The Changing Clinical Workforce
Physicians are playing an increasing role in the contingent healthcare workforce. Whether in the early years of practice, mid-career, or approaching retirement, doctors are increasingly seeking more flexible schedules, greater autonomy, new income streams, and variety in practice setting. Forward-thinking healthcare organizations looking to augment their staffing strategy will seek to engage this new brand of provider. Let FLEX help you tap this growing resource of clinical talent!
Revenue Gains or Losses
Patient revenues are the lifeblood of any hospital or practice. It is estimated that on average a physician generates over $1.5M a year in revenue for his/her affiliated hospital. That’s over $4,000 a day that your facility could be generating when fully staffed. Conversely, your hospital could lose out on that same amount if short-staffed, or potentially more if patients are lost to another hospital or practice that offers more immediate treatment.
Does your facility have a strategy to mitigate revenue loss and patient attrition due to coverage gaps? Locum tenens is an effective means of increasing or preserving revenues and retaining patients.
Revenue loss due to single daily gap in physician coverage
Locum Tenens on the Rise
Locum tenens has become a widely accepted means of addressing staff shortages, filling open shifts, and securing coverage for holidays, vacations, or maternity leave. Locums also allows organizations to trial a physician before offering a permanent position.
Across the 90% of healthcare facilities that used locum tenens in a recent survey year, the quality and skill level of the physicians was rated as excellent or good in the vast majority of cases. Four out of five reported the value provided by locums doctors was worth the cost.
As the physician shortage intersects with freelance workforce trends, locum tenens will emerge as a key strategy in healthcare staffing and recruitment.
Percentage of facilities stating that locum tenens physicians are worth the cost