In the medical industry, one rarely finds someone who is equally good in his practice as well as in his financial skills. They openly owe it to the lack of or that their brains don’t work that way, while there are some who beg to differ. Many well-known physicians have a knack for handling finance and their profession, both. One only thinks that doctors can’t be good investors as they hardly have time for anything else, but that’s also not true. Their years of training have rendered them extremely good at their problem solving and time management skills.
It has always been recommended that an alternate hobby or vocation to one’s mainstream career gives him/her a break from monotony. Also it acts as a stress buster and refreshes the mind. Moreover if that pursuit brings in some revenue, then that’s an added advantage. The best part about having something else to pursue is that you never have to give up on your career unless you want to. So, if a doctor or any other professional thinks that he has the entrepreneurial traits, he should make the best of it.
For some doctors, it is the business world that gives them the metaphorical vent. There are many well-known doctors who have honed in their business skills.
Doctors Who Are Known as Investors
Ritesh Malik was listed on Forbes 30, in the Finance and Venture list for Asia (2016) when he was just 26 years old. He graduated from the MGR Medical University in 2013, but his interest always lied in finance and marketing field and that of entrepreneurship.
He skipped many classes in college to get a better grasp of the concept of business, taking courses from the London School of Economics. His efforts paid off when he was in his final year. The Times of India purchased Ritesh’s co-founded company’s flagship product. Soon after this win, Ritesh decided to switch his field officially, and he went on to study Management of Innovation & Technology at Harvard University.
What’s more? He is now also the CEO and Founder of Guerilla Ventures. Fin Robotics, a manufacturer in the wearable gadget business, is the first company in the hardware product field to have raised Series A funding. Ritesh is also known to have invested in more than 30 enterprises that include Flip motion, Wigzo, RHLvision, AddoDoc, and Mashinga, among other companies.
Medicine and investments usually don’t go hand in hand. But this dermatologist based in Baroda can prove you wrong. Dr Hitesh Patel is just as good with his Peter Lynch techniques as he is with his scalpels and his forceps.
Dr Hitesh Patel prefers to be called a value investor, and he deserves this label after having been able to identify some good stocks in their early stages.
According to his claims, Patel may have generated up to forty five times return on stocks over the past couple of years.
Even after years of dedication, it generally takes to get a medical degree, it’s not unheard of for physicians to leave that profession in the past for good. Doctor-turned-investment banker Brian Scullion is no different. In the year 1991, he received his M.D. from Stanford Medical School. He then returned to Chicago after a few years to work in internal medicine for Rush Prudential Health Plans, an HMO.
Today he has a very different opinion than what he had when he graduated.”I loved medical school,” Dr Scullion says. “But when it was time to consider a speciality, I had to do some real soul-searching.”
Professors had beaten down his career path to a narrow one-way street, making him specialize in molecular biology and then oncology. He then made a life altering decision to leave behind his initial career choice and started taking night classes at the Kellogg School of Management, while working as a physician during the day. Soon after, the medical and healthcare industries started booming. He is now a prominent face in the PharmaForce Inc. working as an adviser. He works for the management side of the healthcare industry.
Founders of Navia, a healthcare start-up, Kunal Dhawan and Gaurav Gupta are people with dreams. With Artificial Intelligence rapidly extending its roots in the society, they have come up with a unique solution which could be described in layman’s terms as Siri for doctors. While Gaurav has a degree from the ISB, Kunal is the one with the medical background having studied from a medical university in the United States. Navia or NAVI Assistant can help predict the disease and print shareable copies of it, in less than 20 to 30 seconds. With over 300 doctors using it as of now, expectedly, it will soon enough be a global success.
It is never too late to take some time out of daily life and the standard career choice to discover one’s passion. As cited above some of the best Doctors have switched careers to respond to their true calling. It tells us about the versatility of the human mind and thought-culture. With their substantial knowledge in the medical field as well as in the business hemisphere of the world, these people are contributing to the welfare of the society, all the while making the right decisions and creating a huge revenue with the help of their skills.
There could have been many indicators that prompted these medical professionals to change the course of their life into a completely new territory. Over the years they unknowingly honed many of their skills that made them successful entrepreneurs. Yet it is the courage to follow their dreams than settle for conventional roles, which set them apart from the rest.
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