Rad Onc Side Gigs

[Radz08]

Our training doesn't prepare us adequately for much outside of radiation oncology...out of curiosity, what do you do for a side gig (if anything)...

Although if the field continues down the current trajectory, this may become more relevant as supplemental income! 😉

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[Haybrant]

Options trading, but would tread very carefully start with a paper account

 

[KHE88]

I have skills from a prior career I've used on and off to make some decent change on the side.

I think the way this usually works is you have a hobby that you can exploit into a niche little side business.

Given our high incomes, things like Uber or whatever are going to obviously be a waste of time. Not many things are going to be paying $300/hr +

Expert witness stuff pays pretty well ($500/hr+), but not much of that work out there.
Options trading is very risky and essentially gambling. But I've known people who have had it as a hobby and have done well. But you need a high risk tolerance.

I have known rad oncs who have gotten into the real estate business and own 10+ rental properties (I don't know why someone would want this headache). Others who have invested in restaurants and other local businesses.

Or you could just do what most rad oncs do and sell your soul to evicore for 200k and take calls in the evenings while you cook dinner and read through a checklist to deny essential care.

 

[medgator]

Medscape/opinionsite surveys. Pays out in Amazon gift cards.

 

[Neuronix]

Or you could just do what most rad oncs do and sell your soul to evicore for 200k and take calls in the evenings while you cook dinner and read through a checklist to deny essential care.

For now this seems to be the only widely available escape from clinical care while still doing something that uses your MD.

I make a couple hundred to a couple thousand a year in rad onc related consulting. I could probably use my PhD to do full-time industry or regulatory stuff, but I'm an unusual duck and those gigs don't pay what you can make treating patients in most academic gigs.

 

[RickyScott]

Sometimes, I pick coffee beans in Guatemala.

 

[OTN]

I'm on the medical advisory board for two companies (one in the clinical AI space, another in drug delivery) and the Chief Medical Officer for another (also in the AI space, but not overlapping with the first). Being a "radiation oncologist" specifically has not helped whatsoever. Being a full-time clinical "oncologist" of some type is what attracted these companies to me, as did my hustling to make tech industry contacts.

If I weren't in a city with a large and growing tech industry, none of that would have happened.

I haven't made a single dime from any of these, and there's a good chance I won't ever see any money from my involvement. However, there's also a (very small) chance I will make enough money from one of them to buy all the biryani I could ever want, and it's fun to get involved in industries other than our own from time to time.

 

[deleted1002574]

Did you get equity / RSUs as part of these agreements or are these more titular appointments in nature?

I'm on the medical advisory board for two companies (one in the clinical AI space, another in drug delivery) and the Chief Medical Officer for another (also in the AI space, but not overlapping with the first). Being a "radiation oncologist" specifically has not helped whatsoever. Being a full-time clinical "oncologist" of some type is what attracted these companies to me, as did my hustling to make tech industry contacts.

If I weren't in a city with a large and growing tech industry, none of that would have happened.

I haven't made a single dime from any of these, and there's a good chance I won't ever see any money from my involvement. However, there's also a (very small) chance I will make enough money from one of them to buy all the biryani I could ever want, and it's fun to get involved in industries other than our own from time to time.

 

[OTN]

Did you get equity / RSUs as part of these agreements or are these more titular appointments in nature?

Equity for sure. Wouldn't have done it without.

 

[Gfunk6]

In addition to what posters have typed above, you may also consider doing locums. Essentially you take PTO from your current position and instead of a vacation you sub as an RO somewhere else in the country. You can also consider taking your family if it is a vacation destination.

Early in my career I spent two weeks with my family in the US Virgin Islands around Christmas time. Best "free" vacation I ever had.

 

[medgator]

Options trading, but would tread very carefully start with a paper account

Options is pretty risky if you start getting into writing them yourself but you bring up a good point.

Self investing isn't that hard to do. Sites like motley fool and seeking alpha can show you the ropes.

If nothing else, stick money you won't need for awhile in a no fee s&p index which will pretty much beat most active fund managers.... Idiots like ackman, einhorn, jim chanos etc that have lost countless of their investors capital shorting things like Tesla when they would have been better off in a simple index.

Rather than getting into direct re ownership, you can look into REITs that diversify into different types of property (consumer, healthcare, cloud servers etc) and trade like any stock does

 

[RadOncDoc21]

In addition to what posters have typed above, you may also consider doing locums. Essentially you take PTO from your current position and instead of a vacation you sub as an RO somewhere else in the country. You can also consider taking your family if it is a vacation destination.

Early in my career I spent two weeks with my family in the US Virgin Islands around Christmas time. Best "free" vacation I ever had.

How did you cover malpractice, or was it through a company?

 

[bluebubbles]

I'm on the medical advisory board for two companies (one in the clinical AI space, another in drug delivery) and the Chief Medical Officer for another.

Typically these positions come with $ in addition to equity, but it sounds like it's mostly for fun, with infinitely more upside than March Madness.

Self investing isn't that hard to do. Sites like motley fool and seeking alpha can show you the ropes.

...no fee s&p index...

Stocks, bonds, REIT's, real estate, etc. are ways to preserve wealth, but it's not relevant unless you have a high salary job or a legit side gig with monthly cash flow or a liquidity event.

