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Creating a Successful APRN Practice: Essential Steps, Pathways, and Lessons

Join this panel discussion to learn the essential steps for business owners, pathways for sustainability, and valuable lessons from experienced APRN practitioners. Gain insights into business planning, financial management, and partnership considerations for a successful practice.

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Creating a Successful APRN Practice: Essential Steps, Pathways, and Lessons

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  1. Creating a Practice Model:A Few of the Many Paths Panel Members: Moderator: Wendy L. Wright, MS, RN, APRN, FNP, FAANP, FAAN, FNP Sharon Katz, MSN, FPMH-APRN, CRNP Mike Lawler,CMX, BS, FNP, EMBA

  2. Objectives • Upon completion of this educational initiative, the participant will be able to: • Identify steps essential to business owners (30 minutes) • Identify pathways for business sustainability (15 minutes) • Review lessons learned and mistakes made in business ownership (30 minutes) Wright, Katz, and Lawler, 2017

  3. Introduction: Wendy L. WrightWright & Associates Family Healthcare@Amherst and @ Concord Wright, Katz, and Lawler, 2017

  4. Sharon Katz, FPMH-APRN, CRNPCollaborative Psychiatric Associates:4 Psychiatric mental outpatient offices & Collaborative Care model in primary care Montgomery County, PA Introduction: Wright, Katz, and Lawler, 2017

  5. Introduction: MICHAEL lAWLERKynamics Consulting Partners, LLC Wright, Katz, and Lawler, 2017

  6. Objective 1: • Identify steps essential to business ownership • Discussion by panel Wright, Katz, and Lawler, 2017

  7. INVESTIGATE • Your state laws for nursing. Do not make assumptions based on others • State and county health initiatives and needs • Regulations needed for credentialing: • Nurse practitioner • As a nurse owned business • Solo, group, private, clinic, nursing home, tele-health, mobile or community.

  8. BUSINESS PLANNING FOR APRN PRACTICE • How does your vision match with health care needs? • Who do you need to partner or key colleagues to develop your practice? • What structure or model do you envision? • Mission statement • Assessment of community need • State/CMS laws and regulations • Define funding and reimbursement projections

  9. Objective 2: • Identify pathways for business sustainability • Discussion by panel Wright, Katz, and Lawler, 2017

  10. BUSINESS MANAGEMENT • Financial management: • Develop job description, expectations work flow and pay scale • Depositing and management of cash? Develop documentation of receivables • Develop team with accountability to Accountant. Book keeper? • Billing • Codes and documentation • Review EOB’s • Management of rejections in timely manner • Never bill for clinicians not on panels. Watch credentialing

  11. Objective 3: • Review lessons learned and mistakes made in business ownership • Discussion by panel Wright, Katz, and Lawler, 2017

  12. Partnership? • Is a partnership a good choice or obstacle? • Financial benefit and risk • Buy in and loan backing • Joint decision making • Like marriage, a committed relationship with contract and expectations Wright, Katz, and Lawler, 2017

  13. Thank You!We Would Be Happy To Entertain Any Questions

  14. Contact information for panel:Wendy L. WrightWendyARNP@aol.comMichael LawlerMjlcrnp@yahoo.comCell: 717-350-1927Sharon Katzcpsych99@aol.comCell: 215-806-7223

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