For NP entrepreneurs looking for a change in the healthcare industry, there are a variety of nurse practitioner business opportunities to choose from, Whether seeking full-time entrepreneurship or starting a specialized care business on the side, such as becoming a nurse health coach, nurse practitioners have an opportunity to 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 independent practice, goals as a business owner, and path to success are different. While there are any number of types of businesses nurses can start, we’ve found that these four nurse practitioner business ideas tend to be the most popular and profitable among our network of nurse entrepreneurs.
1.) Traditional Nurse Practitioner Business Idea: Brick-and-Mortar NP-Led Practice
Nurse practitioner private practices have served as a saving grace for patients as they seek alternative care solutions, especially in rural and underserved communities. With a growing number of full-practice authority states, nurse practitioner independent practice is becoming increasingly popular, especially since the U.S. is facing both a nurse shortage and a primary care shortage.
For nurse practitioners, a brick-and-mortar business opportunity provides increased practice autonomy and enables 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. Applying a patient-centric approach to care provided by NPs has proven to be a welcome change for patients as compared to what they may be used to getting from large systems.
If you have questions about getting started, our Checklist for Independent NPs can help!
2.) Convenient Nurse Practitioner Business Idea: Nurse Practitioner Telehealth
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.
One nurse shares how telehealth helped to jumpstart her independent practice:
Zell added, “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 – as of late – private insurance reimbursement for nurse practitioners has decreased 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 in telehealth for nurse practitioners.
3.) Consultative Nurse Practitioner Idea: NP Professional and Business
Many nurse practitioners have opted to use their professional in-practice, NP entrepreneurship, and life experiences to advise and mentor 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 other medical professionals forward in their careers. For instance, a legal nurse consultant can help NPs navigate scope of practice regulations in their state.
Because this knowledge is valuable, NP business consultants can be hired for their coaching business services, making this another business idea for nurses. Often, a nurse practitioner entrepreneur network begins to form among these business consultants and their clients as they work together to advance the profession.
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.) Subject Matter Expert Nurse Practitioner Business Idea: Content Creation
Content creation is another one of many nursing business ideas. Your insights are of great interest to patients and fellow professionals. This comes in many forms and can serve several purposes. Some examples of content creation are:
- Creating and hosting podcasts
- Developing content for online courses
- Writing medical blogs and social media posts
- Creating guides, tip sheets, and other downloadable content
Content creation focused on the interests of a registered nurse or nurse practitioner can serve as a great way to create side 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 that includes business ideas for nurse entrepreneurs.
Frequently Asked Questions About Being A NP Business Owner
If you’re contemplating nurse business ideas, you likely have several questions. The following are some frequently asked questions related to becoming an independent NP.
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 an NP entrepreneur. In fact, savvy nurse business owners may choose to pursue multiple nurse entrepreneur ideas at a time, depending on their priorities. Whether opting for part-time entrepreneurship in health coaching, or a full-time career transition to private practice, the unique skills of a nurse practitioner leave them well poised for success in business.
How Can I Market Myself as an NP?
Marketing yourself as an independent nurse practitioner takes time, effort, and consistency. However, with the right approach, you can grow your practice and better reach your target audience. Start by updating your online presence, creating your own website, and leveraging social media to build awareness. Since your time is valuable, consider outsourcing these tasks to a professional agency that specializes in marketing for independent NPs.
What Are Some Common NP Business Ideas or Opportunities?
For NPs, the possibilities are endless, and the key to a successful business is to find your niche and cater your services to specific customer needs. One example of a business idea for nurses is opening a wellness center that provides various health services with a particular emphasis on preventative care, with you acting as a nurse health coach. Or you may choose to focus on a niche practice, such as mental health or becoming a childbirth educator. Consulting, teaching, and patient advocacy services are also viable options.
Should I Work Full Time or Part Time as A Nurse Practitioner?
As an independent NP, you have probably wondered whether you should work full-time or part-time. Work-life balance is a critical factor to consider when deciding whether to work full-time or part-time as an independent nurse practitioner. If you want more time at home with your family, have a side hustle, or other commitments, part-time employment may be the best option for you. On the other hand, if you need to maximize your income and don’t personal life constraints, then a full-time independent practice may be better.
How NP Advantage Can Help You Start Your Nurse Practitioner Private Practice
Our tenured business consultants have the knowledge to help launch and grow NP independent practices. This program includes a full suite of services and ongoing consultation that equips entrepreneurial healthcare professionals to renew their joy in the work of nursing and best position them realize financial gain through 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.