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

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

Business Plan Development

Nurse Practitioner’s Business Plan Development – Elizabeth Jones, FNP-BC, has been an NP for 8 years. She has worked in the primary care setting, as well as the urgent care setting. She is considering relocating to a state that allows for unrestricted independent practice and opening her own primary care clinic. There are multiple benefits to owning an independent practice. However, owning a practice requires extensive knowledge and support. For an NP to establish independent practice, an appropriate plan must be developed. For this Assignment, you will create a Business Plan for your potential future business.

Write a 2-3 page paper Business Plan that addresses the following:

• Identify and explain your chosen business structure (owning a private practice)

Estimate monthly cost for establishing your own independent practice in Texas, including:

• Clinical site expenses
• Employee structure and expenses
• Supplies
• Utilities and other overhead expenses
• Malpractice insurance
• Continuing education expenses
• Accounting fees
• Services identified that you will provide (e.g., primary care services, drug screens, DOT exams)
• Projected monthly income necessary to support your independent practice

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References
American Association of Nurse Practitioners (2016). State Practice Environment. Retrieved from https://www.aanp.org/legislation-regulation/state-…

Buppert, C. (2018). Nurse practitioner’s business practice and legal guide (6th ed.). Sudbury, MA: Bartlett & Jones Learning.

• Appendix 11-A: A Checklist for Setting Up a Practice (pp. 383-394)
• Appendix 11-C: Sample NP Business Plan (pp. 400-412)
• Chapter 11, “Practice Ownership: Legal and Business Considerations for the Nurse Practitioner Owner” (pp. 353- 381)

Buppert, C. (2015). Appendix 11-C: Sample NP Business Plan. In Nurse Practitioner’s Business Practice and Legal Guide (5th ed.). (402-416). Burlington, MA: Jones & Bartlett.

Buppert, C. (2015). Practice Ownership: Legal and Business Considerations for the Nurse Practitioner Owner. In Nurse Practitioner’s Business Practice and Legal Guide (5th ed.). (315-383). Burlington, MA: Jones & Bartlett.

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: Where are we? What is our future? Nephology 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. doi:10.1002/2327-6924.12192

NURS 6565 Practicum Journal Wk 10

Each week you will complete a Practicum Journal entry and Time Log that prompts you to reflect on and document your Practicum Experiences.

Practicum Journal

Continue documenting your Practicum Experiences in your Practicum Journal. Reflect on your practicum experiences and relate them to your Professional Goals and Self-Assessment of Clinical Skills that you identified in Week 1.

Follow journal entry format and choose any illness or patient…..

E.g

Reflect on a patient who presented with a disease. Describe key signs and symptoms that were consistent with this disease. If you diagnosed the patient with the disease, describe your experience in telling the patient that she had the disease, as well as the patient’s reaction to the diagnosis. Explain how the diagnosis might impact the patient’s life short-term and long-term. Include an explanation of the patient’s medical history, drug therapy and treatments, and follow-up care. If you did not have an opportunity to evaluate a patient with this background during the last four weeks, you may select a related case study from a reputable source or reflect on previous clinical experiences.

NURS 6565: Synthesis in Advanced Practice Care of Complex Patients in Primary Care Settings

Cover Letter, Resume, and Portfolio Assignment Guide

Your professional cover letter, resume, and portfolio are due by Day 7 of Week 10. It is highly recommended that you begin planning and working on this Assignment as soon as it is viable. The following checklists outline all of the items you should include in your cover letter, resume, and portfolio. Additionally, the resources below have been provided to assist you in developing your professional cover letter, resume, and portfolio.

Also, refer to the Walden University Career Center website for resources and develop your cover letter and resume with the assistance of the Walden University Career Center website for resources and make your cover letter, resume, and portfolio accessible online to your faculty and potential employers.

