Stay ConnectedNo-Nonsense Business Advice for Entrepreneurial NPs
The Elite NP Show is a podcast for go-getter NPs who are ready to break free from traditional roles and create thriving businesses. Listen to 1:1 interviews with entrepreneurial NPs who are establishing and growing their practices, and apply these valuable insights to your own professional journey.
Copyright: © 2022 The Elite Nurse Practitioner Show
Today we'll be talking to Nicole (ACNP) and Robert (LPN), a married couple currently working full-time at a ketamine clinic and as an executive director at a senior living facility respectively. They're about to open their own business, a med spa where they'll offer IV infusion, HRT, aesthetics, and a few other services. Nicole and Robert need help with the start-up process, regulatory considerations, and a general plan for their practice's success.
In this episode, we talk about the importance of knowing the services other providers offer in your area, that way you'll know what to offer to cover the needs of your potential clients. IV infusion it's a good product to provide but we don't recommend basing your whole practice on it, instead use it as a complement to services where you'll have a bigger income investing less of your time, especially if you have little to no competition from other practice's with those services in your area.
Today we'll be talking to Jasmine a PMHN currently working part-time at an intensive outpatient center who recently started a binge-eating telemedicine practice, she has very few clients and comes to the show looking for help with telemed marketing success, scope of practice considerations, and how to navigate the process of leaving her current job and diving into her practice full time.
This episode it's full of pearls for those looking to start or grow their telemedicine practice, for starters your website is a vital part of a telemed business, it has to be straight to the point and interesting to catch your potential patient's attention, and you also have to try out and experiment with diverse marketing channels as well as good old-fashioned phone calls to potential referral sources. A telemedicine practice can be a fantastic business if you find your niche and promote it successfully.
Today we'll be talking to Jason an FNP working full-time at a reproductive health clinic who wants to venture out on his own and stop working for others, he recently started an IV hydration business that's moving slowly and Jason comes to the show looking for help on how to grow his patient volume and make his practice successful.
In this episode, we remember that some areas are not really interested in some services and that's why you shouldn't be afraid to pivot on what you provide, either by changing the services you offer or including new ones. You have to listen to the people and provide what they need, in some instances, it might be difficult to change your practice's focus if you've built it around a specific service line but changing your services to cover the needs of the area you're in will be more profitable and will allow you to grow your business, don't be afraid to pivot!.
Today we'll be talking to Nichole, a dual-certified FNP/ACNP working full time on her own practice that she started a year ago. Nichole's practice offers primary care, HRT, weight loss, and aesthetics in a medical spa-type setting within the practice. Nichole has been feeling overwhelmed in her business, with less personal time and freedom than she had even when she was an employee, and she comes to the show looking for help on how to hire another provider to offload some of the work and how to keep growing her practice successfully.
In this episode, we discuss how it's completely normal to feel bound to your business at the start of its success. When you're the single provider in your practice, taking care of a large patient volume will reduce your free time significantly.
The next logical step in this situation is to bring in a second provider that will help you offload some of the work and get some of your time back. A successful business will take a lot of your time at first, but smart hiring and delegating responsibilities will lead you to true financial independence in the long run.
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Also, be sure to share this with all your other nurse practitioner sisters and brothers. The more people who know how to break free, the better our profession will be!
PS If you have a problem in your professional life and need a one-on-one consultation with me and want to be on the show, then PLEASE email me at theelitenp@elitenp.com. This only works if I can interview and consult with YOU!
Today we'll be talking to Sarah who is both acute care and F.N.P, she's currently working part-time at a hospital in trauma and spends the other part of her time working at a regenerative medicine clinic, Sarah wants to start her own practice where she'll be providing integrative medicine services and HRT, she needs help narrowing down her focus and where to put her energy during the practice start-up process.
