Long time experience RN w/new NP license ready for NP role-enough financial benefit

Specialties NP

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I know many nurses who has been an RN for a long time (10-20yrs) who finished NP program and tried to get a job as an NP but pay wise is not much to what they are already making! Does anyone had this problem. If they were to take their new role and go else where than they lose their benefits such as pension, etc. Many that I know who can venture out is the younger NP who is "nothing to lose." Another question I have is what is the average number of patients do you see to be productive and bringing money to the practice.

Any comments would help:p

Thanks Sammy for that infor regarding the new NP salaries! Do they include benefits? If so its not so bad as I thought. Maybe the other recent grads just havent been looking as hard.

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Specializes in Nephrology, Cardiology, ER, ICU.

Its certainly not that the new APNs aren't looking - in my area (central IL) I personally know of 6 new APNs (either NP or CNS) that are extremely well-qualified, conscientious people who don't have APN positions.

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In many areas it is difficult to find a position for even well respected NP's -while in other markets it is easy for new NP's to get jobs- It is all about your market. NOT how hard you may or may not be looking.

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Specializes in Psychiatric NP.

TraumaRUS,

my gosh! what geographical area are you working in? I'm going to make a mental note not to move there! sounds incredibly difficult to find a job!

My reply to the thread:

I'm an NP student in Texas, haven't graduated yet, but I've heard that the money ranges around 80-100K starting. Of course you are salaried employee so if you make the higher range, they probably have you working a lot and you may be there until 8PM five days a week.

But there is a shortage here and recent grads tell me they have no trouble finding a job.

In my Advanced Practice Roles course we actually have to do this mini project where we calculate how much we are worth to the employer based on how many patients we see and the typical ICD9 and E&M codes. I based my calculations on how many patients the MD I'm working with usually sees and then subtract overhead costs and how much the employer makes off of us. But with a really rough estimate, I got our net worth to be around $100K(using number from family practice). So we are worth a lot! just physicians either don't realize it or they want to make a lot more off of us! DON'T SETTLE FOR LESS THAN YOU'RE WORTH!! We definitely are not cheap labor and shouldn't be treated that way.

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Specializes in Psychiatric NP.

Here are the numbers I used. They are very rough estimates, but you can kinda replace my numbers with yours and calculate your own worth if you can figure out from the front desk people or from billing how much each icd9 & E&M are worth. (My numbers are from a combo of family and internal medicine)

- I will be able to see about 35-40 patients a day

- Charge for services:

Typical E&M codes- 99203, 99213, 99214

- Insurance reimbursement for services: Charge per visit $120, insurance usually only reimburses about $85-$90 per visit

- Conservative overhead costs will be about 60% of earnings.

So if I see 40 patients per day X $85= 3400/day.

3400x5=17000.

17000x46wks=$782,000 annually

If I contribute 60% of earnings to overhead(typical overhead is 40-60%): 782,000-469,200= $312,800

- I will use 30% for employer earnings: 312,800-93840=$218,960 (employer earnings! They make a lot of us!)

- subtract 30% for annual benefits: 228,960-93840=$125,120

subtract continuing education/IT materials/miscelanneous: $5,000

- Take home: $110,000-$120,000

But I'll say 100K just in case I overestimated some things.:redpinkhe

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Specializes in Psychiatric NP.

DrFitness,

In most programs in Texas, NPs are required to have at least a year of experience, but there are some programs which will take you right out of undergraduate nursing school. I think that is a bad idea and from what I have seen, those students do not do well in grad school. I only had 2 years of RN experience before starting the NP program and I sometimes find myself at a disadvantage. But at the same time, I'm glad that I'm starting earlier cause there is so much more on this side to learn!

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Do employers count your RN experience as years of experience? Does anyone know what I can expect to make as NP new grad with 5 years nursing experience?

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Do employers count your RN experience as years of experience? Does anyone know what I can expect to make as NP new grad with 5 years nursing experience?

No, they do NOT count RN experience. What will count is how much money you bring into the practice no matter HOW much NP experience you have!

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Specializes in Nephrology, Cardiology, ER, ICU.

What did count was my nursing experience but not for pay rather experiences.

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Specializes in ACNP-BC, Adult Critical Care, Cardiology.
Do employers count your RN experience as years of experience? Does anyone know what I can expect to make as NP new grad with 5 years nursing experience?

I've worked in three different places but only in hospital-based practice as an ACNP. My employer has always been a hospital, I've never worked in a private practice. The first two hospitals did not factor in RN experience in determining my salary, only years of experience as an NP. My current job is at a university hospital and salary is based on total years of nursing experience including RN.

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Here are the numbers I used. They are very rough estimates, but you can kinda replace my numbers with yours and calculate your own worth if you can figure out from the front desk people or from billing how much each icd9 & E&M are worth. (My numbers are from a combo of family and internal medicine)

-I will be able to see about 35-40 patients a day

-Charge for services:

Typical E&M codes- 99203, 99213, 99214

-Insurance reimbursement for services: Charge per visit $120, insurance usually only reimburses about $85-$90 per visit

-Conservative overhead costs will be about 60% of earnings.

So if I see 40 patients per day X $85= 3400/day.

3400x5=17000.

17000x46wks=$782,000 annually

If I contribute 60% of earnings to overhead(typical overhead is 40-60%): 782,000-469,200= $312,800

-I will use 30% for employer earnings: 312,800-93840=$218,960 (employer earnings! They make a lot of us!)

- subtract 30% for annual benefits: 228,960-93840=$125,120

subtract continuing education/IT materials/miscelanneous: $5,000

-Take home: $110,000-$120,000

But I'll say 100K just in case I overestimated some things.:redpinkhe

I don't see how a person could safely see more than 25 patients a day. You could probably herd them through like a bunch of cows but I don't think you would be giving adequate care. But this is just my personal opinion! (of course, it is also my personal opinion, that I, myself, as a new NP grad could not see more than 10 pts. safely a day!)

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I don't see how a person could safely see more than 25 patients a day. You could probably herd them through like a bunch of cows but I don't think you would be giving adequate care. But this is just my personal opinion! (of course, it is also my personal opinion, that I, myself, as a new NP grad could not see more than 10 pts. safely a day!)

A PA I know saw 104 patients in 12 hours last week. This was in urgent care.

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