Advanced Practice Nurse (APN) business planning is a systematic approach to business planning that focuses on organizational structure, recruitment/selection and training, staffing and hiring practices, operations, budgets, and financial management and reporting. It can be used to help APNs develop a comprehensive business plan that addresses the critical aspects of organizational structure, staffing, hiring practices, operations, and budgets. It also provides insight into the current state of the profession. This type of planning helps APNs understand what will be required to recruit and retain staff and how they will operate their practice cost-effectively (Lim et al., 2018). APNs may use an APN Business Planner in conjunction with other tools, such as a budgeting software package or business plan template, to develop a holistic business plan that considers all business model elements.
Admittedly, nursing is a profession that requires advanced planning in order to provide the best possible care for patients. This planning includes ensuring that business strategies are in place to support the nursing team and the hospital. Nursing is a profession that requires advanced planning in order to provide the best possible care for patients. This planning includes ensuring that business strategies are in place to support the nursing team and the hospital. For Lim et al. (2018), business planning is essential for nurses because it provides a framework for developing and executing strategies that support the nursing team and the hospital. Business planning can help nurses identify and assess the needs of their patients and plan and budget for resources needed to provide quality care. One of the most significant aspects of business planning is creating a realistic and achievable goal. This is significant because it helps ensure that the goals are achievable and will benefit the nursing team and the hospital. Additionally, it is essential to keep business goals flexible so that they can be adjusted as necessary.
The last and most crucial part of the business planning process, which is the evaluation, is needed to determine whether or not the business has been successful. This phase is about analyzing the financial, organizational, legislative and regulatory, clinical, and other aspects of the advanced practice nursing business (Johnson & Garvin, 2017). Once all of the evaluation results have been obtained, it is necessary to revise the aspects of the business, if required.
The crucial part of the business planning process is the implementation, which pertains to the actual practice of the nursing business. This is where the nurses should consider the strategies they would like to follow and the resources they would like to employ to achieve their business goals (Johnson & Garvin, 2017). Furthermore, this phase involves the creation of the organizational structure of the advanced practice business, together with the tasks that would be assigned to the employees, and, lastly, the selection of the equipment, supplies, and materials that would be needed to support the business.
The business planning process is essential to any advanced practice nursing practice. If a new advanced practice nursing business is established, the operators must be aware of the business planning process. According to Lim et al. (2018), advancement in the healthcare industry requires new strategies that will enable advanced practice nurses to improve their business operations. Nurses must establish multiple revenue sources to remain financially stable. Advanced practice nurses have unique skills that make them unique in the healthcare industry. Advanced practice nurses should utilize these unique skills for business operations. There is a great demand for advanced practice nurses in the healthcare industry; therefore, they can establish their businesses and care for patients.
References
Johnson, J. E., & Garvin, W. S. (2017). Advanced practice nurses: Developing a business plan for an independent ambulatory clinical practice. Nursing Economics, 35(3), 126.
Lim, J. Y., Kim, J., & Kim, S. (2018). Review of nursing start-up literacy. Journal of Korean Academic Society of Home Health Care Nursing, 25(2), 127-138.
