NURS 6565 Week 10: Nurse Practitioner’s Business Plan Development Business Plan Development Essay

NURS 6565 Week 10: Nurse Practitioner’s Business Plan Development

For nurse practitioners looking to establish an independent practice, a solid business plan is essential. Elizabeth Jones, FNP-BC, who has been an NP for 8 years, is considering opening her own primary care clinic in a state that permits unrestricted independent practice. While the benefits of owning an independent practice are significant, success requires a deep understanding of business logistics, including legal and financial aspects. This assignment guides you through creating a business plan for your future practice.

Business Plan Assignment

Write a 2–3 page business plan addressing the following areas:

1. Business Structure: Identify and explain the business structure you’ve chosen for your private practice.
2. Monthly Costs: Provide a detailed estimate of the monthly costs required to establish your independent practice in Texas. This should include:

• Clinical site expenses
• Employee costs (salaries, benefits, etc.)
• Supplies
• Utilities and other overhead costs
• Malpractice insurance
• Continuing education
• Accounting fees

1. Services Provided: Identify the services you will offer, such as primary care services, drug screenings, DOT exams, etc.
2. Projected Monthly Income: Estimate the income needed to cover your costs and sustain your practice.
3. Long-Term Goals: Outline the long-term goals for your practice as a nurse practitioner.

References:

• American Association of Nurse Practitioners (2016): State Practice Environment Link
• Buppert, C. (2018): Nurse Practitioner’s Business Practice and Legal Guide (6th ed.). Sudbury, MA: Bartlett & Jones Learning.
• Appendix 11-A: Checklist for Setting Up a Practice
• Appendix 11-C: Sample NP Business Plan
• Chapter 11: Practice Ownership: Legal and Business Considerations
• Buppert, C. (2015): Nurse Practitioner’s Business Practice and Legal Guide (5th ed.). Burlington, MA: Jones & Bartlett.
• Chapter 11: Legal and Business Considerations
• Appendix 11-C: Sample NP Business Plan
• Ford, L. C., & Gardenier, D. (2015): Fasten your seat belts — it’s going to be a bumpy ride. The Journal for Nurse Practitioners, 11(6), 575–577.
• Kao, Y. S. (2015): Nephrology advanced practice registered nurse health policy. Nephrology Nursing Journal, 42(3), 289–93.
• Kostas-Polston, E. A., Thanavaro, J., Arvidson, C., & Taub, L. M. (2015): Advanced Practice Nursing: Shaping Health Through Policy. Journal of the American Association of Nurse Practitioners, 27(1), 11–20.

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