hungrier".

 

[Docbeans]

What is an effective way to negotiate for these slightly unconventional services- like taking call for senior partners or selling your vacation?- start with how much they get reimbursed and add a premium for your service?

I do understand these are dictated by individual circumstances, but some anecdotes from people's own experiences may be helpful for those who are new at this.

[nephdoc]

I am in private practice group where for the first few years, I have fixed income and not much room for financial growth within the confines of the group setup. I explored silently all the things you mentioned already.

My full time job keeps me busy basically from M-F 8-6pm; I am free 3 weekends out of the month and this is when I wanted to make something extra.

[consultpsych]

In addition to my M-F 8-5 job I:

-moonlight

-do surveys (very little money here, not sure it's worth it, but for now I'll continue)

-chart/peer reviews (just started doing this ... seems promising enough)

-do more "in house" work. I've taken call for senior colleagues. During a time when we had a need on our inpatient unit (I usually do consults) I took on some responsibility on the inpatient unit in addition to my usual work, and was paid extra for each day I did that. We again have a deficit at an outside hospital that our department/group covers, and I may help cover there, and that will be compensated extra.

I would *like* to do expert witness work, but this requires some connections and I haven't "broken through" yet.

[VagabondMD]

Docbeans wrote:

What is an effective way to negotiate for these slightly unconventional services- like taking call for senior partners or selling your vacation?- start with how much they get reimbursed and add a premium for your service?

I do understand these are dictated by individual circumstances, but some anecdotes from people’s own experiences may be helpful for those who are new at this.

Click to expand...

In my group, these side arrangements are often negotiated privately. Some more common arrangements have a standard, calculated value that has been accepted by the group. While this seems hard to figure, and at times it is, it is often a matter of finding the price point that balances supply and demand (there is probably an economic term for this).

As an example, if I offered to pay $20,000 for my weekend of call, I would be overwhelmed with offers. If I offer $100 for a weekend, "crickets chirping". Somewhere in between is the point where supply meets demand.

[consultpsych]

In our system there is a set extra compensation automatically included in your paycheck for every weekend call. When I have taken call for others, I fill out the billing paperwork, and I get the extra compensation.

If your group's system is more complicated, then the solution will probably also be more complicated.

[dentoid]

I'm on staff at a hospital for dentistry. My wife and I have a lot of student loans, call is paid at $100/hour, minimum $400 for the first trip in. Unfortunately, the trauma doesn't come in at convenient hours of the day, and most offices dump the worst things on the level I trauma center. What is a breaking point from life style vs. get your butt making $? I work hard 5 days/week and come Friday am exhausted.

[G]

dentoid wrote:

I’m on staff at a hospital for dentistry. My wife and I have a lot of student loans, call is paid at $100/hour, minimum $400 for the first trip in. Unfortunately, the trauma doesn’t come in at convenient hours of the day, and most offices dump the worst things on the level I trauma center. What is a breaking point from life style vs. get your butt making $? I work hard 5 days/week and come Friday am exhausted.

Click to expand...

Well...I'm paid pretty well, but the thought of $1.67/minute for having my name on the call sheet--not counting any billing-- makes me drool like a Pavlov dog.  However, from the tone of your message, I'd say you've already figured out that it isn't worth it to you.  It's a marathon, not a sprint.

Or, perhaps take an extra call 2 days each month and apply the $100x24x2x12=$57k (say $40k after tax) to your loans each year?

[dentoid]

I reread what I stated, and I wasn't clear. I wish I was compensated that method!

 

It's paid per hour in the emergency department, or at the hospital waiting for your OR case to start or in the OR... No additional billing, just the flat rate. Most weekends you'd make up to $800 pre tax. You're not paid for the random phone calls in the middle of the night. A few weekends have been zero dollars...

 

 

[G]

That is horrible compensation.  $800 for a weekend of stress bookended by 5 days of full time work--no thanks!  Enjoy the weekend with your wife not doing dentistry.