article thumbnail

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

Minority Nurse

Driven by the need for increased access to care and the demand for more healthcare providers, recent legislative changes now allow nurse practitioners (NPs) in certain jurisdictions to perform a broader range of services, including diagnosing and treating patients independently. of claims in 2017 to 37.1%

article thumbnail

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.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Building an Emergency Fund for Your Practice

Nurse Practitioners in Business

“ The post Building an Emergency Fund for Your Practice appeared first on Nurse Practitioners in Business. Join the conversation, leave your comment below By Johanna Hofmann, MBA, MAc., EAMP; regular contributor to the NPBusiness blog and author of Smart Business Planning for Clinicians.

article thumbnail

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. To sum up … By following this checklist, Nurse Practitioners in business can stay organized, file their taxes on time, and avoid penalties.

article thumbnail

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. By Johanna Hofmann, MBA, MAc.,

article thumbnail

Is Nurse Midwifery the Right Pathway for You?

Registered Nursing

The Challenges: Realities to Consider Every healthcare career comes with challenges; midwifery’s specific difficulties include: Work-Life Balance Complexities Unpredictable on-call schedules interfering with personal life 24/7 availability in many practice models Natural timing of labor requiring night, weekend, and holiday work High responsibility (..)

article thumbnail

Is Your Practice Ready for Growth?

Nurse Practitioners in Business

Scope of Practice, Licensing, Malpractice Is the service within your scope of practice? How would it impact your malpractice coverage? appeared first on Nurse Practitioners in Business. If considering a cash-based service, determine if patients are willing and able to pay out of pocket before launching.