Today we'll be talking to Diane who is a Family N.P. Diane owns and operates a primary care clinic full time where she also provides wellness and additional services, she needs help with integrating additional services, including HRT, to increase her practice's revenue as well as finding ways to grow her business.

In this episode, we talk about how it is not recommended to make a quick change from accepting insurance into a cash practice, if you're looking to go that route you need to make a tapered transition that slowly takes insurance out of the picture, this movement will take you a lot of time. The best way to start taking cash in your business is to add complementary services that are paid in cash, with this hybrid model you're still being paid by insurance for services but you also have extra revenue with the cash-based products, and complementary services you'll be offering. 

Today we'll be talking to Seth who is a family N.P, currently, he's working full time at a primary care practice but only for four days a week, he wants to start his own weight loss practice, since he's already doing weight control at his current job he would like to venture out on his own. Seth comes to the show looking for help on how to organize his thoughts on the business starting process, how to manage the expenses and finances of the business and what are the most important milestones for the process. 

During this episode we talked about a very important topic that every N.P out there has to have very present in their minds, you have a very significant skillset as a Nurse Practitioner and you don't need an employer to do what you do, the sooner you realize this the sooner you'll be motivated to start your own practice where you answer to anyone but yourself, it's time to stop making somebody else money with your work and talent and start making that money for yourself, a low overhead practice where you work part-time while maintaining your main job at first it's the safest and most efficient route to start your journey toward financial independence.

Today we'll be talking to Mike, a family N.P. currently working part-time at an urgent care but mostly operating his own wellness practice where they provide weight loss and hormone replacement therapy services, the business it's around 2 years old and Mike states that it's going great but he is needing assistance with hiring additional Nurse Practitioners and automatizing processes so the business can start working for Mike and not the other way around. 

Mike is a great example that even being a new grad N.P you're capable of opening your own practice and making it very successful, if you're a new grad wanting to open a practice, just go for it!!, a low liability and low-risk business it's a great bet to take safely, as long as you work hard, work smart, and follow the Elite N.P model you'll succeed. 

Today we'll be talking to Carolyn who is a women's health N.P. currently she operates her practice where she provides women's health, HRT, functional medicine, and basic mental health services. Carolyn is looking to rebrand her practice and she needs help narrowing in the services she provides since she's providing more mental health services than she was expecting and wants to step away from that while at the same time she begins pulling away from insurance and transitioning to a cash-based practice.

During our conversation we talk about the different options an insurance-accepting practice has to transition into a cash-based one, the most important one is to take things slow, making a gradual transition will ensure you're not losing revenue suddenly, diminishing the number of insurance clients while you build up the cash accepting side of your business will keep you in balance, just taper out what you want to eliminate whether it's insurance payments or a service you provide that you don't want to do anymore so your revenue it's not impacted. 

Today we'll be talking to Nancy who is a psychiatric N.P. She's currently involved in several endeavors including writing nursing educational material, working at an outpatient ketamine clinic, and operating her own tele-psych business. Nancy is currently building her business and she needs assistance with the financial aspect of it and how to optimize her taxes.

Our enlightening conversation with Nancy is full of pearls and important knowledge for those trying to navigate the finance side of your business and your personal life by maximizing tax deductions and being generally savvy with that side of your business. You have to be smart so your business grows and starts working for you, that way you can step back from it, if you wish to, and enjoy the benefits of being financially independent thanks to your successful business. 

Today we'll be talking to Chaka, who is an adult N.P, she currently works in palliative care in a hospital setting, she's started a weight loss clinic about a year ago that provides weight loss treatments and integrative medicine. Chaka comes to the show looking for help on how to structure her business and how to set it up so it can grow easily as well as general help to go in the right direction when managing her business.

In our dive into Chaka's business, we realize that offering just one service can be very limiting, weight loss is very profitable but it's not something that will be long-term for most people, when establishing your business with the idea of growing it, you have to plan and think of offering services that will bring in recurring patients, that way you'll have a constant income stream from long term services from recurrent patients. 

Today we'll be talking to Jennifer, who is a psychiatric N.P, currently she is working at an out-patient site clinic full time, but she's looking to start her own cash based practice, she wants to start an integrative psychiatric practice where she will provide mental health services in addition to some other niche services such as weight loss, and HRT to treat underlying mental health disorders. She's needing assistance with how to set up a subscription membership plan, how to get the business up the ground and what is important to focus on during the initial stages.

An important lesson we learn in this episode is that you have to be at the right place and the right time to start a business, starting a business during a hectic period of your life when you don't have economic balance or your life organized will make things way harder for you. Being prepared economically, investing your money and having a solid job while you apply the Elite N.P model will boost your chances of a highly successful practice. When starting a business you have to sit back and think if this moment it's the ideal one to take on a challenge of this kind or if it's a better idea to put your life in order first to make things easier for yourself down the line. 

Today we'll be talking to Darin who is a practice owner, although he's not a clinical person he employs Nurse Practitioners at his hormone replacement therapy clinic, he started the clinic a few months ago but he also owns a lab work company that is tailored towards the fitness community. Darin needs help on how to market the practice to increase business volume, how to focus on his target market, logistics of refills and operating the practice, and how to scale this business as a non-clinical owner. 

On our first non-clinical practice owner episode, we touch on a few important points on how you need to be able to wear the business owner hat as well as the clinical owner, you can have a lot of expertise in the medicine niche you're practice covers but you have to be able to combine that expertise with a solid business foundation and a smart managing of all the needs on your business, you have to be able to adapt and learn on the fly.

Today we'll be talking to Nichole who is a family N.P. She's currently working full-time as an orthopedics hospitalist, Nicole started an online coaching business about a year ago and she wants to turn that into a brick-and-mortar practice where she will offer HRT and weight loss. She needs help with the logistics to transition her online practice to an actual location.

A lot of times, as was the case in this episode, sometimes all you need is a bit of confirmation, you have everything ready and have prepared to make that change or addition to your practice but you have this voice in the back of your head holding you back from going for it. 

Making good planning and researching beforehand will ensure you're actually prepared, if you're really prepared and if you researched the best way to make these changes work you don't need anyone's validation, you just have to trust your gut.

Today we'll be talking to Heather who is both a psych and family N.P. She's currently working full-time at an outpatient psych practice, on top of that she opened up her own part-time practice a few months ago where she offers general psych care and TMS, Heather comes to the show looking for help on hiring her first employee and the inner workings of having people working for you as well as how to add new services into her practice. 

From our talk we get to the point of how important it is to treat your employees well, you can't cheap out when hiring, if you offer low pay you'll receive just the bare minimum from your employee, on the other hand, if you offer a good salary and compensate your employees fairly you'll get much better work from them, pay people what they're worth and they'll help you grow your business a lot.