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Michael Kuczkowski
January 11, 2019
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The pros and cons of freelancing

More and more people, especially those in the Millennial generation, prefer working independently. Among other benefits, it allows for flexible work schedules and provides experience working with many companies.

Businesses in many highly skilled fields, including law and accounting, have hired freelancers for years.

The medical profession is finally catching up. It’s offering more opportunities for professionals with health care experience to work on a contract basis.

If this seems like an interesting opportunity for you, you owe it to yourself to evaluate the pros and cons of working as a freelancer.

Pros

No set hours. You determine your schedule, working when — and how much — you want. It’s a big PLUS for people who need flexibility, such as working parents, students, retirees and those that want to have more flexibility and freedom in their lives.

Higher earnings. Freelancers usually earn more per hour than permanent employees.

Unlimited potential. Earnings are only limited by your skills and experience and how much you work.

More exciting. Freelancers aren’t stuck working at the same place — doing the same things — every day.

Continual self-improvement. Working in different situations lets you learn new ways of doing things, along with best practices.

Try-out full-time opportunities. Freelancing at a facility is a good way to figure out whether it could be a good long-term fit.

Be adventurous. You can travel, working in different places.

Cons

No insurance. You aren’t covered by employer-sponsored health insurance and typically have to find your own coverage. This may not be an issue if you have other options available to you (for example, a spouse’s policy).

No benefits. Freelancers aren’t eligible for employer benefits, like a 401(k) or paid time off. You could pay for benefits with the extra money you earn as a freelancer.

Complicated taxes. As an independent contractor, filing taxes is often more complex. Tax software can help with this issue.

Variable earnings. Your paycheck won’t always be the same. That’s because you’re dependent on the availability of work. This isn’t a big issue when unemployment is low like today. PLUS health care is a high-demand field.

High learning curve. You’re required to learn different processes and procedures when you start new positions.

Higher stress. You’re under pressure to start working at new jobs with minimal training.

Fewer personal connections. There’s limited opportunity to make new friends and bond with coworkers.

Similar

Comparable backgrounds. Freelancers must have the same educations, levels of experience and licenses as full time employees — and abide by the same regulations.

Regular pay schedules. Similar to full time jobs, freelancers are paid by the entity they work for. A reputable freelance service holds earnings in escrow, so you can rest assured knowing you’ll be paid regularly or at the end of assignments.

If healthcare freelancing seems like a good fit, check out sites like HealthFreelance.com. It’s a cutting-edge platform that connects all types of freelancers that have healthcare experience with companies and individuals looking to hire them. Registering on the site will help you see the kinds of opportunities available to you as an independent contractor.

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