On October 20-21, 2023, Sunrise NPPA Derm is hosting a dermatology and procedures conference in sunny St. Pete, Florida. Current and future dermatology-minded advanced practice providers (APPs) will come together for an agenda that includes topics like atopic dermatitis, hidradenitis suppurativa, live demonstrations and procedure workshops, and more.
This conference is all things skin. So why is Sunrise NPPA Derm President Patricia Delgado talking about income streams, passive income, and income diversification?
We’re glad you asked.
The answer? Because as APPs diversify their livelihood, they take back the power to practice in a way that is true to their values as a provider and as a human being.
THE TRAJECTORY OF THE HEALTHCARE SYSTEM
Healthcare is an evolving landscape, and its complexities are far more than skin deep. The rising presence of private equity and venture capital firms in our healthcare system combined with the ever-challenging insurance and reimbursement realities often result in APPs being constantly tasked with MORE.
Nurse practitioners and physician associates are asked to see more patients – 40 in a day is not uncommon (in fact, it’s not even the max). They are asked to churn patients in and out, to hustle more, to pick up more shifts, to cover more call.
APPs contribute enormously to companies’ and systems’ revenue, and yet the joy of practice is often lost as they have to compromise on their preferences and priorities as a quality healthcare provider.
When APPs depend on a single employer to put food on their table, pay their bills, put gas in their cars, and generally survive, they also become trapped by a system that may not align with their values as a healthcare provider.
It is hard to stand up for your priorities, your goals, your values, or your career trajectory when there is a fear of losing your income source.
The power of multiple income streams lies in the CHOICE that those streams indirectly provide.
An APP whose livelihood is supported by varied channels of cash flow can confidently negotiate for practice adjustments. They can be okay saying no, or stepping back from a position, or escalating concerns within their chains of command, because their ability to provide for themselves and their families is not dependent on a single salary.
In short, an APP with diverse streams of income, including passive ones, can provide healthcare in ways that align with their values, unaffected by the tides of the healthcare sea that unfortunately impact the ability of many providers to practice in the way they envisioned as trainees.
MORE AND MORE CONVERSATION ABOUT INCOME STREAMS AND APPs
Let’s bring it back to the intersection of a dermatology conference and APP income.
At the 2023 Sunrise NPPA Dermatology and Procedure conference on October 20-21, President Patricia Delgado, DNP, APRN-IP, DCNP and her team made sure that their conference agenda included sessions that support both the clinical learning of dermatology NPs and PAs as well as the personal/professional aspirations of those same APPs.
The agenda includes sessions like “Business Sense: Marketing Yourself as a Brand and Building Your Business,” with Stephanie Simmerman, DNP, APRN and “Own Your Future: Building Financial Confidence and Security” with Melissa Walsh, CFA, CFP, AIF.
We are seeing more and more nurse and APP leaders promote, support, and advocate for nurses and APPs to change their careers and their lives through entrepreneurship and income diversification. Conferences all over the country are integrating education around these concepts into the conferences.
Nurses and APPs are incredible experts and thought leaders. They are the backbone of our healthcare system. And they are starting to recognize it and support each other in changing the tides.
Diversify your income and watch your power to provide the incredible care you are so capable of and so passionate about return 10-fold. And as a bonus, enjoy the lifestyle benefits that come with decoupling your livelihood from a single employer as its source.