Strategic Business Planning for Advanced Practice Nurses
Reply to Kanindia
- Strategic Business Planning for Advanced Practice Nurses
- Analyzing the process of Advance Practice Nurse (APN) business planning with a systems approach requires the understanding of the inner workings of the healthcare system, APNs’ role in that system as well as the variables that affect successful planning. Among APN’s functions, the nurse practitioner, the certified nurse anesthetist, the clinical nurse, and the nurse-midwife, occupy the front line in the provision of primary health care needs in which they function cost-effectively and improve the quality of the health delivery system (Alexander & Shirey, 2020). As a critical part of the process for a successful business plan, the APN analyst should consider the broader health system framework that involves the regulatory structures, insurance system, patient demographics, and interprofessional collaboration.
APNs should assess the current healthcare status before identifying the places where solutions and gaps are likely to be found. It means to know the regulations of State and Federal laws within, for example, the boundaries of the scope of practice, as well as the payment guidelines (Alexander & Shirey, 2020). For example, in the states where the laws are more comprehensive and the provider must be a physician who supervises, there are some states where the practitioner can work on her own but he/she can never make the decision alone. Moreover, APNs have to deal with these obstacles in the process of overseeing and organizing the rules intended to keep them ahead of their competitors.
In addition, APNs should conduct a comprehensive analysis of the target market population as well as demand for the services. This includes the assessment that has been done regarding the level of population, distribution of the ages, socioeconomic status, and the most prevalent diseases. When it comes to addressing health inequities and treatment access gaps, APNs can tailor their services to suit the unique needs of each community. Being of the same, APNs that operate in rural places with poor or nonexistent healthcare practitioners can offer their services through telehealth to the underprivileged population.
Besides this, to create efficient processes and referral networks, practitioners in nursing need to establish beneficial partnerships with other health service organizations and providers. It could involve setting the relationships between hospitals, primary care clinics, specialist practices, and community-based communities to achieve better health integration. APNs, physicians, and other healthcare specialists can commonly work on the same cases through care partnership agreements and each one of them is based on his/ her expertise by suggesting the given possibility. Coordinated care is the result of forming strong and right relationships with APNs which subsequently may increase their reach and contribute to better outcomes for their patients.
Additionally, the fact that APNs should not forget about efficient financial management leads to their profit-making because of this procedure. This entails the billing and coding, the preparation of budgets and revenue forecasts, as well as optimization of reimbursements. APNs should have a comprehensive comprehension of the complex healthcare payment modalities, which include the various alternative models of payment, Medicare and Medicaid, and private insurance. Through improvements on the cost side and the reimbursement factor, the organization will be able to rake in more savings by reducing administrative expenditures.
Principally, as a result of market climate transitions and healthcare trends change, APNs being very steady always should evaluate, and make necessary adjustments to their business model. The organization undertakes regular measurements of patient satisfaction components, key performance indexes, and amendments of regulatory changes (Jokiniemi et al., 2019). RNs may assume their authority in the area of healthcare delivery by accommodating the new developments in the healthcare market and fostering positive change.
Integrating all these aspects into a multipronged APN business planning process includes a comprehensive overview of the healthcare industry as well as the dynamics and interprofessional cooperation as well as financial management and continuous development. Due to the integration of professional competencies earned by APNs, their business acumen, and the drive to provide patient-oriented care, APNs can help set up long-lived and successful operations that will bring prosperity to the community.
References
Alexander, S., & Shirey, M. R. (2020). Advanced nursing practice: Pathway to entrepreneurship. Foundations of Clinical Nurse Specialist Practice. https://doi.org/10.1891/9780826195449.0029
Alexander, S., & Shirey, M. R. (2020). Advanced nursing practice: Pathway to entrepreneurship. Foundations of Clinical Nurse Specialist Practice. https://doi.org/10.1891/9780826195449.0029
Jokiniemi, K., Suutarla, A., Meretoja, R., Kotila, J., Axelin, A., Flinkman, M., Heikkinen, K., & Fagerström, L. (2019). Evidence?informed policymaking: Modelling nurses’ career pathway from registered nurse to advanced practice nurse. International Journal of Nursing Practice, 26(1). https://doi.org/10.1111/ijn.12777
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