I completely agree. I would not have believed it had I not seen the 1099s and his tax forms. He charges $900 to $1500 an hour depending o the firm. Many times, he has a flat fee simply to agree to review a chart such that his hourly rate in that situation can approach $2000 or more. He likely charges $5,000 to $10,000/day just for a scheduled deposition and keeps the fee if it's cancelled or rescheduled. I have not asked but I assume this is mostly plaintiff work. I do think he's working all day every day, 7 days a week 12+ hours a day between his "day job" and his legal work. I don't ask because I don't want to know!That’s unusual. I am a surgeon in demand for expert witness and charge 900 per hour. I would have to do 1500 hours of that work per year to make 1.4M. It’s not easy work to come by to get to that level of volume even working almost exclusively with plaintiffs and telling them what they want to hear. This can quickly turn off a lot of one’s peers for referrals and tank ones practice.One of my clients is an academic neurologist making $250k in his clinical job and $1,400,000 in legal income. Not a typo.Can you see pts in clinic without doing procedures? Also read Echos and EKGs etc. don’t require hands. You could do legal consulting ie expert witness and make good money.
Summary: There may be some opportunity for a cardiologist to earn a little side money doing legal work. I only ever did a few defense cases but my only plaintiff case was $900/hour (pediatric neurology) with a minimum of 8 hours. It only took 2 hours to tell the plaintiffs they likely didn't have a case (or rather, I would not be helping them make their case).
Statistics: Posted by neurosphere — Thu Sep 26, 2024 8:59 pm — Replies 11 — Views 1413