Business For Nurse Practitioners? Yes! The NP Business Matters Podcast is all about the business of being an NP. From getting a job to starting your practice, from discovering your leadership potential to everything else in-between, it's all fair game. Grab a cup of coffee and join Barbara C Phillips, NP, FAANP, the NP Business Coach, and her guest for an adventure. Discover what's possible…
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Healing arts practitioners and clinicians (NPs, PAs, CNSs, CNMs, CRNAs) need and want to learn more about or how to incorporate a holistic, integrative care component into their lifestyle, their clinical practice or entrepreneurial health & wellness business. The information shared here can be useful for self-care as a professional and for professional education. Practitioners need to learn more than the service they provide but also the business of health and wellness and self-care These co ...
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Episode #95 Using an AI Scribe in your Practice.
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If you were presented with the idea of having a scribe do all your documentation, would you do it? If you are like most healthcare providers, you would jump up and down for the opportunity. Documentation is the least favorite activity for nearly all providers. Enter the healthcare AI (Artificial Intelligence) scribe. It’s a tool that can save you h…
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Episode 93 Finding and Staying in Compliance with Collaborating Physicians
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As nurse practitioners (NPs), we often find ourselves navigating a complex relationship with collaborating physicians. While collaboration is essential for optimal patient care, the requirement for formal collaboration agreements in some states has sparked debate within our profession. Find us on Social: Facebook: https://www.facebook.com/NursePrac…
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Episode #92 An interview with Sharon Burch
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When thinking about business, the vast majority of nurses and nurse practitioners start with the idea of doing something that utilizes the professional skills they have developed. That makes sense, you spend years getting your education and developing your skills and talents, why not use them? And use them you can...though perhaps in different ways…
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091 HIPAA Violations and Small Practices
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HIPAA violations don't just happen to large corporations and small practices are being increasingly evaluated for breaches. Here are the 5 most common violations experienced by small practices and their consequence. Full show notes --> NPBusiness.org/91 Find us on Social: Facebook: https://www.facebook.com/NursePractitionerBusiness Instagram: https…
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Episode #90 Inside NPBO: A Sampler
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Have you ever wondered what goes on side the NPBO Private Community? Let's take a look. Show notes at NPBusiness.org/90 Find us on Social: Facebook: https://www.facebook.com/NursePractitionerBusiness Instagram: https://instagram.com/barbaracphillips YouTube: https://YouTube.com/NPBusinessAv Barbara C. Phillips, NP, FAANP
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#89 Specific Coding is good for patients and business
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We all want to understand coding better, right. In this episode, I talk with Alicia Scott, CPC, CPC-I, CRC about how better coding helps us and our businesses. Check it out, and the show notes and links at https://NPBusiness.org/89 Find us on Social: Facebook: https://www.facebook.com/NursePractitionerBusiness Instagram: https://instagram.com/barba…
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Episode #88 What To Do About Patient Balances
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Do you have a fair amount of outstanding patient balances and difficulties collecting? Well, you’re not alone. It’s common, particularly in small practices, to struggle with collecting money from patients. Most patients never blink an eye when asked for their co-pay, deductible, or other balances. They do everything they can to pay on time and in f…
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Episode #87 Corporate Transparency Act
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Lots of questions have been coming my way about the CTA and filing your Beneficial Ownership Information. Who is this for, why, when and what. I recorded this originally as a video which you can see on our blog or on our YouTube Channel. Bottom line is if you have a business...this is for you. https://npbusiness.org/87 Find us on Social: Facebook: …
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Episode #86 Embezzlement in Your Practice
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One of the few things we want to face in our business is that employees will steal from the practice. Afterall, we are there to provide a service to the community, so who would steal? On average, practices that experience this, lose approximately $450,000 a year! In this episode of the NP Business Matters Podcast, we'll talk about what is going on,…
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Everyone, including healthcare workers, are targets for fraudsters. Learn tactics scammers use and gain the knowledge to protect yourself, your license, and your practice. Don’t be a victim. Stop by https://npbusiness.org/85 and share your story, plus get links to the resources mentioned in the podcast. Find us on Social: Facebook: https://www.face…
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Collaboration Issues continue to plague Nurse Practitioners. How can you avoid some of the problems, pitfalls, and issues? Listen to learn more. https://NPBusiness.org/84 for all the resources and leave your comment! Find us on Social: Facebook: https://www.facebook.com/NursePractitionerBusiness Instagram: https://instagram.com/barbaracphillips You…
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Episode #83 Success Tips for NP Business Owners
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Have you ever wondered what success tips nurse practitioner business owners would share with you? Well, here they are. I recently asked Nurse Practitioner business owners to share some of their top success tips for those who are thinking about starting and growing their own practices. So in this episode of the NP Business Matters podcast, I blend t…
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Episode #82: Key Considerations When Purchasing a Practice
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Purchasing a practice is one way in which nurse practitioners and other clinicians will start a practice. However, unless you approach it with eyes wide open and the appropriate professionals at your side, you may find it was not the wisest of choices for you. In episode #82 of the NP Business Matters podcast, I discuss 12+ key considerations worth…
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Episode #81 Are you really an Independent Contractor?
