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Newly Elected NALTO President Matt Young Comments on Locum Tenens Industry’s Evolution and Future
Adapted from Locumpedia’s exclusive feature story published May 18, 2021
Following one of the most challenging years on record, especially for the healthcare industry, the National Association of Locum Tenens Organizations (NALTO) has a new president: Matt Young, chief operating officer for All Star Healthcare Solutions.
Voted into office by the NALTO board a year early following Matt Erickson’s departure from the industry in mid-April, Young sees the proverbial glass as half-full, especially when it comes to the locum tenens industry.
Young began his healthcare staffing career as a consultant in Weatherby Healthcare’s anesthesia division in early 2004. He joined All Star Healthcare Solutions, then a permanent-placement firm for physicians and advanced practice clinicians, in February 2010 as executive vice president and director of operations. While co-founding and developing the company’s locum tenens staffing division, he rose to chief operating officer and managing partner within less than a year. He now approaches 12 years with All Star Healthcare Solutions.
COVID-19’s Effects on the Industry
When asked whether the global pandemic has changed the industry in any lasting way, Young observes, “Facilities view us more as partners. The providers who work with us are no longer viewed as substandard. The business is no longer transactional — it’s much more strategic.”
Young believes the locum tenens industry is “recession-resistant but not pandemic-proof. Nevertheless, we have the ability to help the country in a time of great need.” He says the main healthcare-industry indicator shows “available days” for locum tenens clinicians back to 90- to 95-percent of “normal.”
When asked how and to what extent the pandemic changed demand for clinicians across the country, Young suggests several factors currently at play:
- A lot of physicians retired early during the pandemic.
- Work/life balance has become increasingly important, especially for clinicians.
- Trends among patient populations most seriously affected by COVID-19 suggest there should be more emphasis on preventive care.
- The pandemic changed everything for critical care: ICU departments will be beefing up and planning better for the future.
- Healthcare facilities will be better staffed with hospitalists to provide in-patient care.
- The primary care movement toward concierge medical practice*(AKA, “retainer medical practice”) will gain momentum, as it allows physicians to better monitor and manage patient care.
Emerging Industry Trends
Considering Young’s 17+ years’ experience, we asked him about the locum tenens industry’s evolution over the past couple of decades and any emerging trends. Of course, he cites the evaporating, if not almost nonexistent, stigma associated with working locum tenens today. Further, he observes:
- “More providers are working locum tenens full-time.
- “More providers are willing to serve areas of great need.
- “Regardless of MSP (managed service provider) technology, agencies are still needed.
- “Clients now expect a higher level of service than they did in the past. Service has become the differentiator. (Thus, All Star’s “red-carpet service” for associates, providers, patients, clients and community.)
- “Demand will continue to drive the industry. Partially because of so many clinician departures, a massive deficit in the next 5 to 10 years is likely — especially considering the long lead-time required to produce new physicians and advanced practice clinicians.
- Also, patient engagement is already on the rise, and that trend will only grow.” Noting All Star has made patients part of its mission statement, Young said it’s gratifying to see the thank-you letters and photos the company receives for the providers sent and the lives affected by their care.
Asked about the industry outlook for the remainder of 2021, Young — ever the optimist– suggests, “2021 probably will be a ‘catch-up year.’ But the future’s so bright you gotta wear shades!”
* Also known as “retainer medical practice,” “concierge medical practice” describes a relationship between a patient and a primary care physician in which the patient pays an annual fee or retainer. This may or may not be in addition to other charges. In exchange for the retainer, doctors agree to provide enhanced care, including principally a commitment to limit patient loads to ensure adequate time and availability for each patient.
All News Is Locums
Panacea Financial to Partner with LocumTenens.com
(Edited from Yahoo Finance/PR Newswire, May 4, 2021)
Panacea Financial (Panacea), a division of Primis (NASDAQ: FRST), has announced a partnership designating the company the preferred banker and lender for clinicians working through LocumTenens.com.
Created by doctors, for doctors, Panacea was founded on the premise that traditional banks don’t serve the financial needs of medical professionals well — especially during their educational and early-practice stages. The “challenger bank” * will offer LocumTenens.com-affiliated clinicians exclusive loan and deposit products, as well as access to Panacea’s national digital banking services and financial literacy courses.
“Locum tenens healthcare providers’ work schedules and finances are unique and they need a banking solution that can travel with them wherever they provide services,” Tyler Stafford, CFA, CEO and Panacea co-Founder said. “We are thrilled to work with LocumTenens.com to offer personalized financial solutions and financial education.”
“As 1099 contractors, locum tenens clinicians face unique self-employment challenges,” LocumTenens.com President Chris Franklin noted. “Panacea’s full suite of financial services, expertly tailored toward medical professionals at all stages, greatly complements our healthcare staffing services. We believe Panacea’s offerings will help alleviate clinicians’ common financial concerns so they can focus on patient care.”
Panacea Financial offers products in all 50 states as well as Washington, D.C. and Puerto Rico. For more information, please visit www.panaceafinancial.com.
* British term for a relatively small retail bank set up with the intention of competing for business with large, long-established national banks.
