perform according to a job description. In a percentage salary arrangement, an NP is paid the amount the NP bills minus accounts receivable, minus the NP’s portion of practice expenses (which includes the expense of physician consultation). In a base salary plus percentage arrangement, an NP is guaranteed a set salary but can make additional salary if he or she generates practice income over some set amount. NPs working on an hourly basis are paid only for the hours worked” (Buppert, 2015, p. 331). I personally found trying to select a contract a little overwhelming. This is what I came up with: 20 patients per day ($56/visit) = $1,120/day 5 days a week = $5,600/week 52 weeks – 4 weeks vacation = 48 weeks worked = $268,800 Minus 40% for overhead expenses = $ 161,280 Minus 15% for physician consult services = $ 137,108
NR-510-WEEK 3-DISCUSSION-PART 2 3 After completing the above calculations, I believe my renewal salary should be around $ 137,000 a year for an experienced NP. This number greatly differs based on the amount of patients the NP sees on a daily basis. I believed as an experienced NP like discussed in the question renewing their contract 20 patients a day does not seem like an over whelming amount of patients.
NR-510-WEEK 3-DISCUSSION-PART 2 4 References Pickard, T. (2014, March 1). Calculating Your Worth: Understanding Productivity and Value. Journal of the Advanced Practitioner in Oncology , 5(2) , 128-133. Retrieved from
- Fall '15
- Salary, Physician