Becoming a registered nurse (RN) opens many doors. The reasons for seeking the education and license are as varied as the dedicated individuals who serve in the nursing field. Some RNs know from the beginning that their happiness lies in self-direction; great hourly pay will never be enough incentive to hold these nurses in a job where someone else makes the decisions. Others decide to become an entrepreneur nurse later in their careers. Either way, combining business acumen with a nursing degree is a profitable mix.
Areas of Need
There are jobs for independent contractors that would, make sense, to the layperson. Some of the more traditional opportunities are:
-Home care nurse.
-Independent contractor.
-Staffing agency nurse.
Home Care Nurse
A home care nurse cares for patients who need professional medical attention, but not to the level of nursing home care. Emergencies are few; nurses follow a schedule for patient care. Visits consist of monitoring the specific conditions of each client, checking vital signs, and observing well-being in general. Nurses advise patients and doctors regarding the case.
Independent Contractor
Nurses do the work of an employee, but as a contractor. The set-up provides some advantages. Employers do not pay social security tax for these nurses; however, they get the same work from contractors and employees. The social security tax of employed nurses costs the employer seven and a half percent of the gross wage; employees pay the same amount, for a total of 15 percent. Self-employed contractors pay the entire 15 percent. The amount of money this represents is lower because the independent nurse has a lot more tax advantages than does an employee. Employers also pay unemployment insurance for employees, but not for contractors.
Staffing Agency Nurses
The nurse is employed by an agency, and can work in a variety of settings. This is an advantage for professionals who enjoy getting to know new people and places. One benefit of belonging to a staffing agency, is that the agency helps nurses keep up with licensing requirements.
The Entrepreneurial Spirit
Part of being an entrepreneur means recognizing a need, and finding a profitable way to fill it. Only people working in the medical arts have the necessary vantage point to spot these opportunities. Some non-traditional roles are:
-Author.
-Specialty nurse agency owner.
-Online Instructor.
Author
Nurses know what others want to read about. A hospice nurse is an expert in the field, a book about the specialty would benefit someone about to start work in the area. Experienced independent contractors have already lived through paying their own taxes; writing a book advising others may be a profitable venture.
Specialty Nurse Agency Owner
An entrepreneur nurse who specializes in a challenging area is the perfect owner of an agency offering to serve in the field. She hires, or contracts nurses. As the owner of the agency, the entrepreneur spends more time running the business than tending to the needs of patients.
Online Instructor
Nurses need continuing education. A highly educated nurse, who no longer wants to report to a job in person, may be qualified to work as an online instructor. Home-based instructors are normally contractors, not employees.
Working as an entrepreneur means more freedom; responsibility comes with it. It is an advantage to have a business plan before starting to work independently. A consultation with an accountant is a smart idea. Decide if your situation is best defined as a corporation, sole proprietor, or partnership. You already know what your particular business needs in the way of equipment and computers; knowing what to expect at tax time helps you avoid financial catastrophe.
Copyright (c) 2012 Nurse Entrepreneur Network
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