That's how most night float systems work. Where I'm a prelim, it works a little differently- You still take call (for us on gmed it's Q5), and when on call you still admit patients and manage your own floor patients. However, instead of also managing all the other teams' floor patients as well (of which there are many), there's a night float that comes in to do that. So you never get stuck running around to handle things on people you know nothing about, you just get to concentrate on your own pts and your new admits.
Not quite as good as no call at all, but a hell of a lot better than the traditional way.