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PRN Job Question


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I have been applying for some PRN jobs, just for extra income.  A long term care facility where I applied called for an interview.  They said that the job is an independent contractor position.  If hired, I will be paid by the procedure rather than by the hour and the amount of work available can vary.  The also said that I will need to get my own LLC.  Am I right to be sensing that there is something off with this, or does this sound legitimate?

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Its not off exactly its just a way of being cheap. Many organizations won't contract with an individual so they want you to have an LLC. By making you a contractor (which you may or may not meet the IRS definition of) they make you responsible for all your withholding which saves them a bunch of money and administrative overhead. Paid by the procedure can be ok if you have enough to do but can really stink when you don't. I worked on productivity as an IC for years and remember one day I looked up and had nothing scheduled for a month. It was a real slap in the face after having more work than I could do for a long time.

You'll also have to have your own malpractice if you don't already. That can be a significant expense.

Bottom line is this can work but you have to make sure the reimbursement is equal to your expenses. Often cheap orgs want to pay you full time employee salaries while making you an IC. Then you are working for cheap. Generally when working as an IC I expect to be paid about 30%-35% more than what my hourly rate would be if I was an employee with benefits.

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what do you mean by "procedure"

Are you doing procedures or just office visits, ltc visits??

 

 

also long threads on LLC for independent contractor versus just under your SSN - worth reading

 

Your Med Mal will likely be over $2000/year and work comp can be another $500/year

then you have to pay the employer portion of taxes

then all your bennies

 

then you get the leftover in pay.....

see you might not get much......

1099 I would say a % of collections (they are billing for you correct?  if not figure another 10-20% lost for the PIA of billing)

 

might work out fine if you are getting something like 55-65% of collections (and they MUST open all your billing and receipts to you)

 

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I was once offered a PRN or contract position and knew the individual doing the hiring.  Also was friends with a couple who contracted with the same company.  Bottom line, the company, due to some legal or the way money was allotted, could pay LLC at a higher rate than an individual without an LLC.  Both myself and the friend, who's spouse owned LLC, were offered positions, only she was offered $5-10 more per hour. I was told I could have same rate if I was under LLC. Although this could have just been that companies policy, If this is something you may do long term, even as side job, it may be worth it to investigate. As mentioned above, I think it had something to do with employer taxes. 

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