Marketing, Contracting and Reimbursement for the Advanced Practice Nurse

1. Marketing, Contracting and Reimbursement for the Advanced Practice Nurse Charlene Baldwin, RN, BSN

2. Intro/overview • Creating effective marketing strategies for seeking employment. • Promoting and marketing the APN role to the public and potential employers. • Analysis of contract considerations and negotiations. • Analysis of reimbursement strategies for the APN.

3. Creating Effective Marketing Strategies • Marketing Mix to Strategies is made up from 4 P’s Mix. Image obtained from netmba.com (Kotler, 2005)

4. The 4 C’s: A More Contemporary Approach • The 4 C’s are a more customer oriented version of the 4 P’s. Image obtained from sales-and-marketing-for-you.com (Kotler, 2005)

5. Maslow’s Hierarchy of Needs • This is one of the basis of understanding consumer’s motives for action Maslow's_Hierarchy_of_Needs.svg‎ from Wikipedia Commons.

6. Psychographic Profile for the Public • Needs=Access to Medical Professional. If not a Dr., then who? • Wants=Competent diagnosis and plan of care. • Fears=Doctors stretched thin now. What happens when HCR fully enacted? • Desires=More “face time” with a designated Primary Health Care provider.

7. Psychographic Profile for Potential APN Employers • Needs=Primary Health Care Provider to fill void by lack of Doctors. • Wants=Competent diagnosis and plan of care for clients. • Fears=APN represented as substitute for M.D. • Desires=Ability to prescribe meds a plus.

8. Promoting and Marketing the APN • Address Needs/Wants/Fears/Desires using 4C’s. • Engage in active dialogues with both Public and Potential Employers • When confronted with issues, work with concerned party to find mutually beneficial solution.

9. Public Campaign • Engage Public through website/blog, educational and social networking sites. (Facebook, Twitter and Wikipedia.) • Other avenues of communication: Public Access Cable, Public Appearances, Printed educational material, Talk radio, volunteer to be at anything needing expert medical advice.

10. Public Campaign (cont.) • Give specific definitions of what an APN is and isn’t. (SOW=Scope of Work. Not an M.D. substitute. Ability to prescribe meds.) • APN is still a Nurse. Patient advocate. • Detail recovery rate benefits using an APN. • APN position is essential in recovering from Health Care personnel crisis.

11. Potential Employer Campaign • APN essential position with M.D. shortage. (Looming larger w/ HCR.) • In AZ, APN can prescribe meds. • APN is a position with accredited education and certification. • Cost outlay is outweighed by lost revenues of patients unable to be seen otherwise.

12. Potential Employer Campaign (cont) • SOW fits within most Hospitals/ Private Practice. • Convenience=APN can reach affected populations without local health care facilities. (Benefit for Public as well.) • Client value is close and APN can always reference M.D. when needed.

13. Potential Employer Campaign (cont) • Potential employers can be referred to APN’s online resume, Linked-In acct or personal website/ blog. • APNs can network with other Health Care professionals. Carry business cards with easy contact information.

14. Effective Marketing Strategies for Seeking Employment • 4 P’s of marketing • Marketing strategies • Organizational considerations • 4 P’s of employment

15. 4 P’s of Marketing • Product • Price • Place • Promotion (Purdue University, 2005) Pur

16. Marketing Strategies • Networking • Volunteering • Professional organizations • Information interviews • Internet • News paper (Careers and Employment, 2010)

17. Organizational Considerations State regulations for APN Organization’s • Mission • Structure • Strategic priorities • Culture (Hamric, Spross, Hanson, 2009)

18. Organizational Considerations • Nursing philosophy • Share of organizational power • Definition of APN roles • Knowledge of supporters and alliances for the position • Commitment to interdisciplinary care and continuous improvement principles (Hamric, Spross, Hanson, 2009)

19. Organizational Considerations • Communication and collaborative process among providers, administrators, and APNs • Data that supports the position • Credentialing requirements • Financial objectives • Resources • Model of care delivery (Hamric, Spross, Hanson, 2009)

20. 4 P’s of employment • Preparation • Practice • Personal presentation • Pertinent questions (Careers and Employment, 2010)

21. The Very Fine Art of Negotiation Identify what is important to you Prioritize Ask for more than you expect Be prepared to lose some points Seek Win-Win

22. Beyond Salary and Health Benefits Role-associated costs Continuing education fees License renewal fees National certification renewal fees Malpractice insurance Tail coverage insurance policy

23. Additional Contract Points to Consider Scheduled raises Pension plan opportunities Professional association membership fees Professional journal dues Cell phone and pager charges Internet access fees Online literature fees

24. Contract Language: What does it Mean? Restrictive covenants Termination clauses Termination without cause clause Include standard clause that defines contract modifications implementations Mutual termination clauses Consider legal review of contract

25. Salary Negotiations • Options Hourly rate paid as annual salary Compensation based on productivity Compensation based on payer mix • Discuss ANP benefits For patients Generating income

26. Salary Negotiations • Newly graduated APNs should request fixed salary vs. productivity compensation • Additional benefits to consider: Bonuses PTO Disability and life insurance Profit-sharing

27. Average FNP Salaries National Average $88,000 Phoenix AZ $97,000 Chicago, IL $98,500 Houston, TX $99,000 Baltimore MD $113,000 Memphis, TN $75,000 Charlotte, NC $82,000

28. Conclusions • Marketing is involved, ongoing and evolving. • The same marketing channels can be used to engage the public and employers. Strategies vary by psychographic profiles. • Salary negotiations require you don’t sell yourself short. Consider all of the expenses involved in being a working APN. • Carefully consider Contract Language and Compensation method.

29. Questions???

30. References Careers and Employment (2010). Employment seeking strategies. Retrieved from www.careers.qut.edu.au/student/resource/ Employmentseeking.pdf Hamric, A. B., Spross, J. A., & Hanson, C. M. (2009). Advanced practice nursing: an integrative approach, (4th ed). Retrieved from University of Phoenix eBook collection Hansen_Turton, T., Ritter, A., Rothman, N. & Valdez, R. (2006). Insurer policies create barriers to health care access and consumer choice. Nursing Economics, 24(4), 204-211.

31. References Kleinpell, Ruth & Perez, Diego. (2006). Negotiation strategies for ACNP practice. The Nurse Practitioner. 31(5). Kotler, Phillip (2005) According to Kotler: The World’s Foremost Authority on Marketing Answers Your Questions. Pg 13. AMACOM Books, 1601 Broadway, NY, NY 10019. Purdue University (2005). Marketing’s Four P’s: First steps for new entrepreneurs. Retrieved from www.ces.purdue.edu/new