Compensation to continuing education tuition for my

This preview shows page 1 - 2 out of 2 pages.

compensation to continuing education tuition. For my contract renewal negotiation strategy, I would start out by stating that Nurse Practitioners (NPs) are revenue generators. As a FNP, I am aware of how my work contributes to the overall revenue of my current clinical practice. For example, I currently see 20 patients per day on average and take call every third weekend. According to Buppert (2015), an NP who sees 15 patients per day at $70 per patient visit, on average, brings in $1050 per day. Allowing 1 week off for continuing education, 1 week off for illness, and 4 weeks off for vacation, the NP could potentially bring in $241,500 a year. While this is a good amount of revenue for the practice, it doesn’t end here. With a 90% collection rate, 10% will be deducted for unpaid bills, the NP will actually bring in $217,350 per year. As stated above, I currently see 20 patients on average. If I would increase the amount of patients I see per day to 24 patients, I would bring in $1680 per day, or $386,400 per year in accounts receivable. With the 90% collection rate, I would bring $347,760 to the practice (Buppert, 2015).
Agreeing to increase the number of patients I will be able to see does not only increase revenue to the practice but could also assist with the contract renewal while remaining within my scope of practice. During negotiation for contract renewal, I would also like to negotiate expenses related to CME tuition and travel, and malpractice insurance. Blazek (2014) stated that during contract negotiations, other benefits should/need to be negotiated as well. Reference Blazek, N. (2014). How to negotiate a fair NP contract . The Clinical Advisor. Retrieved from - contract/article/356496/ Buppert, C. (2015). Nurse practitioner’s business practice & legal guide (5 th ed.) . Retrieved from

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture