Why You Should Work Locum Tenens with a Full-Time Job? Today’s guest blog is by Healthnic. The opinions expressed by the author in this and all guest blogs are not necessarily those of Genex Medical Staffing.
Why You Should Work Locum Tenens with a Full-Time Job?
A recent report, The Complexities of Physician Supply and Demand: Projections from 2016-2030, published by Association of American Medical Colleges; (AAMC) projected that the US is expected to see a shortage of nearly 120,000 physicians by the year 2030. This shortage will widely affect patient care across the US. The report further states the shortage in four wide and primary categories; primary care, surgical specialties, medical specialties, and other specialties.
As the demand comes from a growing aging population, by 2030 the number of the population over age 65 will increase by 50%. With 1/3 of currently, active physicians will be retired by that time, this will put a great impact on the supply of the physicians.
Given this projection, the medical facilities are turning to locums to provide the care round the clock. The number of doctors interested in working locum has increased from 9.1% in 2014 to 11.5% in 2016. If you are still planning to work as a freelance doctor and add more experience to your medical career, this is the right time to make a leap!
Why You Should Work Locum Tenens with a Full-Time Job?
Read on to find out more legitimate reasons to join the locum crowd:
- You Work on Your Own Schedule:
If you feel tied up with a full-time job schedule and find little freedom in your working hours, locum tenens is for you. By working locum, you can definitely set your own working schedule, and take full control of your working hours and shifts. Not only this gives you freedom and work-free holidays, but also gives you the opportunity to spend time with family and even yourself!
- A Decent Addition to Your Income:
Having a side gig in addition to a permanent job always gives you a monetary edge. Since the medical school debt remains high with $190,000 in 2016 according to stats released by the American Medical Student Association, work as freelance doctors is an easy way to pay off your loans earlier.
Not only as a freelance, but locum tenens can also be a taken as a main source of income as these jobs pay 30% to 50% more than a salaried job.
- You Get Opportunities to Travel:
Working locums is an opportunity to travel the country while working. If you have been dreaming about living in the big city or want to go kayaking in the Mississippi, working a freelance doctor can give you wide experiences and entertainment that you may miss in a full-time job. In addition to this, you can serve and provide medical care to the 20% of the population who live in the rural comminutes and suburbs with only 10% of the physicians working there.
Why You Should Work Locum Tenens with a Full-Time Job?
In addition to such experiences, locum doctors provide immediate medical care when an area is hit by natural disasters and sudden catastrophes such as earthquakes, hurricanes.
- Get Advantaged by Freelancing Tax Benefits:
Working locum tenens are freelancers who file the special IRS 1099-MISC form insisted of an IRS W-2 form. This gives you a few special advantages that you cannot get otherwise such as new tax code revamp. This explains that under 1099, your paycheck will arrive without any tax withholdings. And when paying for the tax, you calculate your tax liabilities on your own and don’t overpay taxes.
- You Can Test Your Options:
Being a freelance doctor, you can definitely try your options before committing to one option. This may be all that you need, if you are fresh out of a fellowship, or even planning to make a career shift. For this purpose, locums-to-perm is a popular locums’ work that doctors take advantages of. You have a big chance to try different clinics-big or small, private practices, hospitals- government or private, to find out where you can work comfortably.
If you are one of those nomad doctors interested in the benefits above, working locum tenens is just the right option for you. Find locum opportunities at Genex.
