Aims nGnGnGnGain insight into preparation needed to become a successful locum nGnGnGnGain insight on financial issues and record-keeping nHnHnHnHow to enjoy locum work
Objectives n Decide whether locuming is really for you n Be aware of steps required to set up as a locum n Know what administration work is involved and how to keep on top of it
Objectives (2) n Have an idea how to recruit an accountant, keep records for the tax man n Be aware of other financial issues e.g. income protection n Be aware of pitfalls common to locums
SUMMARY OF LOCUMING PREPARATION/CV MAKING CONTACT BOOKING ON THE DAY (doing the job) INVOICING OTHER THINGS EquipmentAccountant Tax & finances Leave
Preparation n Start early n Define where/what/when? n Performers list n Supplementary lists ?still exist n Documents & Paperwork
Preparation (2) n WYCSA/PCT locum list n CV and contacting surgeries n Inland revenue n Equipment n National Association of Non-Principals (NANP) & other locums
C.V. n Keep it short n Precise information n What lists are you included in - minor surgery, child health, obstetric list n Referees n CLEAR CONTACT DETAILS
Booking Work n When/how long for? n Computer system n How many patients/visits? n Admin. work/other clinics n On-call n Details of surgeries, e.g. start times, breaks n Fees n Get confirmation in writing
On the day n Locum pack? n Basic essentials, e.g. computer n Locating equipment/forms n FP10s/MED3s/etc. n How does the system/service run n Delegation n On-call sessions n Say no if appropriate
Record Keeping n Discuss with your accountant n Keep all receipts n Set time aside for this each week/month - makes sending out invoices a lot easier n KEEP ON TOP OF IT
Invoices n Keep them simple & headed n Use computer n Be precise about what you have done n Make sure the figures are clear n Remember if it looks messy or complicated then your payment may be delayed
Fees n You must have a base to start from n Speak to other locums n Ask the practice manager what they normally pay n Vary rates e.g. for surgery only, on- calls, etc. OR hourly/sessional rate n Learn the art of negotiation
RECOMMENDED LOCUM RATES n The Office of Fair Trading ruled BMA- suggested locum rates anti-competitive in 1999. n Locums and Practices must negotiate rates. ( Medeconomics August 2004)
Tax n Find an accountant and discuss n Set up a (high interest) savings account n Save about 1/3 of your monthly earnings n Dont touch it until after you receive your tax bill! n Make payments twice a year (Jan & July)
USEFUL WEB ADDRESSES n Institute of Chartered Accountants of England & Wales: www.icaew.co.uk www.icaew.co.uk n NHS Pensions: www.nhspa.gov.uk www.nhspa.gov.uk n National Association of Non Principals: www.Nanp.org.uk www.Nanp.org.ukwww.Nanp.org.uk
Tax (2) n Dont be fooled by low tax returns in first year n PAY TAX ON TIME (31 st Jan deadline) - otherwise you will be fined and charged interest!
Other Finances n National Insurance – class II & III n NHS Superannuation scheme - filling in of Locum form A & B and submitting with pension contribution n Income protection
Extras n Equipment needed n Expenses n Long-term locums n Locum agencies n Cancellation policy n Details of other locums n Continuing Personal Development n Appraisal
POTENTIAL PITFALLS n Being poorly organised n Abuse by practices n Income - unpaid leave - hidden costs - hidden costs n CPD n Isolation n NOT BEING ABLE TO SAY NO
ENJOYING IT! n Good preparation n Own boss n Flexible – leave, working patterns n Income n Gain insight into workings of different practices n Good way of finding the right practice for you in the future - networking
Locuming Made Simple n Preparation is key n Finances & record-keeping n ENJOYABLE!
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