34% of NPs Are Starting Or Considering Starting Their Own Private Practices, Study Finds

In recent years, the healthcare landscape has been shifting to meet growing patient demands, and nurse practitioners are stepping up to play a larger role in providing accessible and high-quality care. Nurse.org’s 2024 Nurse Practitioner Survey found that 34% of nurse practitioners surveyed had either already opened or were planning to open their own private practices.

The survey included responses from 317 nurse practitioners across various specialties and regions. Among the most notable findings was that over one-third of respondents indicated they have either opened a private practice or are actively making plans to do so in the near future.

As many states work to expand NP practice rights and scope, NPs are increasingly empowered to operate independently, offering essential healthcare services directly to patients.

NP Specialties Believed to Have the Highest Private Practice Potential

The survey also explored which specialties nurse practitioners believe have the greatest potential for private practice. When asked which areas they thought were best suited to a private setting, NPs cited aesthetics, weight loss, direct primary care, medical wellness, and psychiatry as the top choices. 

 

Challenges to Opening an NP Private Practice

While the survey shows a strong interest among NPs in private practice, there are still obstacles that some face in making this transition:

• Legal and Regulatory Barriers: Despite progress, many states still have reduced or restricted practice environments, limiting the ability of NPs to operate independently.
• Financial Constraints: Starting a private practice requires significant upfront investment, including costs for office space, equipment, insurance, and administrative support. Some NPs may also need to take out loans or find investors to fund their practice.
• Administrative Workload: Managing a private practice comes with administrative tasks that include billing, insurance claims, and regulatory compliance, which can be burdensome for those transitioning from clinical roles.
• Insurance Reimbursements: NPs may face challenges with insurance reimbursements, as some insurers have reimbursement rates for NPs that are lower than those for physicians. This issue can affect the financial viability of an NP-led practice.

Impact on the Healthcare System

As more NPs transition into private practice, the implications for the U.S. healthcare system are significant:

• Increased Access to Care: In areas where healthcare access is limited, NPs who open private practices are often able to serve patients who would otherwise face long wait times or travel long distances for care.
• Reduced Strain on Emergency Services: By providing primary care, preventive services, and chronic disease management, NPs in private practice can help reduce the number of non-emergency visits to hospitals and urgent care centers.
• Patient-Centered, Holistic Care: Many patients report high satisfaction with the quality of care they receive from NPs, who often emphasize a holistic, patient-centered approach. This focus on personalized care can contribute to better health outcomes and improved patient satisfaction.