Private Practice as PMHNP

[SlyFoxRN, BSN, RN]

Hey everyone,

Sorry for asking two questions at once - I'm new and have lots of questions! Just wondering if any PMHNP's have opened their own private practice? It's something I'm very interested in (mental health) but would eventually want to either open my own office or work in an office with other mental health NP's/MD's. What are the challenges associated with it? Is the income steady? What is the average income vs working in a hospital or clinic. Is it hard to find a position working in an established mental health office vs just opening you own? When working with other MD's, are you paid a salary or can you work in an ownership-type model where you get either a share of the entire proceeds or the entire profit from the clients you see?

Thanks for any info!

[rich2008]

I think part of it depends on what state you are in and what the rules are about NP independence. I know a guy who was working in a community health clinic and he started his own practice. He finds the billing to be time consuming as he didnt have to deal with that before. However, he was able to start his own practice after finding a MD to be his "supervising" MD. Its mostly just on paper but I think he has to pay the MD. He started out two days in private practice and within three months he is full time solo.

[SlyFoxRN, BSN, RN]

Do you know if he is clearing a good amount after all the expenses? Is the extra income worth the extra headache?

[rich2008]

He seems to be doing fine in terms of $$. He said initially there were more hassles. He was able to keep doing part time at his former place until his practice could support him, his wife, and two kids. His wife just quit her job and is heloing with billing. He is glad he did it. There are good and bad to every situation but this is working out great for him. He doesnt have to put up with the BS of someone else.

[SlyFoxRN, BSN, RN]

Hm...do you know how he approached the MD? Just cold calling?