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.
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
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).
are other deductions such as rent, benefits, supplies, continuing education, malpractice,
lab expenses, and depreciation of equipment that go into play when discussing a