S04 Episode 01: Self-Employed Work

We are kicking off season four of The Business ATvantage Podcast. This season, we will discuss the transition from self-employment to business ownership.In this episode specifically, we will define what it means to be an Independent Contractor, as well addressing the liabilities, legalities, and benefits of self-employed work as a health care professional. Liabilities and Legalities of Working as an AT Independent Contractor:Must Have Insurance: You must have insurance as a self-employed individual. At minimum, you must be identified as a part-time, self-employed person. If you don’t have that designation, you are practicing uninsured.Standing Orders: The physician you work under must acknowledge you do self-employed work, because it may change their liability associated with overseeing you.  State Practice Act and Concussion Laws: Make sure the population you are working with is permissible under state law, and that you have reviewed the concussion laws for that population. In some states, there is a difference between youth sport concussion laws and high school laws. It’s important be aware of these distinctions, and which population you are serving.Get Everything in Writing: At minimum, you need to have an email with bullet points listing out what is expected, such as payment terms, a scope of work, supplies provided etc. This should all be in place prior to working.Have Documentation: Have a form of documentation to notate what you see and touch while working in the event you are asked for records.Benefits of Working as an AT Independent Contractor:Tax Benefits: The opportunity to write off everyday expenses as a part of the cost of doing business.Diversified Resume: Growing your network of clients and skillset.Hedge Against Economic Turmoil: Having the opportunity to pivot based on your individual circumstances, or the world around you.Flexibility: Take the shifts you’d like, live a life that provides maximum freedom and flexibility for yourself and family.Upward Mobility: Name your rate, work where and when you want, not capped on your earning potential.E-book Referenced in Episode:Principles of Per Diem Liabilities and Legalities Ebook