7 Reasons Healthcare Professionals Should Consider Travel Assignments

Andi Stamper

May 1, 2023

Health & Wellness

Have you ever considered taking a travel position as a healthcare professional? Travelers are still in demand in a number of different disciplines and settings.

Working in healthcare is both rewarding and demanding, and it can be easy to fall into a routine. Luckily for healthcare professionals who are looking for a change of scenery, a locums travel assignment can be an excellent opportunity to gain new skills, meet new people, and experience new places. In this article, we’ll look at seven reasons why healthcare professionals should consider working on a locum’s travel assignment.

1. Flexibility

One of the most significant advantages of working on a locum’s travel assignment is the flexibility it offers. As a locum tenens provider, you have the ability to choose where and when you want to work. You can work as little or as much as you want, and you can take time off between assignments to travel or spend time with your family. This flexibility can be especially valuable for healthcare professionals who are looking for a better work-life balance.

2. Higher Pay

Locum tenens professionals are often paid at a higher rate than permanent staff, due to the temporary nature of their work. In addition, many locums tenens assignments offer bonuses and other incentives to attract top talent. This can be especially valuable for healthcare professionals who are looking to earn extra income, pay off student loans, or even save for retirement.

3. Professional Development

Working on a locums travel assignment can be an excellent opportunity for healthcare professionals to gain new skills and experiences. Working in a new environment can help you develop new perspectives, learn new techniques, and enhance your communication and collaboration skills. This can be especially valuable for healthcare professionals who are looking to advance their careers or pursue new opportunities.

4. Adventure

If you’re someone who enjoys travel and adventure, a locums travel assignment can be an excellent opportunity to see new places and meet new people. You’ll have the chance to explore new cities, try new foods, and immerse yourself in different cultures. This can be especially valuable for healthcare professionals who are looking for a change of pace or a break from their daily routine.

5. Networking

Working on a locums travel assignment can be an excellent opportunity to expand your professional network. You’ll have the chance to meet new colleagues, work with different teams, and collaborate with other healthcare professionals. This can be especially valuable for healthcare professionals who are looking to build their reputation and establish themselves as experts in their field.

6. Exposure to different healthcare systems

Working in different healthcare systems can provide healthcare professionals with valuable insights into how other facilities operate. You’ll be exposed to different technologies, processes, and approaches to patient care. This can be especially valuable for those who are looking to develop a more holistic understanding of healthcare.

7. Increased job satisfaction

Finally, working on a locums travel assignment can be an excellent way to increase job satisfaction. You’ll have the opportunity to work in a new environment, learn new skills, and meet new people. This can help you feel more engaged and fulfilled in your work and can lead to increased job satisfaction overall.

In conclusion, a locums travel assignment can be an excellent opportunity for healthcare professionals to grow personally and professionally. And with its flexibility, higher pay, and professional development opportunities to name a few, it’s no wonder that more and more healthcare workers are turning to travel assignments as a way to enhance their careers and improve their quality of life.

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STEPS TO FOLLOW TO BUILD A 1099 BUSINESS:

Protect yourself and your assets by performing your contract work under the umbrella of a business entity. Think about what you’d like your proposed business to be named!
- Visit your Secretary of State website to see if your chosen name is available
- Check with your state’s Board of Nursing for state specific requirements
File applicable business set-up paperwork

The S-Corp Edge: How you structure your 1099 CRNA business will have far-reaching consequences, whether it is a sole proprietorship, a limited liability corporation (LLC), or an S corporation (S-corp).
An S-corp may offer several advantages over other business structures when it comes to taxation. In this structure, a business owner is called a shareholder, and the business owner is recognized by the IRS as an employee of the business. What this means is that the business owner must pay themselves a salary through the corporation. The S-corp pays their payroll taxes, which can in turn be deducted as a business expense. Income tax is paid through its owners’ tax returns based on their percentage of ownership. Moreover, any remaining profits have a lower tax rate than regular income. An S-corp may also allow 1099 CRNAs to avoid a higher tax level that other self-employed contractors pay for Medicare and Social Security.
A CRNA may structure their company as an S-corp serving as the sole owner, with their business income, tax deductions, and losses passing through to the owner, as opposed to being taxed at a corporate level – a potentially smart move for maximizing financial security in the future.

- Register for an EIN
Open a business checking account and credit card
Keep track of all your business expenses as these could save you money come tax time!
- Have an envelope for receipts or a folder on your computer where you scan these into
Be sure not to co-mingle your business and personal finances!
Remember, as a freelance CRNA, if you don’t work, you don’t get paid!
- Do you have at least six months savings should your contract abruptly stop?
Think about replacing your current benefits
- Health Insurance
- Health Savings Account/Dependent Savings Account
- Retirement Savings Account
- Life Insurance
- Disability Insurance
Procure malpractice insurance
Look for jobs!
Apply for state licenses where you want to work
- Each state needs a different CRNA license (and RN if they are not a compact state). Keep this in mind as some BONs can take 3-6 months to license a provider.
Have an employment attorney review your contract
Have your contract written to your business and deposit all earnings into your business checking
Keep A Schedule

As a W-2 employee, your taxable income and amounts taken out for taxes appeared on your W-2 form at the end of every year, without you having to calculate them. But when a firm pays more than $600 for services from an independent contractor, that income must be reported to the IRS.
What many 1099 CRNAs don’t realize is that they must pay taxes on their income as they earn it. Paying your quarterly estimated income taxes will be a new part of running your business successfully.
It doesn’t sound so difficult—keeping track of paying estimated income tax only happens four times a year. But the reality is a late payment can result in penalties and fines from the IRS. Keeping a schedule to help you stay on top of your quarterly estimated tax payments, and paying adequately to avoid underpayment, is imperative in avoiding penalties in the future. Not to mention providing peace of mind!

Make sure you have a trusted team of accounting and/or financial professionals who have experience with freelance CRNAs to guide you through this process!

CPAs
Financial Planners
Bookkeepers

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