There are two types of side gig incomes for doctors: Clinical (Moonlighting) and Non-Clinical. First, we will go through the landmines that can happen to Clinical side gigs:
3:07 - Landmine #1: Covenant not to Compete (Non-Compete Agreement)
8:59 - Landmine #2: Hiring Restrictions (Non-Soliciting Agreement)
11:49 - Landmine #3: Confidentiality Provision (Many times overlooked by doctors)
15:12 - Landmine #4: Patient Lists
16:18 - Landmine #5: Not getting Medical Malpractice Insurance
If you are in a side gig that is non-clinical, here are a few more landmines to keep in mind:
19:19 - Landmine #6: Jeopardizing Your Main Employment
21:04 - Landmine #7: Not having Adequate Insurance Coverage
22:09 - Landmine #8: Organizing into the Wrong Entity
26:45 - Let’s Sum up the Interview: 2-3 Things Doctors should consider:
Understand your employment agreement
MD Financial can help you go through contracts and employment agreements, reach out to us today: Info@MDFinancialAdvisors.com*
Understand minimizing your exposure, and protect yourself
Katherine Vessenes, JD, CFP®, is the founder and CEO of MD Financial Advisors who serve 500 doctors from Hawaii to Cape Cod. An award-winning Financial Advisor, Attorney, Certified Financial Planner®, author and speaker, she is devoted to bringing ethical advice to physicians and dentists. She can be reached at Katherine@mdfinancialadvisors.com.
*”Going through” contracts and employment agreements is not a legal review.