I'd Love to Try Travel Nursing...But, How Do I Get Paid?
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I'd Love to Try Travel Nursing...But, How Do I Get Paid?

By:
Cross Country TravCorps
Posted:
June 28, 2017 09:46 AM (EDT)
Categories:
Traveler Tips
Keeping up with the many aspects of travel nursing can be overwhelming, especially if you’re a newbie in the field. Because terms of reimbursement and compensation are contractually binding, it’s imperative you learn the ropes and have your questions or concerns addressed before signing any contracts. As you review a travel nursing contract, here are three main points to consider.

Compensation Variables

Any travel nursing contract should clearly state every compensation variable you are expecting. Such variables include your taxable base and overtime pay rate; details of your medical coverage and retirement plan; agency-provided housing and/or stipends; licensing and certification fees; travel expense allowance; and a meals and incidentals stipend. Assigning a dollar amount to each item on this checklist will help you evaluate your complete compensation package. 
 

Special Clauses and Penaltie

Always make sure you are aware of any stipulations noted in your contract, such as missed-hours penalties or charge-backs in which you could be penalized for every hour not worked in a given pay period. You’ll want to look for a “guaranteed-hours clause” which ensures you are not penalized for missed hours under certain circumstances, such as being floated to another area of the hospital. It’s your responsibility to make sure these clauses and penalties are defined within your contract.

Non-Compete and Exclusivity

Many contracts will contain non-compete and exclusivity clauses to protect themselves from financial loss. Typically, these clauses state you are prohibited from working at your contracted hospital in any capacity for a specified time after your assignment is completed. A clause may also state your contract hospital can hire you after your assignment is completed under the condition the hospital pays the agency a fee. There are many types of clauses, so make sure you’re fully educated about the ones in your specific contract.

Cancellation Policies

Most contracts contain cancellation penalties to minimizeany loss the agency would incur if a travel nurse cancels a contract early. Penalties are usually based on compensation variables, such as housing or travel expenses. In many instances, there are also cancellation fees charged by the hospital which can be valued at one or two weeks’ worth of billing.

Specific Arrangements and Agreements

It’s important to remember that a travel nursing contract is between you and your agency – not you and the hospital. Therefore, make sure any special agreements or arrangements you make with the hospital (working conditions, requested time off, and scheduling), are accurately reflected in your contract.
 
Before pursuing a career in travel nursing, it’s important you know what to expect and gather all the necessary information you will need before making any decisions. Every contract is different, so it’s up to you to get a handle on your agency’s particular policies.
 
If you have questions about how travel nursing compensation works, Cross Country TravCorps is here to help you every step of the way. 

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