Discussion Part One (graded) You are a Family Nurse Practitioner (FNP) employed as a contact employee in a busy primary care practice for 2 years. The providers in the group include one physician, who is also the owner of the practice, and two other nurse practitioners. The owner of the practice recently made comments about the need to produce more revenue. You relate with his concerns and feel that you have several strategies that could be helpful. Your contract is up for renewal in 3 months. You are highly satisfied with your job and want to stay in the group. You see 20 patients per day on average, and take call every third weekend. Discussion Question : What negotiation strategies should you use to propose a contract renewal? Use logical reasoning and provide evidence based rationales for your decisions. Keep in mind that your negotiation terms and conditions must be within the legal scope of practice for an ANP. Hello Dr. Shannon and Class, While negotiating a new contract I would remind my interviewer of all my accomplishments in the last year (Buppert, 2015). Then I would produce evidence to back up my accomplishments by showing off my portfolio from the previous year at this practice (Buppert, 2015). In this portfolio, I will show an increase in the number of patient’s seen; which has increased to about 20 patients per day. According to Buppert (2015), an APRN seeing 15 patients per day at $70 per visit, an APRN can bring in $1,050 per day. If we allow 1 week off for continuing education, 1 week off for sick leave, and approximately 4 weeks off for vacation, I, the NP, would potentially bring in approx. $241,500 a year. However, not all bills are always paid. With an average of 90% collection rates—which is a reasonable collection rate for an efficient practice—this would bring the total to $217,350 per year. If I chose to see 24 patients a day this would bring my totals to $1680 per day, or $386,400 a year in profit. Again, with an average 90% collection rates, I would potentially bring in $347,760 (Buppert, 2015. P 332). This documentation would include graphs and CPT codes used for billing and list all insurance companies that are responsible for payment such as private insurance, private pay, Medicaid, or Medicare, and collection activity (Buppert, 2015). Now there are other deductions such as rent, benefits, supplies, continuing education, malpractice, lab expenses, and depreciation of equipment that go into play when discussing a contract; but this example can prove to the interviewer of an APRN’s worth.
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- Fall '15