Like any field, networking is a crucial tool for financial and professional success. But professional networking involves much more than just meeting people and exchanging business cards in hopes of landing your next role. When done strategically, the meaningful connections you forge through networking can propel your NP career to new heights. The Benefits of Networking for NPs Growing your professional network as a nurse practitioner can yield benefits like: Uncovering “hidden” job opportunities that may never be publicly posted, since many healthcare organizations prioritize referrals when ..read more

What is money dysmorphia? Despite how much money you make or have saved, do you still feel like it’s simply not enough? According to a report by Credit Karma, 29% of Americans show signs of “money dysmorphia”— a new term used to describe a distorted perception of one’s personal finances. Think of it like body dysmorphia: sufferers may have persistent feelings of inadequacy or self-consciousness based upon warped comparisons to other people’s situations. Instead of an obsession with beauty, those with money dysmorphia are hyper-focused on finances.   What are the biggest causes of mon ..read more

Every provider in this country has a National Provider Identifier (NPI). This is a unique identification number for covered health care providers. According to CMS, it was created to improve the efficiency and effectiveness of electronic transmission of health information, to assist with the efficient coordination of benefits transactions, and to keep electronic transmission of HIPAA. You must have an NPI number if you want to practice in this country, regardless if you accept cash or insurance. Why do you need an NPI number? A medical provider cannot issue prescriptions, order labs, acquire s ..read more

Many nurse practitioners that consider opening a business believe they have to accept insurance to create a successful practice. Providers and patients are led to believe that insurance is a requirement to receive quality health care in this country. However, it is feasible to create and maintain a thriving medical practice on cash payment alone. Cash payment vs. insurance payment Insurance premiums and deductibles continue to rise year after year. Many people have annual deductibles ranging from $2,500 up to $10,000. Most are healthy individuals who will likely never pay their deductible full ..read more

If you want to become financially independent as a nurse practitioner, you need to understand how to build wealth. Your job as an employee NP will help you earn some cash, but a yearly salary may not be enough to accumulate significant capital. Instead, you need to focus on strategies that will likely build wealth. Why investments may not be enough Your investments will probably not make you rich. Very few people become rich off their 401k, IRA, rental properties or off a lucky spike in a risky stock. Investments should be used to safeguard your money and help it grow slowly so it can keep up ..read more

As a nurse practitioner running a private practice, attracting a steady stream of patients is essential for the success of your business. In today’s competitive healthcare landscape, word-of-mouth referrals or traditional marketing methods may not be enough to build a thriving business.  To stand out and draw in new patients, it’s important to utilize strategic marketing techniques that showcase your expertise, build trust, and promote visibility. Here are the most effective ways to market your nurse practitioner private practice.   Establish a Strong Online Presence In the digi ..read more

Nurse practitioners must create a separate legal entity before operating their own practice. An LLC may be the best option for nurse practitioners due to its simplicity and flexibility. An LLC is a pass-through entity. This means that practices profits are passed onto the owner’s personal income tax return. This makes the LLC simple for accounting purposes and is a great way to lower your tax obligations. This comprehensive guide provides NPs with a foolproof LLC establishment process, and ways to take advantage of an LLC’s many perks. Starting a nurse practitioner LLC So how does a business i ..read more

Jenni Gallagher, APRN People are prioritizing healthy eating now more than ever, with many dieters looking to social media influencers for nutritional advice. Iodine and iodized salts are the newest foods now demonized by unqualified health coaches, which has triggered detrimental health effects for those with diverse medical needs. Some pop-practitioners recommend replacing iodized salt with “natural” alternatives like rock salts or Himalayan pink salts. This may create significant nutritional gaps, with the potential to cause hypothyroidism. Here, we break down the myths and facts about diet ..read more

As a nurse practitioner (NP) operating an independent practice, it’s important to consistently attract new patients and keep current ones engaged. While social media and paid advertising may be part of your marketing strategy, email remains one of the most powerful tools to build relationships and drive business growth.  According to industry research, email marketing delivers an impressive return on investment, with businesses earning an average of $36 for every $1 spent. So, how can you harness the power of email to grow your NP practice in 2024? Here are some key strategies to consider ..read more

Many nurse practitioners believe that starting a practice is expensive. This can discourage providers from establishing themselves as an independent business owner, preventing them from achieving financial freedom and prosperity. Read on to learn how much it truly costs to open a side business as a nurse practitioner, the affordable way. Choosing how much capital to invest in your side practice If a nurse practitioner were to dump $30,000+ into a startup practice which later fails, closing can be financially devastating. On the other hand, if an NP starts a small practice for $5,000 that event ..read more