Synthesis In Advanced Practice Care Of Complex Patients

Independent Practice Business Plan
Student’s Name
Institutional Affiliation
Independent Practitioner Business Plan
Business Description
The medical service business will go by the name Elizabeth Hope Care Clinic (EHCC). The health facility will be located specifically in Baltimore, Maryland. Maryland is an appropriate state because it is among the few states that permit operations of independent practice and the need for a physician oversight is not mandatory (Lucash, 2011). In Maryland, an NP has a right to advise, diagnose, treat and diagnose without the supervision of primary care physician. The clinic will be founded and operated by Miss. Elizabeth Jones, a Family Nurse Practitioner-Board Certified (FNP-BC) with eight years of practice.
The Financing
Since Elizabeth Hope Care Clinic is in its start-up phase, definitely there are initial costs and funding issues to address. The monthly cost to include is; clinical site expense, employee structure and expenses, supplies expense, malpractice insurance costs, accounting fees, continuing education fees and utilities and other overhead expenses (Lucash, 2011).
Start-up RequirementAmount in $Clinic site expenses (rent)17000Employee expenses (Hiring/salaries and remuneration)19500Supplies expenses (nursing& office supplies)35000Utilities and overhead expenses18500Continuing education expense10500Accounting fee2500Malpractice Insurance expense 3000Total 106000
Clinic Site Expense
EHCC plans to rent premises rather than buying a property as the latter is deemed expensive at the moment. Clinic site expenses comprise of office upgrade costs, post office box costs and phone set up costs. Normally the facility rent is paid in the form of deposit plus a first and assuming fee, all at the beginning of the month (Fitzpatrick, Glasgow, & Jane, 2010). The summation of this expenditure amounts to $17000.
Employee’s Structures and Expenses
The expenses include the costs to be incurred in recruiting, training and salaries of the employees in the first month of operation. The facility will conduct a rigorous recruitment process to ensure that the employed staff is qualified to meet EHCC’s mission and vision. Training of the staffs will also be necessary to familiarize the employees with facilities equipment as well as the rules and regulation to establish a profound organization culture (Reel & Abraham, 2013). The costs incurred are estimated to be $19500.
Supplies Expenses
Supplies are classified into two categories: office equipment and nursing supplies. The office equipment comprises three computers, all fully loaded, 4-in-1 system with Printer, Fax, Copier, and Scanner. QuickBooks Pro for accounting, phones, pager, brochures and business cards (Douglas E. Hough, 2008). The nursing supplies include a stethoscope, blood pressure monitors, medical lab coats, dressing scissors, drug books, penlight, badge holders, nursing scrubs, drugs among others. The estimated total costs of all the supplies amounted to $35000.
Utilities and Overhead Expenses
Utilities and overhead expenses include the miscellaneous expenses that the clinic will incur inevitably. These costs include e...