Becoming Independent Nurse Contractor

  1. 0 [font=Georgia]Hello everyone! I am so glad I found this forum. I have recently decided in becoming an independent nurse contractor, and I would love to get information of how to start, where to go...I have no clue and I am truly anxious to get the ball rolling. Can anyone give me some pointers, info, advice? Anything will be appreciated. Is anyone practicing this now? How is it going for you.

    THANX!
  2. Visit  BMOB profile page

    About BMOB

    From 'Georgia'; 39 Years Old; Joined Nov '04; Posts: 4.

    30 Comments so far...

  3. Visit  WyomingRN profile page
    0
    [SIZE=3]I work independent. There are many on this board that have good ideas in this area. One of the best things you can do is take the time to go through all the posts here in the Entrepreneurs section.
    Last edit by nightingale on Dec 10, '04
  4. Visit  kate912 profile page
    3
    Quote from BMOB
    Hello everyone! I am so glad I found this forum. I have recently decided in becoming an independent nurse contractor, and I would love to get information of how to start, where to go...I have no clue and I am truly anxious to get the ball rolling. Can anyone give me some pointers, info, advice? Anything will be appreciated. Is anyone practicing this now? How is it going for you.

    THANX!
    HI Welcome to the world of owning your own business/practice. I have been in a private practice since 1983. I really enjoy what it entails and offers. Yes, there are bumps along the way...but oh what fun!

    What area are you focused on?

    One good source of info is the NNBA NAtional Nurses inBusiness. A dynamic group of nurses who do what they love and love what they do.

    Reading references: Research setting up a consulting practice... it gives you the framework for what you are required to do. Also, check your state's web site for info on setting up a business in your state..same for your county.

    Network!!!! Check out any Women Business Owner groups... often times you can get great info there.... NABO National Association of Women Business Owners. The SBA is also great. They have an Executive (usually retired) who works with you as a business mentor... invaluable! Often times they also have business incubator program.
    Good Luck! and CARPE DIEM!!!!! Kathi
    Last edit by sirI on Nov 22, '08 : Reason: edited personal contact info
  5. Visit  futurenp profile page
    0
    Can you give more info as to what exactly you're talking about? Is it hiring yourself out similar to having your own agency? What exactly is an independent nurse contractor? Can you enlighten this newbie?
  6. Visit  kate912 profile page
    0
    Quote from futurenp
    Can you give more info as to what exactly you're talking about? Is it hiring yourself out similar to having your own agency? What exactly is an independent nurse contractor? Can you enlighten this newbie?
    An independent contractor is (in this case) a nurse that consults to another business or agency on a specific aspect of business. When you contract your services, you set up an agreement with the other party that you are providing your services to. You are not their employee. The IRS has specific criteria to determine if you are a tru IC on not. Be sure to check that aspect out and abise by those rules.

    An IC is also responsible for their own billing and colection of the fees. You are also responsible for paying your own taxes which inclue self-employment tax. When you set up a fee schedule for your services, be sure to include any and all overhead and your profit margin to arrive at your fees.

    I hope that helps a bit.
  7. Visit  Foxfour profile page
    0
    Quote from kate912
    An independent contractor is (in this case) a nurse that consults to another business or agency on a specific aspect of business. When you contract your services, you set up an agreement with the other party that you are providing your services to. You are not their employee. The IRS has specific criteria to determine if you are a tru IC on not. Be sure to check that aspect out and abise by those rules.

    An IC is also responsible for their own billing and colection of the fees. You are also responsible for paying your own taxes which inclue self-employment tax. When you set up a fee schedule for your services, be sure to include any and all overhead and your profit margin to arrive at your fees.

    I hope that helps a bit.
    Can you help me with two questions I have? Please forgive me for being naive on the subject of an independent nurse contractor. The first one is I thought you had to be a NP in order to bill for your services. The second one is I'm contemplating becoming certified in wound care and like the idea of being self-employed. Is it possible to be an independent wound care nurse? If so-how do you go about marketing yourself? Thank you for any advice you offer because it will be more than I now.
  8. Visit  kate912 profile page
    3
    Hello:

    As a nurse you do have to be an NP IF you want to bill Medicare/Medicaid. BUT you do not have to be an NP to be an independant practicioner, consultant or to have a business.

    As to the wound care, I would encourage you to proceed, as it is a viable pathway for independant practice. Be prudent in how you achieve the speciality role and education. I will tell you that wound management is complex and it carries responsibility and risks for laibility. You will want and need to carry malpractice insurance that covers you as a specialist, not just an RN. This has to do with the scope of practice that you will be engaged in. I was the 93rd RN ET in 1979 to certify in wound care. It is a terrific career path and has opened doors for me that I would have never dreamed of. Go For IT!!!!!

    Let me know if you have other questions. I believe in fostering nursing and expanding horizons.
    Kathi
    Last edit by sirI on Nov 22, '08 : Reason: removed personal contact info
    ichu, Conqueror+, and lindarn like this.
  9. Visit  rnmovingonup profile page
    0
    my concerns in being an ic is my tax obligation and what should I claim for. also, how do i estimate my income. i would truly like to sit with someone who is nurse/medical specific to help me
  10. Visit  lillicr profile page
    0
    Nice to have found this thread. I, too, am in the process of researching independent contracting to provide my services as an electrophysiology RN. Thanks to all for the helpful hints. Looking forward to learning more from you and sharing what I've learned as I get further through the process
  11. Visit  mrslika profile page
    0
    are there any agencies that partner nurses with clients?I'm having difficulty locating in NYC.
  12. Visit  gjg profile page
    1
    Hi,

    I am also interested in becoming and independent R.N. contractor. I am looking for a good "How to get started" program. Several are advertised, but I was thinking that one of you may know of one you would recommend.

    Thanks,
    gjg
    lindarn likes this.
  13. Visit  Metots profile page
    1
    Does anyone have any information on how to become one of these nurses that travels to specific places to inservice staff on new equipment such as blood tubes/needles/glucometers etc..
    lindarn likes this.
  14. Visit  yamiarn2 profile page
    9
    I am like all of you - wanting to have some control over my schedule AND earn more money! Let's just share thoughts and ideas we glean as we read, surf the net, etc. Too many of these posts are "does anyone have any ideas how to......" with no answers, every one asking for help and no one giving any. Let's put our collective heads together and figure this out ourselves!

    I ordered a downloadable package from the Miracles and it was OK. I wrote and asked them some questions and got some replies within just two or three days. But I felt like I wasn't getting the IMPORTANT question answered which is "What do I charge"!!

    Personally, I am interested in being an independent contractor for one or two facilities acting just like a staff nurse or agency nurse. I worked for alkmost 5 years with a major hospital and just the last three months have worked for an agency. I LOVE the freedom the agency offers - I set my own schedule!! I can haave weekends with my family and holidays off if I want! I no longer work graveyard! My salary is the same. l Where I work is MUCh more pleasant and enjoyable.

    The downside? I get cancelled for several shifts a month and I need the income that 40 hours a week give (at my current salary rate). I have no health insurance and can't afford it when the salary is no different from what I got at a hospital. and THE biggie - I get paid my $25 hour but the agency gets........??? $35? $45? $65? an hour?

    I want to form my own mini-agency of one and just under cut the staffing agencies amd what they charge the local facilities. Of course, the million dollar question is "what do they charge" Any ex-staff agency peiple out there?

    I have spent hours cruising the net and found a few sites that gave me an idea of charges. One gave ranges by geographic areas and, roughly speaking, the bill rate in 2005 was $50-65 hour for bedside nurses. Travel nursing was a lot more. http://media.monster.com/a/i/intelli...assessment.pdf

    TO be an independent contractor you need to determine:

    1) your focus. One person agency? Legal consultnat? Asetheician? etc
    2) Get an IRS FIN#
    3) Go to your local governments and do whatever you need re:business permits and licenses
    4) Open an seperate checking account and credit card for your business
    5) Decide on a business name and check the web for your own URL/domaine nameSeparate credit card
    6) NSO for malpractice insurance
    7) Market research - go to HR at local facilities and TALK to them about temp- staffing or talk to other legal consultants etc
    8) Get a contract drafted and check it with an attorney www.legalzoom.com
    9) Design your letterhead, business caqrds and business flyer
    10) NETWORK. Look up networking groups on the internet and attend the meetings.
    11) Call on the accounts you wants. Caqll. Set up the appointment and sell your self!

    Now, This is some Ideas I have written down the past few weeks as I organized my thoughts and goals.l I woulkd kkoive feedback and suggestions and I hope we can allk benefit from this.l

    Go to the web site of National Association of Independent Nurses
    www.independentrn.com.
    Join. I have requested the information pack they offer and will most likely join. members have a discussion forum and I think that will be invaluable..

    Good Luck All!!


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