Locum Story: Long-Term Strategic Partners in Healthcare

Long-Term Strategic Partners in Healthcare

This job of Locum Tenens was initiated as a makeshift policy to meet temporary doctor and staffing shortages.

Slowly, career opportunities emerged as one of the medical professional’s top career choices. In this article, we bring into the discussion table the demand for locums and the expectations of new job seekers in the next few years.

Locum Tenens: How Common Is It?

Locum tenens is, without doubt, a fast-growing segment in the healthcare industry. However, many of the largest facilities and practices in the USA have leveraged the efficacy of locum job placement. They incorporate these positions into their staffing models.

Although the concept of the modern locum tenens dates back to the early 1970s, since there is no turning back, the sector is managing a dream run of growth.

About 7% of physicians in the US have associated themselves with the locum tenens position within the last year.

Moreover, almost 85% of facilities are integrating temporary service providers. In the last decade, the number of locum tenens doctors has sharply increased. The rate of increase is massive( 90%). Hence, you can understand how common it is the concept of employment in the US medical sector.

The Future of Locum Tenens

Since the COVID-19 pandemic, the move towards gig work and contracting has grossly affected the entire healthcare industry. Moreover, spending on locum tenens increased drastically by 28% in the year 2021.

Almost 60% of healthcare funds go towards inducting self-employed practitioners. The Association of American Medical Colleges conjectures that the shortfall of healthcare professionals will approach 140,000 by 2033. 

The situation brings with it waves of concerns for the vulnerable aging population and also the medical workforce. The locum tenens positions address the shortfall, as well as providing patients with healthcare requirements.

Why Are Locum Tenens Jobs in Demand?

Recent data exposes some of the most concerning and surprising trends among physicians. They include those who are looking for contract-based positions. 

Furthermore, the reports also bring to the forefront the reasons behind healthcare professionals’ preference towards short-term placements.

According to a survey,  60% of the respondents opine that they are looking for new positions. Moreover, nearly 25% of physicians under the age group of 40 opine that they are avoiding long-term or permanent positions due to burnout

Moreover, after the pandemic, the healthcare sector faced an enduring staffing shortage. Consequently, stakeholders feel pressure from within. 

Under such serious circumstances, the locum tenens has emerged as a viable alternative for physicians and other healthcare professionals who want to be engaged in the workforce but on their terms.

Work-life balance

Locum tenens offers a degree of flexibility not found in full-time healthcare positions. Temporary placements allow physicians to experience a range of environments and demographics while setting schedules that work for them.

Everyone knows that the present world of professionalism is grappling with issues like work-life balance and increasing stress. Organizational management, especially in the medical field, is looking to work on coping with immense pressure. Locus tenens provides an advantage. Professionals who aim to attain work-life balance are looking for locums job placement.

Better pay

Competitive pay is another driver of locum tenens growth. Moreover, the temporary healthcare positions may culminate in the form of 50% more payment compared to the comparable full-time placements.

As a result, it allows the healthcare profession to earn more money while working with flexibility. Temporary employees are responsible for health insurance and retirement planning, which can erode some of those profits.

These are a few reasons attributed to the increasing popularity of locum tenens positions in the healthcare industry. With a more equitable work-life balance, better pay, and, most importantly, less stress, it brings multiple benefits. Hence, it becomes easy to say why so many doctors are entering the locum tenens position.

A Hassle-Free Career 

One key benefit of the locum tenens job is a hassle-free career. When professionals have this job, there are zero teaching and administrative responsibilities. Furthermore, there are zero coding and billing hassles or, say, staff management issues. 

Experts say that the care providers who embrace this approach reap the benefits. Here, the professionals get much better flexibility from the hospitals. As a result, the job becomes much more stressful and hassle-free. 

Freedom To Travel 

The locum tenens are best known for their freedom of travel. This recruitment approach allows doctors to engage in multiple healthcare bodies, and that too in different places. 

If you can visit multiple places and seek new career opportunities, you have flexibility and freedom. This is, without question, one of the prime benefits that healthcare professionals get. 

Pre Retirement planning 

One of the benefits linked to locum tenens is pre-retirement planning. Some doctors have retired from their full-time jobs but still want to engage in practice. 

This approach to service best suits these professionals. These professionals are looking to finish their medical careers with locum work.

Many seasoned medical professionals have retired from full-time engagements. They suggest that they have made the right decision by engaging in part-time jobs at different care units. They say that the flexibility of the work structure provides them with the edge.

Read More: Healthcare Jobs That Will Be Most in Demand 2020–2025

Managing the Debts 

Another core benefit of locum tenens is working with new doctors. The respectable earnings from the job help one manage debt while studying in medical school. 

Even the National Association of Tenens Organization(NALTO) says that an individual can get two ways to manage their student loans

They think that the students are using different ways to pay back their along with the flexibility that they are getting from the hospitals. Working in the locum tenens allows them to provide coverage for weekends or months. The opportunities are quite enticing.

Change Will Keep Coming—Are You Ready For It?

Locum Tenens has grown into a nationwide, multibillion-dollar industry used by nearly 90% of America’s healthcare facilities. In every state, thousands of providers accept temporary placements every year, ensuring that people in underserved communities get the medical care they need.

Though locum tenens has a short history compared to that of other industries, it offers a reliable, sustainable staffing solution in areas lacking access to healthcare.

 With locum tenens, we can build a healthier, safer society. If you’re considering a career change, accepting a temporary position may be just the push you need.

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Ankita Tripathy loves to write about food and the Hallyu Wave in particular. During her free time, she enjoys looking at the sky or reading books while sipping a cup of hot coffee. Her favourite niches are food, music, lifestyle, travel, and Korean Pop music and drama.

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How Many Jobs Are Available In Real Estate Investment Trusts

How Many Jobs Are Available In Real Estate Investment Trusts?

How many jobs are available in real estate investment trusts? What are the best paying jobs in real estate investment trusts? Is real estate investment trusts a good career path? If you are searching for these queries, then you are at the right place! Real estate investment trusts are firms that hold finance producing real estate across many areas. This company is situated in almost every state of the United States. However, there are various conditions or requirements for a company to fulfill the basic terms and conditions of Real Estate Investment Trusts (REITs). Keep reading this article till the end to learn more about the same... Keep reading this article till the end to learn more about the same... How Many Jobs Are Available In Real Estate Investment Trusts? According to Indeed and LinkedIn, there are more than two thousand jobs available in real estate investment trusts. However, this number can increase or decrease as per the vacancy available in various sectors. 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Best Paying Jobs In Property – Casualty Insurers

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How Are Property Casualty Insurers Different From Life Insurers? While life insurers aim to insure the life of an individual, the task of the property casualty insurer is to insure the properties. 2. How Do Insurance Companies Make A Profit? The only way in which insurance companies can make a profit is to ensure that they are able to market their policies in a much better way. These companies make a profit by investing in insurance premiums. 3. What Are The Risks That Cannot Be Insured? While most things in the world can be insured, there are many risks that cannot be insured. Some of them are:1. Natural disasters2. Pandemic3. Political risks4. Reputational issues Wrapping It Up! The task of property-casualty insurers is widely popular and very much in demand in this world. One of the main reasons for that to happen is because there is absolutely no one who would not want to protect their properties in case there is an accident. 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