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Physician Job Resources
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Career Information For You:
COVID’s Effect on the Physician Job Market
Almost a quarter of healthcare clinicians were professionally affected at some point in 2020 due to the pandemic, according to a LocumTenens.com survey. Of those respondents, approximately 75% were working again by late fall, through their former employer, a new employer or through locum tenens work. Physicians working in specialty fields found themselves suddenly without patients, especially in areas providing elective procedures or preventive medicine. The good news is now that much of the country is at least partially vaccinated, patients are feeling comfortable enough to reschedule missed appointments, but the bad news is many have experienced worsened health from missing necessary preventive appointments. A 2020 survey of patients found that since the start of the COVID-19 pandemic, almost half (44%) said they stopped going to preventive care visits in-person. However, right before vaccinations began, a quarter stated they stopped during the pandemic but are now returning to routine appointments. That number is increasing even more as the U.S. becomes more vaccinated. According to the Federal Bureau of Labor Statistics’ January 2022 Employment Statistics report, healthcare added 18,000 jobs in January, a decrease from last year, though the industry has recovered 1.2 million of the 1.6 million jobs lost in March and April 2020. Now that healthcare organizations are hiring again and patients are returning to delayed appointments or procedures, the job industry for physicians looks positive. If you are looking at changing your employement as a physician and need assistance in your transition, check out Panacea Financial’s PRN Personal Loan! Panacea Financial, a division of Primis. Member FDIC.
Infographic – Imposter Syndrome
Infographic incorporates the following articles: AAMC – Imposter Syndrome WSJ – Why So Many Millenials Fall Prey to Imposter Syndrome Int J Med Educ – Impostor Syndrome and Burnout Among American Medical Students: a Pilot Study J PA Educ – The Imposter Phenomenon in Physician
Career Advice After Residency
Congratulations! You made it through medical school and have completed your residency. Now what? As you take the first step toward planning your career as a physician, there are many considerations you need to make as you embark on your journey. Explore Career Pathways and Practice Settings Now that you’ve completed residency, it’s time to consider what kind of physician life you want to build. Start by exploring the full range of practice options available to you. Consider what type of practice type would work best for your lifestyle and family, or evaluate where you’d like to live in relation to a practice setting. You might be drawn to the academic world, where you can combine clinical care with teaching and research. Or, you may prefer the independence of private practice, where you have more control over your schedule and patient base. Hospital employment offers stability and resources, while community or group practices can provide a balance of autonomy and collaboration. Some physicians also find fulfillment in nonclinical paths such as medical education, consulting, or industry work. Once you determine where you want to work, make sure you are prepared with both your CV and your interviewing skills. Experts and mentors can help you prepare, and it’s always best to practice your negotiating skills for your contracts. Don’t feel pressured to accept the first offer that comes your way; take time to find the right fit for both your career and lifestyle. Preparing Financially Stepping into your first attending role often means a significant jump in income, but also new financial responsibilities. Before you upgrade your car or buy your dream home, take time to build a solid financial foundation. Start by revisiting your budget. Plan for potential relocation, new living expenses, future goals, and loan repayment while allowing some flexibility for enjoying your new income responsibly. Many new physicians find it helpful to work with a financial adviser who specializes in physician finances. They can help you navigate student loan repayment strategies, refinancing options, or investment planning. If you take on Locum Tenens or 1099 work, remember you’ll need to handle your own taxes and won’t qualify for programs like Public Service Loan Forgiveness (PSLF). Understanding how your employment status affects your financial plan early on will save you stress later. And don’t overlook the basics; build an emergency fund, contribute to retirement savings, and protect yourself with the right disability and life insurance coverage. The key is to think long term and let your financial habits set the stage for freedom and flexibility later in your career. Panacea can help you achieve financial independence through their unique banking opportunities exclusively for physicians like checking and savings accounts, PRN Personal Loans, and Student Loan Refinance. Develop Your Professional and Personal Brand Transitioning from trainee to attending also means defining who you are professionally. Continue expanding your network: stay in touch with mentors, join specialty societies or national organizations, and stay engaged with your peers. Keep your professional profiles (like LinkedIn or Doximity) up to date, and don’t hesitate to share your achievements, research, or areas of interest. Keep learning: stay active with continuing medical education (and attend conferences if/when you can) and explore leadership or teaching roles if you enjoy mentoring others. It’s also worth taking time to understand contract basics, malpractice coverage, and employment benefits; these details will affect your stability and satisfaction long-term. Think of this stage as building your “brand” as a physician; not for marketing purposes, but to shape your identity, reputation, and professional direction. Don’t Forget to Have Fun Most importantly: have fun! You have officially completed your medical training! Give yourself credit for your hard work and try to avoid falling into imposter syndrome. After years of intense training, this is your chance to reclaim balance and joy. You’ve worked hard to get here; now it’s time to create a life that’s both fulfilling and sustainable! Be intentional about maintaining work-life balance. Set healthy boundaries, reconnect with the hobbies or people that keep you grounded, and take time to celebrate your milestones. While it might seem daunting and overwhelming at first, this is an exciting time in your life and you should embrace every new experience. Good luck! If you need financial support as you take the next step in your career and life, Panacea Financial is ready to help. Learn more here »
