Creating a Practice Model A Few of the

Creating a Practice Model: A Few of the Many Paths Panel Members: Moderator: Wendy L. Wright, MS, RN, APRN, FNP, FAAN, FNP Sharon Katz, MSN, FPMH-APRN, CRNP Mike Lawler, CMX, BS, FNP, EMBA

Objectives n Upon completion of this educational initiative, the participant will be able to: q Identify steps essential to business owners (30 minutes) q Identify pathways for business sustainability (15 minutes) q Review lessons learned and mistakes made in business ownership (30 minutes) Wright, Katz, and Lawler, 2017

Introduction: WENDY L. WRIGHT & ASSOCIATES FAMILY HEALTHCARE @AMHERST AND @ CONCORD Wright, Katz, and Lawler, 2017

Introduction: SHARON KATZ, FPMH-APRN, CRNP COLLABORATIVE PSYCHIATRIC ASSOCIATES: 4 PSYCHIATRIC MENTAL OUTPATIENT OFFICES & COLLABORATIVE CARE MODEL IN PRIMARY CARE MONTGOMERY COUNTY, PA Wright, Katz, and Lawler, 2017

Introduction: MICHAEL LAWLER KYNAMICS CONSULTING PARTNERS, LLC Wright, Katz, and Lawler, 2017

Objective 1: n Identify steps essential to business ownership q Discussion by panel Wright, Katz, and Lawler, 2017

INVESTIGATE n n n Your state laws for nursing. Do not make assumptions based on others State and county health initiatives and needs Regulations needed for credentialing: q q q Nurse practitioner As a nurse owned business Solo, group, private, clinic, nursing home, telehealth, mobile or community.

BUSINESS PLANNING FOR APRN PRACTICE n n n n How does your vision match with health care needs? Who do you need to partner or key colleagues to develop your practice? What structure or model do you envision? Mission statement Assessment of community need State/CMS laws and regulations Define funding and reimbursement projections

Objective 2: n Identify pathways for business sustainability q Discussion by panel Wright, Katz, and Lawler, 2017

BUSINESS MANAGEMENT n Financial management: q q q n Develop job description, expectations work flow and pay scale Depositing and management of cash? Develop documentation of receivables Develop team with accountability to Accountant. Book keeper? Billing q q Codes and documentation Review EOB’s Management of rejections in timely manner Never bill for clinicians not on panels. Watch credentialing

Objective 3: n Review lessons learned and mistakes made in business ownership q Discussion by panel Wright, Katz, and Lawler, 2017

Partnership? n Is a partnership a good choice or obstacle? q q Financial benefit and risk Buy in and loan backing Joint decision making Like marriage, a committed relationship with contract and expectations Wright, Katz, and Lawler, 2017

Thank You! We Would Be Happy To Entertain Any Questions

Contact information for panel: Wendy L. Wright Wendy. ARNP@aol. com Michael Lawler Mjlcrnp@yahoo. com Cell: 717 -350 -1927 Sharon Katz cpsych 99@aol. com Cell: 215 -806 -7223