Solved by a verified expert :Scenario:
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).
In this scenario, what are you “worth” to the practice? Use logical
reasoning and provide evidence based rationales for your decisions. Keep in
mind that your negotiations terms and conditions must be within the legal scope
of practice for an ANP.
Scenario:
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 patients per day NP and $166,925 for the 24 patients per day NP. Further
deducting 15% of that figure to pay a physician for consultation services
leaves $88,638 in salary for the 15 patients per day NP and $141,887 in salary
for the 24 patients per day NP. Deducting 10% for employer profit leaves
$79,775 in salary for the 15 patients per day NP and $127,699 for the 24
patients per day NP (Buppert, 2011).
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.
