Written By: Donna Reese MSN, RN, CSN
Have you ever wondered how to make the most money as a nurse practitioner? If so, you have come to the right place. This article is just bursting with ideas to help you achieve top dollar as an NP. Here, I break down 15 ways to make the most money as a nurse practitioner.
For those seeking a traditional NP role, scroll down to learn the 5 top paying jobs for NPs. But keep reading, as your earning potential can grow substantially once you look beyond the routine NP job offerings.
If you crave work-life balance, then the ideas presented here on “work-from-home jobs” may interest you. This section dives into telehealth opportunities that come with a healthy paycheck.
If you want to break financial barriers and breach the $200,000 mark, be sure to check out the section on business ideas for nurse practitioners. These nontraditional entrepreneurial endeavors come with big money possibilities. Here, the sky is the limit for exciting business ventures and earning potential.
What is the Average Salary of a Nurse Practitioner?
According to the US Bureau of Labor and Statistics (BLS), the average annual salary of a nurse practitioner in the US is $124,680. This figure varies across the US as certain states and cities, such as California and NYC, typically pay their NPs higher than average wages.
| Hourly | $59.94 |
| Weekly | $2,398 |
| Monthly | $10,390 |
| Annual | $124,680 |
| (Source: U.S. Bureau of Labor Statistics) | |
What are the Best Jobs to Make the Most Money as a Nurse Practitioner?
(Below are the 5 best jobs to make the most money as a nurse practitioner.)
JOB #1: Cardiology Nurse Practitioner
About This Job:
The number one job to make the most money as a nurse practitioner is a Cardiology NP. Cardiology nurse practitioners work in cath labs, cardiology and critical care units, the ER and OR, and private cardiology practice. You will be part of a cardiac team and work closely with other providers and medical staff where you may initially see patients for assessment and referral. Also, cardiac NPs do much pre-op and post-op follow-up and teaching.
Some cardiac NPs are trained to do testing and specialized procedures such as stress tests.
Skills & Abilities Required to be Successful in This Job:
Cardiology nurse practitioners need to be excellent educators with effective communication skills. The field is complex, so you must be sharp and a quick learner to keep up with the ever-changing technology and skills in this field.
How Much Can You Make:
In a surprising reveal, ZipRecruiter quotes an average pay of $160,983 annually for a cardiology NP.
Why This Job Makes You The Most Money:
As a cardiology nurse practitioner, you are among a very specialized group of elite providers. Cardiology practices tend to make more money than many other specialty areas. This may be due to the lucrative reimbursem*nt for costly surgeries in this field. Cardiologists are among the best-paid physicians, and as a provider in this area, you, too, should be well-paid.
JOB #2: Psychiatric Nurse Practitioner
About This Job:
Consistently topping the list of jobs to make the most money as a nurse practitioner are NPs working in psychiatric and mental health. A psychiatric mental health nurse practitioner (PMHNP) is a highly specialized provider who cares for patients' emotional and psychiatric needs. They also are skilled in substance abuse. PMHNP jobs can be found in correctional facilities, hospitals, private psychiatric offices, and substance abuse centers. They also work with all age groups.
Skills & Abilities Required to be Successful in This Job:
Working with patients with psychiatric and emotional needs can be very complex work. In addition, patients in this category sometimes can be uncooperative and challenging. PMHNPs must have much patience and understanding as they meet their obligation to help their charges even in the face of opposition.
Pharmacological knowledge, effective communication, and persistent follow-through are necessary to work in this capacity.
How Much Can You Make:
ZipRecruiter lists the average wage of a psychiatric nurse practitioner as $150,650 annually.
Why This Job Makes You The Most Money:
The mental state of our country is not good. In fact, the US surgeon general is calling it a crisis. The urgent need for mental health services warrants a demand for qualified psychiatric providers. This includes psychiatric mental health nurse practitioners. This crisis is driving up the wages for psych NPs, making them top wage earners.
JOB #3: Emergency Nurse Practitioner
About This Job:
Emergency nurse practitioner jobs are typically in a hospital ER department. Here, you have to think quickly on your feet as you never know what may walk in the door. The pace is fast and, at times, chaotic. In this job, you will treat patients of all ages with illnesses and injuries from car accidents, disasters, gunshot wounds, and anything else. Mental health and substance abuse issues are common, as well as seasonal illnesses such as the flu.
Skills & Abilities Required to be Successful in This Job:
Some emergency room nurse practitioners thrive in this bustling environment. Your effective communication skills and ability to act under stress will serve you well in this capacity. You will likely work alongside other providers and health staff, so a team spirit will aid your success as an emergency NP.
How Much Can You Make:
On average, emergency nurse practitioner jobs pay $131,543 annually per ZipRecruiter.
Why This Job Makes You The Most Money:
Studies show that stress among healthcare staff working in an ER is exceptionally high. Thus, it makes sense for NPs in this environment to make more than in many other jobs. Burnout is common, and providers tend to leave for less stressful jobs. Therefore, the pay needs to be higher than average to attract and keep NPs in the ER.
Job #4: Community Food and Housing, and Emergency and Other Relief Services
About This Job:
According to the US Bureau of Labor and Statistics (BLS), the way to make the most money as a nurse practitioner is to work in the “Community Food and Housing, and Emergency and Other Relief Services” job category. The BLS lists this category as the highest-paying area to work for NP jobs.
NCAIS Association describes these entities' mission as:
•Collecting, preparing, and delivering food for the needy
•Providing, repairing, or constructing emergency shelter and housing and clothing for those in need
•Provide medical relief and counseling to victims of domestic violence
•Provide medical relief and counseling to victims of international disasters or conflicts such as war.
Examples of organizations in this category where NPs can work are Samaritans Purse, International Medical Corps, and Women in Need Inc.
Skills & Abilities Required to be Successful in This Job:
NPs working in emergency relief services will manage medical relief teams for those in disaster, war, and crisis. In this job, you will work alongside other medical providers to coordinate and supervise medical and relief staff to care for people in acute distress. You will need to utilize all your medical knowledge and communication acumen to skillfully lead a team in situations that can be uncertain.
This job can be quite varied as you may work in a foreign country under a tent or in a homeless shelter in NYC. Either way, your leadership and ability to think on your feet to coordinate care in any environment will come into play in this type of job.
How Much Can You Make:
Nurse practitioners working with emergency relief services make an average wage of $139,140, according to the BLS.
Why This Job Makes You The Most Money:
Forbes informs us that nonprofit agencies and charities can make BILLIONS of dollars. With that kind of revenue coming in, it is no surprise that NPs make top dollar in this category of work. Although the money is earmarked for donation, there is no hard rule that the workers and those at the top need to make a paltry wage.
JOB #5: Religious Organizations
About This Job:
The USB ranks “Religious Organizations” as the 2nd best-paying area to work for NPs.
Like jobs in emergency and crisis work listed above, NP positions with religious organizations can be varied. Religious organizations can be on hand for many types of emergencies or those in need in general. NPs may work as a sole provider caring for the sick or injured or on a medical team, depending on the locale and situation.
Skills & Abilities Required to be Successful in This Job:
Your clinical skills will be called into play for positions where you will practice hands-on care for people in need worldwide. You may work in a remote hospital performing basic and life-saving medical care. Perhaps the job is in an inner-city clinic where the medical needs are just as crucial, but you would have the backup of other healthcare systems at your fingertips. Some organizations listed in #4 can cross over into this category, such as Samaritans Purse (a religious organization).
Either way, your medical expertise will be needed. You will likely oversee other team members, so good organizational and communication skills are a must.
How Much Can You Make:
The USB lists salary for NP positions in the category of religious organizations to be $128,970 annually on average.
