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You are a family nurse practitioner (FNP) employed as a contract (1099 independent contractor) in a busy primary care practice for 2 years. The providers in the group include one physician, who is also the owner of the practice, and two other nurse practitioners, who are staff employees (W2 employees). The owner of the practice recently made comments about the need to produce more revenue. You relate with his concerns and feel that you have several strategies that could behelpful. Your contract is up for renewal in 3 months. You are highly satisfied with your job and want to stay with the group. You see 20 patients per day on average and take call every third weekend.Discussion Question:What negotiation strategies should you use to propose a contract renewal? How does your role asa 1099 contractor benefit the practice over the W2 employees? What evidence will you present tothe practice to reinforce your value in the practice both in terms of revenue and patient satisfaction? Consider any additional services you may be willing to provide under your contract.Use logical reasoning, and provide evidence-based rationales for your decisions.Keep in mind that your negotiation terms and conditions must be within the legal scope of practice for an ANP.Dr.Duncan and class,As a nurse that has been an independent contractor for the past year, there have been opportunities for negotiation for contract renewal with the company that I work for. There are many strategies that can be utilized during the negotiation process for the renewal of the contract.First, during my time as an independent contractor I have learned the difference between a 1099 independent contractor and a W2 employee. The independent contractor is not considered an employee which exclude them from receiving benefits such as health insurance or liability insurance, 401k and IRA matching from the company, and paid time off. According to Buppert (2018) an independent contractor is not an employee and an employer's responsibilities to independent contractors are only those specified by a contract between the practice owner and independent contractor also an independent contractor is responsible for his or her own taxes, insurance, health benefits, tools, and possibly supplies and workspace. An employee who is a W2employee receives the benefits of insurances provided by the company, 401k and IRA matching, and paid time off such as vacation and sick days. According to Brown and Dolan (2016), Physicians may prefer that NPs be hired as independent contractors for tax and liability purposes.Negotiation strategies that need to be addressed are first hiring a lawyer to go over any contract negotiation as contracts may be lengthy and if not properly researched and read, the outcome may not be beneficial for the NP. The dedicated service that I have provided for the company will provide a positive reassurance for the company when negotiating for a contract. This experience will reinforce my increase in patient satisfaction as the employer can see that I have solid evidence of satisfaction of patient care with the company which has resulted in improved
patient outcomes. I can provide evidence of patient satisfaction by utilizing patient satisfaction