THE OFFICIAL GUIDE Everything You Need to Know About Being an Independent Practitioner INCLUDING: P Income potential P Tax advantages P Scheduling options P Travel planning P Work/life balance benefits P How to get started1 WAPITI MEDICAL STAFFING www.wapitimedical.com (888) 733-4428
THE OFFICIAL GUIDE | INTRODUCTION INTRODUCTION Exploring a new region of the country, having a flexible work schedule, or wanting a freedom-based lifestyle with great income potential are just a few reasons why you might consider making the leap from hospital staff to locum tenens. Whether you are just finishing your residency or sunsetting your career, there is no better time than now for you to become an independent practitioner. WHAT IS LOCUM In the following guide, we break down everything you need to TENENS? know about becoming an independently contracted practitioner. We will arm you with the information you need to make an Merriam-Webster informed decision. From how to structure yourself as a business, defines locum tenens as to the advantages you will see when tax time rolls around, to “a medical practitioner what you can expect from your income — we make it easy for you who temporarily takes to fully understand the lifestyle of an independently contracted the place of another.” practitioner. Here at Wapiti, we go the extra mile and call INDEPENDENT CONTRACTING IS PREDICTED TO GROW our locum practitioners “family.” Demand is building for independent practitioners. An August In fact, we prefer not 2017 report from Staffing Industry Analysts notes that more than to use the formal term locum tenens — you 90% of the U.S. healthcare industry uses locum tenens providers are much more likely to hear us refer to our in their medical facilities. Americans over 65 are providers as one of expected to grow from 40 “us.” Driving factors of this rise include million in 2010 to 73 million an increased demand for health in 2030, representing a2 care providers in underserved CAGR of ~3.0%. areas and a provider gap that many facilities experience when employees take vacations, go SOURCE: US CENSUS BUREAU on maternity leave, or resign positions, causing long-standing job openings that are difficult to fill. These factors create a gap in services in many parts of the country. Utilizing locum practitioners closes this gap and enables rural and critical access hospitals to function at their full potential. As baby boomers continue to age and the Affordable Care Act makes it easier for more Americans to access healthcare, the demand for health care providers will continue to increase and the current provider gap will expand. WAPITI MEDICAL STAFFING www.wapitimedical.com (888) 733-4428
THE OFFICIAL GUIDE | ABOUT WAPITIABOUT WAPITIWapiti specializes in placing locum providers in communities throughout the United States. Ourstrength is covering Clinic, ER, Hospitalist, Urgent Care and Anesthesia with quality physicians andadvance practice providers.Our motivation has always been and continues to be maintaining close relationships with ourpractitioners and partner facilities. We support our providers and work tirelessly to help themachieve the freedom-based lifestyle they look for in their employment. We focus on being family-friendly, and it reflects in everything we do.Wapiti is a multi-year recipient of the Best of Staffing® Award forservice excellence putting us in the top 2% of all staffing groups.WHAT MAKES WAPITI DIFFERENT?Wapiti isn’t like most staffing agencies. We set ourselves apart byputting our providers and facility partners first. To prove that asour mission, we provide to you the following: 1. Freedom of Schedule 2. Freedom of ChoiceFREEDOM OF SCHEDULECreate space for things you love by choosing your own schedule.When you partner with Wapiti, you are no longer bound by aschedule imposed on you by someone else. Whether your currentemployer is over- or under-scheduling you, or you feel as if yourentire life revolves around work, you will love the freedom thatcomes from having more choice regarding when you work. As anindependently contracted practitioner with Wapiti, we will makeevery possible accommodation to help you create the scheduleand work/life balance that you desire.FREEDOM OF CHOICEWhy go from one strict set of rules to another? Unlike most other staffing companies, we will neverask you to sign an exclusivity agreement. This essentially makes you a free agent, able to continueyour full-time employment or even take on other contracted work if you desire. Our goal is to helpyou achieve the income, schedule and work/life balance you deserve.3 WAPITI MEDICAL STAFFING www.wapitimedical.com (888) 733-4428
THE OFFICIAL GUIDE | HOW TO GET STARTEDHOW TO GET STARTED & FIND THE RIGHT FIT WHAT DOES FLEXIBILITY REALLY LOOK LIKE?There is only so much time in a month — if you currentlyspend most of yours at the hospital dealing with administrative At Wapiti, we match thepressures and stress, or worrying about whether you’d like to needs of our providerskeep practicing at all - it might be time to seriously consider the to our openings — notlocum lifestyle. the other way around. Our scheduling teamWhatever your reasons, there is a lot to learn when you first will work directly withget started. Independent practitioners enjoy more freedom and you to ensure you areflexibility because they can choose when, where and how much satisfied with yourthey work. This control results in a more balanced life, a great location, shifts andincome that can be scaled up or down depending on