Introduction to the APN Professional Business Plan
Business concepts and business development are rarely included in nursing education. The elements are missing both at the undergraduate and at the Masters level (Buppert, 2011). For a business venture to succeed, it is important for one to formulate a plan for it. Planning is crucial to any venture regardless of the field. The plan addresses, among others, aspects to do with the assessment, identification, and initiation of interventions. In addition, implementation and evaluation are equally significant in any business plan, especially for a clinical nurse practitioner (Buppert, 2011).
The current paper is written against this background. In the paper, the author proposes how an Advanced Practice Nursing (APN) practitioner can develop a business plan. The plan is intended for a Family Nurse Practitioner (FNP). The author of this paper will identify the various elements of a conventional plan, both in the business and in the healthcare field. It will encompass identification of relevant principles stipulated in any strategic plan. They include vision statements, mission statement, and market analysis. The proposal will also entail industry analysis and marketing strategy. Operation plans, anticipated registrations, and financial cash flows will form the foundation of this business proposal. The name of the proposed business is Middle Town Family Care.
Profile of the Proposed Business
MiddleTown Family Care (MTF), an Iowa limited liability corporation (LLC), will engage in offering healthcare services in the community. It will provide both primary and educational healthcare services. Time will be a critical aspect in this business. Depending on the level of services required, each client will be attended to for at least 30 minutes. Unlike normal healthcare centers, which allocate 10-20 minutes per client, MTF will make sure that the patients are fully assisted.
The clinic will be involved in the provision of services that include differential diagnosis, treatment, prevention, intervention, and therapeutic measures. The services will be availed in a holistic manner, taking into consideration the client’s cultural background and other unique traits. Education is a key component in APN practice. To this end, the clinic will provide education on self-care to individuals who want to know about their personal health status. They will be helped to make the necessary changes in their lives (Garoll & Mulley, 2009).
The practitioner will spend most of their time educating clients and their families. They will engage in the provision of psychosocial and physical care, laboratory work, prescription, as well as examinations. There are other services provided by APNs, and these will be catered for in the proposed practice. Annual examinations, childcare, female health, and school healthcare programs will be initiated. Screening services and management of diseases are also part of the proposed venture. The services will be affordable and will suit different lifestyles of the people living in Iowa.
Under normal circumstances, nurses are not trained to become entrepreneurs. They are not intended to start and run their own businesses. The situation notwithstanding, Buppert (2011) identifies over 56 business concepts that are vital in the management of primary care practices. Some nursing colleges offer elective courses to students in efforts to attain their entrepreneurial potential. There are very few core courses that address the issue of business plans. The elective courses offered in colleges include budgeting, marketing, and development of business plans. However, these subjects are not offered in all colleges, creating disparities in APN business knowledge. According to Buppert (2011), it is paramount for the APN to have substantial knowledge on healthcare finances and accounting. The proprietor of the proposed business will take advantage of the elective courses they took in college to manage the new venture.
DeNisco and Barker (2013) are of the opinion that nursing skills are easily transferable between this profession and business ventures. The skills can be used to transform entrepreneurial undertakings. DeNisco and Barker are of the opinion that nurses operate in troubled environments in most cases. As a result of this, most APNs have developed considerable customer handling skills. The attributes are very fundamental in business management. The skills learnt in class will be used to run the proposed practice.
Proposed Vision Statement
The vision statement of the MTF Nursing Center is:
To provide high quality and world class healthcare services to the residents of Iowa and surrounding areas.
The nursing center will be a leading provider of medical care in Southeastern Iowa. It will set new standards in offering compassionate and responsive care to the clients. The vision statement captures the desire to administer comprehensive primary healthcare services to individuals from infancy to adulthood. The FNPs to be employed are equipped with the knowledge to manage various illnesses like obesity, bronchitis, high blood pressure, and other chronic maladies (DeNisco & Barker, 2013).
The practice will offer educational services that include information on disease management and prevention. According to the American Psychological Association [APA] (2010), FNPs make significant contributions to the healthcare system by offering services to the under-served population. The clinic will do this to the residents of Iowa.
Proposed Mission Statement
The following is the mission statement for the proposed practice:
To improve the health of Iowa residents through the provision of excellent patient care and medical innovation services.
In collaboration with the client, the FNP will provide healthcare services that are informative and accessible to people of all ages. To achieve this, the management will value the time, skills, and expertise of members of staff. The management will provide fair living wages for the employees (APA, 2010).
Key to Success
The following are the aspirations that will guide the proposed business:
- To offer family oriented medical care.
- To provide fair pay and an elaborate staff structure to reduce dissatisfaction increase client turnover.
