lnr-logo

Home     Blog

Private Nursing Rates

Legal Nursing, Concierge Nursing, and Traveling Nurses. These are just a few of the independent operators who struggle with where to set their rates.

There are many benefits to using your nursing knowledge and expertise to work as an independent operator. Concierge nurses, for instance, provide personalized, high-quality healthcare services to a small group of patients, usually on a contract basis. They have fewer patients, more flexibility in scheduling, more time to each patient, and they usually end up being paid a higher per-hour rate than if they worked in the hospital.

But with that flexibility comes the stress of knowing exactly what you should you charging. Especially when a nurse first leaves the locked-in nature of salaries at hospitals, they can struggle with what to charge.

How much can your patients afford to pay? What rate of pay will allow you to be compensated for your skills and improve your own quality of life? And do those rates conflict? It can feel like a tug of war, especially if you live in a middle or lower-middle income area.

There are a few factors that independently operating nurses should consider when determining their hourly rate:

·      Market rate: It's important for the nurse to research what other independent nurses in their field are charging (specific to your metro area) in order to remain competitive.
·      Experience: Nurses with more experience may be able to charge a higher rate due to their additional expertise and training. This includes experience with a specific population. If you have years of experience working with  celebrities, for instance, that means you have a track record of respecting their unique circumstances and preserving their privacy. The same goes for people with schizophrenia or people with severe, life-threatening allergies. Use your specialized experience to carve out a niche in your targeted clientele.
·      Services offered: The nurse should consider what types of services they will be offering and how much time and effort these services will require. For example, a nurse providing more complex or specialized services may be able to charge a higher rate.
·      Overhead costs: The nurse should also consider any overhead costs, such as the cost of supplies and equipment, when determining their hourly rate. If you want to have an EKG machine as part of your mobile office, for instance, that piece of equipment doesn’t come cheap and you should account for it in the cost of your services.

It's important for the nurse to carefully consider these factors in order to determine a fair and reasonable hourly rate for their services. Even if they tend to be higher than what a patient would pay in an insurance premium plus copay, don’t let that dissuade you. Many patients are willing to pay more for private care vs. going to a traditional clinic or hospital. In addition to the personalized care we mentioned above, patients are also happy with the prospect of:

·      Flexibility: Private nurses may be able to offer more flexible scheduling options, including extended hours, to meet the needs of their patients.
·      Convenience: You will be able to provide services in the patient's home or other convenient location, which can be especially beneficial for individuals who have mobility issues or who live in rural areas.
·      Coordination of care: Private nurses can help coordinate care with other healthcare providers, such as specialists, to ensure that patients receive the most appropriate care.
·      Enhanced communication: Private nurses often have more time to spend with their patients, which can lead to enhanced communication and a better understanding of the patient's healthcare needs. Plus you can set up direct communication through texting apps.
·      Prevention: You will be in a better position to help patients adopt healthy habits and prevent illness through wellness visits and education.

It’s obvious that the market exists; it’s just a matter of 1) giving yourself permission to be paid for your time, your knowledge, and your expertise and 2) looking at your local service area and determining what the best rate is for your target market.

You know that legal nursing is my jam, but if you’re more interested in other types of concierge and private nursing, then I recommend Cash-Pay Healthcare: How to Start, Grow, and Perfect Your Business by Dr. Mark Tager.

 

It’s a great guide to get started as a business owner! Grab it here over on amazon ---> https://amzn.to/3XnTQLg

Leave a Comment