Independent locum tenens physicians may earn more money and enjoy more freedom than their agency-affiliated counterparts, if they can manage the administrative legwork alone, according to an American Medical News report.
According to the report, the number of independent locum tenens physicians is relatively small, with a Feb. 16 StaffCare survey reporting that only 11 percent worked without agency help in 2010.
Locum tenens physicians who work with an agency function as the agency's independent contractor, in that hospitals or health systems pay the agency for the physician's work and the agency then pays the physician a percentage of the total. Payment for agency services covers paperwork for physician licensing, credentialing and malpractice insurance, costs that can vary significantly by location.
Independent locum tenens physicians, on the other hand, receive higher pay because they don't have to pay a percentage to an agency and may also enjoy greater freedom in deciding where to work. While some hospitals that have exclusive locum tenens agency contracts may block independent physicians, many can establish steady work filling in for physicians who need time off — especially if they are willing to travel.
In exchange for this freedom, physicians must take on the responsibility of paperwork — including licensing, credentialing and other tasks — and seeking out hospitals and facilities that need locum tenens assistance.
Read the American Medical News report on locum tenens physicians.
Read more on compensation:
-Health Insurance Most Likely Industry to Produce America's Top-Paid CEO
-Miami's Jackson Health System Announces $590K Salary for New CEO
-Troubled Jackson Health System Could Offer New CEO Up to $975K
According to the report, the number of independent locum tenens physicians is relatively small, with a Feb. 16 StaffCare survey reporting that only 11 percent worked without agency help in 2010.
Locum tenens physicians who work with an agency function as the agency's independent contractor, in that hospitals or health systems pay the agency for the physician's work and the agency then pays the physician a percentage of the total. Payment for agency services covers paperwork for physician licensing, credentialing and malpractice insurance, costs that can vary significantly by location.
Independent locum tenens physicians, on the other hand, receive higher pay because they don't have to pay a percentage to an agency and may also enjoy greater freedom in deciding where to work. While some hospitals that have exclusive locum tenens agency contracts may block independent physicians, many can establish steady work filling in for physicians who need time off — especially if they are willing to travel.
In exchange for this freedom, physicians must take on the responsibility of paperwork — including licensing, credentialing and other tasks — and seeking out hospitals and facilities that need locum tenens assistance.
Read the American Medical News report on locum tenens physicians.
Read more on compensation:
-Health Insurance Most Likely Industry to Produce America's Top-Paid CEO
-Miami's Jackson Health System Announces $590K Salary for New CEO
-Troubled Jackson Health System Could Offer New CEO Up to $975K