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My friend is an OR travel nurse here in S FL. She says her pay rate is something like $42/hr( not sure how its bkoken up w tax free benefit). She works 3 12's/wk and takes home like $1700/wk after health ins/401k. She also said she turned down a Cali assignment @ $72/hr!! Count me in! I did the cross comparo and that take home amount would come to $2914/wk minus about $250 for state taxes. She also doesnt own a home back in the midwest. If I can find a similar ass. and grab a PRN side job to pull 80/hrs a week, I'm there(OR nursing is a cake walk compared to real nursing). Its all about your neg. skills.
Depends on where the assignment is, in some places the apt is over $2000 per month and that is not with utilities. You have to see what works for you. And when you directly contract with a facility, you are not covered under their insurance for anything, you have to cover your own malpractice, workmen's comp, pay the other 1/2 of the medicare, etc., since you are a vendor to them. You are not their employee. Most fail to include this part when they are calculating out their costs.
No matter how you slice it, agencies make a gross profit margin of between 20 to 30 percent of the bill rate after all direct nurse expenses have been paid (the definition of gross profit margin). This is AFTER paying all those additional expenses you are referring to. It is difficult to lose on a direct contract.
Now if you want to talk about the time spent in looking for and arranging housing and benefits, you've got a point about the benefits of an agency doing this for you. And withholding taxes, paying their overhead (recruiter commissions, owners, rent, utilities), and marketing, yes, that comes out of the 20 to 30 percent gross profit margin.
For those willing to do the extra work and who have the inclination and the skills, direct contracting is a no lose situation, it is not possible to make less money. It is more about considering basic aptitude than worrying about losing money. About the only real money issue for independents is the delay between invoicing and getting paid (usually 4 to 6 weeks), and the upfront money for housing. But every traveler has a cash cushion if they are wise to cover the unexpected. Travelers who are not good money managers should certainly not start their own business, and some would say not even travel!
So basically the 60 bucks an hour is what a normal agency gets paid and then they split it up for housing and insurance and stuff like that. It's about an average rate for an agency or independent contractor to be paid in an ER. 80% traveler is also a bit scary. What is going on that there is like, no permanent night staff...
OR-SPEC
13 Posts
Sorry about that, didn't mean to pinch a nerve. You have to admit, it is a completely different type of nursing, much more technical.