Any pharmacist side hustle ideas to get 1099 income (not w2)

[jon do]

Looks like not much at all out there. Even that "uber-like" MTM consulting company not hiring for years (i forget the name)
Any pharmacist side hustle ideas to get 1099 income (not w2)?
To get better tax write offs. Not looking for full time work.

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[owlegrad]

Write articles. Super easy, barely an inconvenience.

 

[Dred Pirate]

also

Write articles. Super easy, barely an inconvenience.

also interested - not looking necessarily for something that pays more per hour (that will be hard to get) but looking for something that I can do when I want and as much (or little) as a I want to allow me to cut hours back on my "real job" and eventually use when I retire early to get the brain busy and bring in some $$ to pay for health insurance, etc.

Who do you write for? how do you get started, etc

 

[letsquitpharm]

There are numerous 1099 opportunities in software dev, IT, cybersecurity, biostats, etc that pay really well and aren't necessarily a 9-5 commitment.

 

[owlegrad]

also

also interested - not looking necessarily for something that pays more per hour (that will be hard to get) but looking for something that I can do when I want and as much (or little) as a I want to allow me to cut hours back on my "real job" and eventually use when I retire early to get the brain busy and bring in some $$ to pay for health insurance, etc.

Who do you write for? how do you get started, etc

Good question. All my writing opportunities have come from knowing people that need stories written. Perhaps check out writing opportunities for any magizines or websites you enjoy reading? It seems to me I get a ton of junk mail and emails from websites that have vaguely medical topics, someone must write those articles. Although I guess CHATGCP or whatever that is might put this opportunity to bed soon enough.

 

[sunnyandseventytwo]

Good question. All my writing opportunities have come from knowing people that need stories written. Perhaps check out writing opportunities for any magizines or websites you enjoy reading? It seems to me I get a tone of junk mail and emails from websites that have vaguely medical topics, someone must write those articles. Although I guess CHATGCP or whatever that is might put this opportunity to bed soon enough.

The chatbot is also going to put letsquitpharm out of business (at least on this forum).

Hey everyone,

I just wanted to share my success story with all of you and let you know that it is possible to have multiple streams of income. As a pharmacist, I always knew the importance of having a backup plan and that's why I decided to learn some IT skills on the side.

And let me tell you, it has paid off big time! I have been able to secure several side IT jobs and the extra income has been a game-changer for me and my family. I am proud to announce that I have made over $500,000 in the past year by combining my skills as a pharmacist and IT professional.

This just goes to show that it's never too late to learn new skills and add value to your career. If you have a passion for something, go for it! You never know where it might lead.

Best regards, A proud pharmacist and IT professional.

 

[letsquitpharm]

The chatbot is also going to put letsquitpharm out of business (at least on this forum).

Hey everyone,

I just wanted to share my success story with all of you and let you know that it is possible to have multiple streams of income. As a pharmacist, I always knew the importance of having a backup plan and that's why I decided to learn some IT skills on the side.

And let me tell you, it has paid off big time! I have been able to secure several side IT jobs and the extra income has been a game-changer for me and my family. I am proud to announce that I have made over $500,000 in the past year by combining my skills as a pharmacist and IT professional.

This just goes to show that it's never too late to learn new skills and add value to your career. If you have a passion for something, go for it! You never know where it might lead.

Best regards, A proud pharmacist and IT professional.

Lol, nice try, but I never identified myself as a "pharmacist" just to let you know, and "IT professional" is such a lame term that sounds like the person still uses it live in a cave or something. I don't think anyone would be "proud" to be a pharmacist these days. Software dev is not my side jobs either, but ~80% of my daily work. I am already effectively of pharmacy years ago lol.

ChatGPT has good potential replacing drug counseling btw, effectively rendering pharmacists glorified techs tho.

