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How to Reduce Staffing Costs in Your NP Practice

Nurse Practitioners in Business

Here are the top three expense categories typically seen in a small practice: Employee expenses: payroll, benefits, taxes Rent & Utilities: office space & water, gas, electricity, internet Insurance: medical malpractice, general liability, property, workers compensation, and other types of coverage. Insurance is a non-negotiable.

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Help, I’m Being Sued!

Empowered Nurses

The last thing we want to do is to be sued in a medical malpractice case. Malpractice is a fancy word for negligence: a civil wrong. If you give ampicillin instead of aminophylline and the patient has no untoward effects, it is not malpractice. These are the words of a nurses biggest nightmare.

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5 Risk Control Considerations as Nurse Practitioners’ Scope of Practice Expands

Minority Nurse

Courts increasingly recognize NPs as independent providers, which affects how liability is assigned in medical malpractice cases. The report also found that the distribution of malpractice claims against NPs involving diagnosis-related allegations rose from 32.8% Malpractice Insurance. of claims in 2017 to 37.1%

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Building an Emergency Fund for Your Practice

Nurse Practitioners in Business

Here are some examples: Insurance reimbursements are delayed or denied Technical malfunctions or a network gets hacked You have problems with employees There may be lawsuits and malpractice claims Changes in legislation affecting your profession Economic downturn affecting your practice Natural disasters such as tornadoes, hurricanes, earthquakes, (..)

Business 195
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Record-Keeping Beyond Charts

Nurse Practitioners in Business

Administrative and Business Records This category includes your practices foundational paperwork: Business & professional licenses Continuing education documents Tax IDs Federal registrations Vendor and lease agreements Malpractice insurance records Credentialing records Collaborative agreements Etc.

HIPAA 195
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Don’t Let Tax Season Sneak Up: Use This Checklist

Nurse Practitioners in Business

Business Insurance: Malpractice insurance, general liability insurance, and workers compensation (if applicable) are all deductible expenses and must be tracked and recorded. Keep track of everything; even small purchases add up over time.

Business 286
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Virtual Job Opportunities for Nurses: Careers Beyond the Bedside

Diversity Nursing

Legal Nurse consultants assist attorneys by reviewing medical records for malpractice cases, while healthcare consultants help improve clinical workflows and policies. Online Nurse Consultant Experienced Nurses can provide consulting services for legal cases, healthcare businesses, or education programs.