b'| CAREER GUIDEA Closer Look at Employment StatusIs It Better To Be An Employee or Independent Contractor? By Kristen Digwood, MSPT, DPT, CLTM any clinicians have consideredrange of them. Paid time off, options forstaff, etc. As an employee, you are a lit-becoming independent contractorshealthcare benefits or a healthcare sti- tle more relaxed and less stressed on a in their profession. In the medicalpend, bonuses, dental and vision insur- daily basis.world, there are pros and cons to being anance, long- and short-term disability employee or contractor. Understanding thisinsurance, retirement plans, and FMLASOME DISADVANTAGES OF BEING AN helps clinicians make the decision that is rightare included. There also may be an edu- EMPLOYEE ARE:for them and their individual circumstances. cation benefit, which helps you to stay onLess Flexible Schedule:As an When considering these options, Ill starttop of your skills and fulfill state require- employee, you generally need to fol-with the advantages of being an employee: ments for continuing education credits. low a work schedule that is set by your Consistent Hours/Stable Pay: WhenQuick, Easy And Reduced Taxes: Thisemployer. If you need to change your you are an employee, you can enjoy theis one that many employees do not real- schedule it usually needs to be approved benefit of having consistent hours andize that they receive as a benefit. Whenby your employer. While some posi-pay. If you are hourly, this may varyyou are an employee, your employertions may have a degree of flexibility, it some; however, companies generally givepays half of your Social Security andis usually less than if you were a contract hours to their employees and dont uti- Medicare taxes (leaving you with lessemployee. Use of paid time off also needs lize or send home contractors first whentaxes to pay.) In addition to that, theto be arranged in advance and can be business is slow. You can also usuallyemployer withholds your half of theseapproved or denied. This makes it more count on having a set schedule each day/ taxes from your paycheck for you so thatdifficult to participate in activities out-week, which allows you to plan for eventsyou dont have to keep track. Each yearside of work.outside of work without worrying thatbefore tax season, you are issued a W-2I n c r e a s e d E x p e c t a t i o n s/you will have to turn down hours/pay atform, which outlines how much moneyResponsibilities: Employees are usually your position. was withheld. This makes it much easierrequired to do more than just patient Benefits Package: Many employ- for you to file your taxes care. This can include leading commit-ees enjoy a benefit package from theirIncreased Level Of Comfort: Whentees, attending patient care conferences, employer. Occasionally part-timeyou work in one place every day, youmarketing, creating schedules, handling employees will receive some benefits,tend to be more comfortable and famil- phone calls, and flexing schedules at ISTOCKand full-time employees usually see aiar with the systems, procedures, clients,times of low staffing. Some employees www.elitecme.com |2020| CAREER GUIDE 11'