Nurse Entrepreneur
What is a Nurse Entrepreneur?
Nurse entrepreneurs use their professional nursing experience and education to start their own businesses in the healthcare industry. Businesses established by nurse entrepreneurs may involve developing and selling a home health product or medical device. Alternatively, they may offer independent nursing services, such as patient care, nursing education, home health, and/or consulting services. A nursing career path that offers independence and autonomy, becoming a nurse entrepreneur requires creativity, hard work, and strong business skills.
How to Become a Nurse Entrepreneur
Nurse entrepreneurs work for themselves; therefore, the skills required for this position vary depending on the nature of the business venture. In general, the following skills and qualifications are beneficial for nurse entrepreneurs:
- ADN or BSN degree and valid RN license
- Prior professional nursing experience within the relevant area of specialty
- Basic business skills and knowledge (e.g., accounting, marketing, ability to manage staff)
- Good communication skills for interacting with customers, patients and employees
- Ability to work independently and willingness to take on personal financial risk
What Are the Schooling Requirements for a Nurse Entrepreneur?
As in other nursing careers, aspiring nurse entrepreneurs begin their careers by completing their Associate's Degree in Nursing (ADN) or Bachelor of Science in Nursing (BSN) degree from an accredited nursing school and passing the NCLEX-RN exam. In addition to the standard nursing education, nurse entrepreneurs benefit significantly from obtaining important business skills such as marketing, accounting, and managerial techniques. An aspiring nurse entrepreneur often then begins work as a professional nurse in order to learn the industry and discover business opportunities within it.
While an advanced degree is not typically required for nurse entrepreneurs to start their own business, some nurses may consider a dual master's degree program in nursing and business administration (dual MSN/MBA), in which students complete their Master's of Science in Nursing (MSN) and Master of Business Administration degrees simultaneously.
Learn more about an MSN in Executive Nurse Leadership.
Are Any Certifications or Credentials Needed?
There are no specific certifications or credentials required for becoming a nurse entrepreneur. However, a nurse entrepreneur may find certain certifications valuable based on the nature of their business. For instance, a nurse who runs a home health company and provides patient care may wish to hold the Basic Life Support Certification (BLS) from the American Heart Association or American Red Cross.
What Does a Nurse Entrepreneur Do?
A nurse entrepreneur uses his or her background in professional nursing to start their own business within the healthcare industry. Business ventures established by registered nurses run the gamut from medical devices and home health products to independent nursing services such as patient care, nursing education, home health services, and consulting work. The day-to-day responsibilities of a nurse entrepreneur depend upon the specific venture but usually include activities related to running a business, including accounting, marketing or sales, and developing a customer base.
Where Do Nurse Entrepreneurs Work?
Nurse entrepreneurs may work in a variety of settings, including offices where they run their own business, as independent nurse contractors in hospitals or clinics, in home healthcare where they visit patients, or as nurse educators. They have the freedom to set their own hours and the flexibility to determine their own work environments based on the company they establish.
What Are the Roles and Duties of a Nurse Entrepreneur?
- Use nursing education and experience to establish their own business venture within the healthcare field
- Promote the business, including advertising and sales efforts to attract and retain customers
- Hire and manage employees to assist in running the business as needed
- Tend to the financial side of running a business, including accounting, payroll, and taxes
- Provide healthcare products or nursing services, which may include direct patient care, education, or consulting services depending on the nature of the business
Nurse Entrepreneur Salary & Employment
An increasing number of nurses are enjoying the benefits of self-employment. While salary can vary widely based on the specifics of their business ventures, many nurse entrepreneurs are also independent nurse contractors who set the terms of their services and negotiate their salary with a healthcare facility, such as a hospital or nursing home. While more unconventional than traditional employment, a career as a nurse entrepreneur can be more profitable than a standard RN position. There is very little data on actual nurse entrepreneur salaries, but in general, here is a range you might be able to expect if you decide to enter this field:
| Average Annual Salary | |
| Lowest 25% of Earners | $64,200 |
| Median | $75,628 |
| Top 25% of Earners | $93,900 |
| Top Earners | $123,128 |
Helpful Organizations, Societies, and Agencies
- National Nurses in Business Association
- American Organization of Nurse Executives
- American Nurse Today Magazine
- Small Business Administration
