Self-Emplyment in Public Health { Tiffany Tate, MHS 96 SOHPH February 12, 2013
Self-Emplyment Opprtunities Grant-Writing Prgram Planning Health Educatin/Health Literacy Prgram Evaluatin Data Analysis and Reprting Strategic Planning Marketing/Cmmunicatins Media Relatins Event Planning General Cnsulting (all f the abve) Cntract Wrk Others???
Ptential Clients Gvernment Agencies Nnprfit Organizatins State and Lcal Health Departments Hspitals Clleges and Universities Private Cmpanies Prfessinal Assciatins Insurance Cmpanies
Advantages f Self-Emplyment Flexibility in wrk schedule Ability t select wrk lcatin Ability t select prjects Ability t chse clleagues Relatively limitless earning ptential
Disadvantages f Self-Emplyment Must find wrk N Wrk = N Pay Pssible unpredictable/unstable wrklad Respnsible fr wrk-related expenses Increased administrative respnsibility the buck stps with yu Limited r n wrkplace camaraderie
Why Agencies Hire Cnsultants Seeking expertise in specific area Need t satisfy shrt-term staffing need T help meet deadlines Oftentimes cheaper than full-time emplyees
Cnsultant s Prfile Risk-taker Outging Disciplined Self-Mtivated Persnable Gd Cmmunicatr (verbal and written) Organized Creative
Cst f Self-Emplyment Equipment Dedicated phne number Cmputer Printer Cpier Fax/fax subscriptin Scanner Pstage scale Pstage meter Credit card capabilities Office Supplies Equipment Repairs Meeting registratins Prfessinal publicatins (ie. jurnals) Prfessinal assciatin memberships Mileage and travel Prfessinal email address and/r website
MAJOR Expenses Office Space - $600 t $1,200 per mnth Health Insurance Up t $1,000 per mnth Disability Insurance up t $500 per mnth Prfessinal Liability Insurance appx. $400 annually
Other MAJOR Expenses Life Insurance - $30 t $100 per mnth up t $1,200 annually Retirement - up t $13,000 per year Self-Emplyment Tax Apprximately 15% f incme
Preparing fr Self-Emplyment Develp a plan and d yur hmewrk Find a mentr Research cnsulting pprtunities Find a niche Take advantage f trainings ffered r cvered by yur emplyer Becme an expert in ne r mre areas Build relatinships in yur field
Preparing fr SE (cnt.) Jin prfessinal assciatins Spread the wrd Save 6+ mnths f living expenses r pay bills in advance Be creative with yur departure Maintain gd relatinships with frmer emplyers Start n the side
What s Ht in Public Health? Health Disparities Obesity Public Health Emergency Preparedness (eg. Pandemic influenza) Health Refrm Infrmatin Technlgy Access t/utilizatin f Care Health Literacy Patient-Centered Medical Care
Getting Started Research, research, research Find a gd accuntant Get impressive letterhead and business cards Decide n business name and structure incrprate r nt? Register with apprpriate departments and prgrams (eg. small business, minrity business assciatins) Cnsider industry standard and business expenses when determining fees
Setting Yur Rate Check ging rates, cnsidering experience and educatin Tate Frmula Start with ideal (yet reasnable) annual salary Divide by 2080 t get hurly rate Add 30 t 40% fr fringe Add 15 t 40% additinal fr cnsultant expenses
Setting Yur Rate: Tate Frmula Desired annual salary: $100K $100K / 2080 = $48.07 per hur Fringe: $48 * 0.3 = $14.40 Cnsultant Expenses 48 * 0.3 = $14.40 Cnsultant s Hurly Rate: $48.07 + $14.40 + $14.40 = $76.87 Hurly Rate: $77 * Nte that 2080 hurs a year may nt be guaranteed.
Onging Cnsideratins Staffing and Business Grwth MFN Clause Insurance Cverage Retirement Planning Taxes Vacatin and Leave Time
Tips fr Success Cmmit t Excellence Push fr lng-term cntracts Secure retainers, when pssible Stay in clse cmmunicatin with clients Be flexible Fllw thrugh Define and Maintain Balance Give back t clients and cmmunity
Cntact Inf: Tiffany Tate 410-484-6515 tiffany_tate@msn.cm