Independent Nurse Contracting
A career as an independent nurse contractor can be very broadly defined. An individual working as an independent nurse contractor may also be considered a nurse consultant. An independent nurse contractor is a self-employed nurse who may provide private duty nursing care for an individual. The nurse contractor or consultant may also contract with a law firm to provide medical and legal advice. There are also opportunities for a nurse interested in independent contracting in the areas of geriatric care case management and life care management.
An independent nurse contracting with a private individual to provide home-based nursing care may be compensated directly by the individual or the individual's family. The nurse may also contract with a state's Medicaid system. This route involves caring for Medicaid patients and receiving compensation from the Medicaid program.
A nurse consultant may specialize in providing advice to law firms concerning personal injury, medical malpractice, risk management, workers compensation, nursing home abuse, or product liability issues. There is coursework that's required to become a certified legal nurse consultant. It's also a requirement to be a registered nurse.
Geriatric care case management involves assisting families caring for elderly relatives. The independent nurse contractor working in this field will identify problems and provide solutions related to the aging process and the care that's needed for a family member. A licensed practical nurse, licensed vocational nurse, or registered nurse with a background in long-term care or gerontology is best suited for this independent contracting role. The Bureau of Labor Statistics has estimated that professions associated with Aging Services are among the fastest growing employment areas. The aging population of the "Baby Boomer" generation is a factor in this equation.
A career in life care planning focuses on analyzing the needs of a disabled or chronically ill individual through their life expectancy. Clients requiring this kind of care may include those affected by spinal cord injuries, brain injuries, psychological disabilities, or amputations. The medical knowledge provided by a nursing education is very helpful in pursuing this type of independent nurse contracting career.
SKILLS
A solid background in nursing with several years of clinical experience is vital to success in this career. A nurse considering this path should have a strong passion to be self-employed. You also need to be a leader. This means that you must be able to focus your energy on pursuing this career. Self-confidence is required because you will need to sell your services and experience. Are you prepared to work long hours? A self-employed nurse doesn't clock in and clock out like a staff nurse working the floor of a hospital. There are benefits of a more flexible schedule when you are an independent contractor but all of the responsibility is shouldered by you when you are self-employed. Organization is key in finding success in this field. You should have a background in business or at least the ability to learn the basics of maintaining records, appointments, and other self-employment related tasks.
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Starting out as an independent nurse contractor
There are questions that need to be addressed before undertaking a career in independent nurse contracting. They include:
What services will you offer?
What market will you serve?
Who is your competition?
How will you price your services?
How will you market and sell your services?
What licenses will you need in your state?
The costs for pursuing a career in independent nurse contracting are relatively low. You probably already have a home office, computer, printer, and telephone. The IRS has specific guidelines in place related to tax deductions and the use of home office equipment for personal and for business use. You may want to understand those guide lines before getting started in this field.
As an independent nurse contractor or consultant, taxes are an area that you may want to seek guidance about. You will be responsible for paying your own taxes. Consulting a tax professional before you begin to work as a contractor can offer you advice about maintaining records and organization related to your tax obligations. You may also want to consider incorporating your business to protect your personal assets. There are tax benefits related to this option that you may want to speak with a tax professional about.
Compensation
There's a wide range of income associated with this career. An independent nurse contractor working as a legal consultant can earn as much as $100 to $250 per hour. A nurse contracting with a private individual for in-home care may make significantly less than this hourly rate. A registered nurse who is self-employed doesn't have the opportunity to earn overtime wages which are typically 1.5 times a base hourly wage, but they can usually charge a much higher fee when working independently. An independent nurse contractor will also have to provide their own health care coverage and retirement savings.
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