Owning our profession

  1. I have recently been throwing around the idea of starting my own business. I guess it would be similar to an Agency, but different in that I would want to contract with hospitals to provide nurses but their part of the contract would hold them to a safe patient ratio. In NJ, our staff nurses are making approx $22/hr, we are working with Agency RN's that are making $40/hr. I started thinking, what is their agency billing for them? I considered quitting and going to work for an agency, but now I think it sounds alot more empowering to be my own agency. If anyone has any thoughts, or advice I would love to hear it.
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  2. 5 Comments

  3. by   Mijourney
    Hi el. If you don't mind, I'd like to offer my opinion although I have no experience as an entrepreneur. Would consulting or franchising be options? I've heard that franchising gives you some type of foundation on which to work from. Just a thought. Best wishes on your endeavor.

    [This message has been edited by Mijourney (edited March 26, 2001).]
  4. by   el
    Thank you for the reply. I don't know anything about any of this, just throwing around ideas in my head. Thinking of contacting an attorney for some legal advise about the different options, ie. incorporating or not.
  5. by   Charles S. Smith, RN, MS
    Originally posted by el:
    I have recently been throwing around the idea of starting my own business. I guess it would be similar to an Agency, but different in that I would want to contract with hospitals to provide nurses but their part of the contract would hold them to a safe patient ratio. In NJ, our staff nurses are making approx $22/hr, we are working with Agency RN's that are making $40/hr. I started thinking, what is their agency billing for them? I considered quitting and going to work for an agency, but now I think it sounds alot more empowering to be my own agency. If anyone has any thoughts, or advice I would love to hear it.
    el...what you want to do is what we already do in Virginia...contact me via our website or email (look under the profile above). We are a partnership of expert nurses who have forged our own independent practice. It has been a wonderful learning experience thus far and has been a tremendous success. Let me hear from you.

    chas
  6. by   lsmo
    No advice, just thoughts I've mulled over periodically that might interest you "el". What about designing a business that brings nurses in as part owners...if your specialty was orthopedics, you would contract out services say, quarterly for the hospital. You not only would provide qualified staff, but you would provide your own inservicing and education for the staff so that it was completely out of the hospital's hands. If the nurses ran the unit as owners of their own business I believe they would do a far better job than the convoluted workings of the hospital administration. The key here is OWNERSHIP of the unit's operation and OWNERSHIP of terms of employment and working conditions. Take this further, for example, If the nurses wanted gourmet meals on wheels included in their "fee" that was available to them at all times( due to the nature of their work and the unlikelihood that they could "plan" to eat at any specified time)--they could write it into their contract, or if they required certain staffing ratios,--they could write it into their contract, or if the unit was run under budget the nurses would reap the financial reward! I think nurses in this type of set up would also ensure that they have excellent benefits, perhaps even stock options and a more secure retirement fund. We would do a much better job as nurses taking care of these things that matter to our quality of life and in turn longevity in the career of nursing. WHAD'YA think?

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    L.Smo RN
  7. by   rjcpdc01
    Hi!

    go to greatnurses.com and order Make a Million in Nursing by Laura Gasparis Vonfrolio. This book is a collection of experiences where RNs have become inventors, entrepreneurs etc. There are at least a couple of stories in there about agencies and contract "cooperatives". GOOD LUCK!

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