REPLAY: How we accidentally built a $1 million dollar locums business (Locum series part 6) #392

Docs Outside The Box

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Ever wondered what it's like to step off the beaten path and start your own locum tenens agency? We're two locums doctors who did just that, and we're here to share our unique journey. Answering the questions of 2 ER docs who want to start their own agency, we discuss our adventure from leaving permanent jobs, to setting up our physician-run agency, to the gratifying process of achieving seven-figure revenue. We also touch on the importance of streamlining processes and prioritizing fair compensation for providers.
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We go beyond just sharing our story. We take you through the knotty world of employing locum physicians, helping you understand the importance of clear contracts, treating physicians as independent contractors, and ensuring comprehensive medical malpractice coverage. We also cover the often overlooked, yet vital aspect of drafting a bulletproof schedule for doctors. We discuss automation, the challenges of managing a schedule manually, and the need for a strict cancellation policy. Trust us; these administrative details can make or break a locum agency.
Finally, we pull back the curtain on the business aspect of running a locum tenens agency. We discuss managing expenses, from setting up a doctor scheduling system to potential travel arrangements. And when it comes to growth, we share our experiences and insights on the pros and cons of expanding, and the importance of fostering strong relationships with hospitals and providers. Plus, we respond to questions from listeners eager to explore locum tenens, shedding light on the benefits and addressing common concerns. Our aim is to provide you with the tools and knowledge needed to take the leap into the world of locum tenens. So, tune in for an episode packed with practical advice, personal anecdotes, and plenty of laughs along the way.
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This episode is sponsored by:

Locumstory. Learn how locum tenens helps doctors make more and have the lifestyle they deserve!. Check them outHERE!

Set For Life Insurance. What the Darkos use for great disability insurance at a low cost!! Check them out HERE!

Chapters

1. Locums, Malpractice Insurance, and Podcast Updates (00:00:00)

2. Starting an Agency for Independent Contracting (00:04:18)

3. Paying Providers and Drafting Contracts (00:15:41)

4. Understanding Medical Staffing Contract Responsibilities (00:23:18)

5. Automating Scheduling for Doctors (00:37:52)

6. Medical Practice Expenses and Overhead Fees (00:42:40)

7. Onboarding Doctors and Travel Arrangements (00:46:04)

8. Starting and Growing a Locums Agency (00:53:40)

9. Locum Tenens and Course Availability Info (01:02:32)