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If you are not sure if you are an independent contractor or not, don't worry, you are not alone. Employment laws are not always clear, and as I examine both the IRS 20-point checklist as well as the ABC rules which should simplify things, you'll see that for Nurse Practitioners, it's full of grayness. Here's what to do next: Share this important ep…
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The healthcare landscape is evolving, with nurse practitioners (NPs) pioneering a diverse range of practice models, from insurance-billing entities to cash-only ventures. Amid these choices, a pivotal question emerges: What's the significance of a corporate National Provider Identifier (NPI-2) for NPs, irrespective of their billing approach? Show N…
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Episode #79 Moving Past Analysis Paralysis to Start Your Practice
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Just what is analysis paralysis and how can it sabotage your practice startup? Analysis paralysis refers to the state of overthinking, and excessive analysis to the point where moving forward is quite difficult. The choices and decisions can be endless, and in the end, we are fearful of being wrong in our choices. This is not something that affects…
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Episode #78 Do you Worry About Getting Audited?
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Just thinking about getting audited puts some practice owners in a state of panic. Why would someone audit me? What could they be looking for? What if they find something? What if I made a mistake? What could happen to my practice? How can I prepare for an audit? These might be just some of the thoughts that worry them. So… best to meet the medical…
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Episode 77 - NPs & Professional Liability Insurance: Getting it Right
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Professional liability insurance, also known as malpractice insurance, is a crucial component of protecting nurse practitioners (NPs) in their practice. Whether you're a business owner or employed by someone else, having your own policy is essential. Even if your employer provides coverage, it's important to evaluate the terms as it often prioritiz…
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Episode #76 - Why am I talking about Job Hunting?
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Job Hunting Dos and Don'ts: Essential Advice for New Graduate (and Seasoned) NPs It's not infrequent that I receive questions from new and recent grads about starting a practice because they cannot find a job and they want and need to work. While I also get those questions from seasoned NPs, it's more concerning from those with little to no experie…
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Episode #75 The Dark Side of Medicare Advantage Plans
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The advertisements sound great to patients. Providers often think Medicare Part C, or Advantage plans are just like Medicare. But they are not. Listen in to learn more as Barbara Phillips asks several questions of reimbursement expert, Don Self. The Video interview is also available on our blog (link below) and on the @NPBusiness YouTube channel. h…
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First of all, Happy Nurses Month. Make no mistake, you do indeed make a difference for us all. As a veteran nurse, I'm sharing my thoughts. Take and listen, and then share your thoughts at NPBusiness.ORG/74 Find us on Social: Facebook: https://www.facebook.com/NursePractitionerBusiness Instagram: https://instagram.com/barbaracphillips YouTube: http…
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073 Navigating Out-of-Network Billing for Nurse Practitioners.
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In this episode of the podcast, Don Self and I discuss out-of-network billing including: The differences between in-network and out-of-network billing, as well as the advantages and disadvantages for providers and patients. The importance of understanding the patient's insurance policy, setting fees accordingly, and choosing whether to file the cla…
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Episode #72 Should you treat friends, family & staff
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Do you ever get requests to provide medical treatment for friends, family, or staff? Many providers get that on a regular basis, in the office, and at social and sports events. But the question is, should you? This episode of the NP Business Matters podcast was inspired by an NPBO™ Member who was looking for a policy on treating staff in her practi…
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#71 Maximizing Revenue in the Nurse Practitioner Practice
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Owning a nurse practitioner practice can be both rewarding and challenging. While providing high-quality care to patients is always the top priority, increasing revenue is also essential to keep the practice running smoothly. For nurse practitioner practice owners who are looking to boost their income, there are several strategies they can implemen…
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Episode #70 The Nurse Practitioners guide to finding the perfect CPA for your practice.