Why This Job Makes You The Most Money:
Although there has been a downtrend in profits of late for religious organizations, this category still can reap top dividends. The Catholic Church remains strong and leads in this category for revenue. Due to high profits, religious organizations can afford to pay their providers a bit more than the average wage.
What are the Best Work-From-Home Jobs to Make the Most Money as a Nurse Practitioner?
(Below are the 5 best work-from-home jobs to make the most money as a nurse practitioner.)
WORK-FROM-HOME JOB #1: Digital Health Organization
About This Work-From-Home Job:
Working in a tech field is consistently a great way to achieve top dollars and make the most money as a nurse practitioner. Digital health organizations are a growing trend. These health entities utilize cutting-edge digital technology to provide top-notch healthcare services delivered remotely to their patients. As a digital health provider, you will conduct virtual patient visits to assess, diagnose, monitor, and treat your patients for acute and chronic diseases.
Skills & Abilities Required to be Successful in This Work-From-Home Job:
In addition to astute assessment and critical thinking skills, it is necessary to possess excellent technical acumen. The ability to clearly communicate is essential as virtual visits come with barriers that can diminish the quality of a visit due to interruptions, technical difficulties, and the limited assessment that can take place.
How Much Can You Make:
An Indeed search of private telehealth organizations reveals that it pays well for an NP to work from home. The pay ranges from $120 to $150 per hour for telehealth clinicians.
Why This Work-From-Home Job Makes You The Most Money:
The digital health market is exploding and expected to grow. Industry revenue in 2023 is projected to reach over $44 billion in the US. Virtual health organizations have tapped into the mother-load of payoffs in the healthcare industry. Fortunately, this good fortune translates to excellent wages for nurse practitioners in these positions.
WORK-FROM-HOME JOB #2: Medical Legal Consultant
About This Work-From-Home Job:
Although nurses can be legal nurse consultants, NPs take the position to the next level. As an NP working as a legal consultant, your medical expertise as a provider will provide clout when testifying in legal matters. There are times when a provider is necessary to peer review clinicians in cases of malpractice and neglect.
Your advanced knowledge is invaluable to attorneys and the legal system in sorting out complex and sticky medical lawsuits and information. The review of cases and medical records can be accomplished at home. Frequent consultation via Zoom with the legal team is typically necessary to coordinate the cases.
In addition to working for an attorney, you may also work for healthcare and technical organizations.
Skills & Abilities Required to be Successful in This Work-From-Home Job:
Working in the legal system necessitates advanced knowledge of our judicial system. NPs in this specialty should be highly organized and excellent communicators. Diligent research practices are a must, along with advanced written skills.
How Much Can You Make:
Little data is available on how much you can make as an NP working as a medical consultant. However, according to Glassdoor, legal nurse consultants can make up to $152K. Advanced practice nurses such as NPs should be at the highest end of this pay scale.
Why This Work-From-Home Job Makes You The Most Money:
Historically, attorneys make wages on the higher end of the job spectrum. They can afford to pay their NPs a handsome salary for their advanced expertise. Also, working as a medical consultant is considered highly specialized work. It does not matter if you work from home or the office. You will do the same job.
WORK-FROM-HOME JOB #3: Home-Based Healthcare.
About This Work-From-Home Job:
Although many home-based healthcare agencies require NPs to do in-home assessments and care, some perform this function remotely. As a nurse practitioner, your job may be more supervisory of RNs and staff. You will develop and monitor the plan of care after the nurse completes her patient assessment.
Senior health is a big business at present, with NPs needed to monitor patients as they return from the hospital or reside in skilled nursing facilities. In this capacity, you will attend to your charges remotely.
Skills & Abilities Required to be Successful in This Work-From-Home Job:
Expert assessment skills are critical in this capacity. Your ability to attend to minute details via Zoom makes the job more complex than in person. Technical savvy is needed, along with excellent communication and teaching skills. Adult-gerontology nurse practitioner certification is a plus.
How Much Can You Make:
HarmonyCares is one example of an in-home-based care organization where you can make the most money as a nurse practitioner. Here, NPs make up to $140,000 annually on average.
Why This Work-From-Home Job Makes You The Most Money:
The homecare market is profitable and expected to continue to grow.
In home-based care, NPs bill for every service they perform. Although most visits are at a fixed fee, your work brings in revenue for the organization. As a lucrative business where your services are reimbursed, home care organizations can afford to pay well.
WORK-FROM-HOME JOB #4: Private Psychiatric Telehealth Practice
About This Work-From-Home Job:
Once again, PMHNPs can make the most money as nurse practitioners. Additionally, psychiatric NPs can work efficiently from home. The psychiatric telehealth industry is thriving since much of the assessment and treatment can easily be accomplished via Zoom or phone.
Many patients are reluctant to leave their homes or go to a psychiatric office due to the stigma associated with this type of diagnosis. Performing home psych assessments, med checks, and follow-up care for emotional and psychiatric issues is a win for both the clinician and the patient.
Skills & Abilities Required to be Successful in This Work-From-Home Job:
The ability to patiently assess, diagnose, and educate people with a substance use disorder and those with psychiatric problems is key. Frustrations may run high if there are technical issues, so the ability to quickly troubleshoot digital issues over Zoom is helpful. A deep understanding of pharmacology associated with mental health is a must in this job.
How Much Can You Make:
Telehealth psychiatric NP positions pay similar to those working onsite. PMHNP telehealth wages are $150,650 annually on average.
Why This Work-From-Home Job Makes You The Most Money:
A quick look at employment sites reveals an apparent demand for PMHNPs. With the mental health of our nation crumbling, the need for this specialty will continue to increase. It does not matter if the NP works from home or onsite. The demand remains.
WORK-FROM-HOME JOB #5: Telehealth Specialty Office
About This Work-From-Home Job:
As mentioned earlier in this article, certain specialty nurse practitioners typically make a higher wage than many NP positions. The same holds for telemed jobs. For example, a job search reveals an NP telemed position with an endocrinology practice that offers excellent pay for this opportunity.
NPs working from home in a specialty office typically perform initial assessments and screenings before physician involvement. Other duties can include pre-op teaching, post-op follow-up, and medication management.
Skills & Abilities Required to be Successful in This Work-From-Home Job:
Telehealth work presents certain benefits and challenges. Although it is convenient, many older adults prefer in-person visits. This may be due to their lack of comfort level with technology and, therefore, want to stick to the pattern that they are accustomed to regarding physician visits. Patients at many specialty offices, such as internal medicine, rheumatology, and cardiology, are primarily over 65.
This obstacle presents an increased challenge when attempting to see patients via Zoom. Many clients may feel frustrated, and some even hostile towards telehealth visits. Extra patience and the ability to educate and tackle technical issues due to a lack of savvy in this realm will be helpful for NPs in this role.
Other skills needed to work from home successfully include:
•Organization
•Time management
•Ability to work independently
How Much Can You Make:
A ZipRecruiter search shows NPs working in specialty offices such as endocrinology and cardiology can make up to $150,000 annually as their telemed NP.
Why This Work-From-Home Job Makes You The Most Money:
Specialty visits and procedures are typically reimbursed at a higher fee than other types of visits (such as a PCP). This increased reimbursem*nt trickles down to higher pay for the providers.
What are the Best Businesses to Make the Most Money as a Nurse Practitioner?
(Below are the 5 best businesses to make the most money as a nurse practitioner.)
BUSINESS #1: Weight Loss Clinic
About This Business:
According to the State of Obesity Report 2023, 41.9% of Americans are overweight, with the trend worsening. The Surgeon General is calling for increased attention to address this crisis, thus making obesity management a big business at present.
Nurse practitioners with their clinical knowledge and health teaching background are ideally suited to own a weight loss clinic. Here, you can work solo or manage a team to assess patients' nutritional status and prescribe medication and a program to help them reach a healthy weight goal.
