Ten Reasons to Choose Locum Tenens
For decades, physicians have engaged in locum tenens practice for a variety of reasons at different times throughout their careers. Here are ten of the most common.
(1) Just out of training. Doctors fresh out of residency or fellowship who have yet to decide where they want to settle down find that locum tenens offers an excellent opportunity to explore different areas of the country. Like the idea of living in Montana but not sure how you would handle the winters? With locums, you can find out first hand.
(2) Trying out different practice settings. Physicians who trained in big city teaching hospitals can explore what it is like to work in a two-doctor office or rural health clinic. Physicians who completed training in community hospitals and had clinical rotations mostly in small practices can try out a multi-specialty clinic or work in a large health system before making a commitment. Residents just out of training who think they would like to make a go of a solo or small office (where it can be the most challenging to run a profitable practice) can use locum tenens to get a feel for both the clinical and business sides of practice in these settings. Some may come away feeling the risk of being in a smaller practice is well worth the reward while others may decide they would rather be employed by a large, established organization for the security that might offer.
(3) Moonlighting. Sometimes even highly paid physicians need to earn extra money. Locum tenens offers the option to do just that. Looking to pay off your educational loans ahead of schedule? Have children in college? Contracting to practice on weekends or during vacations is one way to achieve important goals. One caveat: Do not work so much that you fall into the trap of career burnout. Money is important, but only to a point.
(4) In transition. Doctors who need to keep working during a professional or personal transition find locum tenens to be a solution. Examples include: the internist who accepts a job in a new state and finds her medical licensing or hospital credentialing taking longer then expected; the surgeon recently out of residency waiting to begin a fellowship or research position; the radiologist who agreed to a year-long sabbatical but found himself bored and ready to get back to work after 6 months.
(5) Returning to work. It is not unusual for physicians - particularly women - to take time away from the practice of medicine to start a family. In today's economy, some of these doctors are feeling the financial pinch and returning to work, at least part-time, a little earlier than they might have planned. Locum tenens is an excellent choice for physicians who want the flexibility to work around a busy family schedule.
(6) Semi-retired. For the physician who is ready to slow down but not retire completely, locum tenens offers the option to stay involved in clinical medicine, continue to generate an income, and at the same time enjoy other aspects of life such a traveling, volunteering, or engaging in a hobby or passion. Locum tenens physicians have been known to request engagements in areas of the country where they have children and grandchildren.
(7) Waiting out a non-compete clause. Imagine that the group you are in is struggling financially and you want to move on before the bottom falls out. But there is a small problem. You and your family love the community you are in and you have a two-year non-compete clause to contend with. In this scenario, you might consider staying put on a personal level but moving on professionally by practicing locum tenens as close to home as possible until the non-compete clause expires. Then you would be free to open a practice or join another group in the original town free of potential legal hassles.
(8) Repairing a broken nest egg. Many doctors with retirement funds or other savings in market-driven investments (stocks and real estate, for example) have seen their account values plummet in recent years. Hopefully, those investments will inch their way back to health, but locum tenens is one way to replace recently realized losses. Working even one weekend a month or one week a quarter adds up quickly when your daily pay rate averages, depending on your specialty, $800 to $2,500 per day. Also, it is not uncommon today for physicians who have retired within the last five years to return to practice - locum tenens this time around - as a way to stretch their retirement savings dollars.
(9) Paying down debt. Consider supplementing your monthly income with a few locum tenens shifts and use the extra cash to pay off school loans, credit cards, one of your cars, or even your mortgage.
(10) Locum tenens as a career. Physicians who choose locum tenens full-time do so for a variety of reasons. Some are pursuing interests related to medicine such as designing medical equipment or launching a technology venture. These doctors want to stay active clinically and also have time to nurture a business. Others simply like the idea of taking care of patients without the administrative and business responsibilities usually associated with practice. On the personal side, locum tenens works well for single parents who need blocks of time off to spend with their children. Serious athletes may find that locums offers the flexibility and time off needed to train and compete. Physicians who take pleasure in traveling the world, doing missionary or other volunteer work for extended periods, or those engaged in a creative endeavor that requires uninterrupted blocks of time all enjoy the benefits of practicing locum tenens.
If you are considering locum tenens and wondering if it might work for you, contact a NALTO member locum tenens agency (www.nalto.org) to find out more.
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