- How do I know when/if I’m ready to hire someone?
- Can I afford to hire someone?
- How do I find someone that’s a good fit?
- Should I hire for a full-time position or contract work?
- What kind of paperwork do I need to have?
When to Expect an ROI
- Saving you time so that you can grow the business
- Growing your practice’s capacity for patients – and therefore, income
- Expanding your practice’s services and/or service area
- Decreasing churn rate; improving patient retention
- (for insurance-based practices) Increasing RVUs and higher value RVUs
- Actively bringing in patients
- Providing efficiency to processes, which saves time, money, and resources
Important Conversations To Have With New Hires
- What their capacity is for weekly working hours – now and in the future?
- Do they value flexibility or routine?
- What are their compensation requirements?
- And, beyond money, what else is important to them?
Options in Structuring Compensation for Your First Employee
- “I can’t afford to hire someone full-time right now. I can currently offer 16-20 hours per week. But in 4-6 months, I can afford more.”
- “I can’t afford $70/hour right now, but I can pay $68.”
Revenue Share Options
Beyond Money. Creative Ideas for Compensation
- Flexibility and autonomy are HUGE these days. If your employees can work from home, your practice is more attractive than one that requires them to spend 8-10 hours a day in an office (+ commute time).
- You could offer your employees and their families free healthcare through your practice.
- You also might consider offering to pay for their healthshare membership through your practice. This could also likely be a significant tax write-off for you.
- Paid time off is another big one. You might not be able to do this right away, but then again, maybe you can!
- Personally, I think that providing childcare can be a game-changer. The majority of nurses are moms and if you can cover part or all of their childcare, or even have a childcare employee on staff, MANY nurses would HAPPILY work for you.
- Think about what else you might offer that’s unique and valuable. My husband and I have a vacation home in Tennessee and we let our staff stay there from time to time so they can get a (mostly) free vacation with their families. You, too, might have access to something that offers an added perk to the job.
FNP-C President & Co-Founder
Veronica co-founded Med2You, a healthcare company based in Austin, Texas that provides primary and psychiatric care to underserved populations with a completely remote care team led by nurse practitioners.
Veronica started her business as a single provider with a mobile “doctor bag,” cellphone and a laptop.
As a family nurse practitioner and entrepreneur who has operated her own practice since 2013, Veronica knows the unique challenges and needs APNs have when navigating the business, legal and regulatory components of starting and operating a thriving healthcare practice.
Now, her mission is to put this knowledge in the hands of other advanced practice nurses so that they can realize their full potential as clinicians, entrepreneurs and leaders in their community.
With her business partner, Griffin Mulcahey, a healthcare regulatory attorney, Veronica has designed the educational programs, resources, and community support network that is the American Academy of Nurse Entrepreneurs (AANE).
Veronica is also a sought-after speaker around the country. She speaks to healthcare entrepreneurs, clinicians, hospitals, and associations – proudly educating and helping the growing community of healthcare entrepreneurs who are giving more options and better care to communities around the country.