When you are fortunate enough to run a medical practice that is growing more than you can handle, you have to consider alternatives to increase productivity by incorporating costfriendly methods to accommodate more patients and enhance patient care. Even though hiring another full-time physician may seem like an ideal solution, there may be a better solution by hiring a Physician Assistant or Nurse Practitioner practitioner (aka Mid-level practitioner or Physician Extender). Let’s explore some of the benefits of hiring a PA or NP
Hiring a Mid-Level Practitioner Is Cost-Effective
One of the best reasons of hiring a mid-level practitioner is the cost-effectiveness that comes along with it. Hiring a mid-level practitioner can yield a sizeable amount of financial savings in the form of decreased payroll costs.
Reduced Liability and Insurance Costs
Mid-level practitioners have lower rates and lower cost per malpractice claims as compared to physicians.
Higher Patient Volume
Adding a physician extender can increase the number of patients on a doctor’s panel, resulting in an increase of yearly revenue and eventually bringing a profit to your medical practice.
Reduced Payroll Expenses
Midlevel practitioners, while still providing patient care comparable to that of a physician, incur lower payroll costs. According to a 2013 salary report, general physicians earn around $300,000 per year whereas Nurse practitioners earn about $98,817 and physician assistants earn about $107,268 annually.
Mid-Level Practitioners Provide Patient Care of Comparable Level
A special fact about the nurse practitioners is that they can provide a comparable level of patient care, as their skill set is similar to a physician’s. Typically nurse practitioners and physician assistants can perform most of the work that physicians can, including obtaining a detailed history, performing physical exams, ordering and interpreting diagnostic tests, diagnosing and treating diseases and, in most states, prescribing medications including most controlled substances. At many medical practices, physician extenders are even provided their own patient panel so that they may run their own clinics and treat to their own patients.
Mid-Level Practitioners Provide a Positive Patient Experience
It has been shown that both nurse practitioners as well as physician assistants have a positive rapport with patients and satisfaction rate between physician, physician assistant and nurse practitioner are the same and in many cases higher with mid-level practitioners.
Higher rates are mostly attributed to PA’s and NP’s spending more time with patients and providing them with more preventive care education.
Patient Ease of Access
Physician extenders can practice autonomously in many cases thereby to providing ease of access for the patients. If a physician is unavailable, they can entrust responsibility to either a PA or NP and have them handle all patient cases at their practice.
The Bottom Line
As physicians and practice owners are faced with increased amounts of patients and a decreased amount of graduating physicians, there is a physician shortage crisis at hand. Hiring a Physician Assistant or Nurse Practitioner is a wise and often necessary option to explore. Finding the right fit for your practice, however, can sometimes be confusing or tedious. That’s where PremierMedJobs.com and myself can be of greatest assistance.
Do you want more information on how hiring a PA or NP could help benefit your practice? Do you want me to personally guide you with details regarding hiring, salary, benefits, etc regarding Physician Assistants or Nurse Practitioner? Just reach out to me and let’s talk!