NR 510 Week 3: Organizational Behavior and Business Influences and Advanced Practice Nursing Case Study Part Two
NR 510 Week 3: Organizational Behavior and Business Influences and Advanced Practice Nursing Case Study Part Two
According to salary.com the average US NP makes approximately $116,000 per year. The same site states that the average salary in my area is between $108,000 and $126,000 per year. Danielsen, Potenza, and Onieal (2016) suggest that you should not think that the salary of the position you are pursuing has a predetermined rate. Considering a previous rate of approximately 20 patients a day and a projected rate of 24 patients a day, a salary of $117,000 would be appropriate. Using Buppert’s equation, seeing 20 patients a day would produce an approximate salary of $106,000 and seeing 24 patients would produce an approximate salary of $128,000. If you take both salaries and average them it is approximately $117,000, a fair rate in the current market of NPs. This also leaves room for negotiation for the next contract when goals are met. Considering this position is a contract position, I would not hesitate to ask for a bonus based on performance, collection rates, and revenues. Independent contractors typically provide for their own medical insurance, malpractice insurance, and continuing education costs, this is a substantial savings to the practice. In New Jersey the cost of a family health care plan can cost an employer more than $20,00 yearly, while malpractice insurance costs approximately $2000 a year for a family practitioner (NSO.com).
Jessica.
Resources:
NR 510 Week 3 Organizational Behavior and Business Influences and Advanced Practice Nursing Case Study Part Two
Danielsen, R., Potenza, A. & Onieal, M. (2016). Negotiating the professional contract. Clinician Reviews, 28-33.
Decapua, M. (2016). How much revenue does a primary care nurse practitioner generate? Retrieved from https://www.bartonassociates.com/blog/how-much-revenue-does-a-primary-care-nurse-practitioner-generate/
Nurses Services Organization. (2018). Quick Quote for Individual Professional Liability Insurance. Retrieved from https://forms.nso.com/mustela/site?productName=HCI#/QuickQuoteDetails.
Salary.com. Nurse practitioner salaries in Toms River, NJ. Retrieved from https://www1.salary.com/NJ/Toms-River/Nurse-Practitioner-salary.html
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I had an experience to try to negotiate my salary as an RN when laterally moving from a per diem position to a full-time position at my current job. I was per diem and circumstances at the hospital meant that I may not be able to work as much as I would like. I took a position with a differential then before my transfer a full-time position opened on the unit I was working on. I wanted to stay on the unit, but I did not want to lose the differential of the other position since I was taking a cut in pay from the per diem position. I had a meeting with my manager and told her that I needed a little higher of a salary to take the position on my unit. Unfortunately, one of the hospitals in our system is union and there is a set protocol for pay. However, since my manager really wanted me to stay on the unit I was given the salary of an RN with 5 years-experience even though I was several months from that anniversary. I would have stayed even if I didn’t get more money. That was the job that I really wanted. Happiness in your position is sometimes more important than salary. Gillet, Fouquereau, Coillot, Cougot, Moret, Dupont, Bonnetain, and Colombat (2018) in their study of job satisfaction and quality of care found “the present results revealed that job satisfaction related positively to quality of care and negatively to turnover intentions” (p. 1215).
Jessica
Resource:
Gillet, N., Fouquereau, E., Coillot, H., Cougot, B., Moret, L., Dupont, S., Bonnetain, F., & Colombat, P. (2018). The effects of work factors on nurses’ job satisfaction, quality of care and turnover intentions in oncology. Journal of Advanced Nursing, 74, 1208-1219.
I would propose a salary starting with the base of the 20 patients per day I would see and calculate from there similar to Buppert (2011), including costs, consults, sick time, vacation, and continuing education which would be around $105,000. This base rate varies by state and specialty, taking for instance the 2012 survey in Arizona depending on the nurse practitioners specialty the salaries range from 24,000 to 103,000 dollars (Widemark,2012). According to this scale the range would not be correct therefore it is important to know the state salary and living expenses in which you are in. Another driver of the wages one will make as an nurse practitioner is the demand for nurse practitioners in that area, as the need for mid level providers increases the wages will increase until the void is fulfilled. According to the bureau of labor the number of nurse practitioners in some states is minimal yet they are being paid some of the highest in the country to keep up with the competitive salaries of those states with more demand for nurse practitioners (Bls.org,2017)
Bureau of Labor Statistics,2017, Bls.org
Widemark,2012. Nurse practitioner salary survey. Nurse practitioner world news
Since I am a family nurse practitioner nursing student I could only make a guesstimate on what should be the proper salary for a practicing nurse practitioner. Actually the only research I have looked into when it comes to nurse practitioner salaries is the common median salary for a nurse practitioner in the state of Texas. From the various websites and from talking to actual nurse practitioners the median in Texas seems to be over $100,000. I would have to learn more and actually become a nurse practitioner to figure out the true salary that I believe I deserve and would work towards obtaining in the future. Apparently according to other nurse practitioners at the organization that I work at, the amount of patients that you see will contribute to salary. I would strive to see a good amount of patients ranging from 20 to 24 patients based on the salary breakdown on the question above. I would propose for $110,000 to $120,000 salary based median. I believe that fits with the common median of what a nurse practitioner who makes. One also has to understand where the nurse practitioner is working because based on where the nurse practitioner is working it will affect and contribute to how much the NP will make in a year. For example a nurse can work at a private practice office, a clinic, or even go a step further and work in the hospital setting as an advanced nurse practitioner. It is important that a nurse practitioner keeps up with the current salaries because it is important that he or she gets paid the correct amount that he or she deserves. Nurse practitioners do have more advocacy and independence then a bedside nurse however there comes more responsibility. I do believe that as a nurse practitioner games more responsibility I believe that the salary needs to be revised and examined. Patients are becoming more complex and critical and there is a shortage of actual practicing physicians . This is One of the reasons that nurse practitioners are gaining more responsibility and I believe as nurse practitioners gain more task and responsibilities that the salary should be increased. (Levine, 2015)
Referances:
Levine, J. (2015). Nurse practitioner practice characteristics, salary, and benefits survey, 2003. Clinical Excellence For Nurse Practitioners, 9(1), 49-58.