how much travel arrangements.one chooses to work and a fulfilling career that is more about When a provider wantscaring for patients than dealing with hospital politics. to pick up shifts or change locations, weHOW DO I FIND THE RIGHT FIT? provide options to make those requests aThere are many benefits to becoming an independently reality.contracted practitioner, but there can also be a lot of decisions tomake. WAPITI FACTYou will choose your location, position, shifts and schedule. In Many of our hospitaladdition, each location and position offers a different pay rate contracts are in areasand travel reimbursement plan to consider. with low volumes, allowing you to workDon’t let this process overwhelm or intimidate you as you begin longer shifts with lowerto explore your options. There are a few key questions to ask stress levels.yourself early on: üüHow far am I willing to travel? üüHow frequently do I want to travel? üüWhat length of time do I prefer to be away? üüWhat volume of patients am I comfortable covering? üüWhat length of shifts do I want to work? üüWhat pay rate do I need?As you answer these questions, visualize yourself traveling forwork and controlling your schedule. The transition from being4 WAPITI MEDICAL STAFFING www.wapitimedical.com (888) 733-4428
THE OFFICIAL GUIDE | HOW TO GET STARTED employed by a hospital, clinic “One of the draws that we or another agency to being a have is to schedule several self-employed independent days in a row. For me, back- practitioner is about finding to-back days, it just works the best fit for you. Keeping an open mind will allow you easier into my schedule.” the flexibility to try out a DR. DAVE RUZICKA few things first-hand beforeWAPITI FACT making a long-term commitment. The adventure and journey ofWapiti has a living and working in a new location can be better than you everCredentialing Teamwho will assist you imagined.with the credentialingand licensing HOW DOES CREDENTIALING & LICENSING WORK?processes. Ourprofessional staff will Credentialing and licensing processes differ from state to state,guide you every step of and a great staffing agency will assist and guide you throughthe way, even going so them. Returning requested paperwork or other materials asfar as to help you apply quickly as possible is the key to getting credentialed and licensedfor state licenses. in a timely manner. Most lags occur due to the time it takes you to produce these items — so be prepared and have them ready.There’s never a doubt This will help you to get on the schedule when you desire.or worry when you areon board with Wapiti. 3 SCHEDULING SCENARIOSWe make the processas seamless as possible Whether you are a mom looking to work one weekend a month,and answer all your a retired physician desiring a few lower-volume shifts, or anquestions quickly. Advanced Practice Provider looking for full-time work, you have the freedom to create your own ideal schedule. Here are a few scenarios in which an independent practitioner’s schedule fits various life situations: Are you a parent who wants more time at home? Work long weekends - two 96-hour shifts per month - and enjoy being home with your family the rest of the month!Are you an employed or retired health care provider desiring supplemental income? Earn extra moneyby working shifts at a lower-volume facility. This is perfect if you’d like to work more but don’twant to take on the stress of higher-volume shifts.Are you a health care provider capable of greater income? Work longer shifts at lower-volume facilities as a solo provider and enjoy flexible part-time or full-time schedules.5 WAPITI MEDICAL STAFFING www.wapitimedical.com (888) 733-4428
THE OFFICIAL GUIDE | LOGISTICSLOGISTICS: HOUSING, TRAVELING ANDBALANCING TIME AWAY FROM HOMEWHERE DO I STAY? LODGING & TRAVELWhere you stay depends on the placement you choose. Some Wapiti works ashospitals provide their own housing, while others may pay for your travel agent toyou to stay in a hotel or motel. You will fill a vital role in that coordinate and arrangefacility, and they will do a great deal to help you out. Ultimately, your lodging for eachthe Logistics Coordinator at Wapiti will coordinate your stay and placement. We areensure that you are comfortable. well-known for being accommodating andHOW DO I GET THERE? flexible.Travel times and arrangements vary by placement and your home In the event that issueslocation. Many providers fly to and from their work location, arise while traveling,while others are close enough to travel by vehicle. Travel expenses Wapiti provides a 24/7are sometimes reimbursed but are always tax-deductible if not toll-free number thatreimbursed. Expenses will be outlined in your agreement. You do we guarantee will behave the option to refuse reimbursement and use travel expenses answered. Our numberas a tax deduction instead. one goal is to make it easy for you to get toWHAT ABOUT MY FAMILY AND LOCAL COMMITMENTS? work and enjoy your location without anyIt’s only natural to consider “I have the freedom to live additional stressors.your family and other local anywhere, work when andcommitments when thinking where I choose, scheduledof becoming a traveling around my priorities -provider. The beauty of being family and vacation.”an independently contractedpractitioner means you are DR. THOMAS FENNESSYyour own boss. You have theultimate say in your schedule and can decide how long to be awayfrom home and how often you want to travel.You will often have the option to schedule shifts back-to-back, allowing you to spend larger amounts of time at home with your family. Another option is tobring your family with you to explore the region while you work. While this is not always possible,sometimes - depending on the size of your family and the facility you’re working with - it can beaccommodated and be a fun adventure for the whole family.6 WAPITI MEDICAL STAFFING www.wapitimedical.com (888) 733-4428
