It is essential for any practitioner looking to contract directly with facilities to be prepared to do so. This article reviews six items you should have organized and thought of when looking at new opportunities.
If you are a medical professional looking for a new opportunity or additional work, it is wise to have your ducks in a row. It is worth spending the time to prepare yourself for the process of applying to and negotiating for new opportunities. Whether you are in the market for a full-time, part-time or per-diem role, it behooves you to be prepared. You want to do what you can in advance to streamline the process of securing a new opportunity. This article reviews six of the more essential items you should do to be more successful at contracting directly for independent work. Don’t delay acting on these items now, as you don’t want to miss out on a great opportunity to contract directly.
Clean up your social media accounts.
We are adults now; behave like it. If you post inappropriate things on your social media accounts, delete them. Like high school and online dating, everyone is checking you out. No recruiter or employer wants to see your divisive or inappropriate behavior online. Keep your private life private! You can consider making your social media account private, but there is still a risk that some recruiter, administrator, or a colleague can get access to your post. Don’t forget that all can see your public comments on Venmo.
Prepare a great CV (and Video CV)
You can’t apply to any new opportunity without an updated CV. Ensure that your CV is updated and ready to be presented to a medical facility. If you need help building a great CV, check out the templates on the FlexMedStaff platform. You can also review this article on how to build a great CV HERE.
If you really want to stand out from the pack, consider creating a Video CV. This is where you can provide a short 1-2 minute video to the facilities about yourself. You can learn more about creating a video CV HERE.
Get your Sh** Organized.
There is not much a facility hates more than working with a medical professional that is not organized and does not complete tasks promptly. To expedite the verification, onboarding, and credentialing processes associated with taking a new opportunity, have these items easily and readily accessible. This includes information about the following:
Prepare yourself for contract review.
Medial professionals should educate themselves about the terms and clauses within a Professional Services Agreement (PSA). Although it’s easy to run to an attorney for a contract review, you should fully understand the terms of the contract. Let’s face it; it is your butt on the line, so you might as well understand the agreement you sign. If you prefer to have an attorney review your contract, then know where you will seek one out. Know that FlexMedStaff has chosen attorneys to provide to best rates for those independently contracting with facilities. FlexMedStaff also has plenty of educational material to make you a “semi-expert” at reviewing contracts. Lastly, consider having a templated PSA ready if the facility asks you for your own PSA. You can find templated PSAs on the FlexMedStaff platform.
Prepare to get your own malpractice insurance.
Suppose you plan to contract with facilities independently; research which malpractice carrier you may want to work with. If the facility does not require you to get your own malpractice insurance, then this won’t be an issue. On the other hand, if you are required to get your own malpractice insurance, consider looking at the brokers and agents available to you on the FlexMedStaff platform. It can be helpful to fill out their initial questionnaire to see how they might be able to find you an excellent malpractice policy in the future.
Create an LLC or PLLC
You are not required to create an LLC or PLLC, but there are a few advantages if you plan to produce significant income as a 1099 independent contractor. You can take advantage of many of the tax deductions and business expenses as a sole proprietor without forming a PLLC or LLC. Thus, speak with an accountant to learn if forming an entity is right for you. Another thing to think about is that you can contract with facilities thru your entity, making it appear as if it is a pure business transaction rather than an agreement directly between the practitioner and the facility. On the FlexMedStaff platform, you can use the preferred vendor for incorporation, which makes it simple to form a new entity.
We don’t want your lack of preparation to be the reason you can’t negotiate a great deal that suits what you are looking for. Be wise and organize yourself for your next opportunity, whether full-time, part-time, or per diem. Beyond the items discussed here, you will also want to take the time to better educate yourself about contracting directly, learn different negotiating skills, develop a better understanding of fair market value, and narrow in on what type of arrangements you are looking to make with facilities.