ATLANTA, GA--(Marketwired - Feb 23, 2017) - Responding to market demands for greater efficiencies in locum tenens (temporary physician) staffing, TempMD today launched their online platform that provides substantial savings for hospitals, clinics, urgent care centers, government medical facilities and related establishments.
TempMD is a self-service online staffing platform that allows medical facilities to search a database of more than 40,000 healthcare professionals and negotiate pay for locum tenens assignments directly with each provider candidate. TempMD avoids the price gouging practices of competing staffing firms by charging a fee equal to the greater of 10% of the provider pay rate or $10 per hour. TempMD also provides a per hour medical malpractice insurance offering what is typically in the $2-$7 per hour range depending upon specialty, type of work performed and geographic area.
The TempMD model provides substantial savings to locum tenens clients that are often charged a 45% mark-up or more on the pay rate to the physician.
AMN Healthcare Services, Inc. stated in their 2016 third quarter earnings release "Locum Tenens Solutions segment revenue was $109 million, an increase of 7% from the same quarter last year and down 1% sequentially... Gross margin was 32.7%, which is 20 basis points lower than the same quarter last year and flat sequentially. The year-over-year gross margin decline was due to a lower Nurse and Allied Solutions segment gross margin, partially offset by an increase in gross margin in the Locum Tenens segment..." [A 32.7% margin equates to a greater than 48% mark-up.]
"TempMD meets the needs of an evolving medical marketplace," said Blake Nations, president of TempMD. "Our platform is designed to address budgeting and staffing needs at a dramatically lower cost, enabling healthcare facilities to hire more efficiently and effectively."
In addition to benefitting large healthcare facilities, The TempMD low cost model provides greater access to the candidate market for smaller, cash-strapped community health centers that cannot afford prevailing locum tenens staffing rates charged by competing firms. Because TempMD maintains a database of more than 40,000 medical professionals, medical facilities can now choose from a deeper pool of qualified professionals regardless of their location.
Healthcare professionals also benefit from the TempMD low cost model as healthcare facilities can now pay locum tenens workers a higher rate by avoiding drastic staffing firm mark-ups.
About TempMD, LLC (www.tempmd.com)
TempMD is a proprietary software as a solution locum tenens staffing service. The full-service platform enables healthcare facilities and professionals to contact each other anonymously to discuss open positions and reach an agreement to confirm a staffing assignment without steep administrative fees. TempMD handles all time sheets and assignment details online.
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