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Looking for the perfect CPA for your nurse practitioner practice? This episode of the NP Business Matters podcast gives you tips and advice on finding the right professional to help you navigate the complex financial landscape of your practice, from choosing the right business structure to ensuring your taxes are filed correctly. Learn what to cons…
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Episode #69 Medicare Non Participating Provider Status for NPs
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The whole idea of having non-participating provider status with Medicare is because it looks like you will not lose as much in revenue. But let's look more closely at this from the perspective of the Nurse Practitioner. Show Notes & Video: https://npbusiness.org/69 Find us on Social: Facebook: https://www.facebook.com/NursePractitionerBusiness Inst…
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#68 The Benefits of Purchasing Used Medical Equipment
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When it comes to medical equipment, the cost is a major factor to consider. Used medical equipment can be an excellent option for nurse practitioners just getting started in their own practice as well as established practice owners. In this episode, I talk about the upside of purchasing used medical equipment, what to look for and where you might f…
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#67 An Update on California's AB-890
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California passed a law, AB-890, effective January 1, 2023, giving NPs in their state more autonomy than they previously enjoyed. It’s being implemented in a stepwise fashion. And like many laws, it’s rather confusing for everyone involved. On January 12, 2022, NPBO was lucky enough to host a webinar with Melanie Balestra who is a nurse practitione…
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Episode #66 Let's Talk Self Publishing
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Not our usual topic of discussion, but an important one never-the-less - self-publishing. Why? I've been advised for years that having your own book was something that all business owners should do, that it helps establish you as an expert in your field, and this idea is just as true for clinicians as it is with other types of business owners. Sinc…
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Episode #65 - FAQs of Opting Out of Medicare
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Opting out of Medicare has caused a lot of confusion for NPs and other providers. Not understanding what it means can lead to problems & fines. In this episode of the NP Business Matters Podcast (Episode #65) I address: The Social Security Act and how that impacts providers. When you can bill Medicare and when you don't have to. What it means by op…
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Episode #64 3 Steps you can take today to Protect your Practice
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Is it a recession? A slow down? Something else? Regardless, NPs need to understand how to protect their practices and even thrive. The news is quite unsettling these days on many fronts and there is a lot of talk in healthcare about the economy and if, when, and how it will impact healthcare and healthcare practices. Show notes: https://npbusiness.…
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Episode #62 Why You Can't Bootstrap without the Boots
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It’s not uncommon that NPs approach business with the idea that they can bootstrap their business. Indeed, if you do an internet search, you’ll find tons of articles on how to bootstrap your business. Indeed, there are many companies that did their startup this way. However, it just means they did not go after investors. They still have some startu…
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Episode #62 What Type of Insurances Do You Need for Your Practice
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There are several different kinds of policies and areas of coverage when it comes to business insurance. For practice owners, this can get a bit confusing. In this episode #62 of the NP Business Matters Podcast, I'm talking about the different kinds of insurance, why you might want to have them, and where to find them. I'll also talk briefly about …
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In this episode of the NP Business Matters Podcast, I talk about Better Billing Habits If you are billing third-party payers, chances are you’ve run into a glitch or two. It might be time to take a look at your process, which will not only help you streamline what you are doing but just might reduce some of the problems. Let us know on the show not…
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In this episode of the NP Business Matters Podcast, I talk about the different ways you can fund your Nurse Practitioner practice. And while it was all about funding for start-up, I do mention AR funding, which is more of a funding source when you are already in business (oops!). Show notes on our blog at https://NPBusiness.org/funding Upcoming Web…
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#58 Starting Your Practice With a Framework
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Starting a practice is not an easy thing to do, nor is it a linear process. There are several moving parts, Many things are happening all at once and they are often interdependent on one another. That's where a framework comes in. Show notes & video version: https://NPBusiness.ORG/framework Workshop: https://NPBusiness.ORG/workshops Find us on Soci…
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Episode #57 6 Habits That Hurt Your Practice
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There are 6 habits that practice owners have, often for the sake of time, that will hurt their practices. It's widely known that most businesses fail because of poor cash flow. These 6 habits directly contribute to negatively impacting your practices' financial health. Show notes: https://npbusiness.org/habitsthathurt NPBO™ Workshops: https://npbus…
