Starting own agency to negotiate own contract?

[psychsurf]

I'm planning on returning next season to the facility I'm currently at, and they have made it clear to me that they would be thrilled to have me under whatever circumstances can be arranged. Someone let slip just how much my agency is charging the facility per hour to have me there, and I was absolutely floored. It is basically twice what I'm making. Since it is a state facility, I wouldn't be able to simply come on as a staff nurse and negotiate a different contract, as they have a set scale. I would have to be working for an agency for the state to pay out that agency scale.

So, the thought occurred to me, maybe I could start my own little business and arrange my own contract. I imagine it would be quite complicated to begin with, but the payoff would certainly be worth it.

Has anyone here ever done something like this? What are some suggestions, pitfalls, any resources for walking through the process?

[bagladyrn, RN]

Some travelers do work as independent contractors, but not all facilities are willing to work with them.

Be sure you are prepared for all the implications of being an independent - finding/negotiating and paying for your own housing, utilities, etc upfront, carrying your own health, life and malpractice insurance (more expensive as an individual than a group), putting back and paying your own taxes (federal, home state and state you are working in). Keep in mind that you will be billing the hospital for your service, not being paid by payroll, so there may be quite a bit of lag time between billing and getting paid. This means you should have several months expenses saved up before starting.

I'm not saying this to discourage you, but just to give you some things to look at before jumping into this.

[Michellex1013]

It's my understanding, (well atleast where I am from), individual malpractice insurance is not that expensive. I know that if you an advanced practice nurse the malpractice insurance skyrockets but it's not that bad as RN.

[renerian, BSN, RN]

Hubby and I have owned two companies, one still open. Paying the estimated tax payments to the city is a pain/required here for companies. We pay all our own taxes, malpractice insurance is not that bad for non direct patient care but we have both consultative and direct care insurance. Setting up an LLC company to avoid having someone getting access to your personal assets in a lawsuit is important for us. If you can get health/dental somewhere for a good price that is also important as employers pay a good chunk of that. Life insurance is an issue for some people as well.

renerian

[kcmo06]

I'm also Interested in starting my own agency. So any information you would like to give me would help. I plan on taking my time so it will probably be a couple of years before Im realling, into it full time. A private message would be great.

Thanks