All Star Healthcare Solutions Winner of 2021 Top Workplaces National Culture Excellence Awards
(Edited from PRNewswire release, May 12, 2021)
All Star Healthcare Solutions℠ has earned Energage’s 2021 Top Workplaces National Culture Excellence quarterly employer recognition awards in four categories: Appreciation, Direction, Empowering Employees and Values.
Like all Top Workplaces awards, results are based solely on employee feedback from an anonymous, science-based, employee engagement survey. “Our people are amazing,” All Star CEOKeith Shattuck said. “We have been working remotely since March 2020. Throughout a time like no other in recent history, our caring, high-performance culture has continued to flourish. It comes down to absolute dedication, teamwork, and a genuine affection for each other and those we serve.”
Energage President and CEO Dan Kessler said his company introduced its National Culture Excellence awards to enable organizations to objectively validate their culture-forward efforts. “The awards this quarter are on point with what matters most to employees,” Kessler noted.
ICON Medical Network Holdings Acquires Independence Anesthesia Services
(Edited from BusinessWire release, May 12, 2021)
ICON Medical Network Holdings (ICON) has acquired Athens, Ga.-based Independence Anesthesia Services (Independence), a locum tenens staffing agency focused primarily on anesthesia providers for more than 17 years.
In welcoming Independence and its founder Ed Long, ICON President and CEO Janet Elkin said the acquisition will help ICON meet healthcare staffing needs in a high-demand specialty across the nation. “As more outpatient and elective procedures start taking place again, the need for anesthesia care, especially medically underserved and rural communities, continues to grow,” Elkin said. “Adding Independence’s expertise helps us provide a solution benefiting both patients and healthcare facilities.”
The Healthcare Staffing Story
Cross Country Names Chief Information Officer
(Edited from Staffing Industry Analysts, May 12, 2021)
Cross Country Healthcare Inc. (NASDAQ: CCRN) has appointed Phillip Noe chief information officer, replacing Bill Hanlon, who is retiring.
“Phil’s appointment reflects our ongoing digital transformation,” Cross Country co-founder and CEO Kevin Clark (to whom Noe will report) said. “His extensive information technology experience spans every aspect of the software engineering lifecycle.”
Before joining Cross Country, Noe held similar leadership roles at Vaco LLC, The Adecco Group, Advanced Solutions Practice Consulting Group and Fidelity National Information Services.
Aya Healthcare Acquires Dawson Healthcare MSP Division
(Edited from Staffing Industry Analysts, May 11, 2021)
Healthcare staffing firm Aya Healthcare struck a deal to acquire Dawson Healthcare, the MSP (managed service provider) division of Columbus, Ohio-based Dawson. The deal was expected to close on May 16.
“The events of the past year have made contingent staffing needs increasingly urgent and critical to healthcare system operations,” Dawson Healthcare Senior Vice President Nancy Luce said, “To ensure sustainable growth with scalability into the future, we are pleased to join Aya Healthcare.”
The deal involves only the Dawson’s Healthcare division; the company will continue providing nonclinical staffing in a number of sectors.
News to Use
Contract Review Special Offer from Physicians Thrive
“For many physicians, a new job offer comes with the promise of a better position, higher salary, and valuable experience. However, when you accept an employment offer without a professional contract review, you may be signing up for more risk than you realize,” according to physician financial advisory group Physicians Thrive.
A professional contract review can help you understand how an employment opportunity compares to industry standards with regard to compensation, benefits, productivity expectations, call schedule and more. During a contract review with Physicians Thrive, “a physician-specific attorney and financial advisor will identify any potential issues in your contract and provide suggested revisions or negotiation assistance,” according to a promotional release.
Physicians Thrive reports having reviewed more than 6,000 physician employment contracts and helped countless doctors secure improved salary and employment offers.
Right now, the firm is offering a $25 discount on all contract review services. To take advantage of this offer or to learn more about contract review, email info@PhycisiansThrive.com or call 877-744-9474 and mention the discount code “Contact Review 2019.”
Save the Date: AAPS 78th Annual Meeting
(Edited from AAPS.org)
September 30, 8 am – October 1, 12:00 pm, Pittsburgh, Pa.
Draft Schedule:
Thursday, Sept. 30: Board of Directors Meeting (8 am to 6 pm)
Thursday, Sept. 30: Welcome Reception (7 pm to 9 pm)
Friday, Oct. 1: General Session (8 am to 9 pm)
Saturday, Oct. 2: General Session (8 am to Noon)
Saturday, Oct. 2: Board of Directors Meeting (1 pm)
How ‘Bout This?
AMA Recognizes Senior Physicians in May
(Edited from AMA Senior Memebers Section post)
In honor of Older Americans Month, the AMA celebrates senior physician members (those ages 65 years and above) throughout May. Senior physicians bring a wealth of experience to their communities and play a vital role in their patients’ health, and can stay active and involved with the AMA both as they continue to practice medicine and once they retire. Any AMA physician 65 years and above is an automatic member of the Senior Physicians Section (SPS), whether working full-time, part-time or fully retired.
Some facts about senior physicians:
- There are more than 340,000 senior physicians in the US. The AMA’s SPS comprises more than 57,900 physicians, representing 23.2% of AMA membership.
- The AMA’s SPS tackles issues related to ageism, senior physician competency, hearing loss, healthy aging and more.
- The AMA supports its senior members even as they prepare to leave medicine, providing resources to help them make smooth transitions into retirement.
