Self Employed

Even if you are not a person of faith, I wish you God's blessings and much success with your plans to start your own business. It is so very rare that I encounter other NPs who are even thinking in this direction. It is one of the best decisions you will ever make. I recently started myself. The freedom...the potential...

First thing - don't talk yourself out of doing it. Second thing - don't let other people talk you out of doing it. Expect that a lot of envious and ill-wishing people will try to discourage you. Ignore them.

Everything depends on which state you plan to practice in. The laws vary considerably. It is best if you don't plan on doing this in an anti-NP state that puts many unnecessary restrictions on NP practice (if you live in one of those, move). This is not the same as requiring physician collaboration. Even in states that don't require physician collaboration you will find that you still benefit from a collaboration arrangement for a number of reasons.

Start with a resource guide like Carolyn Buppert's book on NP business practice and legal stuff. She gives very good advice on how to make up a simple business plan to do exactly what you are thinking about. Invest the needed time to do research and to write up your business/marketing plan. Look for inexpensive office space that is off the beaten path but easy for people to find, and preferably one in which the landlord is willing to include buildout at no additional cost to you. You can set up the place very simply and inexpensively and it still looks good. Since you're doing psych you won't need to buy or lease expensive equipment for diagnostics or procedures. Budget for a full-time office assistant and a part-time mental health counselor.

Thanks for the guidance. I will definitely look into Carolyn Buppert's book.