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#56 Business Structures for the Nurse Practitioner
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Business structures sometimes confuse new business owners, including nurse practitioners. This video gives an overview of what to consider, and what in my opinion, to avoid. The blog post and show. notes are here: https://npbusiness.org/businessstructure Find us on Social: Facebook: https://www.facebook.com/NursePractitionerBusiness Instagram: http…
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#55 Do you know these numbers? PayMix and Cost per Patient
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Cost per patient and payer mix are among the top numbers you need to track when we talk about knowing your numbers. It can make the difference between a practice that is financially solvent and one that is struggling. When I asked a group of NPs, they did not know the answer. It does not matter what kind of practice you have, you must understand yo…
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Have you ever wondered if your license was at risk? Nurse practitioners find their licenses, NPI's numbers, and ability to write prescriptions are valuable to many who do not have the protection of our licenses in their hearts. They are often more concerned with their own profits and meeting their needs. Unfortunately, this happens way to often. Li…
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Episode #53 What Does it Cost to Start a Practice
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Nurse Practitioners often ask in our Facebook group, what does it cost to start a practice? As you might expect, the answers that group members give are all over the board. The question is essentially impossible to answer without further information. There are a lot of variables involved. What kind of practice? Where is it located? What is the size…
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You want to start a business as a nurse or nurse practitioner and yet, you don't want to be in clinical practice. What should you do? In this episode of the NP Business Matters podcast, I talk about things you can do that are other than clinical practice. On the other hand, if you are interested in clinical business ideas, make sure you listen to e…
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Episode #51 Clinical Business Ideas for Nurse Practitioners
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Do you ever find yourself trying to decide what kind of business you want to start? You are not alone in that. It's a question many nurses and NPs ask themselves. In this episode and the next of the NP Business Matters podcast, I'm discussing and giving you a lot of ideas. Today we'll discuss clinical business ideas, and in the next episode of the …
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A few weeks ago I wrote a blog about creating a fee schedule for your practice. (linked below). It generated a lot of questions, and frankly some confusion. This video is to help clarify that article, and do give you a demo on just one way you can create your own practice's fee schedule. Shownotes: https://npbusiness.org/revisiting-the-fee-schedule…
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049 Latrina Walden on Business and Education
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Meet Latrina Walden. She is a nurse practitioner, educator, business owner, and former healthcare administrator. a healthcare administrator turned nurse practitioner. Her approach to business and education is different in that she came to nursing from that background of being a healthcare administrator is a highly regulated and understaffed area of…
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How to Create a Financial Policy for Your Practice
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A solid financial policy will do wonders for your practice. It will guide you and your staff as well as your patients on how to do business with your practice. It can help stabilize your cash flow. And it can keep you in compliance. In this episode of the NP Business Matters podcast Barbara talk's about: Why this is one of the very first policies a…
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#46 Cash vs Insurance Based Practices - Pros and Cons
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Today I’m talking about the pros and cons of taking insurance vs having a cash-only practice. While this is just an overview, the goal is to give you some things to think about. One is not inherently better than the other. This is a question that comes up frequently in our FB group and many of the answers lack the depth needed to make an informed d…
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Episode #45 Rural Primary & Rheumatology Practice with Katy Searle
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What is it like to own your own practice in rural Idaho? Meet Katy Searle, FNP-BC. She practices primary care and rheumatology in a town of just over 400 people. The successful practice she has built has brought people from all around. But, it wasn't always this way. And in fact, when she wanted to purchase the practice from the owners that saw it …
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Episode #44 Functional Medicine in Primary Care
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Functional Medicine practices are very popular among nurse practitioners. In today's episode of the NP Business Matters Podcast, I speak with Erin Bagshaw, NP, who believes the future of primary care is functional medicine. Erin's practice was established in 2004 and was the first NP-owned primary care practice in the Washington, DC area. She discu…
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#43 NP Hospitalist with Ellen Harris
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Every business needs to address a problem, and that is just what Ellen Harris, FNP did when she created the nation's first NP Hospitalist group. More at https:/NPBusiness.org/hospitalist Find us on Social: Facebook: https://www.facebook.com/NursePractitionerBusiness Instagram: https://instagram.com/barbaracphillips YouTube: https://YouTube.com/NPBu…
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