Mental Health Care Services

What will you say to them to convince them that you have a good idea, that your services will be a valuable addition to the community, and that you have the business skills to run a practice successfully?

I will tell the investors or a local banker about the importance of increased access to mental health care services. There is a degree of inequity in access to mental health care in our society, and our community is not exempt. Increasing patient outcomes will require reaching out to patients earlier in their illness, helping them acknowledge their mental health needs, and encouraging them to be actively involved in their care (Alegría et al., 2018). I will inform them that there is only a handful of psych and mental health (PMH) advanced practice nurses (APNs) in our community of over 45,000 people. Therefore, having my services as a PMH APN would be a valuable addition to the community to increase access to mental care services. I will inform them of my five-year clinical background as a psych nurse, my learning experiences from already-established PMH APNs, and my internal drive to fulfill my vision of providing high- quality mental services to the community.

I will tell the investors or local banker that I have an MBA in Healthcare Management, that I have experience in being a part of a management team for a home care services company, and that I will continue to strive to gain knowledge and skills to help me succeed as a business owner. I know that establishing a new successful practice will require implementing evidence- based practice while delivering direct patient care with an eye for cost reduction, positive patient outcomes and satisfaction, and revenue generation (Tracy & O’Grady, 2019).

Discuss marketing, start-up funds, items needed for your practice, etc.

I will need to lease/rent a confidential space with a meeting room, a waiting room/lobby, and an office room. I will purchase the technology necessary for the practice: a computer with a website hosting domain, a secure email account, a patient practice management system to ensure HIPAA compliance and security, a designated phone line with fax capability, and a copy/scan/fax/printer system. I will hire a practice administrator to help with day-to-day operations while I meet with clients and handle significant business operations and decisions (Allan, 2019).

I will need a marketing plan to attract clients. My targeted clientele is across the lifespan, from children to adulthood. I will create a social media page to publicize my new business.
Technology and SM are booming and evolving, so I will take advantage of this no-cost marketing plan. I will join one of the professional PMH APN groups to network with other peers and build referrals and use word-of-mouth to spread information about my practice. I will budget a small amount for print marketing to reach more potential clients.

For the first year, I estimate I will need about $5,000 for start-up costs of the expenses listed above. I expect to break even within the first six months, then start making a profit afterward.

References
Allan, J. (2019, December 29). How much does an elite NP side practice cost to start? The Elite Nurse Practitioner. https://elitenp.com/how-much-does-an-elite-np-business-cost-to-start/
Alegría, M., Nakash, O., & NeMoyer, A. (2018). Increasing equity in access to mental health care: a critical first step in improving service quality. World Psychiatry: Official Journal of the World Psychiatric Association (WPA), 17(1), 43–44. https://doi.org/10.1002/wps.20486
Tracy, M. and O’Grady, E. (2019). Hamric and Hanson’s Advanced Practice Nursing: An Integrative Approach. (6th ed.). Elsevier Health Sciences
(US). https://bookshelf.vitalsource.com/books/9780323447751