Current NP's: New Solo Practice Insight

[hik9258]

Is it still feasible to open your own practice (specifically family) and even grow into a multi-provider clinic where you are the sole proprietor? Or do you feel like the "big guys" such as major hospitals (be in for profit or non profit) and HMOs etc. have a monopoly against a new family clinic and its chances of developing into a multi-provider organization that turns large profits?

In short, I live in a state that requires zero physician collaboration. I'm currently in the middle of a DNP program, and my aspirations of the future are to start my own family practice clinic, and continue to grow to where I bring in other NP's/MD's/DO's etc.

I understand that something like this is dependent upon many different factors (money, the state you live in, etc.). I understand that when opening a new clinic you will be dirt poor for a while, barely scraping by. I also know threads pertaining to this exist, but I want responses to be current for today's challenges and variables.

Are aspirations like this something that is still attainable? Personal traits aside (Drive, determination, etc.) What factors do you think could possibly interfere with a goal like this?

[BostonFNP, APRN]

As a novice new-grad? It's not very feasible. Or safe.

My two cents.

[hik9258]

I agree with you, but I am more aiming this after I have some years of experience and confidence in my decision making. I know that things can and will change by then, but if it were by todays regulations and standards, how feasible is this?

[BostonFNP, APRN]

As an experienced NP, in the current status quo, if you wanted to open your own clinic and expand, it's feasible. I have a colleague that works in an independent state and has just opened her fourth franchised NP-only clinic. She is an exceptional provider and an exceptions business woman and had been very successful.

[hik9258]

From your experiences or relations, is it common for NP only practices to generate such a high patient demand for their services? As in to the point that it would be financially beneficial to bring on another provider? I know this depends on how good you are at your job, and the quality of person you hire. But in an urban environment, is demand that great?

[carachel2]

There is a Facebook group for NPs who own their own practice...you should check it out. I read their posts every now and then and :::::shudder::::. Long 12 + hour days, takes forever to get credentialing, not getting reimbursed from insurance companies for months and months, barely pulling in a 15K salary/profit for the first year. I would never in a million years want all of that for my life!