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Applying the concept of leverage to a doctor’s career and illustrating the principle “Earn with your mind, not your time” can be a powerful way to shift how doctors think about their profession, earnings, and the role they play in healthcare.
1). Labour is one form of Leverage – You can employ other people and use them as laborers and use this time, this is a traditional form of Leverage. This is the worst form of leverage since managing other people is very tricky and messy. It requires a lot of leadership skills
2). Money is another form of Leverage – You can use the advantage of money to multiply your business, if you are good in raising and managing capital you are sure to succeed.
3). The newest form of Leverage which has created enormous wealth is using Technology – Coding to create that leverage, you can create and multiply products with no marginal cost of Replication- all the latest companies Google, Uber, Airbnb, Netflix all are born out of code which can be replicated, if you can’t code next way is to create leverage using media, youtube, internet, twitter, blogs, books etc to create your own brand, Even this Blog is a leverage, we can reach out to lakhs of Doctors using this blog. A book is a leverage , your YouTube channel can be a leverage.
♦ The Labourer (Doctor as a General Practitioner) – Imagine a doctor working in a clinic, seeing patients one by one, performing routine check-ups, prescribing medications, and referring cases. While this is the foundation of medical practice, this doctor has minimal leverage. They are trading their time directly for money, typically in the form of consultation fees. They have some accountability—to their patients—but no leverage beyond the number of patients they can see in a day. Their income is capped by the hours they can work. This is akin to the laborer in real estate: someone who is skilled but constrained by time.
♦ The Specialist (Doctor as a Surgeon or Specialist) – The next level up could be a specialist like a surgeon, ophthalmologist, or cardiologist. Here, the doctor has more specific knowledge and higher accountability since the outcomes of their procedures are critical. They are paid more because their work requires specialized training and skills, much like a general contractor who has the know-how to organize labour and manage projects. However, their income is still tied to time—the number of surgeries or consultations they can perform.
♦ The Entrepreneurial Doctor (Doctor as a Clinic Owner) – At the next level, a doctor might run their own clinic or micro hospital, hiring other doctors and staff to handle day-to-day patient care. This doctor now has leverage. They’re no longer limited by their own time; they are earning through the productivity of their team. They are accountable for the entire business, which brings risk, but the reward is potentially much higher. Their specific knowledge extends beyond medicine to managing a business, hiring the right staff, optimizing operations, and handling regulations—similar to a real estate developer managing a project.
Ultimately, as in real estate, the combination of these forms of leverage will allow doctors to create wealth beyond just their labour, moving from being a worker in the system to someone who owns or significantly impacts the system.
Now to know more about how to build your leverage in healthcare business or in Finance, connect to us.
This Blog is based on the concept of Naval Ravikant on Leverage and we have applied it to Healthcare.
Dr T.Senthil
Founder, Ophthall Practice Development
Mr Dharmendra Satapathy
Founder Next Level Education