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What is Strategic Advisory?
Strategic advisory involves physicians providing expert guidance to healthcare organizations, companies, and boards. This is typically part-time consulting work alongside other roles.
Types of Advisory Roles
Medical Advisory Boards:
- Provide clinical guidance to companies
- Review products and strategies
- Often compensated per meeting
Board of Directors:
- Fiduciary responsibility
- Governance and oversight
Expert Networks:
- Short consultations with investors/companies
- Per-call compensation
Compensation Range
- Expert network calls: $500 - $1,500 per hour
- Advisory board meetings: $2,000 - $10,000 per meeting
- Board of Directors: $20,000 - $100,000+ annually (plus equity)