Locum tenens Physicians are knowledgeable, skilled, and concerned about the quality of patient care they deliver. The cost to partner with a locum tenens Physician or Advanced Practice Provider can vary, based on their qualifications, medical specialty, and experience. There is no fixed cost associated with utilizing locum tenens providers, however, the locum tenens salary rates are competitive and will vary. There are several factors that impact locum tenens compensation and here are a few examples:
Locum tenens Physicians are considered independent contractors and are paid only for their time, which facilities can bill for just like core staff procedures and visits. While practitioners can work directly with hospitals or healthcare facilities, many work with a locum tenens staffing company to find locum tenens assignments. The locum tenens agencies pay for the providers to work assignments, and facilities pay the agencies to fill the positions and take care of things like:
The best locum tenens agencies are those who get to know their providers and understand the healthcare center's needs.
Overall, compared to permanent providers, locum tenens salary rates are not significantly higher than the cost of a permanent Physician, especially if you take into account the revenue lost if the position is left open long-term. Additional costs for permanent providers include items such as signing bonuses, placement fees, licensing fees, employee benefits, malpractice insurance, and workers' compensation.
To offset the cost of locum tenens providers, your healthcare facility has two options:
Locum tenens Physicians are held to the same standards as those working full time for a practice as a Physician or Advanced Practice Provider. However, one big difference is the flexibility that they have in terms of scheduling. Locum tenens providers go through the same credentialing process as any standard Physician or Advanced Practice Provider. While quality of care is technically determined by the individual Physician's performance, multiple studies have shown that patient outcomes remain largely unaffected whether they are seen by providers with full time contracts or those working in a locum tenens position.
Hiring locum tenens Physicians does not have to come with a high price tag. By having a strategic plan, and working with locum tenens companies, you can utilize locum tenens providers in a way that will both benefit your facility and budget. In the end, each facility has its own unique circumstances.
Caliber is a total talent management company that delivers highly qualified healthcare professionals across a range of in-demand healthcare professions. By solving healthcare staffing problems, we are ensuring that everyone has access to a qualified healthcare professional when and where they are needed. Contact us today to learn how we can help you decide if locum tenens Physicians are the right solution for your healthcare organization.