Business Entity Options for Midwifery Practices
Are you Thinking of Starting a Midwifery Practice but is Unsure which Business entity would be Best. It is important to emphasize that I am not a certified accountant or professional. Please get a legal counsel before making any final decision regarding business entity. Every state has its own rules and requirements regarding entity laws. Learn about your local jurisdictions. Let’s start with the basics. What are the types of business entities you should choose from? *Sole Proprietor: Business Entity that is best to start, doesn’t want anything work done with central or state, would be enclosed in personal tax forms, no legal defense from business on personal assets and no tax saving edges. * Limited Liability Company. This business entity is used to midwifery practice. If the state rules square measure followed (no co-mingling personal funds and business funds), then liability protection on personal assets, tax savings for private financial gain, not more than S-corporation. *S-Corporation: Liability protection from business assets to non-public, will sell stock to help get business started (no more than 100), requires more legal work than LLC and has a lot more tax advantages than LLC. *C-Corporation: Indebtedness edges and unlimited stock sales to help get business started, tax deductible edge edges, double taxation (shareholder dividends, company income), lots of government oversight, rules to follow, and no deduction of company losses. *Non-profit Organizations: To meet certain needs, the Internal Revenue Service can provide special tax treatment below Section 501 (c)(3). Donors fancy tax edges should apply for 510(3) standing prior to taking advantage of its edges. Federal financial gain taxes are exempted from the grant application process at state and federal levels. Board of administrators must be gift. Each entity has its own pros and cons. Each state has its own rules about what an applicant can apply for. Michigan’s Certified Nurse Midwives cannot own a business supported by Licensing Department. This is in accordance with the nursing scope of state rules. Any other midwife in the state of Michigan can own a business, except for a CNM. CNMs are required to use a PLLC (Professional indebtedness Company), however, law doesn’t allow for a Nurse Midwife. I have actually seen many CNMs continue to run their own businesses in Michigan. However, I was able to spot legal loopholes that made it possible. Don’t give up if you run into a roadblock. That’s part of being a business owner! Once an midwife says she wants to be solely proprietary, I get anxious. There is no protection for business liability. Medicine may be a high-procedural profession in the United States. However, no matter how wonderful or safe you are, a legal proceeding could occur from a sad shopper. This entity does not have any business tax edges. Operating for another person is the exact same thing as tax edges. You will need to deduct all your daily expenses that are used for business, such as mobile phone, internet, central office, supplies and mileage. If you are looking for a community-run business, such as a birth center, or a service that serves a minority population, then a non-profit might be an option. It is extremely useful to have tax exemptions and start-up funds available from grants. It all depends on the population you want to serve and what kind of midwifery company you are trying to start. There is far less risk consulting than serving women at her birth. Enroll to our COURSE: How to Run a Successful Midwifery Business Related BlogPost: https://midwiferybusinessconsultation.com/familiarizing-yourself-with-your-midwifery-states-regulations/
Business Entities for a Midwifery Practice
Business Entities For Midwifery Practice Considering starting a midwifery practice and unsure which business entity is best for you. I want to stress from beginning, I am not a lawyer or accountant. PLEASE, PLEASE, PLEASE seek legal counsel before making final decisions with business entity decision. Each state is different on entity rules and requirements. Get familiar with your local jurisdictions. Let’s start at the basics. What are the types of business entities to choose from? *Sole Proprietor: easiest to start, doesn’t need anything paperwork completed with state or federal government, would be included on personal tax forms, no legal protection from business on personal assets, no tax saving benefits for business ownership * Limited Liability Company: more commonly used for midwifery practices, if business rules on state level are followed appropriately (not co-mingling personal and business funds, yearly meeting minutes, articles of corporations), then liability protection from business on personal assets, taxation savings for personal income not as well as S-corporation (need to pay self employment tax) but does have business tax benefits *S-Corporation: liability protection from business to personal assets, can sell stocks to help get business started (no more than 100), more legal paperwork to run and get started than LLC, and more income tax benefits than LLC *C-corporation: limited liability benefits, unlimited sale of stocks to help get business going, tax deductible benefits, double taxation (shareholder dividends and company income), more government oversight and regulations to follow, no deduction of corporate losses *Non-profit Organization: need meet certain requirements are eligible for special tax treatment by the IRS under Section 501(c)(3) of the IRS, donors enjoy tax benefits, must apply for 510(c)(3) status before taking advantage of its benefits, exempt from federal income taxes, able to apply for grants on state and federal level, must be established for literary, educational, religious, charitable or scientific purposes, Board of Directors needs to be present Each entity has its pros and cons. Every state has their own rules of what a midwife can apply for. For example in Michigan, Certified Nurse Midwives can’t own their own business based on Licensing Department referencing nursing scope of practice state rules. Any other midwife in the state of Michigan can own a business, but a CNM. A PLLC (Professional Limited Liability Company) would be what a CNM needed to apply for, but law description of this business entity doesn’t include a Nurse Midwife. I have seen many CNMs still run their own businesses in Michigan, but need to find legal loop holes to make it happen. Do your research and don’t give up if a hurdle comes up, that is part of business ownership! I am always nervous when a midwife states she wants to do Sole Proprietorship. There is NO liability protection from business. Obstetrics is a high litigation profession in United States. No matter how amazing and safe your care is, a lawsuit will eventually happen from unhappy consumer or poor outcome. There is also no business tax benefits of this entity. Tax benefits are exactly the same as working for someone else. You want to write off all your everyday expenses that can be used for business like cell phone, internet, computer, home office, supplies, mileage, and more. Non-profit is a great option if you want a community ran business like a birth center or serving a minority population. Having tax exemptions and start up funds available from grants is very helpful. It really depends on population you want to serve and type of midwifery business you are trying to start. There is far less liability consulting than being at the women’s side helping her birth.
Building Resilience in an Ever Changing Midwifery World
Building Resilience Resilience is typically defined as the capacity to recover from difficult life challenges. It is your ability to fight back to whatever life throws at you. Resilience is not about accepting every challenge and doing nothing about it, you’re resilience is about how you manage to fight and discover undertakings to overcome those challenges. Have you ever tried to imagine why there are people who remain serene and calm despite the difficult problems they are facing? While others tend to panic and appear to be restless. That is the exact example of resilience. People who are resilient often use their power and skills to manage the adversities they are facing without feeling unease and panic. Instead, they solve their problems real quick. As midwives, we believe that the nature of life, the baby is important, and sharing the joy of mothers exists in the maternity unit. 10 Ways to Build Your Resilience Resilience refers to how well you can deal with and bounce back from the difficulties of life. It can mean the difference between handling pressure and losing your cool. Resilient people tend to maintain a more positive outlook and cope with stress more effectively. Research has shown that while some people seem to come by resilience naturally, these behaviors can also be learned. Whether you’re going through a tough time now or you want to be prepared for the next one, here are 10 techniques you can focus on in order to foster your own resilience. 1. Find a Sense of Purpose In the face of crisis or tragedy, finding a sense of purpose can play an important role in your recovery. This might mean becoming involved in your community, cultivating your spirituality, or participating in activities that are meaningful to you. 2. Believe in Your Abilities Having confidence in your own ability to cope with the stresses of life can play an important part in resilience.Becoming more confident in your own abilities, including your ability to respond to and deal with a crises is agreat way to build resilience for the future. Listen for negative comments in your head. When you hear them, practice immediately replacing them with positive ones, such as, “I can do this,” “I’m a great friend/mother/partner,” or “I’m good at my job.” Research has demonstrated that your self-esteem plays an important role in coping with stress and recovering from difficult events. Remind yourself of your strengths and accomplishments. 3. Develop a Strong Social Network It’s important to have people you can confide in. Having caring, supportive people around you acts as a protective factor during times of crisis. While simply talking about a situation with a friend or loved one won’t make your troubles go away, it allows you to share your feelings, get support, receive positive feedback, and come up with possible solutions to your problems. 4. Embrace Change Flexibility is an essential part of resilience. By learning how to be more adaptable, you’ll be better equipped to respond when faced with a life crisis. Resilient people often utilize these events as an opportunity to branch out in new directions. While some people may be crushed by abrupt changes, highly resilient individuals are able toadapt and thrive. 