While I have posted previously on how various business models in the practice of medicine, there is one business that is actually quite profitable for a physician who does not want the cost or hassle of running a private solo, group, or managed healthcare type of medical practice. That is the job of being a locum tenens.
A “locum tenens” position is a temporary physician position where a doctor fills in a need for a short term assignment. Typically it is a traveling position, and the doctor will register with a locums company. A hospital or practice needing a physician on a short term basis can hire a locum temporarily. It is actually quite similar to the “traveling nurse” type of career where nurses move from one location to another.
There is a small percentage of physicians who work as locums permanently with no home practice. In this day and age of shift work type of medicine, the locum position is probably most similar to an ER physician’s career where the work is shift work: you come to work for a condensed period of time then you relax and take it is easy when not working.
What is attractive for a physician to do locums is that they are filling a need and typically get paid by the day, with travel and lodging included. Thus, that physician does not have to worry about running a medical practice or hiring employees or getting patients or any overhead.
I personally know a handful of friends who do locums work. They are semi-retired and want to travel a bit while also working to make some money. They don’t want to retire fully because they don’t want to lose their skill set.
As far as compensation, you are a “hired gun” and can make good money. It is an eight-hour workday with overtime usually. For those in specialties in demand, a locum position can be several thousand dollars per day. You don’t necessarily get the satisfaction of building relationships with patients or running your own business, but you can have a better life if you set it up right.
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