Making money in a private practice depends on how much you want to work if you want to work 20-25 hours a week to make 150k net then it might be a bit easier depending on your metrics(60-330 per patient). But if you want to make 300k-400k a year then it might be a while before you get there. Owning a practice is not always monetary and if you open a practice because you want to make a lot of money then you will fail.
Are you still of the opinion that a new grad should not start a practice. If I go to work for a large company, I can collaborate between sessions if they aren’t busy but prob not really during sessions. So, wouldn’t it be similar if I just had a paid collaborating physician? Sorry if I am overly naive, still a new grad… thanks! Love the channel!
I graduated in 2019 and went straight into private practice. However, COVID fueled my practice at that time. I also focused on specific conditions and didn’t accept SMI patients. I think you have experience working in psych as a bedside nurse, and had a great NP clinical rotation you can work independently. Get a psychiatrist who is willing to mentor you and build a network of a few Psy NPs that can help support you. Most importantly consults an attorney and accountant, and hire someone to get your policies together. There are NPs out there who offer consultation services to help with business development. The money you make is realistic to the work you put in. When you see the salaries of being employed by someone else remember you will work for every penny that you make and beyond. NPs fail in private practice because they don’t have business sense and mismanagement of money. This is a great video to teach everyone the real side of being in business.
video actually starts at 2:52. You are welcome
😂😂
Making money in a private practice depends on how much you want to work if you want to work 20-25 hours a week to make 150k net then it might be a bit easier depending on your metrics(60-330 per patient). But if you want to make 300k-400k a year then it might be a while before you get there. Owning a practice is not always monetary and if you open a practice because you want to make a lot of money then you will fail.
Yup, pretty much. I totally agree with all of what you’re saying
I really enjoyed your videos
Thank you so much for the support
Are you still of the opinion that a new grad should not start a practice. If I go to work for a large company, I can collaborate between sessions if they aren’t busy but prob not really during sessions. So, wouldn’t it be similar if I just had a paid collaborating physician? Sorry if I am overly naive, still a new grad… thanks! Love the channel!
I graduated in 2019 and went straight into private practice. However, COVID fueled my practice at that time. I also focused on specific conditions and didn’t accept SMI patients. I think you have experience working in psych as a bedside nurse, and had a great NP clinical rotation you can work independently. Get a psychiatrist who is willing to mentor you and build a network of a few Psy NPs that can help support you. Most importantly consults an attorney and accountant, and hire someone to get your policies together. There are NPs out there who offer consultation services to help with business development. The money you make is realistic to the work you put in. When you see the salaries of being employed by someone else remember you will work for every penny that you make and beyond. NPs fail in private practice because they don’t have business sense and mismanagement of money. This is a great video to teach everyone the real side of being in business.
Thank you for your hard work 🗿
What do you think about companies like Headway which do your billing for you?
How do you find more clients for your Telehealth business?
Thanks for being realistic and sharing such a valuable information!
Unable to receive a 10% on Etsy.
Ah too late😂😮