About Us
Nurse Practitioner Business Owners blog (NPBusiness.ORG) is an idea that was born out the need and frustration for Nurse Practitioners in private, independent practice to be able to connect, share resources, offer support, and learn from one another. It goes beyond that day to day support we give and receive from one another around our professional practice…this goes into the business of being a NP.
NPs who have their own practices are breaking the mold for NPs in general as most are still in employed situations (out of preference or necessity). There are also NPs who have broken the “private practice mold” and are working in and outside areas of health care that are new and exciting. NPs have businesses in the educational field, legal field, insurance field, anti-aging field, retail and more.
It is the goal of this site to look at all areas of business that NPs are involved in. To do so…it requires that input and assistance of many NPs…and fortunately several NPs in practice have already agreed to participate.
NPBusiness.ORG will is new and will continue to grow with the needs of Nurse Practitioners. You are encouraged to participate and can do so in one of many ways:
- Leave a comment on the blog
- Contribute a written piece - perhaps an article, resources or practice regulations in your location, etc. Some ideas for articles of interest may include issues around billing, insurance companies, finding the right malpractice policy, hiring staff, outfitting an office, business insurance, book keeping, taxes, legal assistance and business structure just to name a few.
- Answer questions and offer support to those needing assistance.
To contact me or to leave a general comment, concern or question, please feel free to use the contact me forms you’ll find around the site. Alternatively, feel free to visit my site @ www.barbaracphillips.com.
Remember to bookmark the site and check back at least weekly and/or be sure to subscribe to the RSS feed.
Wishing you success,
Barbara C. Phillips, MN, NP
Family & Geriatric Nurse Practitioner
www.NPBusiness.ORG
www.NursePractitionerBusinessOwner.com
{ 15 comments… read them below or add one }
I stopped by after reading your nice comment on my blog. What a great site you have here! While I’m not working as an independent (quite yet! new grad), I will eventually have a go at it someday. Meanwhile, I supplement my student loans with adsense ads on my regular blog site. I will definitely be back to find out all the great tidbits so when I’ll be ready, I will really be ready!
Well. I have found my way here and it looks great. Congratulations!! I have given a PhD program a try, but it is not meeting my expectations or i was unclear as to what I wanted from it. I am now being offerred a chance of a lifetime-to start in a new integrative med clinic where i can build my own practice.
I don’t have funds to go in without some financial backing so I have to develop a plan for the MD on how to pay me intil I can afford to be independent of him. In my state, i need an MD to practice, so I will always be tied to him at this clinic. I have the books that are recommended, but it will take time to go thru them.
I am hoping someone here has some advice and sample contracts. has anyone taken out a business loan to get started?
I am open to any suggestions. I hope to blog on this process as i go along to help others as they come along.
Paula
Paula,
Welcome over here! Barbara has done a great job. I am on a shoe string. No business loans. However as far as supplies for a practice, e-surg gives you a line of credit. Regarding contracts, for working with doctors, Carolyn Buppert has a book on Productivity based practice, and she also has a sample independent contractor contract in her original book. The website http://www.nnba.net also has books on contracts. But I am working part time at another job, and being single, am just really hoping my practice will at least see 3-4 patients a day to start which will help me pay the bills. I do not plan to open until mid June. email off line if you wish because are you still working for the integrative clinic? Carla email: carla_rayn at yahoo.com
Paula, I shopped at a lot of 2nd chance stores for some things and a lot of my office furniture is used. Fortunately the physicians that I have a collaborative relationship with did not request a fee…. One of my nurse practitioner colleagues said that physicans in Mississippi may ask for 0 – $1000 per month… for being your collaboarative physician. You can find contracts on line…. Talk with your chamber of commerce also you may have to join… but for me it has been worth it…
Don’t stock pile anything until you start seeing a substantial amount of people… I have supplies just sitting on the shelf… and I am having to pay charge card every month for supplies I have yet to use…. HOpe this helps
Paula, I am currently in the process of trying to get a business loan. I realize that your posting was a few months ago, but I would love to hear if you have gotten a loan as of yet? Or how it is going? Any advice would be appreciated. I have been working with the SCORE counselors in this area. The biggest problem that I have run into is not having cash to put into the business. I have equity in my home, but the I was told I could not take it out of the equity in my home. I am however in the process of refinancing my home and plan to reapply with cash in hand.
I would appreciate any suggestions.
Thanks,
Sherry
Paula, I am about to open my own practice in AZ. it was an existing NP practice w/ very low overhead. I am in need of some help w/ gettin credentialing it seems overwhelming does anyone have any advise. I am hoping to open 2 days/wk in May and wouls like to start w/ cash and hopefully medicare until credentaling is approved. Any advice.
Thanks
Jackie
Jacqueline,
Credentialing is not a walk in the park, but once it’s done you should not have to revisit it often. I recommend contacting each insurance company you wish to accept and obtaining there contract for credentialing. Also, find out who your provider rep is for each payer. Most contracts are not too difficult, just tedious. You can always outsource and have a third party handle the contracts for you. Make sure you do a CAQH profile, because most payers will work from that and all you have to do is sign the contracts.
I hope that helps. If you have other questions please ask.
Mylikia
Paula,
I am looking tio renew a contract and would like advise since i feel my last one was almost an insult to me, can anyone help? Thank You.
Margie
Just found this site and am grateful for its existence. Still working on my NP in gerontology, in addition to certs in LNC, and Patient advocacy. Dream is to have a practice with a couple of talented practitioners. I will be accessing this site often, while on my way.
Thank you, Laurie
Laurie,
Best wishes on your GNP. The need is great and is growing. Let us know how you are coming along.
Barbara and others: just found this site, thank you for all of your comments and advice. Would love to connect up with a mentor who has started an independent practice. I have had other businesses so some of this is not new but the billing aspect could obviously make or break. So what is the FIRST thing to do as to billing. And as for malpractice, does anyone have some contact information. I am in Indiana so assuming I need a collobarator. I am working on a business plan and timeline right now.
Jacqueline frasca, are you still here?? Are you still in AZ?? I would love to see how you are doing. I am in Sierra Vista.
hello I am a family nurse practitioner, interested in starting my own practice. I want to start slow by seeing my own patients on saturdays only until I built up my clientele. My father is an internist with his own practice. He has agreed to let me use is office and equipment on the weekends. My question in how do I go about getting credentialed and reimbursed? I am currently credentialed with my current employer (a community health organization). Do I need seperate credentialing for my own practice? Any information/advice you can provide would be greatly appreciated. I practice in Tennessee
Hi Adrienne,
You will need to establish your business as an entity unto itself. Once you do that, you’ll need a separate tax ID number (EIN) and an NPI for that business (you also keep your own NPI). Then you will need to get credentialed. Some will allow you to just send them the new numbers, others will require you to start the credentialing process all over.
Hope this helps,
Barbara
Hello, i am thinking about opening my own practice. I would like to start with taking cash from the patients. Is that a good idea in the long run? How much cash is reasonable?