NPs are all Registered Nurses with advanced degrees.
Nurse Practitioner positions differ from many other occupational positions because most NPs are able to arrange and negotiate work contracts with employers. NPs that are contract employees can bargain and barter with a prospective employer when it comes to job conditions and benefit packages.
Contract Negotiation
NPs cost less to staff than doctors.
From an employer's perspective hiring a nurse practitioner is a more cost effective alternative than having to pay a physician. According to Health Care Salary Online, an NP can perform the same tasks as a doctor except when a patient may require complex medical management or specialized treatment. Contract NPs get to negotiate the salary and terms of the contract, which is a huge fringe benefit.
Health Insurance
Since NPs can negotiate contracts with employers, health insurance becomes a big fringe benefit. Many NPs negotiate and pay minimal costs to nothing for health insurance, saving them thousands of dollars each year--a valuable benefit as health insurance costs are rising for employees and employers.
Continuing Education
Another benefit NPs can ask for is full- or partial-tuition reimbursement for nursing courses and money towards any future continuing-education courses. Putting a value on this is impossible, but it can be worth tens of thousands of dollars over the length of a career.
Other Benefits
Having annual fees and expenses covered saves NPs a lot of coin.
Employers may pay for license renewal fees, malpractice insurance, life insurance, retirement plans, vacation, disability, dental, holiday and vision benefits. All of these combined, if negotiated within the contract, can save employees tens of thousands of dollars a year. Granted, the more fringe benefits negotiated into a contract, the less the salary is likely to become.
Work Conditions
For contract NPs, work load and schedule are important aspects during negotiation. NPs have an advantageous mix of job security, opportunity and flexibility as opposed to other professions. It is not uncommon for NPs to negotiate the amount of work hours or a maximum number of patients to treat into contracts.
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