independent rn-icu

suzanne4, RN · May 10, 2005

If you are in Phoenix, you will have hard time with this. Arizona Hospital Assn has things quite sewn up with most of the major facilities. And in order to be able to work as an independent contractor according to IRS regulations, you need to be set up as a corporation..........So to get your agency on the approved list of the AHA, usually takes about two years and mountains of paper-work. This is for the larger facilities, not sure of where you wish to work.

Have you actually worked per-diem agency in the Valley already?

Depending on the contract, it can be on average 30 days out to get paid, can even go to 60 days............plus take into account all of the expenses of running the corporation, suggest you speak with someone at the Arizona Corporation Commission. If you are even thinking of doing this full-time, you will be paying taxes to the IRS on a monthly basis, not every three months.

hopeheather · May 10, 2005

Hi, suzanne,

I currently am working agency in the valleyand have been for 2 yrs.

I will take all your suggestions, and see what happens as far as independent contracting. I have heard of a few of the smaller hospitals that actually will accept independent contractors.

Thanks for all of the information

Hope

suzanne4, RN · May 10, 2005

Good luck to you..............and be very careful about your reimbursement.

NedRN · May 17, 2005

*How long can you expect to get paid from a hospital as an independent contractor?

30 days is standard from the date you invoice the hospital.

*When negotiating contracts with the hospitals do you set a flat rate and a rate when the rn goes on overtime?

Different hospitals are different. Will depend partly on your negotiating skills. I consider time and a half standard after 40 but there are hospitals that pay only 1.2 overtime. You will find out what their preference is when you enter contract negotiations. A handy ploy is to drop to flat time for a higher rate per hour.

*Taxes- are they done every 3 months?? ** I am going to the IRS website in the next few days to do a bit of research***

If you are an independent contractor (sole proprietor), you are required to file quarterly. If a C corporation, taxes are triggered by events, such as a payroll. Large companies may be required to file as often as weekly. S-corporations and other pass through entities such as LLCs, well I don't know the rules. Probably quarterly like a sole proprietor unless you exceed a certain threshold payroll.

*As far as a name for the "BUSINESS" should I try to encapsulate my experience?

You really don't want to present yourself as an IC to a hospital. A better approach is as an agency. As such, you can name yourself anything you want. Just look at existing agencies and you will see that many do not appear to have anything to do with travel nursing. Although you will find it easy to rename your agency later, there are a couple of reasons why you do not want to be too specific with your name. For example, CVICU RNs, Inc. You may want to grow your business later and this will make it hard to contract/market RTs (for example). And you are trying to portray a professional agency appearance. Being too specific will lead a hospital into thinking that this is the only need you can fill (true, but not professional).

I have a description of my own foray into independent travel contracts. You can read more here.

http://forums.delphiforums.com/icnurse/messages/?msg=108.1