Are you one of the healthcare professionals that have found themselves in this situation? Do not worry, because there is good news, as some passive income ideas could help African healthcare providers earn a decent, extra income. These recommendations are based on insightful analysis from reliable sources such as The Atlantic, Cyber Degrees, Motley Fool, etc.
8 passive income ideas for Africa's healthcare professionals
The African healthcare industry is an integrated sector treating patients with preventive, curative, and rehabilitative medicines and care. But the cost of endless membership tests, school debts, and general living leave any healthcare providers financially anxious and strained.
Sell Digital Products
Neil Patel says selling digital products is a profitable passive income idea for various industries. If you are passionate about educating the public about personal health or hygiene, consider creating and selling health-related digital products. Examples of such digital products include e-Books and online courses which can be uploaded on best-selling platforms, making them available to prospective and seasoned learners. Furthermore, creating workshops and webinars with valuable content is rewarding and a great passive income idea for African healthcare professionals.
According to Medico Reach, affiliate marketing is ideal for healthcare professionals to maximize their earnings for a desirable life. Affiliate marketing is an evolving market with sales tactics ideal for African healthcare providers. If you love sharing resources and favorite products with family or friends, consider becoming a healthcare entrepreneur with affiliate marketing.
The idea is to get a specific link that friends and family can use to sign up and purchase medical products for a commission. Most affiliate marketers receive a percentage of every sale from customers using the affiliate link.
Collaborations and Sponsorships
According to The Atlantic, collaborations and sponsorships are essential passive income ideas for healthcare professionals. Whether through consolidation or otherwise, healthcare professionals need to collaborate for unique organizational culture in communities. African healthcare providers should collaborate and work together to share ideas, services and programs for the benefit of patients.
If you enjoy social media and influencer life, consider collaborating with a brand and getting paid to promote products and services. It would be best to be transparent and authentic with your audience and partner with brands you trust and love.
According to Passive Income MD, blogging is a lucrative way to earn a passive income in the healthcare industry with barriers. A blog is a series of online informal entries on a website with valuable content for readers, and experienced African healthcare providers can benefit. If you can educate the general public about general healthcare strategies in written words, consider blogging.
The idea is to earn a significant income stream by monetizing blogs and making a decent living every time readers click on ads on the website. However, do not allow too many ads on a page to prevent spamming.
Start a YouTube Channel
According to Shopify, starting a YouTube channel is rewarding for healthcare professionals and an ideal secondary revenue stream. African healthcare professionals can generate revenue and make a living by creating a YouTube channel with valuable content. If you can create medical video content for patients and communities, consider starting a YouTube channel.
Furthermore, YouTubers earn a decent living on the platform by creating and editing videos before uploading. You get paid based on views, so consider amassing subscribers by leveraging social media platforms for adverts to build your audience.
Create an Online store
According to The Balance Small Business, starting an online business in the health niche is rewarding for professionals. It is one of the most profitable niches since the invention of the internet, and African healthcare providers can benefit. If you love working with your hands and crafty, consider starting an online store in the health niche.
The internet is a market with endless possibilities, so make money by selling hats, t-shirts, pens, stickers, and healthcare products. Furthermore, consider supporting other healthcare professionals and therapists by collaborating with different services and brands.
Build an App
According to HealthWorks Collective, building an application that solves medical problems for individuals and communities is a lucrative investment. Skilled African healthcare providers with computer programming experience can benefit from this strategy. While excellent app-building tools can bring your concept to life, experienced healthcare providers can hire professionals to build the application.
Consider creating an application that solves a specific problem and monetizing and advertising on various platforms. Furthermore, promote your app offline and online to increase revenue without national barriers.
Own a Rental
According to the Chief Healthcare Executive, owning a rental is ideal for healthcare professionals to maximize profitability. Property investment is a profitable option for healthcare professionals, suitable for Africans. If you want to generate passive income by doing less clinical work, consider investing in real estate.
African healthcare providers seeking financial independence from clinical work can generate revenue from rentals. The idea is to purchase a building, find a renter, and enjoy the passive cash flow when your income exceeds expenditures. They're losing their best worker.
As an African healthcare professional, you can make extra income from selling digital products, doing affiliate marketing, collaborations and sponsorships, and blogging. These ideas are lucrative and offer money-making opportunities. However, it is advisable not just to choose a passive income idea because of its money-making potential. Instead, consider selecting the ones you are passionate about.
*The views expressed in this article are the views of a contributor at Business Insider Africa. It does not represent the views of the organisation Business Insider Africa.
About the author
Olayinka Sodiq is a qualified writer with technical, analytical and copywriting experience gained from 5 years of both in-house and freelancing gigs. He is versed in finance, investments, technology, blockchain, mergers & acquisitions, bankruptcy, etc.
JOIN OUR PULSE COMMUNITY!
Eyewitness? Submit your stories now via social or: