Reference no: EM131627798

To Comment:

Three important elements of Hamric's Model are business aspects, regulatory and credentialing requirements, and outcome evaluation and performance improvement.

If these three elements are continually monitored the practice will be more fulfilling, have more growth potential, and lead the industry (Hamric et al., 2014). Business, credentials, and outcomes were chosen because they have proven to be value-adding elements to outstanding agencies.

Nurses have so much influence in the business world; nurses are administrators, managers, and leaders. In clinical practice it is essential to display impeccable ethics and values. For example, when a NP operates a clinic, the challenge is to be profitable enough to pay salaries and vendors. Quality care and quality management will set the business apart from the competition (Ferrell et al., 2011).

Regulations and certain credentials are required in all organizations in order to meet internal, state, and federal requirements to practice and/or stay in business. In many agencies Human Resources is the forerunner to ensuring standards are met. APNs must have valid licensure, certification, and master's level education (Hamric et al., 2014).

A system to monitor progress, outcomes, and identify weaknesses is important in showing competency and meeting patient care goals. A performance improvement or quality management program is a part of the practice to leverage success and show a plan of correction when goals are not met (Ivancevich et al., 2011).