what am I worth? negotiating...

[NPmimzy75]

So I'm 2 years into my first job and I'm worried that I'm being taken advantage of. How do I know what I am worth, financially? I feel like I should be getting paid more.

Background:

I am an ACNP working in cardiology. I do all my billing under my physician so I have no way to really know what I am bringing in. I work both clinic and hospital, doing rounds- basically seeing all the hospital patients including admits and consults while my doc is in the cath lab all day doing procedures. It's actually my dream job, exactly what my job description would be if I wrote it myself! My only complaint is that I am frequently over 80 hours a pay period, sometimes working 12 hour days- (and it's hard to go from hourly with overtime to salary and working overtime for free) and that weekend rounding once a month has now been added to my duties. I don't mind working hard and staying until the work is done, but at what point should I expect extra compensation for what I feel is extra work.

I have no contract, which I know see is a big problem because things just keep changing on me.

Is anyone else in a similar situation? How do I figure out if I'm being compensated adequately?

Thanks!

[futureeastcoastNP]

It is up to NPs to step up and demand what they think they are worth. Too many NPs just lay back and take whatever because they are afraid to speak up. I suggest you look up average pay, find t what you're bring in, and approach your supervisor. Make sure you have your facts straight and are ready to fight for every penny.

[traumaRUs, MSN, APRN]

Where are you located? I'm in central IL in a large (17 physician, 5 mid level provider) practice. Look to your states APN organization for figures related to your locale. Also consider you are an experienced provider.

[TheOldGuy]

I feel it is a mistake to negotiate based on what the "average" pay for NPs in your area is because that serves to simply maintain the status quo - which is way too low! Besides, how do you find out what "average" really is? The data is really sketchy...There is nothing wrong with asking what you're generating in revenue and how much overhead/expenses you are contributing. The next step is to negotiate for a fair percentage of net revenue. Make an accurate assessment of your degree of independence and contribution. You're experienced - how much guidance do you require? Take into consideration other perks you are getting and assign a dollar value - but remember, those perks are probably included in the "overhead" contribution already. Since you are billing under the doc, there is no Medicare reduction - the practice is getting 100%. Think 60-80% of net revenue (after overhead contribution).

[traumaRUs, MSN, APRN]

Hmm....I network with other APNs in my area and find that all the docs do too....what we find is that the hospital or hospital-owned practices pay less and have less negotiating room. Private practices allow for more negotiation.

[Senny.ANP.FNP]

Is there a reason why not being build under your own number? Is the MD seeing the same patient as you on the same day?

[TheOldGuy]

You're right Trauma - and that's ok if you're already making a good buck as a cardiologist but not so much if you're trying to earn more as an already underpaid NP. If we just compare our earnings to each other then we will get nowhere. We need to look at revenue we generate and our net contribution to arrive at fair compensation - just my 2 cents....

[JeanettePNP, MSN, RN, NP]

Start by keeping a spreadsheet of all your billing codes each day. Then do research to find out how much insurances pay for those codes. Then you have a sense of how much revenue you are generating.