 

[mentos]

Lol, nice try, but I never identified myself as a "pharmacist" just to let you know, and "IT professional" is such a lame term that sounds like the person still uses it live in a cave or something. I don't think anyone would be "proud" to be a pharmacist these days. Software dev is not my side jobs either, but ~80% of my daily work. I am already effectively of pharmacy years ago lol.

ChatGPT has good potential replacing drug counseling btw, effectively rendering pharmacists glorified techs tho.

Okay so I've been living in a cave, can someone explain to me what the hell ChatGPT is? So instead of walking into their local CVS for a consult, my grandma can whip out ChatGPT on their phone instead? Can providers ask ChatGPT for recommendations instead of pharmacists?

 

[letsquitpharm]

Okay so I've been living in a cave, can someone explain to me what the hell ChatGPT is? So instead of walking into their local CVS for a consult, my grandma can whip out ChatGPT on their phone instead? Can providers ask ChatGPT for recommendations instead of pharmacists?

It's a chatbot invented by OpenAI, which partners with Microsoft. It's under public testing, and Microsoft CEO has announced Bing, Azure, Office and other products they see fit will start integrating ChatGPT.

You can try asking drug info questions. I did, and it gave me fairly accurate responses to the ones I threw at it, which I think might be directly sourced from drugs.com or alternatives. As long as there are concrete solutions found on the web, the responses tend to be reliable. There are extensions out there. I installed a chrome extension and it is so far doing an amazing job.

Providers don't ask pharmacists for recommendations often anyways. In my APPEs, doctors make drug of choice and dosing decisions, and pharmacists were there just to be a placeholder and pretend to be another nurse-like role.

 

[sunnyandseventytwo]

Providers don't ask pharmacists for recommendations often anyways.

That made me laugh.

 

[mentos]

Providers don't ask pharmacists for recommendations often anyways. In my APPEs, doctors make drug of choice and dosing decisions, and pharmacists were there just to be a placeholder and pretend to be another nurse-like role.

Huh? Have you ever worked in a hospital? Can't tell you how many times I've had providers call for help with vanco dosing or antibiotic recommendations.

 

[Dred Pirate]

Providers don't ask pharmacists for recommendations often anyways. I

come work with me

 

[Dred Pirate]

Huh? Have you ever worked in a hospital? Can't tell you how many times I've had providers call for help with vanco dosing or antibiotic recommendations.

your docs even try to dose vanc??

ours don't - but even they do we can just change any dose of any abx to what we want without asking

 

[letsquitpharm]

Huh? Have you ever worked in a hospital? Can't tell you how many times I've had providers call for help with vanco dosing or antibiotic recommendations.

I didn't work a hospital, and my training experience at an academic hospital was limited to gen med and nephrology.

That being said, docs and residents I came across with were very familiar with antibiotics. I was once lectured by an attending physician who was very well published in ID.

 

[letsquitpharm]

come work with me

I bill $100/hr * N even if I lie on bed all day...

 

[Rockinacoustic]

ChatGPT would have me looking for a side hustle if I was a code monkey

 

[BC_89]

Providers don't ask pharmacists for recommendations often anyways. In my APPEs, doctors make drug of choice and dosing decisions, and pharmacists were there just to be a placeholder and pretend to be another nurse-like role.

We've been down a similar road remember? Comparing different careers while playing it out as if you had superb experience in pharmacy?

I didn't work a hospital, and my training experience at an academic hospital was limited to gen med and nephrology.

I didn't work a hospital, so therefore I conclude that providers don't ask pharmacists for recommendations often...

Ok. got it.

You can try asking drug info questions. I did, and it gave me fairly accurate responses to the ones I threw at it

Dr. Google can be fairly accurate as well I suppose.


That aside -

Is ChatGPT Healthcare's Next Big Thing?

It is an interesting approach of gathering information. At least the algorithm is recognized on having it's limitations:

Users also need help with accuracy in answers fielded by the algorithm. ChatGPT has been known to make up references or factually provide incorrect information. And unlike human interactions that may admit uncertainty, this model may disperse wrong, biased, or unsuitable responses without caveats for potential error.

