S4 E1: 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.
Anytime you are hired to do work as an independent contractor as opposed to as an employee, you are self-employed.
Liabilities and Legalities of Working as an Athletic Trainer 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, and more. This should all be outlined 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 Athletic Trainer 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: Work as much or as a little as you need, and live a life that provides maximum freedom and flexibility for yourself and family.
Upward Mobility: When you’re your own boss, you can name your rate, work where ever you want and whenever you want. You’re not capped on your earning potential.
In conclusion, self-employed work within healthcare and Athletic Training specifically is already occurring in mass, despite most workers not understanding the implication of this work or even knowing that they’re conducting themselves as self-employed individuals.
Recognizing this within each practitioner allows for greater professional retention and proper adherence to the legalities associated with representing oneself as self-employed. In turn, this provides upward mobility across the profession.
The greater number of self-employed Athletic Trainers we have who are appropriately informed creates increased access to quality care.
E-book Referenced in Episode:
Principles of Per Diem Liabilities and Legalities Ebook
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