Last year, we saved our hospitals over $10 million while treating over 2.5 million patients.
Independent Contractor Physician vs. Employed Physician
There are an increasing number of opportunities for physicians to choose emergency medicine as an independent contractor as opposed to traditional employment. In a nutshell, the difference between working in an emergency department as an independent contractor versus an employee has to do with who decides (and pays for) employments benefits like health care and taxes.
An independent contractor has to pay self-employment taxes and provide their own benefits like retirement savings and healthcare. On the other hand, the independent contractor gets to choose their own healthcare plan and other benefits.
When deciding between employment options, it’s also important to look into the malpractice history and insurance offered to traditional employees of emergency medicine. Some physicians would be better off as a traditional employee to gain access to resources like a legal team in the event of a malpractice suit.
Lastly, it’s important to note what incentives and bonuses are offered to the traditional employees of emergency medicine. In some cases, the expected bonuses or performance-based incentives will raise the amount of money you take home at the end of the year.
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