RuntheNumbers

Contract Nurse Practitioner

An independent contractor, so you have:

No taxes to pay into or file (just a 1099 form at end of the year)
No health insurance contributions
On-call availability to you only when needed or by appointment
Payment scheduled by fixed hourly rate based strictly on work actually
performed (calculated hourly with weekly report to you)
Your cost for service is significantly lower than keeping an NP on site
BUT, you have the benefit of an NP in your practice!
See the numbers below

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        The following chart shows a "snapshot" of 8 months income on my work in FY 2005
-- this is a partial report, provided as an example. You'll notice that December was slow,
whereas March and November were busy.

      Over those 8 months, I averaged seeing only 5 patients daily -- perhaps 3 hours or
less of "work time" a day. Even so, over the course of 8 months, I brought in a grand total
of $89,367 -- over $11,170 per month! Continuing at the same rate, by year's end, I would
have brought over $134,000 revenue to the clinic.

      Now, suppose this was YOUR clinic. You're probably more sensible than the facility
that was willing to have me hang around while the physicians slaved over crammed
schedules -- so, instead of that, you might have had me in the clinic (or at the nursing
home, or making house calls) for the same 3 hours a day, a total of 15 hours a week. Or,
say, 8 hours on a Monday doing physicals and well checks, and another 3-1/2 hours during
two evenings for nursing home visits. You paid me my contract rate of $45 per hour - a
total of $675 for the week, or about $35,000 for the year.

      Let's see -- if I brought in $134,000, and received $35,000 -- that would give your clinic
an additional income of $98,950 for the year!   Could you think of a good use for that
extra income?