We understand that securing your first medical job is a significant milestone. That's why locum tenens work is perfect for physicians right out of residency.
In the industry's early years, many locum tenens physicians were in the twilight of their careers or quasi-retirement. However, that demographic has changed significantly. A recent survey showed that 81% of physicians began working locum tenens either just out of training or mid-career, while 19% started after retiring from full-time positions.
Physicians are opting for more flexibility as they battle burnout and administrative burdens. The ability to choose when and where to work and the potential for higher pay makes locum tenens an attractive career path.
Here are some of the many pros of working in locum tenens assignments:
You gain exposure to different patient populations and learning opportunities.
It is an excellent way to try various practice settings before settling into a long-term position.
Many assignments can be highly lucrative.
If an assignment isn't a good fit, it's temporary and will end soon.
While healthcare facilities primarily bring in locums to fill a vacancy, the use of locums to meet rising patient demand and provide coverage during peak periods has increased significantly over the last few years. Driven by the increasing physician shortage and growing patient demands, the need for locum tenens physicians is rising, and experts are unanimous that it will continue to grow.
Are there a few disadvantages to locum tenens? Sure. Depending on your assignments, you might feel like you’re living out of a suitcase. However, the advantages outweigh the disadvantages for most. Overall, locum tenens work can provide the kind of practice freedom that many physicians crave. If you’re one of them, here are some tips for medical residents considering locum tenens work:
Start the process early. We recommend starting a discussion with FreeUpMD as early as nine months before you finish your residency. Begin talks with us in September or October to decide where to obtain your licenses, which can significantly enhance your marketability. Having more than one state license, plus setting up your DEA license, can also increase marketability. But you're not alone; FreeUpMD recruiters can help you navigate the required processes, gather paperwork for licensing and credentialing, and meet any specified timelines.
Have realistic expectations. It’s unrealistic to think your dream assignment will also be in your dream location. Residents looking for locum tenens opportunities will discover that their desired location doesn't have locum tenens openings in their specialty. One example: a new doctor seeking night shifts should be aware that hospitals typically assign day shifts to new emergency medicine physicians so they can work alongside more experienced colleagues. Most night or solo positions generally require a candidate with more experience.
If you’re realistic and remain open to assignments in various locations, FreeUpMD recruiters will find it much easier to place you. Also, remember locum tenens are temporary, so you can be far less hesitant taking an assignment versus a permanent job. You always have the option to exit the locum tenens assignment with notice or at the end of a short-term assignment if it’s not right for you.
Understand how taxes work for locum tenens assignments. It’s crucial to know the tax implications of locum tenens work. As a locum tenens physician, you are considered an independent contractor. You’ll receive a 1099 and must pay quarterly estimated tax payments, as taxes aren’t automatically deducted from your paycheck.
Because managing taxes as an independent contractor can require more effort, most physicians prefer to have an accountant handle it. Plus, locum tenens physicians can benefit from tax deductions for many business expenses, including home office costs, business travel, meals, and Continuing Medical Education (CME).
If you’re finishing your training, you should consider locum tenens as a career option out of residency. These assignments let you experience different work settings, have more control over your work schedule, and often earn higher pay than your peers starting out. The majority of physicians have a consistently favorable impression of locum tenens work. As a result, locum tenens physicians are more likely to feel supported by permanent staff and succeed. Ready to talk? Call (321) 586-2139 or shoot us an email: recruitment@freeupmd.com
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