Overtime Laws for NP Business Owners
In May 2016, the Department of Labor (DOL) announced revised regulations that affect the Fair Labor Standards Act's overtime exemptions. The new law states that any business that employs workers with salaries under $47,476 will be directly affected by the new regulations and all NP owner practices need to consider their best course of action for each affected employee. The changes are estimated to affect 4.2 million American workers, who will be newly eligible for overtime pay.
As we know well in healthcare practices, overtime happens- a lot! Often unavoidable, the patients needs must be addressed and emergencies happen, many owners look for contingency plans or best practice ideas to stay in compliance and not exceed budgets. What solutions have you developed? Is this a problem that will impact your current salary base?
We would like to hear how this law is being approached in your practice. What added cost or added administrate controls have you had? Please share comments for the collective, we are in this together!