Successful nurse contractors

suzanne4, RN · Jul 24, 2005

In technical terms, you would be starting your own agency, it is just that you would be the only employee. You need to follow all of the same rules.

labornicurn · Jul 24, 2005

Thank you for your input. I realize that and would still be intersted in communicating with RNs who are independent contractors. Is there a demand for this?

suzanne4, RN · Jul 24, 2005

I actually have been for many years, did it for close to 10 years. :)

suzanne4, RN · Jul 24, 2005

It also has to do with where you are living and what your market is there.

In some states, the profit margins that agencies even make are quite small, and then it isn't worth the hassle with everything else that you need to do.

Also be aware that once you go independent, the hospital doesn't have to pay you in the same time frame that you were paid when you were an agecny employee. You are now the vendor and they can pay you as auch, which means that they can pay you up to 90 days out. Something else to consider.

I am currently doing a travel assignment for an agency and am much further ahead by them doing everything. Alot also depends on what type of agency that you were working for before.

DDRN4me · Dec 7, 2005

I have just submitted my paperwork to the state to become an independant contractor. it is being self employed and your own agency, but i know the agency i work for is making $10/hr or more off of my work, and i certainly could use that! I know there will be more paperwork, it is something you have to weigh its worth

eddy · Dec 9, 2005

I have just submitted my paperwork to the state to become an independant contractor. it is being self employed and your own agency, but i know the agency i work for is making $10/hr or more off of my work, and i certainly could use that! I know there will be more paperwork, it is something you have to weigh its worth

Some things to be aware of...

You pay all of your own "employee" taxes, you pay your own Liability Insurance (you should have both professional and general as an IC regardless of what others claim... trust me). Obviously, you will be responsible for paying all of your own benefits as well.

You will likely not be able to bill what your agency bills. Facilities pay more to agencies because they have a pool of workers and can save time by just calling the agency rather than a handful of IC's when there is a shift open. Time represents a cost and as an IC you often have to be cheaper to make up for that.

A lot of the big hospital networks are going toward vender management systems and sizing down to just a few agencies. This can make it difficult just to get in the door.

Now, depending on your market much of the above may not even matter. If demand is strong, you should likely be fine. You'll still have more expenses, but if you succeed, you will ALSO have more opportunity to WRITE OFF some expenses that are non-deductible items as an employee that become tax deductions as a self employed individual.

Remember, though, that should your agency find out about this they could get quite angry. They might do something in an effort to prevent you from accomplishing your goal. Also, should it not work out, they clearly won't be keen on bringing you back on board. In my opinion, the smart thing to do is seek to contract with a facility they don't serve. There are some compelling reasons both ethically and financially to do so, in my opinion.

I suggest talking with a good accountant as well.

Good luck!

saralee777 · Nov 9, 2007

I actually have been for many years, did it for close to 10 years. :)

can you tell me the steps you took to become an independent contractor? I am a traveling RN working with an agency right now. I realized they are billing close to 50.00 and hour and I'm not making close to that. Any info would be greatly appreciated. thanks, sara