So...yeah, I don't foresee ChatGPT replacing drug counseling anytime soon. I would wager Dr. Google is doing better and has yet to do it either. Let's talk in 10 years and re-visit this once the kinks are fixed? Maybe then it'll automatically spit answers based on current studies and not studies of yesterday? who knows...

As far as a side-hustle, I reported my 1099-INT gain of income from the interest I got from my ally online savings account during the year of my APPEs with no other taxable income made for the whole year. I qualified for the Additional Child Tax-Credit and collected on an extra $3k so...there's that (for student's not working while in school).

 

[letsquitpharm]

So...yeah, I don't foresee ChatGPT replacing drug counseling anytime soon. I would wager Dr. Google is doing better and has yet to do it either. Let's talk in 10 years and re-visit this once the kinks are fixed?

I said ChatGPT has potential to replace drug counseling...just as it is hyped to replace all other professions.

Google obviously did a great job providing decent drug info already. I coasted 4 yrs of pharmacy school primarily using drugs.com. The info is already there, people just need to type it in and read it.

 

[RXDOC1986]

Looks like not much at all out there. Even that "uber-like" MTM consulting company not hiring for years (i forget the name)
Any pharmacist side hustle ideas to get 1099 income (not w2)?
To get better tax write offs. Not looking for full time work.

As a side gig, I opened (back in 2014) a franchised Home Health Care Agency - offering all services except home infusion therapies (even though that was my expertise) - It was basically staffing w/CNAs, LPNs, RNs and RTs, some DME and RT/oxygen, but no pharmacy services. The Franchiser set me up with all P&P, forms, marketing, software, billing. Getting the state license was a 6 month process/ordeal(the application was 400 pages/basically a policy/procedures manual) and hundreds of dollars. Got a cheap office with Regus, a fulltime office manager. Advertised and hired (1099-misc) a bunch of good people. Marketed around town to MDs, Rehabs, hospitals, SNFs, etc. Marketing/sales as a Pharm.D. and business owner went really well, even though I didn't have the legs or figure to pull it off!!!
A good CPA and then a huuuge number of write-offs for my taxes. Everything from mileage/auto-lease/repairs & maint. , insurance to 5 cell phones, office, visits to Costco - trips, computers, the list was limitless! I paid myself really well for management and marketing. Paid my office bills, and lost money every month (another big write off). IRS says you can show big losses for up to 3 years in a row, then you should close down the business. I could have been profitable, but the state of Georgia changed the rules about 1099 employees. I had to re-hire all my employees as W-2 with benefits, unemployment, workers comp and SS. Just so the state can get more money out of us! The margins were not enough to keep going, and I couldn't show a loss for the 4th year. Got out, advertised my agency for sale.
What a wonderful side hustle!
Didn't have anything tangible to sell, but my HHCA license was apparently worth $35,000 with a bidding war (I had paid $600 for it). Nobody wanted to do the licensing process. Later on, managed to actually set up a side business, helping people obtain the state license, for a small fee of $3500.

Now days, my mother (Alzheimer's, lung cancer, COPD, CAD) is in need of a full time CNA, I opened my HHC company back up. The LLC, the bank accounts, and etc. Hired a couple of CNA's. I bill my sister, I pay my CNA's, I write off my home office, car expenses, cell phones, trips to visit with my mom, "marketing", etc. I pay myself well with a 1099, and showing a big loss for 3 years in a row. I do business in OHIO and 1099-misc is still acceptable.
Help out my mom and sister, with huge write-offs for me.