Checklist for Cover Letter (S/U grade)

Your Cover Letter should be:

• Presented and formatted in professional business manner • Addressed properly • Clear and concise and include:

o Content Introduction o Content Body o Content Conclusion

• Written in a professional style and include: o Correct spelling, punctuation, and grammar o Clear and accurate sentence structure

Checklist for Resume (S/U)

• Your Resume should be clear, concise and well-organized and it should also include your: • Name, address, business phone number, and email address (top center of resume) • Profile: 2-3 sentences describing goal and positive attributes/characteristics • Certifications & Licensure • Education • Professional Experience • Honors/Awards • References

© 2016 Laureate Education, Inc. 2 of 3

Checklist for Portfolio (S/U)

• Your Portfolio should be clear, concise and well-organized and it should also include your: • Personal Philosophy Statement • Self-Assessment • Personal goals (short term and long term) • Achievements • Cover Letter • Resume • Diplomas for formal education • Letters of Recommendation  References (list names, affiliation and contact

information) • Certifications • Certificates of attendance for continuing education • Transcripts (Note: You do NOT need to submit an official transcript. Including an

unofficial transcript will meet this requirement.) • Publications • Oral Presentations and/or Poster Presentations

Learning Resources

Resume, Portfolio, and Cover Letter Resources:

• Cover Letter Advice (n.d.). Nurse practitioner cover letter sample 1. Retrieved from http://www.coverletter.us/nurse-practitioner-cover-letter/

• Dahring, R. (2013). Cover letter caveats. Retrieved from http://nurse-practitioners-and- physician-assistants.advanceweb.com/Columns/Career-Coach/Cover-Letter-Caveats.aspx

• NP Career Coach (n.d.). NP career coach resume tip sheet. Retrieved from http://www.nursepractitionerjobsearch.com/nurse-practitioner-resume-tips.pdf

• Porche, D. J. & Danna, D. (2015). Cover letter & resume preparation: Every detail is important when applying for a job. Advance healthcare network for NPs & PAs. Retrieved from http://nurse-practitioners-and-physician- assistants.advanceweb.com/Features/Articles/Cover-Letter-Resume-Preparation.aspx

• Walden University Career Services (n.d.). Resumes & CVs: Home Retrieved from

http://academicguides.waldenu.edu/careerservices/resumesandcvs

Portfolio Resources:

http://www.coverletter.us/nurse-practitioner-cover-letter/
http://nurse-practitioners-and-physician-assistants.advanceweb.com/Columns/Career-Coach/Cover-Letter-Caveats.aspx
http://nurse-practitioners-and-physician-assistants.advanceweb.com/Columns/Career-Coach/Cover-Letter-Caveats.aspx
http://www.nursepractitionerjobsearch.com/nurse-practitioner-resume-tips.pdf
http://nurse-practitioners-and-physician-assistants.advanceweb.com/Features/Articles/Cover-Letter-Resume-Preparation.aspx
http://nurse-practitioners-and-physician-assistants.advanceweb.com/Features/Articles/Cover-Letter-Resume-Preparation.aspx
http://academicguides.waldenu.edu/careerservices/resumesandcvs

© 2016 Laureate Education, Inc. 3 of 3

• Dennison, R. D. (2007). What goes into your professional portfolio and what you’ll get out of it: Advance your nursing career with a professional portfolio. American Nurse Today 2(1). Retrieved from http://www.americannursetoday.com/assets/0/434/436/440/4352/4354/4368/4376/1b04d64f- 8cb0-4af6-adb6-7e3474d2603d.pdf

• Ferrara, S. (2013, October 31). Professional portfolio – A must have for NP students. [Blog message]. Retrieved from http://onlinenursepractitionerprograms.com/2013/professional- portfolio-a-must-have-for-np-students/

• Hayes, E., Chandler, G., Merriam, D., & King, M. C. (2002). The master’s portfolio: Validating a career in advanced practice nursing. Journal of the American Academy of Nurse Practitioners, 14(3), 119.

• Walden University Career Services (2015). Quick start: Getting started with Optimal 2015. Retrieved from https://youtu.be/Ir-B4MCuAvU

• Walden University Career Services (2015). Quick start: Getting started with Optimal

Resume: Presentation slides. Retrieved from http://academicguides.waldenu.edu/ld.php?content_id=10634421

• Walden University Career Services (2015). Getting started with Optimal Resume: Tutorial.

Retrieved from http://academicguides.waldenu.edu/ld.php?content_id=10634430 • Walden University Career Services (2015). Getting started with Optimal Resume: Transcript.

Retrieved from http://academicguides.waldenu.edu/ld.php?content_id=10634440

• Weber, S. (2006). Developing nurse practitioner student portfolios. Journal of the American Academy of Nurse Practitioners, 18(7), 301-302. doi:10.1111/j.1745-7599.2006.00134.x