Are you a medical student? Looking for a business idea? Then this article is for you! There are plenty of opportunities to make money during and after your studies. Business Ideas For Medical Students (20 Best Business ideas)
Some ideas might not be that obvious but will be enough to help you get started or grow your existing business. In general, there are three ways to make money as a medical student. A medical student can apply to do a part-time job or startup. You can even start your own business or continue working as an employee at the same time.
Business Ideas For Medical Students
Part-Time Job for Medical Students
A part-time job is ideal if you are still studying and simply want some pocket money on the side. But also after your studies, a part-time job can help finance your next steps. Here are the most common jobs medical students like to apply for:
Business Ideas For Medical Students
1) Medical Assistant
Medical assistants are often hired to work for doctors. Thus, you can already learn a lot about this industry during your studies. Furthermore, you have the possibility to gain practical experience by shadowing other medical assistants or even doing some volunteer work at hospitals or in private practice offices. After graduation, you can continue working as a medical assistant and eventually progress to other jobs in the healthcare industry.
2) Pharmacists assistant
Working as a pharmacist’s assistant is another good option for medical students. The work mainly consists of administrative tasks and providing patients with their medication after consulting with doctors or pharmacists. You can apply directly after graduation, but some employers prefer to hire assistants at least a year after graduation.
3) Clinical Research Assistant
As a clinical research assistant, you will mainly provide support to doctors during their clinical studies. This job requires good knowledge of medical terminology and an interest in clinical research. After graduation, it is possible to continue working in this position or even apply for a job as a doctor or nurse.
Receptionists are employed at hospitals, medical offices, or clinics to welcome patients and provide administrative support. Although the duties of a receptionist might not sound that exciting, this type of job is actually great for medical students as you can apply directly after graduating. Moreover, it is also possible to continue working in the same position after graduation. Business Ideas For Medical Students
5) Sales Assistant (Pharmaceutical Industry)
Medical students like to work in the pharmaceutical industry for various reasons. For one, you can learn a lot about new drugs and developments within this industry since there are plenty of options to shadow doctors or even do an internship at a pharmaceutical company. Moreover, many medical students decide to work as sales assistants in the pharmaceutical industry to gain some valuable business and communication skills.
6) English/French teacher
Working as an English or French teacher is another option for medical students who want to make some money on the side. Medical students usually already have good knowledge of these languages, so applying directly after graduation is a good option.
7) Work in a hospital
Working part-time in a hospital is a great option for medical students who want to gain experience within the healthcare industry. Therefore, you can start applying directly after graduation, but some employers prefer you to work for at least 6 months or even one year before they hire you full-time.
8) Work in a senior care facility
A job as a care assistant can also be ideal if you want to work part-time after graduation. Many hospitals or nursing homes are looking for medical students who want to help out with administrative duties or transport patients from one department to another. These types of jobs offer great flexible hours and it is possible to continue working as a care assistant after graduation.
9) Work at a hospital canteen or coffee shop
At hospitals, there are often cafeterias or small coffee shops where medical students can work part-time. The good thing about these jobs is that you only need minimal training and you can start applying directly after graduating from medical school.
10) Work in a medical center/ walk-in clinic
Working part-time at a medical center or walk-in clinic is another option for medical students who want to earn some extra money on the side. A job as an office assistant, receptionist, or nurse collaborator will give you valuable work experience and most employers accept medical students who are currently studying.
11) Medical volunteer jobs
Global medical programs are great opportunities for medical students to do some hands-on work with patients in developing countries. Working as a doctor, nurse or medical assistant is highly rewarding and most employers allow you to work part-time after graduating.
12) Work and travel
Medical students who like to travel can apply for a job as an English teacher in Asia, Australia, Europe, or North America. Many companies offer medical students jobs to teach English for one year and many doctors choose this opportunity to work abroad. The best part about these programs? You get paid and you can visit some amazing countries!
13) Work at a hospital in a foreign country
Many medical students choose to study abroad and this is also an opportunity for doctors who want to work in another country after graduating. Working in a foreign country can be really challenging, but it is definitely worth the effort. In return, you will gain valuable international experience and some employers even offer sponsorship or free accommodation.
Doctors who work abroad for more than 6 months need to do the following:
– Register with their local Registration and Licensing Authority (RLA) in their home country; this is usually the General Medical Council (GMC) in England and Wales or the Medical Board in Australia. Some countries do not allow doctors to work while their registration is still active in another jurisdiction, such as Australia and England.
– They also need to get a new license from the country they are working in. This is often issued by the authority responsible for medical practice in that country, such as the ‘Medical Council’ of Singapore or the ‘Medical and Dental Council’ of Nigeria.
– Finally, they need to ensure that their insurance policy allows them to practice in the country where they are working. Sometimes, policies only cover the doctor if he or she works for a certain period or at a certain employer (for example, NHS hospital). It is therefore advisable to check with your insurer before going overseas.
14) Work as a Permanent or locum doctor
After completing their medical degree, doctors can decide to work as a permanent staff member in a hospital, as a locum (temporary doctor at different hospitals), or work privately. The latter is also known as self-employment/self-employed and it allows doctors to set up their own practice, which they can run on their own or with the help of an English-speaking partner.
15) Work at a clinic abroad
Many doctors who work internationally set up private clinics in different countries. This is usually an option for doctors who have worked abroad for more than 5 years and it is also a great way for senior doctors to give back and make a difference in the medical system of another country.
16) Work as a GP or hospital consultant
After gaining more experience, doctors can choose to work as general practitioners (GP) or consultants at any of the hospitals mentioned above. These jobs require many years of postgraduate training and offer some of the best salaries in the medical profession.
17) Work as an oncologist, pediatrician, or infectious disease specialist
These are three specializes that require many years of postgraduate work experience. If you are thinking about specializing in oncology, then it might be wise to spend some time doing research to find out which countries are developing this area of medicine.
18) Work in your own country or abroad as a doctor
After finishing your medical degree, you can decide whether to work in the same city where you got your qualification or if it’s time for another adventure! If you want to travel, then it is best to decide beforehand whether you want to work as a GP or as a hospital consultant.
19) Work in the NHS or private health sector
The UK National Health Service (NHS) is one of the largest employers in the world with 1.7 million staff members working for it. It was established after World War II and covers primary, secondary, and some tertiary care.
The private hospitals in the UK are generally smaller than their counterparts abroad, but they offer world-class medical care to patients who choose this option. They receive referrals from the NHS as well as patients paying for their own treatment (self-paying).
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20) Work at a private health clinic
Many health clinics and hospitals around the world cater to the needs of wealthier patients who pay for their own treatment (self-paying). These can range from very small setups where you see a few patients daily to multi-million dollar corporations that employ hundreds of staff.
Working at one requires either good networking skills or experience working in the country where you are applying. It is generally advisable to have both before starting the application process.
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21) Work in a highly specialized area of medicine or surgery, e.g Cardiac or Neurology
These specialists require many years of postgraduate training and will offer some of the highest salaries for doctors with English as their first language.
22) Work in large private hospitals in the Middle East or Asia
These are some of the biggest employers in medicine around the world, with many offering free accommodation and a salary above what you could expect elsewhere. The largest hospitals have their own accommodation as well as restaurants and gyms that staff can use for free.
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Which option sounds the most interesting to you?
Let us know in the comments below.
Wishing you all the best!
The article was written by Brenda Schoon, MD of Travel Medicine South Africa. Many thanks to everyone who contributed with feedback on the previous article about medical schools that are harder to get into. This is an excellent example of how medics can collaborate together to provide valuable insight for future medical students. If you want to contribute to the next article (which will most likely be about medical student life in South Africa), please get in touch on Twitter or Facebook.
All of the above are junior doctors, with some having just finished their training and others who have been working for a few years. As mentioned before, these jobs require many years of postgraduate experience which is not something you can get without training first.
I have personally met some doctors who have worked in the UK for more than 20 years but are still junior doctors because they lack postgraduate qualifications. This is why it’s important that you focus on your education during your undergraduate studies and consider doing a postgraduate qualification.