Fair collaborating physician fees for nurse practitioner collaborations

– The specific duties that NPs are allowed to carry out vary from state to state, though generally include assessing, diagnosing, and treating patients as well as prescribing medications. – Regardless of the state’s exact requirements for supervising physicians, collaborating with an NP involves time, effort, knowledge, medical decision-making, and risk.

Collaborating  physician fees

Compensation for collaborating physicians varies greatly.  What constitutes a fair fee depends on many factors, such as: – The NP’s type of practice, – The volume of patients seen by the NP, – The requirements of the physician, – The NP’s need for consultation, – and others.

Compensation Model

The compensation model can take on several forms. Common ones are: – A flat fee (usually monthly), – An hourly rate, – A fee per chart reviewed.

– It’s hard to say in advance how much time your collaboration will take you every week or month. This can vary depending on the hours worked by the NP, how autonomously they work, how many patients they see, and how complicated those patients are.

- Your agreement may require you to be available for consultation during the NP’s clinic hours. Or even 24 hours per day, 7 days per week. Even if you don’t get called often, that’s a big commitment. – Moreover, you take on liability as a supervising physician. And your medical license is ultimately on the line. These factors need to be considered when determining your fee.

Determining the cost for collaborating physician services

– For full-time NPs who are making treatment decisions and writing scripts or performing procedures, closer to $2000 per month would be in the ballpark of a reasonable fee.

– But each collaborative agreement is different. – I’m aware of a large national healthcare payor with a home visit program that is currently offering $400 per month to physicians supervising a part-time NP.

You also need to determine what out-of-pocket costs will be associated with the collaboration from your end. Find out if the NP’s organization covers: – Malpractice insurance – State collaborative practice fees – Other expenses such as cost of travel for clinical visits.

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