Skills & Abilities Required to be Successful in This Business:
Starting your own weight loss clinic takes time and business planning. You can go at this alone or partner (or hire) someone with the know-how to start a business. You can be the clinician and manager, but you may need some guidance on the business end of the start-up.
You can draw on your own experience of weight loss and dietary supplements and medication, or may need to take some additional training or certification courses on weight loss management.
Either way, you must be organized and meticulous in your work and business to keep it up and running.
How Much Can You Make:
Owning a weight loss center is perhaps the winner in the list of ways to make the most money as a nurse practitioner. Per MediWeightLoss Clinics, in 2021, “the average gross revenue for reporting Medi-Weightloss clinics across the US was $919,044”. Of course, you have overhead and payroll expenses, but you can imagine that the owner will still turn a hefty profit.
Why This Business Makes You The Most Money:
In the past, weight loss customers needed to pay out of pocket for management. This aspect of the business kept profits lower than insurance-backed practices. Fortunately, many insurance companies are beginning to smarten up about the benefits of weight loss, and we are seeing more and more insurances that reimburse for weight loss management.
Additionally, NPs who stock and sell their supplements to customers should realize increased profits.
BUSINESS #2: Medical Marijuana Dispensary
About This Business:
Owning a medical marijuana dispensary is perhaps one of the most recent ideas to make the most money as a nurse practitioner. Medical marijuana (MM) is a growing business, with more and more states either allowing the weed for medicinal purposes or decriminalizing it altogether. Many dispensaries contract with a physician or NP to provide assessment and prescriptions for patients seeking MM.
With MM dispensaries popping up all over the country, why not get in on the ground floor and become an owner where you can provide medical expertise and make the most of your investment through ownership.
Skills & Abilities Required to be Successful in This Business:
Starting your own MM pharmacy involves the usual steps in setting up a business. Therefore, you must be business savvy or find a good business partner to help you start your dispensary.
You will likely have at least one employee, so your effective communication and teamwork skills will come into play. Excellent customer service will keep your patients coming back, so your friendly personality will help to build your business.
Lastly, it would be best to learn about the industry and pharmacological aspects of dispensing MM. If you are not familiar with this specialty area, no worries. There are many courses and certification classes for providers to get you up to speed on this topic.
How Much Can You Make:
As a newer type of enterprise, studies on gross profits are just coming in. However, the indicators point to a minimum gross profit of $240,000 for cannabis business owners.
However, you must be aware that start-up costs can be considerable in this industry. Investigating an online pharmacy may save you the expense of a physical shop.
Why This Business Makes You The Most Money:
According to the New Frontier Data Report, the “U.S. Legal Cannabis Market is Projected to Double to $41.5B by 2025”. With such a vigorous outlook, your odds of making top dollar as a cannabis dispensary owner are excellent.
BUSINESS #3: Medical Staffing Agency
About This Business:
It is refreshing to see more and more nurses and nurse practitioners entering the business world. We even have a newly coined name, “nursepreneur,” to highlight our business title.
One consistent business where NPs are successful and can make the most money as a nurse practitioner is as a staffing agency owner.
Who knows better about healthcare staffing than those who have lived the part? Many of us have dealt with staffing issues and schedules for ourselves or as nurse managers. We know what health staff needs are and the problems of staffing facilities and units.
As a staffing agency owner, you will work with hospitals and other healthcare agencies to market your product. You will also be directly recruiting nurses and health staff for placement. You may do this yourself or hire staff to assist in these roles.
Skills & Abilities Required to be Successful in This Business:
As a staffing agency owner, you will be dealing with the marketing of your product, recruiting staff, and running a business. Your hat will be mainly as a business owner and may not utilize your clinical NP skills.
However, you will fully need to lean into your soft nursing skills, such as organization, communication, and critical thinking.
If you do not possess business knowledge, the National Nurse Practitioner Entrepreneur Network (NNPEN) has many resources to help you establish a business, such as a staffing agency. NPbusiness.org also has many tools to tap into if you dream of becoming a business owner.
