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Discussion

Own my own Practice

Hi everyone,

I was interested in becoming a FNP but my ultimate goal is to have my own practice. Is there anyone pursuing their own practice. If so, can you give me any tips, anything you wish you could differently? I have a long time before I get to that point... very long so I'm just preparing myself before I get to that point.

All comments welcomed!!! :up::down:

Thank You:D

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  • Experts

First - it depends on the state where you live - few states allow independent practice. That might be a good starting point.

  • Experts
First - it depends on the state where you live - few states allow independent practice. That might be a good starting point.

Actually very few states prohibit a PA or NP owned practice. The trick is in structuring the practice correctly. Each state has very specific rules about the type of corporation and how physician input is contracted.

David Carpenter, PA-C

  • Experts

I stand corrected David. The intent of my mis-statement was not that you can't OWN your own practice but rather that INDEPENDENT practice is based on your state's practice act. Thanks.

  • Experts

Plenty of NPs own their own practices, and hire/contract a physician to provide the required supervision.

  • Experts
I stand corrected David. The intent of my mis-statement was not that you can't OWN your own practice but rather that INDEPENDENT practice is based on your state's practice act. Thanks.

I was at a talk at the AAPA convention on PA owned practices. There were about 150 people there and around 100 of them already owned practices. The talk was on the legal structure for practices. There was another talk on business aspects. There are a lot of rural FP PA owned practices, but urgent care seems to be pretty common also. I think that the PA world underestimates the number of PA owned practices (as opposed to PAs who are independent contractors).

David Carpenter, PA-C

There are LOTS of NPs around the country that own their own practices. Rules and regs will vary from state to state. For example, in CA you cannot "own" the majority of your practice, it must be 51% physician owned. I'm in WA and own my practice without any physician ties.

In states where you must have collaboration, NPs are able to "hire" a physician as a collaborator or consultant...again, it will vary with your state.

If you search Nurse Practitioners and Business or Nurse Practitioners and Independnt or Private Pratice, you'll find resources that may help you. There are also a few books at Amazon...Carolyn Buppert is great for legal issues to consider, and Carolyn Zaumeyer wrote on Independent Practice. I have a blog on NPs in business as well.

Best wishes to you!

BarbaraNP

For example, in CA you cannot "own" the majority of your practice, it must be 51% physician owned.

I've been trying to find that rule for the last six months. Do you know where I can find that rule about NP-owned clinics? I know it exists somewhere but can't find. I've searched the entire NPA and couldn't find anything. The closest I've come is finding the reg that states that PA's can only own 49% or less of a clinic.

Thanks

  • Experts
I've been trying to find that rule for the last six months. Do you know where I can find that rule about NP-owned clinics? I know it exists somewhere but can't find. I've searched the entire NPA and couldn't find anything. The closest I've come is finding the reg that states that PA's can only own 49% or less of a clinic.

Thanks

Actually the rule is that the same type of practitioner has to own 51% of the practice. So if a physician is in the ownership then they have to own at least 51% of the practice. A PA owned practice can be 100% PA owned but if there is physician involvement then the PAs (collectively) have to own 51%. I went to a lecture last week on PA ownership and this was discussed. I'll try to find the source when I get home. Also there is some stuff in the legislature currently that will change all this related to the corporate practice of medicine.

David Carpenter, PA-C

Look in the search on this site for "K.C. Arnold"....she has her own diabetes practice--and has info on how she did that....

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