How do locum tenens get paid? We know that if you work in the healthcare field, you probably have a passion for helping others. We also know that you probably don’t mind going above and beyond to help those in need. However, we still know that you need to get paid. As much as you might enjoy volunteering, your time is money, so it’s important that you know exactly how you’ll be compensated as a locum tenens. One of the main reasons that a healthcare professional will become a locum tenens is because of the earning potential. Typically, if you’re being paid as a locum tenens, you’ll generally make a higher wage. So, how do locum tenens get paid? Below we’ll take a look at the compensation that locum tenens can and should expect.
How Do Locum Tenens Get Paid?
A Changing Landscape
How do locum tenens get paid? Well, before we can answer that question, it’s important to know that the payment of this profession has changed over the years. First, it’s important to understand that locum tenens salary dynamics have changed considerably over the several decades since this practice type was introduced into the U.S. healthcare system. Now, more than in the past, locum physicians can expect to earn roughly the same rate of pay as full-time, permanent physicians.
Often, the employer will be paying more than the standard salary, but a portion of that is collected by the locum tenens staffing agency, which, in return, saves the employer the considerable cost of hiring a new physician, and provides the locum tenens worker with a variety of benefits that include malpractice insurance, licensing assistance, and a reliable paycheck.
Locum Tenens Payment
With the physician shortage in full swing, it’s no surprise that locum tenens are in high demand. Any economics class will tell you that when there’s a shortage for something, the demand grows. This is exactly what’s happening to locum tenens. When physicians or advanced practitioners choose to accept assignments with a locum tenens staffing agency, they will earn a per diem salary. This is in addition to extra compensation for overtime, call and weekend work. As far as compensation for locum tenens physicians, the daily rate varies by specialty, as they do for permanent positions. However, primary care physicians are among the most in-demand locum tenens physicians. They typically have a daily rate of about $600 to $800.
Factors to Consider
How do locum tenens get paid? Well, we’ve explained the average process of getting paid as a locum tenens, but there are many factors that come into play. Becoming a locum tenens is a very lucrative career. However, it’s important to know what kind of things can impact the amount of money you’re making. Below are just a few things that could determine how much you will make.
Location – Location plays a major factor when it comes to financial compensation as a locum tenens. Make sure to do your research before you decide to pack your bags. This is so you can ensure you’re going to be able to afford housing and other expenses in your new location. Luckily, we have assignments in all 50 states to ensure that you can land an assignment wherever you’d like.
Specialty – As a locum tenens, you can choose to find a career as a general physician or a specialist. According to the 2017 Medscape Physician Compensation Report — gleaned from a survey of more than 19,200 physicians across 27 specialties — primary care physicians make, on average, a salary of $217,000 per year, while specialist physicians averaged $316,000. Choosing your specialty will surely determine the amount of money you will make on your locum tenens assignment.
As always, if you’re still looking for a locum tenens assignment, feel free to check out the thousands of jobs that we have to offer. If you have other questions regarding the salary of a locum tenens, feel free to comment below!