Founded in July 2019, UrologyLocums.com is the first and only Urologist-Owned, Urology-focused locums staffing agency.
WHAT IS LOCUMS?
The term locum tenens, colloquially referred to as locums, is a latin phrase that translates roughly to “placeholder.” Although that was the original intent of locums, nowadays locums is used to refer to any independent contracting work done by physicians.
Locums physicians are much more prevalent than most people would guess with studies showing about 94% of US Hospitals using locums physicians each year andapproximately 44,000 physicians actively doing locums work. Some studies show locums as accounting for 6% of the total physician workforce.
Locums physicians are much more prevalent than most people would guess with studies showing about 94% of US Hospitals using locums physicians each year andapproximately 44,000 physicians actively doing locums work. Some studies show locums as accounting for 6% of the total physician workforce.
What are the benefits as a urologist of working as a locum vs. being a full-time employee of a hospital?
There are two primary benefits associated with working as a locum:
INCOME
Locums urologists make substantially more money on a per-day basis
than their counterparts who are working full-time in a traditional employed model. Simply put, when you are flexible with location and go to the places that most need urology help, you are the beneficiary of the natural variations in supply and demand. You can find specific examples below under the pay examples section. |
FLEXIBILITY
You can pick when and where you want to work. If you want to work
48 weeks/ year at busy facilities and maximize your income, you can do that. If you want to practice part-time and focus on side projects, hobbies, traveling, or anything else, that is an option as well. |
REMUNERATIONAt UrologyLocums.com we have a proprietary three-tiered flat rate structure that guarantees our doctors are compensated fairly for their services. There are small ranges within each tier to account for a desirability premium- simply put, the laws of supply and demand dictate that the more desirable a location is, the lower the pay rate will be.
*** Fill out the contact form below to receive more details on reimbursement rates*** |
WHAT DOES INDEPENDENT CONTRACTOR MEAN FOR MY TAXES?For all work performed as a UrologyLocums.com physician, you will be paid directly by UrologyLocums.com as a 1099 independent contractor. Instead of a W-2, you will be given a W-9 at the end of the year and will be responsible for paying your taxes. We advise talking to a tax professional regarding 1099 work and the numerous tax benefits associated with it as well as different strategies for accruing for taxes as a 1099 contractor.
Alternatively, some physicians elect to form a corporation specifically for locums or to receive payment for their services directly to their practice. We can accommodate this request, ask your UrologyLocums.com consultant for more information on working as an entity rather than a 1099 contractor. |
HOW DO I GET PAID FOR COMPLETED WORK?
On the Friday following your last day worked you will receive payment via direct deposit as well as an email detailing your pay amount.
Pay Examples- Comparing Locum Tenens vs. Hospital/Group employment:
Pay Examples- Comparing Locum Tenens vs. Hospital/Group employment:
|
Average Urologist Salary: $400,000; 4-6 weeks of paid vacation Weekly Income: $8,333 - $8,695 Daily Income (Not including weekends): $1,818 |
Expected Income of Locums Urologist @ $2,000 daily Weekly (5-day) Income: $10,000 Weekly (7-day) Income: $14,000 Annual (48 week) Income: $480,000 Half-Time (26 week) Income: $260,000 |
Expected Income of Locums Urologist @ $2,500 daily Weekly (5-day) Income: $12,500 Weekly (7-day) Income: $17,500 Annual (48 week) Income: $840,000 Half-Time (26 week) Income: $455,000 |
|
|
