Key Points
- The locum tenens industry is not as heavily-impacted by the economy.
- Opportunities for locum tenens practitioners are still increasing.
- Register with multiple staffing agencies to increase your options.
Photo: Getty Images/ Nikolai Punin
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It may have taken countless hours of debate, compromises, and number crunching, but President Obama's economic stimulus package
was finally signed into law last month. Despite all the plans to jump-start things, the overall economy is still slow to rebound
with unemployment figures creeping upward, experts issuing warnings of impeding inflation, and stale credit markets sitting
idle.
What does the current economic situation mean for locum tenens physicians and non-physician providers? LocumLife gathered some of the staffing industry's top executives to comment on the current status of the marketplace, strategies practitioners
can implement in response to the financial upheaval, and how well the locum tenens industry is positioned to weather this
fiscal storm for future success.
HOW HAS THE ECONOMIC DOWNTURN AFFECTED THE LOCUM TENENS INDUSTRY?
Al Bryant (AB): I do not want to say the locum tenens industry is "recession-proof," but it appears to be more sheltered than others. Chris Cain (CC): With regard to the last 12 months, there have been only small and minimal changes in the number of providers we place. Part
of that may be because we are a more regional agency. What we have experienced more in recent months has been a change in
the number of contracts in some settings and an increase in others. Overall, things are still looking favorable.
But now, more than ever, staffing company representatives need to be very realistic in our discussions with client healthcare
organizations and physicians about expectations and the need for flexibility. Although we are in a period when clients are
tightening budgets and looking to cut costs, they also have to maintain quality staff and prepare for the increased demands
an aging population will put on the system. This need will open up a steady stream of future opportunities. I am extremely
optimistic.
Tim Boes (TB): On the national stage, we continue to operate in a positive atmosphere. The locum tenens industry has survived difficult
economic cycles before, but this time we must take a closer look at the marketplace through our clients' and providers' eyes
because they are under more fiscal pressure.
I believe the industry will continue to grow, regardless of the economic outlook. Locum tenens is a viable staffing solution,
especially because the physician shortage will continue to be a challenge for quite some time. However, we are all waiting
to see what the new administration has planned for healthcare reform and what positive effect that may have on the locum tenens
industry.
HAS THE AVAILABILITY OF CONTRACTS CHANGED?
The Participants
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TB: We have seen opportunities open up. Still, in certain geographic pockets and at certain times of the year, there have been
a few cancellations. For example, some people are canceling their vacations due to economic pressures, and as a result, there
may be a reduced need for contingent staffing.
Dana Sirstins (DS): There have been some shifts in the types of practice settings and geographic locales, but the number of opportunities has
remained stable and we have seen an increase in physician and non-physician provider applicants.
AB: In our experience, more healthcare administrative positions have been affected by the downturn. Opportunities for providers
who are income generators, like locum tenens physicians, are increasing. This increase also may be influenced by the deflated
real estate market. The costs associated with permanently relocating a new hire are even greater because people are having
difficulty selling their homes, not to mention securing financing to purchase a new house.
CC: There are locum tenens opportunities for the taking. However, some clinics are switching from physicians to nurse practitioners
and/or physician assistants in order to maintain patient flow at reduced costs, especially in rural areas. In these cases,
the need for locum tenens mid-level providers may increase as well.
