START YOUR LNC/EXPERT PRACTICE SMART
APRIL 18, 2022 | BY KATHLEEN MARTIN, RN, MSN, WCC
You can minimize your expenses as a legal nurse consultant if you are willing to listen to advice from those who have been there and done that.
Sad is the nurse who finishes a program and immediately begins to hemorrhage money – either to pay for that program, or for an accountant to track their future billing and give them tax advice, an attorney to set up their corporation, a separate phone line for the calls that might come in, stationery coordinated with business cards, postcards, and brochures that cost way more than they are worth.
With microsoft word, you can easily create your own stationery, business cards and envelopes. However, using the inexpensive print companies such as vistaprint or 123 print or shutterfly to name just a few might save you some frustration.
My LLC cost and business license cost…maybe $300; quickbooks keeps track of my income and expenses better than an accountant and is easy to use. I file my taxes as an addendum to my personal 1040.
For a small fee through bizfilings, you can file for an LLC, which my cpa advised some 20 years ago.
A successful business gives the customers what they want. Your customers are the attorneys. You cannot produce a work product for them until you know in advance their needs and expectations. What you need is to know is the attorney’s expectations in terms of billed hours. You may not know what to tell him. Having a fee schedule that is clear and specific, is invaluable to prevent misunderstandings.
Over time, you will develop report formats that works for you and a style of reviewing medical records that decreases the chances of missing important data. Until then, your business will grow faster if you concentrate on satisfying the attorney’s/customers’ needs.
All successful LNCs were new, afraid, skeptical, and unsure of everything. Insecurities never go away completely. But know that you have the credibility and experience as a nurse to succeed as an LNC/expert nurse.
There may be stretches when your phone doesn’t ring. That’s the time to reevaluate your strategies. Don’t curl up in a ball on the sofa however attractive that might be!
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