Reimbursement for Psych NP independent contractor in private practice (Seattle area)

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Hi All,

I have a tentative job offer as a soon-to-graduate PMHNP at a large private practice (24 therapists/NPs) owned by an MSW in Seattle. It is an independent contractor position, and they would take care of all admin tasks including credentialing for a flat 30% rate of billing plus a monthly fee for rent. Other NPs in the practice bill over 300,000 a year, making the cut for the practice almost 100k per year. Does that seem excessive? I understand they will put in a lot of work to help me establish my practice, but once I am, should I negotiate for a lower rate? I have a similar offer at a practice in Minnesota for 20%, but their projected billings are much lower. Many thanks for any advice!

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Specializes in Family Nurse Practitioner.

I don't have experience in this area as I have always billed the group directly for my time either via hourly rate or encounter but it will be interesting to see what others say. I would urge anyone who is considering a job based on productivity to talk to others in the practice to get a realistic idea of what is actually possible. For some reasons estimated income never seems to run in the range of a conservative estimate. Just in general I also prefer to work under a medical administration rather than social workers but for some reason that isn't as common.

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Thanks, Jules A! I will definitely speak with NPs in the practice before making a decision. It will be interesting to see if others respond!

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Specializes in Psychiatry and Primary Care.

I am not sure about the market in WA for PMHNP. Based on national averages, the "billing" seems excessive for a NP. Most solo practitioners bill around $150K/year and, that has absolutely nothing to do with the reimbursement rate which could be 65-70% of that, depending on the network contracts. If on top of that you have to share 30% + rent, I'm not sure it is a deal any longer. You should consider researching that very carefully before you agree. The credentialing is not a big issue just a matter of time consuming paperwork.

Psych NP's are in high demand so you could get a job anywhere, basically. I can have your student loans paid off (if you have any), if you come work for us!!! How about that?

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