Transparency, Integrity, Respect

The current locum tenens staffing model is broken.

Have you ever worked for a locum tenens agency and learned that other doctors are being paid more for providing the same services you’re providing?

Hospitals currently pay locum tenens agencies a set fee to fill open positions, but agencies then keep a substantial portion of that fee and won’t tell providers how much the hospital is paying. Providers remain unaware of how much money they’re losing as staffing agency profits increase. This model puts the interests of staffing agencies at odds with their contracting physicians.

BAM Medical Staffing has a different approach. We work with healthcare professionals, not against them. BAM offers fair contracts and shows providers what hospitals are paying for their services. Providers receive full compensation from the hospitals and pay BAM a fair percentage of that income. If hospital payments increase, contracted providers earn more. BAM’s innovative business model is a win-win proposition for medical providers.

Transparency

Our books are open. BAM Medical Staffing shows physicians in advance what hospitals are paying for their services. From that rate, BAM deducts a modest management fee. Providers pay for their own expenses. If hospitals increase their hourly payments, doctors earn more.

Support

BAM will assist providers in applying for medical licensing and hospital credentialing. BAM will help providers secure travel arrangements if needed. We’ll also work with providers and hospitals to finalize scheduling.

Contracts

Contracts from typical staffing companies often contain dangerous terms such as indemnification, immediate termination, and the ability for the staffing company to withhold paychecks. BAM Medical Staffing offers simple provider agreements with no indemnification.

Medical Malpractice Insurance

BAM will assist providers in purchasing medical malpractice insurance through a top-rated malpractice insurance carrier. If hospitals choose to offer malpractice insurance coverage as part of their compensation to providers, BAM will obtain proof of coverage and will pass the savings on to both parties.

Health Insurance

Need health insurance? BAM works with a health insurance specialist to assist providers in obtaining health care insurance for providers and their families. We’re also exploring obtaining a group health insurance policy if there is a demand for such coverage.

Case Study

Consider an example where a hospital requires staffing for ten 10-hour emergency department shifts for one month. The hospital offers to pay $300/hour to obtain last-minute coverage for those shifts, totaling $30,000 for the month.

Provider income when contracting with traditional locum tenens staffing agencies

In this example, a traditional locum tenens staffing agency would keep $10,500 of the hospital’s $30,000 payment and the physician would earn $19,500 for the assignment.

Provider income when contracting with BAM Medical Staffing

If working with BAM and a physician had to cover all costs related to this locum tenens assignment, expenses would total approximately $7,000 and the physician would earn $23,000 for the same assignment.

If working with BAM and the hospital paid for malpractice insurance and travel expenses, expenses would total $4,500 and the physician would earn $25,500 for the same assignment.

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Earn Up to $6000 More On A Typical Assignment With BAM!

Typical Provider Income on a $30,000 Locum Tenens Assignment

BAM Medical Staffing charges physicians 15% of the hospital’s payments. We used an average 35% fee that is typically charged by other agencies. Some agencies may charge more or less.
Medical malpractice insurance is included in other agency fees. BAM will try to negotiate malpractice insurance coverage through the hospital or we will help providers obtain coverage at the provider’s cost. This cost is often tax-deductible. The approximate annual cost for an emergency medicine medical malpractice insurance policy in Cook County, IL is $20,000, so for this example we estimated part-time cost of $1,000 for the assignment is the insurance is not paid by the hospital.
Hospitals will often agree to pay for a provider’s travel expenses. If a hospital does not pay for travel expenses, that we estimated $100/night for lodging plus $500 in other travel expenses. Keep in mind that staffing agencies may try to deduct travel expenses from a provider’s income by decreasing the provider’s hourly wage.

Ready to work with a locum tenens staffing company that looks out for your interests rather than its own interests?