Empowering Nurse Entrepreneurs in a Healthcare Reform Environment

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1 Empowering Nurse Entrepreneurs in a Healthcare Reform Environment Dr. Daniel Berman DBA/HCA,MSN, RN, FACHE,FACATA,LHCRM CEO Center for Healthcare Thinking and Innovations Graduate Nursing Faculty Walden University

2 Center for Healthcare Thinkers and Innovations Dr. Daniel Berman, Founder and CEO of the Center for Healthcare Thinkers and Innovations and Professor of Healthcare Administration with Nova University and Walden University Contact Dr. Daniel

3 Dr. Daniel Berman Dr. Daniel Berman is a licensed registered nurse with a Masters in Nursing Leadership and Management and a Doctorate in Business with an Emphasis in Healthcare Administration. Dr. Berman is a licensed healthcare risk manager. In addition he is a Fellow of the American College of Healthcare Executives. Dr. Berman has held executive hospital positions and consulted with Community Health Agencies, Acute Care Hospitals, Mental Health and Substance Abuse Treatment Agencies and provider groups, as well as Government Healthcare, and Managed Care Agencies.

4 Empowerment of Nurse Entrepreneurs Being a Nurse Entrepreneur is more than making money If nurses do not worry about making money and just influence healthcare in the way that they wish than power and influence will come and the money follows Do What you Love and the Money will Follow, by Marsha Sinetar

5 Current Healthcare Trends Streamline Efforts to Understand ACA Join Professional Nursing Associations to gain access to legal Experts Network with healthcare professionals to expand knowledge base Expand communication with family members you serve. Initiate communication with health care experts

6 The Importance of Education and Certifications Many of my students who are getting DNP are saying that they cannot believe how much more they are being listened to. Certifications are important and can show credibility as well however they are not as credible as the education is. Develop credibility with additional training and certifications.

7 Nurses Positioning Any nurse who wants to be an entrepreneur can however the more business acumen you have the better your positioned. If you do not have the business acumen you can get this from seminars or you can find a colleague, family member, or friend who is a business person and create a partnership. If you want to partner with a nurse I would find a fellow nurse who also wants to be an entrepreneur who might be a nursing manager at the place where you work.

8 Healthcare Trends that are Occurring Hospitals and Acute Care Sites are downsizing and in 3-5 years there will be a decrease in bed size by at least 33% The patients who are going to be admitted with be with a much higher acuity The Economic Trend that is occurring is that a) Increased access to care because everyone has insurance b) Decreased Reimbursement(more lives to insure) c) A greater need to measure quality and outcomes d) So what that means is that we are doing more with less

9 Healthcare Trends There is a much greater focus on outpatient services There is much greater emphasis on taking care of specific chronic diseases with a population rate There is now reimbursement for health education and prevention For instance there is reimbursement now for Smoking Cessation Classes

10 Healthcare Trends STOP AND ASK: Technological Advances: new medical software Patient Care Ideas New Models of Care Any Questions?

11 Specific Opportunities for Nurse Run Businesses Hospitals and other healthcare facilities are cutting back on their staff development full time employees and are now looking for contractors (One idea is to develop a business where you organize a bunch of nurses with different clinical experiences and also types of facilities and you then market that to Long Term Care, Assisted Living. Rehabs, Psych facilities, Acute Care Hospitals etc.) Hospitals and other healthcare facilities are going to be looking for people with expertise in Nurse Informatics to help with the development of EHR

12 Opportunities for Nurse Run Business Because of the focus on Healthcare Quality and Risk Management Issues there is an opportunity to develop contracting work in Healthcare Quality and Risk Management. Because of the focus on home health there is an opportunity to develop a home health business. Recently the Wall Street Journal showed numbers that the fastest growth area for this business is the use of home health aides and the need for senior transportation to MD appt. (A nurse could hire on contact a bunch of CAN and then market the business)

13 My suggested Model I do not believe that you have to have a lot of money to be an entrepreneur Some business models start with having one business idea and then developing a business plan etc. The model that I embrace is the development of a solo or group practice with multiple sources of revenue as I discussed today

14 Opportunities for Nurses There is a mandate for nurse run clinics for NP in the ACA. Also because of the Price Points NP provide cheaper care. NP with nurse entrepreneurs can own and operate their own clinics and bill for patient care Because of our aging population there is a need for Geriatric Case Managers. These Case Managers are put on retainer and take care of senior citizen clients.(explain) Because of the rationing of care and the complex system of care there are need for paid patient advocates and Navigators

15 More Nurse Opportunities Nursing Leaders will be able to provide consultation on system development as the system develops into a community integrated care system. There are bioethical certifications and degrees that you can get. With the changes in healthcare there will be a need for these experts as clinical rationing occurs There will be a need for legal nurse consultants in the area of quality of care as a result of lawsuits with the reason being quality of services and rationing of services

16 Nurse Opportunities There will be an explosion of formal teaching opportunities for nurses both in an online environment. Nurses with ADN and BSN can teach nurses aides, surgical techs etc. at the career college level. MSN can teach in the AND or BSN in generic programs Doctoral can teach in any environment including DNP

17 Success Story of Dr. Daniel Berman I started out as an entrepreneur in 1985 with no specific clients, business or money. I put together several sources of revenue for several years. That lead to the creation of a consulting company for 12 years with multiple sources of revenue. Twenty plus years later my entrepreneurial practice involves income from a consulting firm, public speaking, writing, and teaching for several universities at the MSN and Doctoral Level in nursing and healthcare administration.

18 Empowerment Healthcare is a Jungle with multiple mines in the minefield My advice to you is to be high on the food chain So you re the lion eating and not the lions prey and food.

19 Eat or be eaten, it s a jungle out there! Center for Healthcare Thinking and Innovations

20 Contact Information Dr. Daniel Berman Center for Healthcare Thinking and Innovations Woodberry Lane Fernandina Beach, Florida Land Line Cell