 

[khydroxide]

As a side gig, I opened (back in 2014) a franchised Home Health Care Agency - offering all services except home infusion therapies (even though that was my expertise) - It was basically staffing w/CNAs, LPNs, RNs and RTs, some DME and RT/oxygen, but no pharmacy services. The Franchiser set me up with all P&P, forms, marketing, software, billing. Getting the state license was a 6 month process/ordeal(the application was 400 pages/basically a policy/procedures manual) and hundreds of dollars. Got a cheap office with Regus, a fulltime office manager. Advertised and hired (1099-misc) a bunch of good people. Marketed around town to MDs, Rehabs, hospitals, SNFs, etc. Marketing/sales as a Pharm.D. and business owner went really well, even though I didn't have the legs or figure to pull it off!!!
A good CPA and then a huuuge number of write-offs for my taxes. Everything from mileage/auto-lease/repairs & maint. , insurance to 5 cell phones, office, visits to Costco - trips, computers, the list was limitless! I paid myself really well for management and marketing. Paid my office bills, and lost money every month (another big write off). IRS says you can show big losses for up to 3 years in a row, then you should close down the business. I could have been profitable, but the state of Georgia changed the rules about 1099 employees. I had to re-hire all my employees as W-2 with benefits, unemployment, workers comp and SS. Just so the state can get more money out of us! The margins were not enough to keep going, and I couldn't show a loss for the 4th year. Got out, advertised my agency for sale.
What a wonderful side hustle!
Didn't have anything tangible to sell, but my HHCA license was apparently worth $35,000 with a bidding war (I had paid $600 for it). Nobody wanted to do the licensing process. Later on, managed to actually set up a side business, helping people obtain the state license, for a small fee of $3500.

Now days, my mother (Alzheimer's, lung cancer, COPD, CAD) is in need of a full time CNA, I opened my HHC company back up. The LLC, the bank accounts, and etc. Hired a couple of CNA's. I bill my sister, I pay my CNA's, I write off my home office, car expenses, cell phones, trips to visit with my mom, "marketing", etc. I pay myself well with a 1099, and showing a big loss for 3 years in a row. I do business in OHIO and 1099-misc is still acceptable.
Help out my mom and sister, with huge write-offs for me.

dude what the hell ?

 

[RXDOC1986]

dude what the hell ?

Having issues comprehending my take on a "side gig"? Just trying to respond to the OP.
Maybe ChatGPT can lend you a hand!

 

[ZakMeister]

Is there anyone who does daytrading or a professional trader? Thinking about being one on the side…wanna know how you guys manage to do it beside being a full time RPh and a family man.

 

[owlegrad]

Is there anyone who does daytrading or a professional trader? Thinking about being one on the side…wanna know how you guys manage to do it beside being a full time RPh and a family man.

The vast majority lose money.

 

[RXDOC1986]

Is there anyone who does daytrading or a professional trader? Thinking about being one on the side…wanna know how you guys manage to do it beside being a full time RPh and a family man.

I have a good buddy that lost a good job in the Telecom field. Became a full time daytrader.
He told me:
You have to study the market daily,
Get up super early for options and futures (pork bellies)
Put a good amount of money at risk daily
take a bunch of losses daily
Be done every day by 12noon, never hold anything for a second day (thus daytrading)
If you are lucky your weekly profit would be at 10% of the money you risked, not that glamorous

 

[khydroxide]

Having issues comprehending my take on a "side gig"? Just trying to respond to the OP.
Maybe ChatGPT can lend you a hand!

i was actually very impressed. my apologies if that came out wrong. I have a lot of ideas but have no idea how to put them into action, but once i have some of these thoughts organized i hope you don't mind if i reach out privately.

 

[RXDOC1986]

i was actually very impressed. my apologies if that came out wrong. I have a lot of ideas but have no idea how to put them into action, but once i have some of these thoughts organized i hope you don't mind if i reach out privately.

Hey, no problems. Always happy to help out. Never been very successful with side hustles, as seen above. I have been collecting a good paycheck for over 37 years. Slow and steady, building wealth. There is no get rich quick fix out there.
Probably can help folks by telling them what NOT to do!