How to Make Extra Money As a Dentist

The medical industry is well-known to be among the highest paying professions. Sometimes, however, one might need to find ways to make extra money to supplement their income for several reasons. Especially now that we are living at a time where the economy is very unpredictable. 

Having a side job has become a narrative among most people who see it as the only way to be able to make ends meet comfortably. While some side jobs are less profitable, we do have others that are well-paying. Enough even to make one decide to quit their 9-5 job. 

There are many reasons as to why one would decide to take up a second job. If you are a dentist and have been considering ways to make you extra money, we have a list of some ideas that will help you. They include;

Review Your Contract

Medical professionals are known to be well paid. Therefore, if you feel like you need to earn more, you can simply do so by reviewing your contract. 

Many times people tend to automatically renew their work contracts at the same terms as before. Do your research and find out how other dentists are paid as well as find out some of the benefits they get to enjoy. You can then use the information that you get to help you negotiate better terms for yourself the next time you need to renew your employee contract.

Move to a Larger Practice

If your organization fails to review your contract, you can as well as decide to go work in another organization, perhaps a bigger one than where you are. Besides, a change is as good as a rest!

Most often than not you will realize that larger organizations tend to pay their staff members more. This is because such practices tend to have a high volume of patients and they tend to charge a bit more than the standard rates. Therefore, if you know of any large dental organization within your area, maybe it is time you sent in your application.

Work as an Independent Dentist

Private practice has a lot of advantages. From having a flexible work schedule to being able to pocket 100% of the profits you make, private practice cannot be downplayed. Also, as an independent dentist, you will get to work on more unique one-time jobs in partnership with other dentists as well as with other organizations.

Educate Others

As an educator, your role will be to teach training dentists at institutions of higher education. Some of the training you will offer include how to take and develop x-rays, how to teach oral care to students as well as how to keep track of patient’s care and treatment plans.

If teaching is not your preferred choice, there are still a bunch of other ways in which you can offer your knowledge to others such as;

  • Writing a book/ ebook on your area of interest or specialization.
  • Create an online course – a good platform to create and teach an online course is Udemy
  • Create and Sell teaching guides to help students revise for their tests
  • Tutoring medical fellows.

Try Your Hand at Writing

If you love writing, you can use your free time to make some extra money creating medical content in your niche, dental care. There are various options available when it comes to writing, you could try writing for medical journals or work as a freelance writer curating content for health blogs and websites in your niche.

Get Social on Media

Fancy being an influencer on social media? Or perhaps a talk show guest and become a household name?

Most of us have at one point or another seen on television or heard over the radio a talk show that hosts expert doctors who come to enlighten viewers on several medical aspects. This is one fun way of making extra money as a dentist.

These days, we have many modern avenues of being a media personality such as

  • Becoming a social media influencer
  • Work as a medical consultant on mainstream media
  • Start a medical podcast
  • Start a YouTube channel that is niche-specific
  • Feature in related commercials such as a toothpaste commercial

Invest in Companies

This can easily be done through crowdfunding and stock trading.

There are many forms of crowdfunding, however, if you want to make extra money this way, you should only choose to invest in crowdfunding campaigns that have some form of reward to it, preferably, a stake in the company. This way you will be able to earn dividends from your investment if the company is successful.

Stock trading also involves buying a share of several companies. Also with this, you can earn dividends from the profits generated by the company. An example of highly profitable investment is making a real estate investment.

Start a business

These days, starting a business has become easy and cost-effective with the gaining popularity of eCommerce businesses. There are so many profitable business ideas that one can engage in, not necessarily related to your professional occupation, to make extra income. Some of which include;

A much easier way to get into business is to purchase a franchise. The initial cost of starting a franchise is extremely expensive, however, this is a safe way to start a business. Because the idea has already been put to test and has become successful, it is then almost 100% guaranteed that your business will be successful.

Other simple side hustles ideas to help you make extra money as a dentists include;

Make money with public speaking at conferences

Patent an idea for a medical device

Getting paid to take part in medical surveys

Rent ad space on your car

  • Become an Airbnb host – this is a great option if you have an unoccupied room in your house or if you have a holiday home that you do not use quite often.
  • Make money as a taxi driver – simply sign up to become a driver with one of the taxi companies available in your area and start making money during your off days.
  • Tap into your skills –  this could include photography, art, music, etc.

Bottom Line

There are so many reasons why you would want to take up a side hustle to earn extra money. Whether it is to help you supplement your income, pay for your annual trip, or just help you pay out your mortgage, there is a great possibility of making so much money with your side hustle. There are also a ton of business ideas. What you need to do is find which is best suited for you and get started on it.