Mastering the Balance: Work and Travel as a Locum Tenens Healthcare Professional Welcome to HealthShield Credentialing

Mastering the Balance: Work and Travel as a Locum Tenens Healthcare Professional

Andi Stamper

July 1, 2024

Health & Wellness,Traveling

Working as a locum tenens healthcare professional opens doors to unparalleled opportunities for travel, professional growth, and flexibility. Whether you’re a nurse, physician, or allied health provider, mastering the art of balancing work commitments is essential not only for your overall well-being but also for maximizing career satisfaction.

Successfully navigating the landscape of locum tenens requires strategic planning and a proactive approach to managing both professional responsibilities and personal aspirations. Here, we explore proven strategies to help you optimize your locum tenens experience, ensuring a perfect blend of work and travel while achieving your career goals.

Embrace Flexibility in Assignments

One of the primary attractions of being a locum tenens provider is the ability to choose assignments that align with your interests and lifestyle. So be sure to embrace this flexibility by selecting contracts in locations that offer both professional advancement and personal fulfillment. From busy urban centers to calm rural communities, each assignment can provide unique experiences and opportunities.

Plan Ahead for Travel Logistics

Effective planning is key to seamless travel experiences as a locum tenens professional. Prioritize organizing travel logistics such as accommodation, transportation, and necessary licensing well in advance. Utilize travel rewards programs to save on expenses and streamline your journey from assignment to assignment.

Maintain a Consistent Routine

While each locum tenens assignment may vary in location and setting, establishing a consistent routine will definitely help maintain a more balanced work-life experience. Be sure to prioritize regular exercise, healthy eating habits, and adequate rest to support your physical and mental well-being during travel. You can also incorporate mindfulness practices or hobbies that provide relaxation and rejuvenation into your busy schedule.

Leverage Technology for Efficiency

In today’s digital world, taking advantage of technology can significantly enhance your efficiency as a locum tenens provider as well. Using things like smartphone apps for travel itinerary management, telemedicine for remote consultations, and virtual platforms for continuing education makes all the difference. Staying connected with colleagues and loved ones through video calls and social media to maintain a sense of community and support.

Network and Seek Mentorship

Building professional relationships and seeking mentorship opportunities can enrich your locum tenens journey. Attend healthcare conferences, join online forums, and participate in local networking events to expand your professional network. Mentorship from experienced locum tenens providers can offer valuable insights and guidance for navigating challenges and maximizing opportunities.

Manage Finances Wisely

Effective financial management is crucial for long-term success as a locum tenens healthcare professional. Develop a budget that accounts for travel expenses, licensing fees, and professional dues. Consider working with a financial advisor who specializes in healthcare professionals to plan for retirement, manage taxes, and invest in your future.

Embrace Cultural Awareness

Each new locum tenens assignment presents an opportunity to immerse yourself in different cultures and communities. Embrace cultural awareness by learning about local customs, traditions, and healthcare practices. Respect cultural diversity and adapt your communication style to build rapport with patients and colleagues from diverse backgrounds.

Take Home

Balancing work and travel as a locum tenens healthcare professional requires strategic planning, adaptability, and a commitment to personal growth. By embracing flexibility, prioritizing self-care, leveraging technology, and nurturing professional relationships, you can optimize your locum tenens experience and thrive in diverse healthcare settings. Remember, each assignment offers a unique opportunity for growth, cultural immersion, and making a positive impact on patient care.

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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