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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.

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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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Professional Wills: What Happens if You Die?

Nurse Practitioners in Business

For an NP practice, for example, a professional will outlines all practice management tasks, including patient records, ongoing patient treatments, financial accounts, employees, taxes, leases, vendors, etc., in the event of incapacity, disability, or death of the owner.

Business 195