As the episode's name says, we practically have a telemed practice crash course, during our conversation, we touch on all of the key aspects of starting and growing a telemedicine practice like having a target demographic and a focused niche service that you want to provide as well as many other truly relevant points you have to cover to ensure success with a business in the telemed sector. The only true way to economic freedom is to have your own business and a remote medicine one it's a fantastic option.
Our guest on today's episode is Ella, an FNP currently working at a telemedicine urgent care practice full-time. Ella's in the process of starting her own practice but she's still trying to decide which services she will be providing to her patients, today we'll assist her with nailing down her service line, determining market saturation, telemedicine considerations, and general business start-up advice.
This is a great episode for those looking to start their own clinic and for those who are in the beginning stages and need reinforcement on the steps they need to follow to succeed, usually, these steps don't change and are in general the same for every business regardless of your starting point.
The Elite N.P model is designed around this easy-step philosophy and as long as you follow it closely and work hard on every stage of your business's life cycle you will succeed, it's pretty hard not to. Stop doubting yourself when it comes to starting your practice, work hard, work smart, and follow the Elite N.P model to success.
Today we'll be talking to Heather a Family N.P. who's currently working PRN at the VA but she owns and operates her own functional medicine practice predominantly. She started the practice a couple of years ago and Heather thinks it's doing well business-wise, she's needing assistance developing protocols, creating packages, and narrowing down the services she should be providing.
The most important thing we got from our conversation with Heather is that you need to focus on what you're doing when you first get started, it's ok to cast a wide net when it comes to the services you'll be providing, you need the revenue and you'll be taking advantage of all of your skills, however, as the practice grows you'll reach a point where you need to narrow your focus and stop offering a big variety of services, you have to find the service that's driving revenue at your business and that gives you satisfaction working on.
It makes no sense to provide a service that brings in good money but that you hate doing, you have to find that balance of satisfaction and revenue potential when thinking of narrowing down on what you provide to your patients, that way you'll be more focused and bring in bigger revenue while doing something that you enjoy.
Today we'll be talking to Diane who is a Family N.P. Diane owns and operates a primary care clinic full time where she also provides wellness and additional services, she needs help with integrating additional services, including HRT, to increase her practice's revenue as well as finding ways to grow her business.
In this episode, we talk about how it is not recommended to make a quick change from accepting insurance into a cash practice, if you're looking to go that route you need to make a tapered transition that slowly takes insurance out of the picture, this movement will take you a lot of time. The best way to start taking cash in your business is to add complementary services that are paid in cash, with this hybrid model you're still being paid by insurance for services but you also have extra revenue with the cash-based products, and complementary services you'll be offering.
Today we'll be talking to Seth who is a family N.P, currently, he's working full time at a primary care practice but only for four days a week, he wants to start his own weight loss practice, since he's already doing weight control at his current job he would like to venture out on his own. Seth comes to the show looking for help on how to organize his thoughts on the business starting process, how to manage the expenses and finances of the business and what are the most important milestones for the process.
During this episode we talked about a very important topic that every N.P out there has to have very present in their minds, you have a very significant skillset as a Nurse Practitioner and you don't need an employer to do what you do, the sooner you realize this the sooner you'll be motivated to start your own practice where you answer to anyone but yourself, it's time to stop making somebody else money with your work and talent and start making that money for yourself, a low overhead practice where you work part-time while maintaining your main job at first it's the safest and most efficient route to start your journey toward financial independence.
Today we'll be talking to Mike, a family N.P. currently working part-time at an urgent care but mostly operating his own wellness practice where they provide weight loss and hormone replacement therapy services, the business it's around 2 years old and Mike states that it's going great but he is needing assistance with hiring additional Nurse Practitioners and automatizing processes so the business can start working for Mike and not the other way around.
Mike is a great example that even being a new grad N.P you're capable of opening your own practice and making it very successful, if you're a new grad wanting to open a practice, just go for it!!, a low liability and low-risk business it's a great bet to take safely, as long as you work hard, work smart, and follow the Elite N.P model you'll succeed.
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