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Legal Nurse Facts Sheet

Nature of the business

Consultants in the legal field include:

legal nurse consultants;
life care planners;
case managers;
care managers;
elder care managers;
forensic nurses;
Medicare set-aside consultants and others.

Workplace: Usually home office with reports sent to the client; sometimes client attorney's office or in court.

Resources to get you started

Nurse Entrepreneurs: Tales of Nurses in Business. Discover what other nurses are doing. See book details and/or purchase.

Self-Employed RN: Choices, Business Aspects, and Marketing Strategies. Learn how to choose your career path and start your business. See book details and/or purchase

Business plan template (Word® document on CD). See details and/or purchase

Independent contractor's and consultant's contracts (Word® document on CD). See details and/or purchase

Email questions to Pat Bemis at bemis@nnba.net.

Education

The NNBA provides the needed business education customized for nurses.

Gain knowledge to provide the service by reading a book, working in the field, or by taking a course. Certification not needed.

Education can be formal or informal. NNBA recommended formal courses include:

Legal Nurse Consulting
http://www.ce.ucf.edu
Life Care Planning Online Program (120 hours)
http://LCP.dce.ufl.edu
Elder Care Management Online Program (60 hours)
http://ecm.dce.ufl.edu
Health Care Risk Management Online Program
http://hcrm.dce.ufl.edu/
Medicare Set-Aside Program
http://msa.dce.ufl.edu/
International Symposium on Life Care Planning
www.flcpr.org

Startup costs and legal structure

The startup cost for an RN consulting service is relatively low. You can use a home office and equipment (computer, printer, etc.) that you already have. As an RN, you are licensed to practice as a nurse; therefore, you are not required to start a sole proprietorship, limited liability company (LLC), or a corporation.

Although it is not required, the NNBA recommends that you incorporate your business to protect your personal assets and take advantage of many tax deductions only available to small businesses.

Find a list of startup costs in the book Self-Employed RN: Choices, Business Aspects, and Marketing Strategies.

Industry future

The future for this industry is excellent because:

nurses are in short supply;
attorneys and insurance companies search for solutions to the high cost of using physicians as consultants;
nurses have proven their effectiveness in the industry.

Earnings

Annual: approximately $125,000
Hourly: approximately $100 to $250

Marketing

The decision to hire you as a consultant originates with the the paralegal or insurance adjuster.

Networking works; cold calls don't.

Business legal structure

A corporation provides the most tax deductions and protection of personal assets. It is an independent legal entity separate from its owners.

Little known facts

Earning your living as a sole proprietor or member of an LLC may cause difficulties when applying for loans and mortgages.

A consultant's business plan only needs a three month financial projection.

Legal information is readily available online.

If you have questions about starting a consultancy, contact Pat Bemis, RN CEN, president NNBA. Contact by email. Phone (321) 633-4610.