Becoming Independent Nurse Contractor

WyomingRN · Nov 6, 2004

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.

kate912 · Nov 6, 2004

BMOB said:
:rolleyes: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

futurenp · Nov 6, 2004

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?

kate912 · Nov 6, 2004

futurenp said:
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.

Foxfour · Dec 10, 2004

kate912 said:
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.

kate912 · Dec 13, 2004

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

rnmovingonup · Sep 20, 2007

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

lillicr · Sep 21, 2007

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

mrslika · Oct 9, 2007

are there any agencies that partner nurses with clients?I'm having difficulty locating in NYC.

gjg · Feb 14, 2008

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

Metots · Mar 31, 2008

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..