NR510 week 3 Discussio

NR510 week 3 Discussion Part 1

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.

Question;

1.
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.

NR510 Discussion part 2

As revenue generators, NPs must be aware of how their work
contributes to the overall revenue of the clinical practice. You see 20
patients per day on average, and take call every third weekend. According to
Buppert (2011), an NP who sees 15 patients per day at $56 per patient visit, on
average, brings in $840 per day. Allowing 1 week off for continuing education,
1 week off for illness, and 4 weeks off for vacation, this NP will bring in
$193,200 a year, potentially. However, not all bills are paid. With a 90%
collection rate—a reasonable collection rate for an efficient practice—this NP
actually will bring in $173,800 per year. An NP who sees 24 patients per day
will bring in $1344 per day, or $309,120 per year in accounts receivable. With
a 90% collection rate, this NP will bring $278,208 to the practice (Buppert,
2011).

1.
In this scenario, what are you “worth” to the
practice? Use logical reasoning and provide evidence based rationales for your
decisions.

NR510 Discussion part 3

Establishing a salary can be a challenge for NPs. Deducting
40% of the NP’s gross generated income for overhead expenses (rent, benefits,
continuing education, supplies, malpractice, lab expenses, and depreciation of
equipment) leaves $104,280 for the 15-patient-per-day NP and $166,925 for the
24-patient-per-day NP. Further deducting 15% of that figure to pay a physician
for consultation services leaves $88,638 in salary for the 15-patient-per-day
NP and $141,887 in salary for the 24-patient-per-day NP. Deducting 10% for
employer profit leaves $79,775 in salary for the 15-patient-per-day NP and
$127,699 for the 24-patient-per-day NP (Buppert, 2011).

1. What
salary would you propose for the 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.

Explanation & Answer

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