How to become a medical expert witness and other side hustles for physicians
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Key takeaways:
- Many physicians may look for another income source outside of their medical knowledge and experience.
- Becoming a medical expert witness can be a lucrative way to leverage medical expertise
Many physicians, including those employed by larger institutions and those in private practice, choose to become involved with entrepreneurial activities or engage in “side hustles” at some point in their careers.
The number of doctors following such paths are significant and only seem to be on the rise. We have no reason to think orthopedists are immune to this trend, with Sanjeev Bhatia, MD, being a “doctorpreneur” himself.
Before we delve into medical expert witnessing, let us list a few other side hustle opportunities, some of which we have covered in this column previously and some we will discuss in the future. Each has pros and cons, costs and benefits, and success factors to leverage into a significant income source:
- locums tenens work;
- moonlighting;
- telehealth outside primary job;
- consulting to industry;
- paid speaking;
- medical surveys; and
- creating a patentable medical device.
Medical expert witness
In addition, one of the side hustles that is attractive to many doctors is to become a medical expert witness, as it can be a lucrative way to leverage medical expertise. On his podcast “Wealth Planning for the Modern Physician,” David Mandell, JD, MBA, interviewed an orthopedic surgeon who replaced his income, in part, by working as a medical expert witness in orthopedic-related cases after he had become disabled and could no longer perform surgery. He gives several valuable insights. Listen to Episodes 1 and 2 of Season 5 for more detail.
Expert witness work does not need to be done only by physicians who have reduced a portion of their medical practice income. In Episode 4.4 of the same podcast (recorded in 2023), Mandell spoke with a physician at Massachusetts General Hospital and Harvard Medical School, who works as an expert witness “on the side” in addition to his clinical practice and teaching duties. In fact, he also coaches other physicians interested in exploring this type of work.
Requirements, responsibilities
Many of the following questions and answers are summarized from these two podcast conversations.
What are the requirements/qualifications to become a medical expert witness? Any doctor can be a medical expert witness, but specific qualifications will help you stand out and obtain work. Experience, reputation and expertise matter, particularly in more in-demand specialties. You will need a flexible schedule occasionally, as you may sometimes, albeit rarely, be called to testify at trial.
What does a medical expert witness do? As a medical expert witness, you share your knowledge and professional opinion in a medical malpractice case.
How much can you expect to be paid as a medical expert witness? The job of a medical expert witness can be lucrative. However, the pay ranges depend on factors like experience and specialty. Most people charge between $400 per hour (as a pediatrician or similar specialty) and $1,200 per hour (as a neurosurgeon). A nonrefundable retainer is expected. The upfront payment can be several thousand dollars. The more time you spend on a case, the more your payment will increase. As you prepare for a trial deposition, multiply your hourly rate by 10 to 20 or more (depending on the case’s complexity).
What are the primary responsibilities of a medical expert witness? Being an expert medical witness is time-consuming. You will review the medical records provided by both parties' attorneys and communicate with legal representatives and lawyers.
Once you have read the records thoroughly, researched as needed and formed your opinion, you will compile the reports used in the case. Both parties will conduct depositions, asking you questions and you may need to testify on the stand if the case is not settled outside of court.
What are some of the key traits of a great medical expert witness? In addition to being an expert in a particular area of medicine, great medical expert witnesses are entrepreneurial minded. Once your reputation is out in the legal arena, this side gig can become a thriving business, and those entrepreneurial skills will help you succeed. To get there, you should be research focused and thorough in your reviewing and reporting work.
Common mistakes
What are the most common mistakes physicians as medical expert witnesses make when they start out? Momentum matters. As your reputation begins to grow, this drives your business success. Yet, many early medical expert witnesses make common mistakes that stall or harm their ability to become successful in this profession.
Note that how you start out is important. As one of the physicians Mandell interviewed commented, “If you start out limping, you will continue to limp.” Having a mentor’s guidance can keep you from giving up too early. This person will encourage you and review your testimony as you go through the expert witness process, which can take months or years from start to finish.
Once your skills grow, treat this side job like a business. Outsource where necessary, such as hiring a virtual assistant. Know your strengths and weaknesses, and double down on your strengths instead of trying to learn and conquer your weaknesses.
What are the best ways to get work as a medical expert witness? Entering the profession of medical expert witnessing can be challenging. Go where the action is, such as attending conferences and networking to connect with others. Get the message out that you are interested in being an expert witness and let word of mouth work in your favor. Work with a mentor to build your knowledge and testimonial skills.
Many physicians may be looking for another income source they can develop out of their medical knowledge and experience. Working as an expert witness can become that for those with the inclination and entrepreneurial energy. With mentors, the use of technology, strong time management skills and a good start, physicians can build a growing income source beyond their clinical practice.
References:
Balasubramanian S. Doctors are increasingly pursuing ‘side-gigs’ — A startling commentary on the modern practice of medicine. hhttps://www.forbes.com/sites/saibala/2023/12/11/doctors-are-increasingly-pursuing-side-gigs-and-its-a-startling-commentary-on-the-modern-practice-of-medicine. Published Dec. 11, 2023. Accessed Nov. 4, 2024.
Mandell and OJM Group partners are pleased to announce the 2024 publication of their newest book, Wealth Strategies for Today’s Physician: A Multi-Media Playbook. The playbook’s innovative format features more than 90 links to videos and podcast episodes to enhance important financial topics for physicians. To receive a free print copy or ebook download, text HEALIO to 844-418-1212, or visit and enter code HEALIO at checkout.
For more information:
Sanjeev Bhatia, MD, is an orthopedic sports medicine surgeon practicing at Northwestern Medicine in Warrenville, IL. He can be reached at sanjeevbhatia1@gmail.com or @DrBhatiaOrtho.
David B. Mandell, JD, MBA, is an attorney and founder of the wealth management firm OJM Group www.ojmgroup.com. He can be reached at 877-656-4362 or mandell@ojmgroup.com.
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