Preceptorship is where you go to different places that do medical care (i.e. primary care doc, er, PT, eye docs, etc) and shadow. At some places they let you do pt care, teach you skills, mainly observe the workings of real physicians and other health care workers at their jobs. Most places you get to review the medical history/records of the patients, talk to the pt, ask questions of the doc/therapist regarding the pt's medical issues... it's a way to keep your fingers in the patient care world while you've got your nose buried in books and patients seem many many months away.