Why Our Clients Use Locum Tenens
Most of our clients have an in house HR/recruiting department, but according to a recent study based on responses of more than 2,500 physicians in 19 specialties, the reality is:
- A quarter of practicing physicians receive 24 to 40 potential job opportunities a month; a slightly higher proportion of residents get that much.
- More than 50% of practicing physicians get at least three phone employment solicitations a week.
- More than 29% receive three to five solicitations weekly.
- Additionally 23% percent get six to 10 written solicitations of one type or another per week.
Our clients realize it could be up to a year, or more, before they get the physician they are looking for. Facilities working with Kaye Bassman (KBIC) Locum Tenens want to develop revenue now.
Maintain patient care and profit during challenging staffing periods
When a physician leaves your practice, whether for vacation, retirement, or to another facility, and you don’t have a replacement, you risk financial hardships. With fewer physicians, you’ll have trouble meeting the needs of the same volume of patients you are used to. But if you use a Locum Tenens physician to fill your vacancy, your clinic can continue treating the same number of patients without hurting the quality of patient care. KBIC represents the top healthcare talent, providing our clients with Locum Tenens to fill staffing vacancies for physicians. It’s just good business sense.
Part Time Physicians Filling Critical Jobs During Staffing Shortfalls
Using part time physicians to fill critical jobs and specialty positions during both planned and unplanned gaps in coverage allows our clients to be proactive, keeping their facility prepared for any need. After all, maintaining the highest level of patient care is always the first job. Healthcare organizations can’t afford to wait for their next permanent physician. With a shrinking pool of potential physician employees, the recruiting process can take up to a year or longer. Thus, hospitals and clinics in rural areas may never find a permanent provider. Every day that a facility is without a physician, it is missing out on thousands of dollars in billable services.
The Facts Are:
There will be 11 million new insured Americans this year under the ACA. Locum Tenens can help you cope with an ever growing influx of patients. The number of Medicare sponsored residency slots have been capped since 1997; U.S. medical school graduates now exceed the number of available residency slots. Locum Tenens specialists can see patients as soon as you can credential them. Your competitors are buying up physician practices, and smaller facilities as fast as they can. Will your providers be disappearing because of this?
These are up-to-date figures that paint the same type of picture through all hospital employed specialties. Using Locum Tenens, in most cases, requires no “ramp up” delay in revenue, No sign on bonus, No family relocation allowance, No production bonus, and No benefits to administrate.
The Locum Tenens provider is there to work.
Using Locum Tenens is not expensive…not using them is.
Using Locum Tenens physicians can be cost neutral when covering for a hospital employed physician. KBIC will provide end-to-end coverage, including a thorough cost benefit analysis during the planning phase. Here are two random hospital employed specialties for illustration, based on MGMA, and National Annualized Averages for 2013. This is for an 8 hour day.
Average revenue lost per day: $6,000.00
Minus average net basic compensation per day: -$3,900.00
Your lost revenue is approximately: $2,100.00 per day
The cost of a Locum Tenens Urologist all inclusive per day including pay, travel, lodging, car is $2,750.00. Your facility will still make approximately $3,250.00 per day in revenue.
Average revenue lost per day: $7,680.00
Minus average net basic compensation per day: -$845.00
Your lost revenue is approximately: $6,835.00 per day
The cost of Locum Tenens I.M. provider all inclusive per day including pay, travel, lodging, car is $4,100.00. Your facility will still make approximately $3,580.00 per day in revenue.