Considering Telehealth
Prior to the COVID-19 pandemic, 34% of Americans say they used telehealth services, and two thirds (66%) of Americans say they never used telehealth services, according to a consumer survey conducted by LocumTenens.com. Unsurprisingly, older Americans were the least likely to use telehealth services (83%). However, when asked about the use during the COVID-19 pandemic, the majority (53%) say they have used telehealth services with 22% saying they use it whenever possible. It’s no wonder then that almost three-quarters (74%) of healthcare providers say their organization has increased their use of telehealth services due to COVID-19, and almost half (44%) say they have invested in new technology solutions to be able to communicate with patients remotely, according to a 2020 report. At the beginning of the pandemic, a public health emergency declaration was enacted, making telehealth and telemedicine legislation easier for states to adopt. However, this change is only temporary and, unless further action is taken by legislators, will expire once the public health emergency declaration does. Right now there are some legislative bills being proposed in Congress to continue telehealth’s trajectory. Each state also has its own proposed legislation to expand the use of telehealth services beyond the pandemic. Their statuses change regularly, but the Center for Connected Health Policy provides up-to-date information about the different bills and registers. Why work telehealth? Here are the top 5 reasons: Better work-life balance More flexible scheduling Make yourself a more appealing candidate Experience higher patient satisfaction The industry is growing View more about why telehealth could be a great career choice here. If you need financial support while you build out telehealth capabilities, please check out Panacea Financial’s PRN Personal Loan or Practice Solutions! Panacea Financial, a division of Primis. Member FDIC.
What Are Your Peers Earning?
Compare your salary to your peers by viewing annual salary reports or view previous years.
What are your peers earning?
Compare your salary to your peers by viewing annual salary reports or view previous years.
What Is Locum Tenens?
Physician staffing is a fluid market across the country. Temporary and short-term physician jobs are called “Locum Tenens” and are always needed and can provide you a flexible way to earn extra income.
What Is Locum Tenens?
Physician staffing is a fluid market across the country. Temporary and short-term physician jobs are called “Locum Tenens” and are always needed and can provide you a flexible way to earn extra income.
What is “Locum Tenens”?
Physician staffing is a fluid market across the country. Temporary and short-term physician jobs are called “Locum Tenens” and are always needed and can provide you a flexible way to earn extra income.
Our Products
Medical Student Loan Refinance
Finally, refinance designed for doctors. Don’t waste your time on a pre-application to find out your options. We have four low fixed rates to choose from based on our trust in physicians that isn’t affected by your credit score or debt levels.
Our Products
PRN Personal Loan
Fair, affordable personal loans for doctors up to $75,000 to use as needed. Fixed rates that vary with term as low as 8.49% APR and funding in as little as 24 hours.
Our Products
Checking & Savings Accounts
Fast and free, our mobile banking is built for doctors. Our checking accounts have no ATM fees nationwide and our high-yield savings account interest rate is 12x the national average because you deserve it.
Our Products
Why did two doctors start Panacea Financial?
Doctors are different. Our training, work schedules, and financial lives are unique. When the average banks couldn’t cater to our need, we decided to build our own. Because we deserve better.
Our Products
Medical Student Loan Refinance
Finally, refinance designed for doctors. Don’t waste your time on a pre-application to find out your options. We have four low fixed rates to choose from based on our trust in physicians that isn’t affected by your credit score or debt levels.
Our Products
PRN Personal Loan
Fair, affordable personal loans for doctors up to $75,000 to use as needed. Fixed rates that vary with term as low as 8.49% APR and funding in as little as 24 hours.
Our Products
Checking & Savings Accounts
Fast and free, our mobile banking is built for doctors. Our checking accounts have no ATM fees nationwide and our high-yield savings account interest rate is 12x the national average because you deserve it.
Our Products
Why did two doctors start Panacea Financial?
Doctors are different. Our training, work schedules, and financial lives are unique. When the average banks couldn’t cater to our need, we decided to build our own. Because we deserve better.
Join over 15,000+ physician people
Resources To Help You Look For Jobs
Finding the time to research and understand your financial options can be overwhelming. That’s why we’ve complied some helpful resources to guide you to making well informed financial decisions.
Resources To Help You Look For Jobs
Join over 15,000+ physician people
Finding the time to research and understand your financial options can be overwhelming. That’s why we’ve complied some helpful resources to guide you to making well informed financial decisions.