How Much Can You Make:
Information varies on how much a medical staffing agency owner can make. However, several sources quoted that their medical staffing agencies reached a worth of over 3 million dollars in the first few years.
Why This Business Makes You The Most Money:
The healthcare staffing outlook continues to show a dire need for nurses and providers. Healthcare organizations depend on staffing agencies to fill their widening employee gaps. This translates to a lucrative future for staffing agencies and their owners.
BUSINESS #4: Mobile Hospital
About This Business:
If you want to go big in your business, consider owning a mobile hospital.
Mobile medical hospitals can range in size and function. Some are just small vans with medical supplies that go from house to house, community centers, skilled nursing facilities, and churches. Others are large tractor-trailer-sized trucks that function as their own clinic in its entirety.
As an NP owner, you may function as the lead provider for your “facility”. You may hire staff such as nurses and x-ray techs. Eventually, you may move into an administrative role only.
Mobile hospitals treat acute and chronic illness and injuries similar to any walk-in urgent care clinic.
Skills & Abilities Required to be Successful in This Business:
You will utilize all of your soft and clinical skills in this capacity, along with administrative and business knowledge. As your enterprise grows, you may even want to expand your “fleet” and your role may become primarily administrative.
How Much Can You Make:
Launching a mobile medical unit will involve start-up costs. Although it is challenging to pinpoint how much a mobile medical clinic owner may gross, literature reports that mobile visit fees range from $65 to $529.
With a lower overhead than traditional onsite clinics and hospitals, your net profit should exceed the average NP wage of $124,680. Once the overhead expense of your mobile unit is paid down, you can expect even higher yields.
Why This Business Makes You The Most Money:
Medicare and insurance companies find that mobile clinics save them money. Having the support of these critical revenue agents is one guarantee that you will be a success. Also, with overhead lower than a brick-and-mortar clinic, your net profits should reflect these savings.
BUSINESS #5: Bundle Your Business
About This Business:
Hanging your own shingle and opening your own practice is a basic business solution for NPs wanting to boost their earning potential. This move alone will elevate your income to the next level. However, those looking to make $200K or more tend to look beyond a traditional practice.
One smart way to make the most money as a nurse practitioner is by adding side specialty areas to your practice, such as hormone clinics and spa treatments. This ladder method to build your business has the potential to double your income. By bundling multiple business ideas, you can reach the next level in your wages.
*A word of caution. Add niche business ideas slowly (one at a time) to carefully cultivate your new endeavors.
Skills & Abilities Required to be Successful in This Business:
As a multifaceted business owner, you must possess excellent business savvy. Running your own enterprise demands organization and effective communication.
Additionally, as you add new offerings to your practice, you should obviously be knowledgeable in your niche. This avenue may necessitate additional education, certifications, or training.
How Much Can You Make:
By bundling a side niche with your own practice, you can expect to make over $200K annually.
Why This Business Makes You The Most Money:
If you do your homework prior to your start-up and research areas of need for your side practice ideas, you will increase your potential for a lucrative venture. If there is a demand, you can expect to make money in your endeavor. Add that to your base salary for your solo practice, and you have a recipe for financial success.
My Final Thoughts
Now that I have answered your question of “how to make the most money as a nurse practitioner?”, you have summarized facts on how to move forward to increase your earnings.
With ideas of 15 ways to make the most money as a nurse practitioner, you can wisely choose profitable work in traditional jobs or work-from-home positions. For the more adventurous NPs, this article illustrates that becoming a business owner is exciting and potentially the most lucrative avenue to pursue. Whichever direction you choose, I hope that I was able to help guide you towards financial success.
Donna Reese MSN, RN, CSN
Donna Reese is a freelance nurse health content writer with 37 years nursing experience. She has worked as a Family Nurse Practitioner in her local community clinic and as an RN in home health, rehabilitation, hospital, and school nursing.
