question help

  To negotiate a contract renewal I would first of all prepare by learning how to compute the projected income that I would generate for the hospital, and familiarize myself with fee schedules. A fair compensation has to add up to about a third of the total income generated, and benefits need to be equal to 25% of base salary (Danielsen, Potenza II & Onieal, 2016). This implies that my new annual salary and benefits should amount to not less than a third of what the average of 20 patients have paid for the period of one year, and the every third weekend that I have been on call. This will then be added to 25% of the resultant salaries and benefits derived from the first calculation. I would also consider patient satisfaction and efficiency of work performance. Secondly, I would inquire about the institution’s financial stability and the owner’s expectations with regard to net revenue. My bargaining power will increase if the owner of the hospital expects to generate more revenue since he would expect me to handle more patients, which would raise my basic salary and benefits.

   After gathering enough information about the amount of money that the patients that I handle pay, and the employer’s revenue expectations I would then make the full calculation of the amount that should make up my salary and benefits. After deriving the accurate figures, I would then approach the employer and suggest the amount that I expect to be paid in salaries and benefits according to the calculations. During the negotiation, I would I would keep my body language as neutral as possible, and use a plain unemotional tone in order to not appear nervous, tense, and confused in front of the employer. This is because if he discovers that I am nervous, and uneasy, he may think that I am scared and thereby make a low salary suggestion (Brown & Dolan, 2016). I would listen carefully to the employer during negotiations to avoid making wrong assumptions so that I can be able to identify the aspects of the job that the employer is most concerned with, such as negotiability of pay, or shift or call arrangement. I would then evaluate the employer’s suggestions with my own expectations to avoid issues of unnecessary impasse so as to make the negotiations produce better outcomes for me.

   Before approaching the employer for negotiation, I would also consider the scope of the benefits that the employer is willing to offer. Some of the most significant benefits include paid absence from duty. Some of the questions to consider are the vacation time allowed in a year and whether it is paid or not, the duration of sick time allowed, and maternity leave. Other benefits include: Insurance such as life and professional liability, and professional expenses such as DEA registration and prescriptive authority registration.

    As a 1099 contract nurse, there are monetary privileges that I do not receive that the employer has to pay the W2 employees. For instance, as a contractor that has not been employed on a permanent basis, there are no there are no expenditure associated with payroll deductions that the employer will incur. Further, the employer is not obliged to offer health insurance to me unlike the W2 employees who are entitled to health insurance as part of their benefits. Other benefits that the employer is not obliged to award 1099 nurses whereas W2 nurses are entitled to include: workers’ compensation and paid time off (Doty, 2017). There are also other types of expenditure that the employer incurs for W2 employees but not for 1099 contract nurses. They include: Medicare, unemployment insurance. The employer has to incur costs associated with documentation and paperwork for W2 employees such as filing employee information with the federal and state governments. From the above costs that the employer incurs for W2 employees, 1099 contract nurses benefit the employer since the employer incurs fewer costs for 1099 employees in terms of benefits and time than the costs they incur for W2 nurses.

   My value to the practice in terms revenue revolves around the number of patients that I would handle in a day and the benefits and rewards that the employer awards W2 nurses that i am not entitled to. For instance, the employer will save money because he will not have to award me some of the benefits mentioned earlier such as health insurance plans, and I would only be paid for the time that I worked. This helps the employers to save money. Besides, I would increase my input in the organization by handling as many patients as possible efficiently and effectively depending on the resources available and the nature of their illnesses. As a contract worker, I can be able to reduce the time that I take off duty, and increase the number of weekends that I would be on call. In so doing, I will have increased the duration of time that I spend in the hospital caring for patients, which would allow me to tend to more patients than before (Danielsen, Potenza II & Onieal, 2016). This would raise more revenue for the organization. Patient satisfaction will be realized when they are tended to on a timely manner. When I increase the speed of tending to the clients, they spend less time waiting to be served. Research has shown that quick response to patients needs increases their satisfaction and gives them a positive view of the degree of responsibility by health workers (Hwang, Lipman & Kane, 2015). For these reasons, I would be of more value to the hospital than W2 nurses.

 

References

Brown, L. A., & Dolan, C. (2016). Employment contracting basics for the nurse practitioner. The Journal for Nurse Practitioners, 12(2), e45-e51.

Danielsen, R. D., Potenza II, A. D., & Onieal, M. E. (2016). Negotiating the professional contract. Clinician Reviews, 26(12), 28-33.

Doty, P. (2017). Private pay home care: new models of access and service delivery. Public Policy & Aging Report, 27(3), 111-120.

Hwang, C. E., Lipman, G. S., & Kane, M. (2015). Effect of an emergency department fast track on Press-Ganey patient satisfaction scores. Western Journal of Emergency Medicine, 16(1), 34.-38.