For NP entrepreneurs looking for a change, there are a variety of nurse practitioner business opportunities. Whether seeking full-time entrepreneurship or a starting a side-business to test out working for yourself, nurse practitioners can leverage their deep knowledge of healthcare, strong interpersonal skills, and wide network of colleagues to find success with their NP business.
Every NP’s reason for pursuing entrepreneurship, goals as a business owner, and journey to success are different. While there are any number of business opportunities for nurses to pursue, we’ve found that these four NP business ideas tend to be the most popular and profitable among our nurse entrepreneur networks.
1: Brick and Mortar NP-Led Practice
With a growing number of full practice authority states, nurse practitioner independent practice is becoming increasingly popular. Propelled by the COVID-19 pandemic, the U.S. is facing both a nurse shortage and a primary care shortage. Nurse practitioner private practices have served as a saving grace for patients as they seek alternative care solutions, especially in rural and underserved communities.
The patient-centric approach to care provided by NPs has proven to be a welcome change for patients as they grow tired of longer wait times and accelerated doctor visits often associated with the type of care provided by large systems. For nurse practitioners, brick and mortar private practices provide increased practice autonomy and enable them to bring a more personal touch to healthcare. This in-person nurse practitioner business model tends to lead to better long term patient care and improved reimbursements.
2: Nurse Practitioner Telehealth
Patients have quickly grown accustomed to the convenience of online visits. Nurse practitioner telehealth providers have taken advantage of this opportunity to launch practices with large telehealth components alongside their brick-and-mortar practices. The enhanced convenience of telehealth has proven to accelerate appointment volumes and decrease the rate of no-shows.
Zell added, “As nurse practitioners, we focus on education, yet with employed roles we often aren’t given the time. With telemedicine, I don’t have the same overhead as a large clinic, and I can take the time to form a partnership with my clients. That way, when they log out of their visit, they can make an informed decision to meet their health goals.
NP Advantage not only helped me get set up, they also provided encouragement at every step of the way. Soon, I plan to open my brick-and-mortar practice!”
While telehealth has proven to be effective for both patients and providers, it does have its limitations. Telehealth utilization has increased in recent years; however, private insurance reimbursement for nurse practitioners has decreased as of late for telehealth visits. Because of this, we caution NPs seeking to launch telehealth-only private practices and advise them to stay up to date on the latest developments.
3: NP Professional and Business Consulting
Many nurse practitioners have opted to use their professional in-practice, NP entrepreneurship, and life experiences to advise and consult with those who have recently completed nurse practitioner schooling or are at the start of their NP business owner journey. These nurse practitioner consultants share their knowledge with other NPs, helping to propel their colleagues forward in their careers.
Because this knowledge is valuable, NP business consultants can charge a reasonable fee for their consultative services. Often, a nurse practitioner entrepreneur network begins to form among these business consultants and their clients as they work together to advance the profession.
“If you had asked me in 2011 when I graduated NP school what I would be doing now, I never would have predicted that I would have a business helping other nursing professionals with career development,” shared Amanda Guarniere, MSN, NP-C and Founder of The Résumé Rx.
Guarniere added, “What started as a “side-hustle” to help me cut back my full-time hours after my twins were born has now evolved into a full-fledged business with tremendous impact, as I’m able to use my skills to help other nurses and NPs figure out the best career paths for them. I want to encourage all NPs to honor their ideas, especially if it’s something that no one is doing yet. Innovation is a skill that many of us have, and when we give ourselves permission to explore our great ideas, that’s where businesses and opportunities can blossom!”
4: Content Creation
Another way for nurse practitioners to pursue entrepreneurship and advance the profession is content creation. This comes in many forms and can serve several purposes. Some examples of content creation are:
- Creating and hosting podcasts
- Writing medical blogs
- Creating guides, tip sheets, and other downloadable content
Content creation can serve as a great way to create passive income and to work at your own pace. While certain pieces may be expected at a regular cadence or by a deadline, the freedom to choose when, where, and how to create content serves the needs of many NP entrepreneurs.
“Content Creation for the nurse or nurse practitioner is about making life and work relatable to others. It’s about sharing your creative side with the world around you. It truly comes by just paying attention. Once you realize the content is all around you- quiet your soul and then share your observations in your special way.
It can be through TikTok, Instagram reels, t-shirts, digital products, products or even an audience through a podcast. The options are endless. Go forth and create!”
Sandra Pagenta, Doctor Nurse Podcast
What Type of Nurse Practitioner Makes the Most Money?
The nurse practitioners who make the most money are the ones who use their time wisely. There is no single path to becoming a NP entrepreneur. In fact, savvy nurse business owners may choose to pursue multiple nurse entrepreneur business ideas depending on their priorities. Whether opting for part-time entrepreneurship or a full-time career transition, the unique skills of a nurse practitioner leave them well poised for success in business.
How NP Advantage Can Help You Start Your Nurse Practitioner Private Practice
Our tenured business consultants have the knowledge to assist in the launch and growth of NP independent practices. Our full suite of services and on-going consultation equip entrepreneurial NPs to rekindle their joy in working and achieve profitability with practice ownership. Providing everything from a telehealth enabled EHR to a unique practice website, NP Advantage supports you at every step so that your patients can get the quality care they’ve been waiting for from your independent practice.