Question

NURS 6565

Assignment 1: Business Plan Development

Elizabeth Jones, FNP-BC, has been an NP for 8 years. She has worked in the primary care setting, as well as the urgent care setting. She is considering relocating to a state that allows for unrestricted independent practice and opening her own primary care clinic. There are multiple benefits to owning an independent practice. However, owning a practice requires extensive knowledge and support. For an NP to establish independent practice, an appropriate plan must be developed. For this Assignment, you will create a Business Plan for your potential future busines

Write a 2-3 page paper Business Plan that addresses the following:

Identify and explain your chosen business structure

Estimate monthly cost for establishing your own independent practice in your home state, including:

Clinical site expenses

Employee structure and expenses

Supplies

Utilities and other overhead expenses

Malpractice insurance

Continuing education expenses

Accounting fees

Services identified that you will provide (e.g., primary care services, drug screens, DOT exams)

Projected monthly income necessary to support your independent practice.

Answer 1

The following steps should be taken into consideration for a NP to establish independent practice:

-Mature a provision system.

None of us functions in a void. It is indispensable that you mature a squad of specialists to contribution to you. That squad might preliminary with a business advocate and CPA in instruction to jump you out on the accurate foot together officially and monetarily. You will also require to system and architect with other NP Commercial Proprietors who have previously voyaged this road. It will probable accept you time, cash and hindrance.

-File the essential form-filling.

The paperwork alone will retain you demanding. You will require to folder for the essential commercial certificates and licenses. You require to become an NPI number, which should associate with your new Tax ID amount. As soon as physically likely, if not beforehand, commence the credentialing procedure with Medicare. That one will take the lengthiest. File the others as rapidly as you can.

-Bargain a reasonable location.

Where you want to trace your practice is an imperative choice. Reflect how much space you require now and for forthcoming growth. In your attention, walk done your space to regulate what you think you will want. Make certain it senses good as well as make decent monetary since. Deliberations counting rental a medical workplace, procurement and renovation a space as well as construction from the milled up.

-Investigation of financial prognoses.

As soon as conceivable, start meeting info about compensation charges from payers. With this info, you’ll be able to brand some prognoses about your possible uncultured and net pay. Don’t fail to recall to influence in the inferior reimbursements that numerous still wage NPs.

-Scout everywhere for insurance.

Shop early for your obligation insurance. Virtually all payers want to see resistant of your malpractice reporting previous to credentialing you. This comprises numerous of the strategies you may previously be credentialed with.

-Hunt for inexpensive and practical equipment.

I don’t purchase the impression that you have to devote an enormous quantity of money to expose your commercial. Nor does the whole thing need to be product new. I did a lot of spending at extra shops. Expected you will acquisition together new and used apparatus. Deliberate keeping your spending slant to those substances that you will actually needed originally, as well as those substances that you can demonstrate a decent profit on investment (ROI).

-Summary your staff policy.

What parts will have to be occupied as your practice produces. Who can you apply in additional than one postulating as you get successful. Recall, when thoughtful about staff, you will have heaps of extra fees and duties related with existence of a proprietor.

-Study all you can about billing.

If there is one item to wish to have known additional about before commencement this practice, it would be billing. Compensation is the reason of maximum of my business annoyances, and has approximately locked more than one practice. None cannot highlight this sufficient. Study it, and then screen those who are liability it for you.

-Let individuals distinguish about you.

Advertising! I formerly read that we only contemplate we are in occupational to deliver whatsoever slice we are as long as, when it fact, our factual job is to market. They have no business without customers and patients. The method they discover us is advertising yellow pages, expression of mouth, recommendations, insurance corporations, websites, and newspaper advertisements to tag just a few.

-Expression Ahead.

Take the interval to recognize your goalmouths and keep them efficient. Choose how you want to produce and when it is period for you to transfer on. Brand sure, as much as conceivable that you shape a commercial that hysterics you and your lifestyle.