Psychiatry is a rewarding profession, but many psychiatrists seek additional income streams to supplement their earnings. Whether you work for the NHS or run a private practice, there are various ways to make extra money as a psychiatrist in the UK. From telepsychiatry and private consultations to writing and teaching, this guide explores lucrative opportunities to boost your income while maintaining work-life balance.
1. Offer Private Psychiatric Consultations
One of the most effective ways to make extra money as a psychiatrist is by offering private consultations. While many psychiatrists work within the NHS, private practice allows you to:
- Set your own rates (typically £150–£300 per session).
- Provide specialized services, such as ADHD or addiction assessments.
- Reduce reliance on NHS contracts.
How to Get Started
- Register with the General Medical Council (GMC) and obtain the necessary licenses.
- Advertise your services through online platforms like Doctify, Harley Therapy, or your own website.
- Network with GPs and therapists who can refer private clients to you.
2. Leverage Telepsychiatry for Online Sessions
With the rise of telemedicine, many psychiatrists are making extra income by offering virtual consultations. Telepsychiatry allows you to:
- Reach patients nationwide, regardless of location.
- Reduce overhead costs associated with renting office space.
- Offer flexible evening and weekend appointments.
Platforms to Consider
- Babylon Health
- Psychiatry-UK
- Talkspace
These platforms connect psychiatrists with clients seeking remote mental health support.
3. Work as a Psychiatry Consultant
Psychiatrists with years of experience can earn additional income by offering consultancy services. This could involve:
- Legal Psychiatry: Providing expert witness testimony for court cases.
- Corporate Mental Health Consulting: Advising businesses on employee well-being strategies.
- Healthcare Consulting: Assisting private clinics in setting up mental health programs.
Rates for psychiatry consultancy vary, but many professionals charge £200–£500 per hour, depending on expertise and industry demand.
4. Teach and Mentor Aspiring Psychiatrists
If you enjoy sharing knowledge, consider teaching or mentoring. Options include:
- Lecturing at medical schools such as King’s College London or UCL.
- Hosting workshops and training sessions for junior psychiatrists.
- Creating online courses on platforms like Udemy or Teachable.
Teaching not only provides an extra income stream but also enhances your professional reputation in the field.
5. Write and Publish Psychiatry-Related Content
Writing is another excellent way to generate passive income. As a psychiatrist, you can:
- Publish a mental health blog to attract clients and earn through ads.
- Write for medical publications like The BMJ or Psychology Today.
- Author a book on psychiatry-related topics, such as anxiety management or trauma recovery.
Many psychiatrists earn royalties from self-published e-books or paid newsletters.
6. Develop a Mental Health App or Online Course
The demand for digital mental health solutions is growing. If you have an entrepreneurial mindset, consider:
- Creating a meditation or therapy app like Calm or Headspace.
- Launching a membership site with exclusive mental health content.
- Offering subscription-based therapy plans for clients.
Developing an app or course requires an initial investment, but the long-term passive income potential is significant.
Explore More Opportunities in Psychiatry
If you’re looking to make extra money as a psychiatrist in the UK, consider expanding into private practice, telepsychiatry, consulting, teaching, or digital content creation. Diversifying your income can provide financial stability while allowing you to help more people.
Ready to grow your psychiatry career?
Visit Hayanow for expert resources, job opportunities, and business strategies tailored for mental health professionals.
