Panacea to offer exclusive banking services to leading locum tenens agency
Panacea Financial (Panacea), a division of Primis that provides financial services for medical students, residents/fellows and attending physicians, today announced a partnership with LocumTenens.com, a leading physician and advanced practitioner staffing agency serving thousands of clinicians annually, as a preferred banking and lending provider.
Under the terms of the partnership, LocumTenens.com physicians will receive exclusive offerings on loan and deposit products, access to Panacea’s national digital banking services, as well as financial literacy courses. In addition, Panacea will host a “Physician Jobs Resource” page on its website that shares helpful content and information about physician jobs and locum tenens work that could increase awareness of the industry for perspective job seekers.
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Tyler Stafford, CFA, CEO and Co-Founder of Panacea said, “Locum tenens healthcare providers have unique financial structures and work schedules. They need a nationwide banking solution that can travel with them wherever they work or live and provide the personalized service they deserve. We are thrilled to work with LocumTenens.com to offer solutions specific to their unique situations, as well as access to financial education.”
Panacea is a financial services company created for doctors, by doctors on the premise that traditional banks simply do not understand the financial needs of medical professionals. Panacea provides tailored product offerings and service delivery designed specifically for physicians throughout their career: from medical school, through residency and fellowship, and into attending practice. Through the Panacea Financial Foundation, their non-profit arm, they have dedicated funding to expand the ethnic and racial diversity of the medical field. Panacea’s products cover the full suite of banking needs for this unique population, including checking and savings accounts, PRN personal loans, medical school loan refinancing, and practice loans.
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Chris Franklin, president of LocumTenens.com, commented, “As 1099 contractors, locum tenens clinicians face unique self-employment challenges. Panacea’s full suite of financial services expertly tailored toward medical professionals – from residents to experienced physicians – is a great complement to LocumTenens.com’s services. We believe Panacea’s offerings will help alleviate our clinicians’ common financial concerns so they can focus on patient care.”
President and Co-Founder of Panacea, Michael Jerkins, MD said, “In the face of the unprecedented Covid-19 crisis, LocumTenens.com clinicians demonstrated their readiness to provide care whenever and wherever they were needed. We are grateful to these providers and are thrilled to help alleviate their financial concerns and anxieties, giving them some peace of mind as they move about the country to help save lives.”
