Nurse Practitioners are pretty excited at the aspect of having their own practice in that’s true more so today than ever before especially since more states are opening up to full practice authority.
Sometimes what happens though, Is in our excitement we tend to rush into things. And this is where we run into trouble. So on today’s podcast I’d like to go over some of the most common mistakes that I see with clinicians starting up their own practice.
Mistakes to Avoid
- Unseasoned clinicians starting a practice.
- Not having a clear picture of what you are doing, what you are offering.
- Ignoring both practice and business rules and regulations.
- Failure to fully understand scope of practice.
- Misinformation about FPA and practicing across state lines.
- Collaboration – understanding what it is and why as well as the rules in your state. Also, not having a written agreement and more than one CP, is a big mistakes.
- Thinking you don’t need a business plan.
- Financial illiteracy – not understanding the finances – cost, resources, revenues, statements and more.
- Waiting to market the practice.
- Not starting your credentialing early enough
Find the show notes at https://npbusiness.org/are-you-making-these-common-mistakes/
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