Doctors can supplement their income with the ‘gig economy’ : CBD & Orthotics
The gig economy is becoming more popular every year. The term “gig economy” refers to an arrangement defined by short-term or temporary work. This differs from the typical 9 to 5 job, but offers more flexibility and opportunities to supplement income. Gig workers can offer their skills as freelancers. Some also produce handmade products for eCommerce platforms.
Chiropractors have the knowledge to offer durable medical equipment (DME), CBD, or orthotics. Medical professionals may also engage in part-time hospital work. Even with a full-time medical practice, you can moonlight in the gig economy and supplement your income. Let’s review some of the best ways to make these tactics work for you.
Review of the gig economy
There can be some confusion about where to start when considering a part-time gig. Before addressing some of those concerns, let’s look at some stats. An online Forbes article published in 2018 said that about a third, or 36%, of American workers were engaged in the gig economy. (Reference 1)
That adds up to about 57 million people who supplement their income with freelance or contract type work. Roughly 30% of Americans make most of their money from the gig economy. These stats prove how popular this type of work is across all professions and backgrounds.
How medical professionals can enter the gig economy
Medical professionals are considered trusted authorities. This gives them an advantage when giving advice about supplements or health advice. With that said, giving advice about nutritional supplements is an easy way to add an income stream to your full-time practice. Sales of nutritional supplements around the world are growing strong. A market-research organization published a report last year that valued the supplement market at $133 billion in 2016. This figure is projected to grow to more than $220 billion by 2022. (Reference 2)
There are a few different ways that your office can profit from supplements. Many chiropractic offices see success with CBD sales and vitamin supplements to address the needs of their patients. Your patients trust you, your knowledge, and authority. They are willing to listen to your advice and buy the product that you suggest to help them with their health and wellness goals.
There is also a convenience factor here. Your office now becomes a go-to for treatment and supplements. And they can be confident that they have the right recommendation for their needs because they trust you.
You can become a resource that’s invaluable. Your patients can buy a product from you that they can’t find from other local stores. When it comes to CBD recommendations, a chiropractor can play a very important role when patients seek a trusted product that works. You can profit from the patient’s need of a product that works and that will give them the health and therapeutic benefits they are looking for.
Orthotics and patient care
Orthotic products are another option that many chiropractic offices sell to bring in extra revenue. This is especially true if your office treats athletes or people with active lifestyles. Your products can solve many of their problems. Boost performance, reduce chance of injury, and help them recover from injury. Other patients, like those with posture or gait issues, can also see the benefits from your orthotic products.
A thorough diagnosis is critical here. The patient should have a digital scan of their feet done, which reveals how their issues relate to their feet. You review the diagnosis with the patient. Then offer the right orthotics as a trusted advisor right at the office.
The future of the medical gig economy
According to a 2018 Gallup Poll, workers enjoy the gig economy is because it allows them to do the parts of a job they enjoy and disregard the tasks they don’t. (Reference 2)
Every chiropractor has different motivations when it comes to wanting to enter the gig economy. Some might want to see fewer patients. Others want to add more income streams. Still others still want to provide a better service to their patients. No matter what, there is a place for you in the gig economy and still engage in the chiropractic field.
One unique way to do this is to offer your expertise as a witness in court cases. This is a fascinating way to contribute your knowledge and skills that benefits society and gives you meaning as well. These cases could benefit a prosecuting or defense attorney. And the types of cases will range from medical malpractice, worker’s compensation, or even personal injury. There is some training that needs to be before becoming a chiropractor expert witness. Check with your state’s licensure for the requirements to see what needs to be done to meet them. is getting involved in occupational medicine in your community.
Again, there are many ways that a chiropractor can enter the gig economy. You can use your knowledge and creativity to add revenue to your practice. This can also be done as a part-time career. With all the options available to you in the gig economy, the only limitation is your own.
1. McCue TJ. 57 million U.S. workers are part of the gig economy. Forbes. Published Aug. 31, 2018. Accessed June 28, 2019.
2. Zion Market Research. Dietary Supplements Market by Ingredients (Botanicals, Vitamins, Minerals, Amino Acids, Enzymes) for Additional Supplements, Medicinal Supplements, and Sports Nutrition Applications – Global Industry Perspective,Comprehensive Analysis and Forecast, 2016 – 2022. Released April 12, 2018. Accessed June 28, 2019.