Arizona Nurse - April 2021

April, May, June 2021 Arizona Nurse • Page 19
Practice Tips for the Independent Nurse Practitioner
Because of AzNA nurses can say YES
YES
YES
Michelle M. Anderson
DNP, FNP-BC, APRN, FAANP
NPI Vice-President
fnpmma@yahoo.com
Reprinted with permission RN Idaho,
February 2021
Full practice authority has been in place
in Idaho since 1998 (HB662) with removal of
the Board of Medicine governance of nurse
practitioners (NPs). In 2003 legislation passed
removing physician supervision and the rule
amendment was adapted in 2004. With this
opportunity comes the option for independent
NP practice. The Global Signature Authority Bill
(S1240) passed in July removing some further
barriers to independent practice. Owning and
operating your own NP business is not for the
faint of heart. Having the ability to manage all
things with a side order of business acumen is
incredibly important. According to data from
the U.S. Bureau of Labor Statistics, about 20%
of U.S. small businesses fail within the first year
(Gustafson, 2020).
So, given these types of statistics for failure,
why even bother? NPs are not educated in
graduate school on how to run a business, at least
most are not. This is unusual considering how
many other types of programs offer some of these
options. How can you plan for success when you
are never taught the basics? One way to work past
this is to reach out directly to the Small Business
Administration (SBA). They often offer classes,
courses, and counseling to new business owners
or potential business owners. They have an online
learning center dedicated to a lot of the needed
basics to get you on the right path.
there is a strong state-wide
voice for nursing
nurses influence laws, rules
and Scope of Practice
You have made it through graduate school so
utilize the brains you were given and knowledge
that you have. Running a business has a lot of
common-sense aspects to it. You must bring
in more than you put out. You must remember
to offer exceptional customer service. Equally
important is having the team that you work with
be engaged with the practice. A welcoming and
knowledgeable receptionist and an engaging
and skill oriented medical assistant or nurse are
invaluable. Make sure their viewpoint is heard
and acknowledged. Hire the right people into
positions so you are not micromanaging the
practice all the time and able to focus on the
part that is the true joy – patient care!
Enough cannot be said about credentialing
and billing. A good biller and/or billing system
is worth their weight in gold! This is how the
money is collected and how you stay afloat.
Compliance with the insurance companies’
requirements and awareness of the changing
landscape is sometimes more than you can
keep up with. Bringing in people to do the
things you are not sure how to do is a smart
business decision.
Stay focused on your goals. Important at
the start is the creation of a business plan with
1, 3, and 5-year goals. The SBA offers a free
course and worksheets to get you started. You
should know where you want to go and have
a plan on how to get there. This may involve
the number of patients associated with the
practice, successful attainment and loyalty of
staff or even the ability to simply hire staff. You
might want to look at space and potential for
growth. And above all else, you want to make
sure to manage your overhead. Planning helps
keep you profitable.
YES
YES
promotion of a healthy
Arizona
nationally accredited
continuing education
Marketing of a new practice is tough for
most of us, largely because we are taught in the
beginning of our nursing career that everything
we do is for someone else. This may be true
to a point, but this is the part where you really
need to shine. In order to shine you have to be
willing to talk about how amazing and skilled
you are and how wonderful your practice is.
This might involve something unique you offer
that another practice does not, or just how
accessible you are to your patients.
As NPs we are renowned for our listening
ability. That is a phenomenal marketing point
as most patients want to be heard. We are
taught early in NP school that 90% of the
time the patient will tell us what is wrong if
we ask the right questions and listen to the
answers. Another strong marketing point is
to be genuine. Market in areas that are of
interest to you. Perhaps you can volunteer as
the healthcare provider at a sporting event, or
belong to a Chamber small business group, but
whatever you chose, be genuine about it. You
do not need to be a guerilla marketer to be a
successful business owner.
Be good to your patients and they will be
good to you. Word of mouth on care is such a
huge way to grow a business. Take time to get
to know your patients and they will recognize
that and refer other like-minded patients your
way. If your passion is young family care then
cultivate that. Also know your limits and set
up a good referral network. Your referral is
an extension of you as the patient is trusting
that you are sending them to another good
provider.
Finally, belong to your state and national NP
organizations. They have access to additional
resources you may need or additional expertise.
Most questions that you come across have
already been asked and these organizations
can help save you some leg work. If nothing
else, they can put you in contact with other
independent NPs for support. Although you
are doing this independently, you do not have
to do it alone. Take that first step, do it with
purpose and knowledge, confidence, skill, and
finally grace.
References
Gustafson, K. (2020, August 7). What Is the Bureau
of Labor Stats Small Business Failure Rate in
2020? LendingTree. https://www.lendingtree.
com/business/small/failure-rate/
YES
collaboration on the local
and national level
www.aznurse.org
YES
nurses have access to
mentors and role models
aznurse.org/JoinToday