The way this usually works is you have a hobby that you can exploit into a niche little side business.

This isn't a bad way to go.

 

[Haybrant]

Typically these positions come with $ in addition to equity, but it sounds like it's mostly for fun, with infinitely more upside than March Madness.



Stocks, bonds, REIT's, real estate, etc. are ways to preserve wealth, but it's not relevant unless you have a high salary job or a legit side gig with monthly cash flow or a liquidity event.



This isn't a bad way to go.

you should have some calculated super risk in the portfolio, one of those you never know situations. Without a hand in that at all everything will be very predictable. Most people are happy though doing the same thing for 40 years which is fine but for the people that don’t want that unless you have something with major upside even if majorly risky it’s not just going to happen. Obviously this should be a very small part of your diversification though

 

[medgator]

Stocks, bonds, REIT's, real estate, etc. are ways to preserve wealth, but it's not relevant unless you have a high salary job or a legit side gig with monthly cash flow or a liquidity event.

The first one is far different from the rest. Over long periods of time (decades), stocks are the single greatest way to build wealth compared to any other asset class.

Sure it isn't a side gig, it's just a smart thing to do. S&p returned ~30% iirc last year.

Most people aren't invested outside of their retirement accounts, and many of them got burned a decade ago during the great recession, and instead of pulling out, should have doubled down

 

[RadOncDoc21]

instead of pulling out, should have doubled down

Not if you don’t want kids! 😉

 

[ivybme]

How about the consulting industry? Has anyone gotten gigs there?

 

[Gfunk6]

How did you cover malpractice, or was it through a company?

It was through a company

 

[deleted1002574]

“Consulting’s industry” is so vague as to get the sense you don’t know what you’re asking.. like saying.. “I hear there are jobs in health care. How do I get into that?l

You can be a consultant to a oncology start up, meaning selling your services for an amount of money. You can be a management consultant, which may have nothing to do with our field at all. You can “consult” for legal matters. And so on ...

So what are you asking?

How about the consulting industry? Has anyone gotten gigs there?

 

[ivybme]

“Consulting’s industry” is so vague as to get the sense you don’t know what you’re asking.. like saying.. “I hear there are jobs in health care. How do I get into that?l

You can be a consultant to a oncology start up, meaning selling your services for an amount of money. You can be a management consultant, which may have nothing to do with our field at all. You can “consult” for legal matters. And so on ...

So what are you asking?

Sorry, I'm asking specifically about management consulting, like McKinsey's APD program. Or other management consulting opportunities for advanced degrees (MD, PhD, etc.)

 

[Tigerstang]

Sorry, I'm asking specifically about management consulting, like McKinsey's APD program. Or other management consulting opportunities for advanced degrees (MD, PhD, etc.)

You can become a management consultant with your degree, but you should expect to start at the bottom, taking a significant pay cut. It's why most docs won't do it.

 

[Old rad onc]

The first one is far different from the rest. Over long periods of time (decades), stocks are the single greatest way to build wealth compared to any other asset class.

Sure it isn't a side gig, it's just a smart thing to do. S&p returned ~30% iirc last year.

Most people aren't invested outside of their retirement accounts, and many of them got burned a decade ago during the great recession, and instead of pulling out, should have doubled down

You are quite right stocks are the best. Figure out what you think will be a great stock 10 years from now and hold. My biggest holdings are AAPL, AMZN, Goog, NVDA, SHop, and TDOC as an investment is telemedicine.

Medgator good to have you back! You were missed. What did you do in your time off from here and did it give you any new perspective?

 

[deleted1002574]

Sorry, I'm asking specifically about management consulting, like McKinsey's APD program. Or other management consulting opportunities for advanced degrees (MD, PhD, etc.)

APD at McK starts you not at entry level. It starts you at MBA level. Ten years ago that was about $150-160ish before bonus, 70% travel, a bit of a bonus and no guarantees of health care engagements. To get to rad onc money requires years of hard work that is difficult for those with families. The type of brains you’ll be working with will typically run circles around you until you are about 1-2 years in. The docs there “generally” aren’t the best of the best of their employees, but the engagements like to see the M.D. Some math major quant head will he doing the heavy lifting. It’s good for some people, but most people do a few years and bounce, sometimes with one of the clients, sometimes another firm, and most leave the industry.

 

[Gfunk6]

​ ​ I am the in-house Physician Sourcer for eviCore Healthcare, a benefits management company. We have an opportunity for Associate Medical Director - Radiation Oncology to join our team of clinical reviewers, medical management team.​

​

This position offers outstanding work/life balance: 100% Remote; work from your home office NO NIGHTS, NO WEEKENDS, NO CALL Predictable, consistent work schedule Full-time and part-time opportunities (minimum of 20 hours per week to include Mondays and Fridays) Salaried position with benefits Supportive organization with collaborative culture Physician candidates must: Must be Board Certified in Radiation Oncology Have at least 5 years of clinical experience (post residency/fellowship) Have had recent clinical experience (within the past 18 months) Be licensed to practice in at least one state

 

[deleted941485]

Taxi driver...works for docs in Cuba. That and forced medical missions.

 

[Reaganite]

Everyone's favorite med onc...

 

[xrthopeful]

lmaoooooooooooooo

 

[GapCalc]

Everyone's favorite med onc...

This is just pure gold.