NR510 Discussion ThreePart OneYou are a family nurse practitioner (FNP) employed as a contract (1099 independent contractor) 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, who are staff employees (W2 employees). 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 behelpful. Your contract is up for renewal in 3 months. You are highly satisfied with your job and want to stay with 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? How does your role asa 1099 contractor benefit the practice over the W2 employees? What evidence will you present tothe practice to reinforce your value in the practice both in terms of revenue and patient satisfaction? Consider any additional services you may be willing to provide under your contract.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.Initial PostWhen proposing a contract renewal, negotiation strategies should be used. These strategies include contributions to the practice and supporting evidence, revenue brought in, and amount of physician consultation required by the NP. When negotiating a contract, an NP should be knowledgeable about their contributions, how the practice obtains revenue, what terms of employment are most important to them, and be prepared for any counter-negotiations the employer might have. It is best to seek legal services when negotiating a contract. If the NP has been successful, they should be willing and able to negotiate for reward. As a 1099 contractor, the NP has the benefit of being “self-employed” and able to negotiate terms for the services they offer and can choose hours in which they work, unlike that of a W2 employee. It benefits the practice by being able to charge for certain services, and because often times 1099 contractors donot have benefits through the employer. The evidence that I would present to the practice to reinforce my value in terms of patient satisfaction and revenue would include statistics from the past year earnings. This would include items such as the amount of patients seen per hour, day, month, and year, frequently billed CPTs, collection rates, and amount of physician consultation time needed. Additional services that a NP may be willing to provide under a contract would be on-call schedules, vacation times, number of hours worked per week and possibly services such as home visits. (Buppert, 2015).