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Oral Abstracts (Session 4 of 5)
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Moderator: Cindy Felty, RN, CNP, CWS (Presentation 35.3) Increased revenue capture through the implementation of a nurse practitioner as provider in an outpatient wound care center Joan Phillips, MSN, RN, CCRN, APRN, BC; Carol Benton, BSN, RN, CWCN; Dawn Schoenherr, MSN, RN, CCRN, APRN, BC, William Beaumont Hospital, Royal Oak, Mich Abstract: Delayed or cancelled clinics by private practice surgeons forced a busy outpatient wound care center to consider alternatives to meet patient needs and capture lost revenue. In an 8-month period, 95 missed clinics or 1,427 lost patient visits were identified, which annualized to $235,340 in lost facility charges. A nurse practitioner (NP) was hired as an employee to see patients in the absence of the physician. Projected net revenue was derived utilizing annualized procedural volumes for lost patient visits and assumed billing only Medicare patients (65% of the patient population) for evaluation and management and debridement services at 85% of the professional fee screen and facility charges at 100% of the APC amount. The final analysis estimated an annual volume of 1,392 procedures (116/month) to make the NP salary cost neutral and generate an annual net income of $116,000. In 6 months time, the NP was performing 316 procedures and generating $15,000 in gross revenue per month during missed or delayed clinics. While the process of integrating the NP as a provider had its challenges with physicians and staff, it proved to be a sound financial decision while meeting the needs of the patients in the wound care setting. References 1. Vincent D, Mackey T. Cost analysis: a tool for measuring the value of nurse practitioner practice. Nurse Pract Forum. 2000:11;149–153. 2. Williams D, Sidani S. An analysis of the nurse practitioner role in palliative care. CJNL. 2001;14:13–18. 3. Sullivan-Marx EM, Happ MB, Bradley KJ, Maislin G. Nurse practitioner services: content and relative work value. Nurs Outlook. 2000:269–275. 4. Hoffman LA, Happ MB, Scharfenberg C, et al. Perceptions of physicians, nurses, and respiratory therapists about the role of acute care nurse practitioners. Am J Crit Care. 2004;13:480–488. 5. Van Soeren MH, Micevski V. Success indicators and barriers to acute nurse practitioner role implementation in four Ontario hospitals. AACN Clin Issues. 2001;12:424–437. 6. Kelly NR, Mathews M. The transition to first position as nurse practitioner. J Nurs Educ. 2001;40:156–162. |
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