What is a Locum Tenens Salary? And How Can I Maximize It?

All over the world we are experiencing a shortage of medical professionals and people with the skills to perform medical duties. Especially with the global outbreak of the Coronavirus, we’ve realized even more how important specialized and passionate doctors and medical staff are.

If you are a qualified doctor, physician, or clergyman, and you haven’t found a full-time position or would like to hire out your services, then you can consider becoming part of a Locum Tenens service provider. This service acts as a recruiter between medical professionals and healthcare providers to fill positions temporarily. Learn more about the service here: https://en.wikipedia.org/wiki/Locum.

THE SALARY

Many years ago, Locum Tenens employees received a much higher salary than the medical professionals working full-time in hospitals and other healthcare facilities. It’s because of this reason that many graduates opted for being part of such an agency.

Nowadays, full-time physicians who are employed by hospitals are receiving a higher salary that is continuously on the rise. In the past, $150 per hour was the going rate for Locum Tenens work. Since healthcare facilities are increasing their salaries, so should yours.

Considering that you won’t receive any benefits that comes with a full-time contract with a hospital, you should be able to maximize your salary in order to reach your own financial goals. While being able to pay for your own benefits like your retirement plan and a medical aid. Here are a few tips on how you can negotiate a better salary.

NEGOTIATE

When you sign up with a Locum Tenens, you should be able to negotiate your own going rate. Many healthcare providers underestimate the power of a slight hourly rate increase. Only $10 more per hour can give you a much a higher yearly salary, that will allow you to meet your own financial goals.

This doesn’t mean that you have to be brutal with your negotiating skills. It’s quite an easy process. Remember that by being a physician your skills and talent is highly demanded. Because of this fact, you are among a group of talented individuals that have worked hard to be in your position. Therefore, you can negotiate a higher pay that’s worth the effort and time you’ve put in so far.

While negotiating a better hourly fee, you should consider:

• How much other doctors and physicians get in the area
• What tasks you’ll have to perform and whether they are strenuous
• How much support you’ll get from other members of staff when you have to perform certain duties like surgeries
• Consider whether there are any downsides or pain points to the job

LOCATION

You might think that the highest paying Locum Tenens positions are in major cities. Factually, the highest paying Locum Tenens positions are actually found in smaller towns and cities.

Don’t bind yourself to large metro areas, rather find smaller hospitals and healthcare facilities that are about 2-3 hours drive from the main cities. These facilities typically have great going rates and subspeciality support.

WORK WITH A TRUSTED AGENCY

As a medical practitioner, you need to work with an agency that has your best interest at heart. They should be able to have both you and their client’s needs in mind when placing you in specific positions. In many cases, Locum Tenens providers will be able to place you in hospitals or practices that offer higher hourly rates.

They can also advise you on what to expect from their client. You can even ask them to negotiate better terms and pay on your behalf. Read this guideline for more tips on how you can find the perfect agency for you.

The right agency will also have more contact with facilities that have open positions. This will give you the opportunity to find work within your salary expectations as well as your professional expectations. Higher quality agencies will give you the assurance of a contract and won’t take a high commission, if any. 

You can become a high earning Locum Tenens employee. As long as you understand your worth and exclusivity, you’ll be able to negotiate better terms for the service you provide.