- To hire skilled staff and equip the facility to offer continued medical services, especially with regards to intensive care
Proposed Process of obtaining all the Anticipated Registrations
There will be various legal certifications needed for the business to start operating. They include Central Contractor Registration (CCR). The license requires all organizations to do business with the federal government. Acquiring this certification ensures that any initiative from the federal government is communicated to small businesses.
Clinical Laboratory Improvement Amendment (CLIA) certification will be acquired immediately before the business starts to operate. The aim is to maintain the recommended laboratory standards. The MTF will also acquire the Marketing Partner Identification Number (MPIN). The number will facilitate collaboration with other organizations operating in this field. The National Provider Identifier (NPI) and Taxonomy Registration North American Industry Classification System (NAICS) will be acquired on a contractual basis. They will be renewed after every two years. Commercial and Government Entity (CAGE), Dun and Bradstreet Number (DUNS), and Employer Identification Number (EIN) will be acquired after the first year of MFT’s operations.
Proposed Service Delivery Charter
Marketing Plan
The target group will be the family community in Iowa. Since the group is very small, the market strategy should be very specific. Advertising using media like television is not applicable. The reason is that this medium is expensive. In addition, residents of a given area may come from diverse backgrounds, making it hard to provide messages that are specific to the heterogeneous group using television. To address this problem, print media will be used.
Billboards will be displayed in strategic positions. Advertisements will also be placed on local dailies. Weekly newspapers will be used to promote the FNP business. Some gas stations permit business owners to advertise in their premises. The proposed business will take advantage of this. In addition, the practice will sponsor a weekly column in the newspaper to promote public health. The articles contained in these columns will act as additional promotional measures.
In the first fiscal year, MFT operations will be funded using loans and personal investments. Additional funds will be acquired from government grants. In the long term, the business will sustain itself.
Proposed Staffing
The business will acquire 6 trained FNPs, a CEO, 3 cleaners, 1 messenger, and a receptionist. The management will include Advanced Practice Registered Nurses (APRN), an FNP, and a Certified Nurse’s Assistant (CAN). The board of governors will include qualified practitioners from community and state hospitals. Legal and certified accountants will be acquired on contractual terms.
Marketing Plan, Economic Feasibility Analysis, and Business Strategy
In most cases, healthcare systems focus on the provision of treatment services. Prevention services are availed in the peripheries. Garoll and Mulley (2009) have developed guidelines and objectives for healthcare organizations. According to Garoll and Mulley, some objectives include educating the public on diabetes and other chronic conditions. The proposed business will exploit these opportunities.
In Iowa, reported cases of obesity and other life threatening conditions have been on the rise. In some counties, it is approximated that over 10,000 individuals are suffering from diabetes (APA, 2010). In spite of this, there are very few certified diabetic practitioners in the country (Garoll & Mulley, 2009).
Management and Operational Plan with Proposed Organizational Chart
The APN entity is viewed as a limited liability corporation. Based on this, the proposed business will enjoy the benefits associated with tax waivers. In addition, the business entity can accommodate more partners in the future. The Chief Executive Officer (CEO) will be charged with the responsibility of making decisions. As already indicated, there will be an APN provider. The following is the envisaged organizational structure:
The hospital will be housed on a space of about 600 square feet. An additional space of 300 square feet will be acquired with time. The structural design will require a ramp for wheelchairs. The doors will be wide enough to enhance movements. The spaces should be adequate for the navigation of wheelchairs. The facility needs to have adjustable furniture to accommodate the height of the CEO and other employees.
Operational goals and objectives are very important for the success of the proposed business. Long term objectives include the provision of healthcare services to families in the region. Short term goals will help in the achievement of long term aspirations (Porter-O’Grady & Malloch, 2011).
Conclusion
In this paper, a business plan for MiddleTown Family Care was provided. Background information was provided to enhance the success of the proposed venture. A nursing practice is just like any other business. As such, planning for such an undertaking will require one to take into consideration the various elements involved in running a conventional business. The elements were identified and analyzed in relation to the proposed practice.
References
American Psychological Association. (2010). Publication manual of the American psychological association (6th ed.). Washington, DC: Government Print.
Buppert, C. (2011). Nurse practitioner’s business practice and legal guide (4th ed.). New York: Jones and Bartlett Publishers.
DeNisco, S., & Barker, A. (2013). Advanced practice nursing: Evolving roles for the transformation of the profession (2nd ed.). New York: Jones and Bartlett Publishers.
Garoll, A., & Mulley, A. (2009). Primary care medicine: Office evaluation and management of the adult patient (6th ed.). Philadelphia, PA: Lippincott Williams and Wilkins.
Porter-O’Grady, T., & Malloch, K. (2011). Quantum leadership: Advancing innovation, transforming health care (3rd ed.). Sudbury, MA: Jones and Bartlett.