Incentive bonus for nurse practitioner

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Specializes in FNP.

I'm starting work at a concierge practice and we're trying to figure out a bonus structure beyond the base salary. The patients pay a monthly fee for unlimited services so a productivity bonus is out. We're considering a new patient bonus, but my boss is proposing bonuses for new patients after the profit from new patients exceeds my current salary. This doesn't take into account the work I do for the current patients. A quality bonus would be arbitrary, but would this be the best way to go about it?

Any feedback would be great, even if you don't work concierge, as I know those aren't common.

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Patient satisfaction scores would be a good baseline for incentives. Your model of care depends upon happy patients paying $$$$ to see you. The happier they are, the more likely they are to come back and the more $$$ your MD makes etc.

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Specializes in FNP.

So scores based on patient satisfaction surveys? What if my boss just wants to keep things simple and doesn't want to do surveys? Is there any other way to measure patient satisfaction scores?

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We keep it simple where I've practice. They have a score based from 0 to 10 with ten being 100% happy. Just one little document to circle. The more 10s you have the better.

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Specializes in Primary care.

Why does the fact that patients have paid for unlimited access preclude a productivity metric? They need to be seen and if you don’t someone else will have to I imagine?

Are you involved in advertising/recruiting patients? If not how does your work influence number of new patients?

What about quality measures? Either disease control or some kind of performance metric that you aren’t dependent on someone else for (e.g percentage of patient calls returned in same business day). Satisfaction could be option too but I imagine in a concierge model that will have to stay high or things will fall apart quickly.

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Specializes in Psychiatric and Mental Health NP (PMHNP).

Here's simple - an outpatient specialty doctor offered me a job and said bonuses are a crock and a pain to administer, so he just pays very well. Problem solved. He offered me $150K to start and $160K the 2nd year. I have less than 2 years experience.

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@maywah21 wanted to see an update on how you like working in a concierge practice?

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Specializes in FNP.

I love it! I have an easy paced schedule where instead of seeing one patient every 15 min, it’s 30 min and instead of a physical in 30 min, I get 1 hour. I average 1-6 patients in a 5 hour period so I have time to follow up with patients I’ve already seen and look up anything to refresh my practice. The only negative is that I am reachable by text and email at any time, whereas in my old practice, I was never “on-call.” I barely get these though as of yet; my boss unfortunately for her still gets most of these.

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@maywah21 That's great to hear! How did you get into that field and do you mind me asking you what state you work in? I'm interested in getting into the conicerge medical model but I live on Long Island, not many out by me more in Manhattan.

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Specializes in FNP.

I actually happened upon it by blindly sending out resumes to all medical practices near Allen, TX to see where would bite. I previously worked at NYU ambulatory care offices and I love this change of pace. At NYU, they really tried to cram as many patients as they could onto our schedule. Here, I average 1-5 patients in a 5 hour period! The only negative as I was never really on-call is that I’m accessible by email/text off-hours.

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