The State Of The Locum Tenens Physician Industry Today

Rising Salaries, Increased Expectations, and Numerous Job Openings are on the Horizon With job seekers across the nation are expressing grave concerns about the hiring marketplace, those working within healthcare rarely have anything to worry about. If anything, there's a hiring crisis in favor of job seekers - one that's not likely to wind down any time soon. The situation is exacerbated by three major factors: 1. More Healthcare PatientsrnThe Baby Boomers are beginning to reach an age where an increased level and frequency of healthcare services is required, bringing a surge of new individuals into the care-side of the industry. Additionally, advancements in medicine have increased the overall lifespan of the population - meaning that older patients with chronic conditions are benefiting from healthcare services longer than the historical precedent. Additionally, newly added healthcare reforms will expand the number of younger individuals who seek healthcare - adding an estimated 30 million younger Americans to the burden carried by already short-staffed healthcare professionals. 2. Fewer Healthcare Workers Meanwhile, a great many of the current physicians are reaching retirement age. The AAMC estimates that nearly one third of all physicians will retire in the next decade (70% of all hiring will be to replace retiring Baby Boomers). Additionally, the professional standards for nurse practitioners, physician assistants, and other positions are requiring increasingly stringent requirements in education and certification, making the process more rigorous than ever before. The US Department of Labor has estimated that nearly 22% of all wage and salary jobs added to the economy between 2006 and 2016 will be in the healthcare sector. That's a lot of openings, and not all of them are easily filled. The Census Bureau predicts a 36% growth in the number of Americans over the age of 65, while the number of physicians available will increase by only 7% by 2020. This means that there will be an estimated 45,000 too few primary care physicians, and 46,000 too few surgeons and medical specialists by the end of the decade (source: The AAMC). By 2025, it's estimated that there will be a projected deficit that exceeds 130,000 physicians. 3. Poor Distribution Of Qualified Professionals While there is a general shortage of physicians and advanced practice professionals, some areas are in much greater need than others. Depending on the area and specialty, it's not uncommon for a hospital to spend years in search of a qualified professional. Healthcare facilities address this issue by bringing in locum tenens professionals. These specialists accept short-term positions in hospitals, where they fill in gaps where shortages exist. Those positions can exist in any medical facility that would employ a physician, as well as hotels. In exchange for their willingness to relocate every few months, locum tenens physicians enjoy superior pay, and the singular opportunity to travel throughout the country. Those that work with an agency evade the sometimes slow-to-come pay that is inherent with the work, ensure consistent employment, receive benefits, and are assisted in the details of state-by-state certification requirements. Agencies also provide the locum tenens with a consisting "hiring record" by providing them with a single employer, rather than 3-4 different employers each year. Moving Forward With Healthcare Jobs rnAs the nationwide shortage of physicians becomes increasingly profound, healthcare facilities are seeking for creative and practical solutions that will effectively address this crisis. Because of this, the need for locum tenens, as well as travel healthcare workers of other fields (travel nurses, hospitalists, nurse practitioners, physician assistants, therapists, etc.) will continue to be a growing and developing sector.