Elizabeth Jones, FNP-BC, has been an NP for 8 years. She has worked in the prima
ID: 331955 • Letter: E
Question
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 busines
Write a 2-3 page paper Business Plan that addresses the following:
Identify and explain your chosen business structure
Estimate monthly cost for establishing your own independent practice in your home state, 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
Explanation / Answer
Business Plan:
The business Hoosen structure is centralized one because the number of employees is not much as compared to the hospital. This would provide the proper line of control over the employees and the work. The command would be given by me hence, the line of control of flow of information from the higher end.
Cost Associated with the business plan is as follows:
The expenses would be calculated on the monthly basis for establishing my own independent practice in my home state, which includes following:
Clinical site expenses- $ 40,000
Employee structure and expenses- $ 50, 000- $ 60,000
Supplies- $ 40,000
Utilities and another overhead expenses- $ 30,000
Malpractice insurance- $ 35,000
Continuing education expenses- $ 50,000 - $ 60,000
Accounting fees- $ 15,000
Services identified that you will provide- The services which we provide are primary care services and patient treatment examinations.
Projected monthly income necessary to support your independent practice- This would be not less than $ 320,000 – 450,000
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