THE OFFICIAL GUIDE | THE BUSINESS OF INDEPENDENT CONTRACTING THE BUSINESS OF INDEPENDENT CONTRACTING: WHAT TO EXPECT AND HOW YOU’LL GET PAID HOW WILL MY EMPLOYEE STATUS CHANGE? As an independent practitioner with Wapiti, you will be doing business as a 1099 contractor. This means you will be your own business (and your own boss!).INCOME POTENTIAL You will need to decide whether to establish your business as aAT WAPITI sole-proprietorship, LLC or corporate entity. There are different tax advantages and business reasons associated with each type.At Wapiti, the annual To obtain the best information and advice given your specificincome potential for a situation, we recommend consulting your accountant or anhealth care practitioner attorney.who works “full-time”(which we define as DO I STILL GET BENEFITS?only 10 shifts permonth) can be in excess When entering into business contracts as your own entity, theof $250,000. This variesdepending on rate of staffing agency with whom you contract might not withhold taxespay and shift length. or provide you with the sameMALPRACTICECOVERAGE AT WAPITI employee benefits you received “It’s like a family. They areWapiti will cover your as a W-2 employee. Items very friendly, flexible, andmalpractice insurancethrough our carrier such as health insurance, willing to work with yourCoverys. Whether youare part-time or full- retirement (401K), long-term schedule. I have no reasontime, we make sure and short-term disability, and to look anywhere else.that your malpractice paid time off will become your They’re not like the typicaltail coverage is responsibility. management.”provided. Coverys is anA rated company. Our WHAT ARE THE TAX DR. STEVEN BOCKHOLDpolicy limits are $1-3 ADVANTAGES OF HAVING MYmillion. OWN BUSINESS? There are numerous tax advantages when you establish your own business. Some of these include writing off your mileage when traveling for work and even deducting some business expenses. Because there are many rules and regulations - both federal7 WAPITI MEDICAL STAFFING www.wapitimedical.com (888) 733-4428
THE OFFICIAL GUIDE | THE BUSINESS OF INDEPENDENT CONTRACTINGand in your home state, we recommend you visit the following WAPITI FACTresources to learn more: Wapiti pays providers üüBusiness federal tax information: https://www.irs.gov/ via direct deposit, businesses eliminating any hassles around payday. üüSmall business federal tax information: https://www.irs. gov/businesses/small-businesses-self-employed üüBusiness state tax information: https://www.sba.gov/ We build providers’ business-guide/manage/pay-taxes-business-state-federal confidence in their businesses byWHEN AND HOW DO I GET PAID? delivering accurate payments as scheduled.Your pay schedule will vary depending on your staffing company,but it is fair to expect a consistent schedule every month. A fewquestions to ask are:üüAm I paid via direct deposit or with a physical check mailed directly to me?üüHow does the agency track my shifts?üüWhat if there are issues? How are problems resolved?THE WAPITI PROCESSRecruitment Team: Our Recruitment Team will be your first source of information as you dip your toesinto becoming an independent practitioner. From pay rate to placement location and schedule, ourRecruitment Team will guide you every step of the way.Credentialing Team: After you come on board, you will work with our Credentialing Team to obtain thefacility privileges needed to add you to the schedule. We will even help you apply for state licenses.Scheduling Team: The Scheduling Team will be your long-term partner and manage all details aroundyour placement(s). Your designated scheduler will answer any questions you have as you take yourfirst assignment and throughout your time with Wapiti.24/7 Management Access: When you are on-location and have questions or issues, or even when youare home and curious about something — our 24/7 toll-free number is available for you. We neverleave our providers hanging without answers or the resources needed to ensure success.8 WAPITI MEDICAL STAFFING www.wapitimedical.com (888) 733-4428
THE OFFICIAL GUIDE | CONCLUSIONGET STARTEDCongratulations! You made it this far — you are ready to take the first step!We hope this guide has been a helpful roadmap for your journey to independence. We would love tobe your staffing agency of choice — and more than that, your friends and advisors. We invite you toexplore our current openings and contact us to learn more! CONTACT US TELEPHONE: (888) 733-4428 EMAIL: [email protected] FAX: (888) 242-9992 At Wapiti Medical Staffing, we are dedicated to connecting excellent providers with our partner hospitals and facilities. With Wapiti, you are in control of your schedule. Our competitive benefits include: • Flexible schedule • Credentialing assistance • Malpractice coverage • Travel and housing assistance • Online CME training • Staff available 24/7 to assist you Join our team today and help us provide excellence in healthcare to the communities we serve. 9 WAPITI MEDICAL STAFFING www.wapitimedical.com (888) 733-4428
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