Contract negotiation as a nurse practitioner is not something APRNs are taught in school. It can feel overwhelming, create feelings of imposter syndrome, and surface inner insecurities. Not to mention, many nurse practitioners do not know how to negotiate a contract.
Contract negotiation as a nurse practitioner can be a daunting task, but it’s an important step in ensuring that you’re fairly compensated and provided with a work environment that meets your needs.
What is a nurse practitioner contract?
Unlike working as a registered nurse (RN), many nurse practitioners have employment contracts. A nurse practitioner employment contract is a legal agreement between a nurse practitioner and an employer that outlines the terms and conditions of their employment. The contract will typically cover important aspects of the job, such as the nurse practitioner’s duties, compensation, benefits, work schedule, and the duration of the employment.
The contract may also include details on the nurse practitioner’s scope of practice, liability insurance, and any continuing education or certification requirements. It may also address issues such as termination of employment, non-compete clauses, and confidentiality agreements.
If either the employer or the employee does not uphold the contract, legal actions can be taken. It is important to understand the parts of a contract, red flags to be aware of, and know which components can be negotiated. It’s important for nurse practitioners to carefully review and understand the terms of their employment contract before signing it, as it will serve as the basis for their working relationship with their employer.
Contract negotiation as a nurse practitioner is an expected practice for this type of position. Remember as a nurse practitioner, the employer needs you to see patients and bill for services rendered. This is how the nurse practitioner generates income for the healthcare institution and allows the practice to continue to be in business. The employer needs you just as much as you need them. Whether you’re negotiating your first contract (as a new employee) or renegotiating an existing one, here are some tips to help you through the process.
The 5 Knows of Negotiation
Before we look at the specific tips for contract negotiation as a nurse practitioner, I want to discuss the overarching theme of these tips. Nurse practitioners need to utilize the 5 knows of negotiation.
The 5 knows of negotiation include:
- Know the employer
- Know the numbers
- Know yourself
- Know your limits
- Know your plan
These 5 knows of contract negotiation as a nurse practitioner help NPs be well prepared. Nurse practitioners should take the time to reflect and think about these 5 knows of negotiation. The following tips stem from these 5 knows of negotiation.
For more information about The 5 Knows of Negotiation, check out the online course: Contract Negotiation for Nurse Practitioners.
Tips for contract negotiation as a nurse practitioner
Do your research
Before you begin negotiating your contract, do your research to ensure that you understand the market and the value of your services. This will give you a better understanding of what to expect in terms of compensation, benefits, and other aspects of your contract. You can research online, consult with professional colleagues, and talk to other nurse practitioners to get a sense of the current market. Here is another article: How knowing the numbers adds leverage to contract negotiation as a nurse practitioner.
Understand the terms of the contract
It’s important to read and understand the terms of your contract before negotiating. Make sure you’re clear on the responsibilities of the job, your hours of work, the length of the contract, and any other relevant details. Ask questions if you don’t understand any part of the contract, and take your time to review it thoroughly.
Know your worth
It’s important to know your worth as a nurse practitioner and to advocate for yourself accordingly. Be confident in your skills and experience, and be prepared to provide evidence of your qualifications, such as your education and certifications. Make a list of your accomplishments and any specific contributions you’ve made to your previous employers to help demonstrate your value.
Be clear about your needs
When negotiating your contract, be clear about your needs and what you’re looking for in terms of compensation, benefits, and other aspects of the job. Make a list of your priorities and be prepared to discuss them with your employer. It’s important to be realistic, but also to be clear about what you need to feel valued and supported in your role.
Be open to compromise
Contract negotiation as a nurse practitioner is about finding a mutually acceptable agreement, so be open to compromise. It’s important to be flexible and willing to work with your employer to find a solution that works for both of you. This may mean negotiating what is most important to you in exchange for concepts less important. Be open to finding creative solutions that meet both your needs.
Consider the big picture
When it comes to contract negotiation as a nurse practitioner, it’s important to consider the big picture. Think beyond just the salary and benefits to the overall work environment. Think about the office culture (avoiding a toxic work environment), support systems available, and opportunities for growth and development. If you are a new grad nurse practitioner, do you have access to colleagues or resources to support your learning? You want to make sure that you’re entering into a contract that provides a positive work experience and helps you achieve your professional goals.
Get everything in writing
Once you’ve negotiated the terms of your contract, make sure to get everything in writing. This includes all aspects of the job, such as your responsibilities, hours of work, compensation, benefits, and any other relevant details. Having everything in writing ensures that both you and your employer are clear on the terms of the contract and can refer to it if any issues arise. Speaking from personal experience, getting everything in writing is very important.
Seek legal advice
If you’re unsure about any aspect of your contract or need help negotiating, seek legal advice from a professional who specializes in employment law. More specifically, a lawyer who understands the roles and responsibilities of a nurse practitioner. When I first started as a nurse practitioner, I had a lawyer review my contract. It turns out I educated him on the practice and roles of a nurse practitioner. The lawyer was helpful for generalized employment contract review, but I wish I would have found a lawyer who knew more about nurse practitioners. They can help you understand the legal implications of the contract and provide guidance on how to complete contract negotiation as a nurse practitioner.
In conclusion, contract negotiation as a nurse practitioner can be a challenging process, but it’s an important step in ensuring that you’re fairly compensated and provided with a work environment that meets your needs. By doing your research, knowing your worth, being clear about your needs, being open to compromise, considering the big picture, getting everything in writing, and seeking legal advice, you can successfully negotiate a contract that works for both you and your employer.
If you need more help with understanding contract negotiation as a nurse practitioner then check out Contract Negotiation for Nurse Practitioners.
This online, self-study course takes a deep dive into parts of a contract, what/how to negotiate, and even explains some of the phrases to use during the negotiation.
Contract negotiation for Nurse Practitioners helps NPs master the skills needed to feel confident, negotiate their worth, and create a contract that makes them happy!
Learn more at Contract Negotiation for Nurse Practitioners.
For time management and charting tips, check out The Nurse Practitioner Charting School– The one stop for all documentation resources created specifically for nurse practitioners. Learn more at www.npchartingschool.com
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