Right Out of Training
Locum tenens physician and creator of the personal finance website “Physician on FIRE (Financial, Independence, Retire, Early)” Leif Dahleen created PoF to inspire physicians to take control of their future and take advantage of the opportunities available to physicians to gain financial independence.
Dahleen’s experience with locum tenens began immediately after he finished his residency. He practiced almost exclusively as a locums doc for nearly two years. He says he looked at each assignment as a “try before you buy” opportunity and claims he was offered a job in “just about every place [he] worked.”
This certainly doesn’t happen with every locum tenens assignment, but it does happen. Dahleen made “the locums life” work so well that he achieved financial independence by age 39. Then the former anesthesiologist started a blog through which he teaches others how to do the same.
Medical school requires years of studying and training far beyond an undergraduate degree. New doctors fresh out of school are often left with an average debt between $184,000 – $254,000. In the top 15 medical schools where students left with the “most debt,” the average was about $254,000.
But debt varies from school to school, and there are different variables like whether or not the students attend a public vs. private school or attend an in-state versus out-of-state institution. That balance of debt grows during the 3-to-7-plus-year stretch of residency and fellowship training before a doctor finally starts earning a physician’s salary–the average stipend in a resident or fellow’s first year after medical school is $57,863. In many of those cases, locum tenens assignments help young doctors ditch the debt.
Earn and Learn
Beyond the financial rewards of locum tenens for new physicians, Dahleen says locum tenens became a great training ground. The time in residency helps a physician become proficient in their skills and learn how to work in any scenario, but locum tenens assignments offer more opportunities than a residency by exposing physicians to a variety of workplaces and work styles.
Dahleen trained at a tertiary care facility and had no exposure to rural medicine, limited supervisory experience, and exposure to covering either the OR or OB, never both. But locum tenens afforded him plenty of opportunities in different states, practice sizes, and settings—both urban and rural. This variety is valuable and helps make physicians well-rounded and more adaptable.
If you’re a resident, stories like these might have you wondering, “When can I get started?”
While it’s possible for physicians to accept locum tenens assignments in their last six months of residency (in some specialties), some residency programs, hiring facilities, or agencies won’t allow it.
But physicians pursuing a fellowship are eligible for placement in their residency specialty as long as they’ve been doing clinical work within that specialty. Working locum tenens right out of training is also possible for physician assistants and nurse practitioners, but it can be challenging to find locum assignments if you have “minimal clinical experience.
Mid-Career Malaise
Locum tenens agency blogs and websites offer plenty of stories illustrating the value of locum tenens practice for more experienced physicians.
Doctors in the middle of their careers often work locum tenens as a way to get experience in a bunch of different locations or environments almost as a way of compiling research before deciding to take on a new, permanent position. Other physicians will work locum tenens as a way to make some extra income and supplement the pay they make at their day job.
Sometimes locum tenens simply offers a welcome change of pace: “In times like these, when you’re asking yourself whether you want to leave for good or just need a break, the opportunity for a temporary change is perfect,” says Dr. David Beran, doctor of osteopathic medicine. “I agreed to cover a set amount of hours each month for a set period of time and when those months were done, I had no obligation to return. By doing locums, I was able to explore new opportunities without having to commit.”
Doctors can get tired of working in the same places on the same types of cases, but working in a new system lets physicians reset and get a fresh perspective on their careers by applying medical skills in new ways at new locations.