5. Be Optimistic Staying optimistic during dark periods can be difficult, but maintaining a hopeful outlook is an important part of resiliency. What you are dealing with may be difficult, but it’s important to remain hopeful and positive about a brighter future. Positive thinking does not mean ignoring the problem in order to focus on positive outcomes. It means understanding that setbacks are temporary and that you have the skills and abilities to combat the challenges you face. 6. Nurture Yourself When you’re stressed, it can be all too easy to neglect your own needs. Losing your appetite, ignoring exercise, and not getting enough sleep are all common reactions to a crisis situation. Instead, focus on building your self-nurturance skills, even when you’re troubled. Make time for activities that you enjoy. By taking care of your own needs, you can boost your overall health and resilience and be fully ready to face life’s challenges. 7. Develop Problem-Solving Skills Research suggests that people who are able to come up with solutions to a problem are better able to cope withproblems than those who cannot. Whenever you encounter a new challenge, make a quick list of some of the potentialways you could solve the problem. Experiment with different strategies and focus on developing a logical way to work through common problems. By practicing your problem-solving skills on a regular basis, you will be better prepared to cope when a serious challenge emerges. 8. Establish Goals Crisis situations are daunting. They may even seem insurmountable. Resilient people are able to view thesesituations in a realistic way and then set reasonable goals to deal with the problem. When you find yourself becoming overwhelmed by a situation, take a step back to simply assess what is before you. Brainstorm possiblesolutions, and then break them down into manageable steps. 9. Take Action Simply waiting for a problem to go away on its own only prolongs the crisis. Instead, start working on resolving the issue immediately. While there may not be any fast or simple solution, you can take steps toward making your situation better and less stressful. Focus on the progress that you have made thus far and planning your next steps, rather than becoming discouraged by the amount of work that still needs to be accomplished. Actively working on solutions will also help you feel more in control. Rather than just waiting for things to happen, being proactive allows you to help make your goals a reality. 10. Keep Working on Your Skills Resilience may take time to build, so don’t get discouraged if you still struggle to cope with problematic events. Everyone can learn to be resilient and it doesn’t involve any specific set of behaviors or actions. Resilience can
BUILDING MIDWIFERY RESISTANCE IN AN EVER-CHANGING WORLD
Resilience is typically defined as the capacity to recover from difficult life challenges. It is your capability to fight back to whatever life is throwing at you. Resilience is not about accepting every challenge and doing nothing about it, it’s about how you manage to fight and discover undertakings to overcome those challenges. Have you ever tried to imagine why there are people who remain serene and calm despite the difficult problems they are facing? While others tend to panic and appear to be restless. That is the exact example of resilience. Resilient people often use their power and skills to manage the adversities they are facing without feeling unease and panic. Instead, they solve their problems real quick. As midwives, we believe that the nature of life, the baby is important, and sharing the joy of mothers exists in the maternity unit. 10 Ways to Build Your Resilience Resilience refers to how well you can deal with and bounce back from the difficulties of life. It can mean the difference between handling pressure and losing your cool. Resilient people tend to maintain a more positive outlook and cope with stress more effectively. Research has shown that while some people seem to come by resilience naturally, these behaviors can also be learned. Whether you’re going through a tough time now or you want to be prepared for the next one, here are 10 techniques you can focus on in order to foster your own resilience. Find a Sense of Purpose In the face of crisis or tragedy, finding a sense of purpose can play an important role in your recovery. This might mean becoming involved in your community, cultivating your spirituality, or participating in activities that are meaningful to you. Believe in Your Abilities Having confidence in your ability to cope with the stresses of life can play an important part in resilience. Becoming more confident in your abilities, including your ability to respond to and deal with crises, is a great way to build resilience for the future. Listen for negative comments in your head. When you hear them, practice immediately replacing them with positive ones, such as “I can do this,” “I’m a great friend, mother, or partner,” or “I’m good at my job.” Research has demonstrated that your self-esteem plays an important role in coping with stress and recovering from difficult events. Remind yourself of your strengths and accomplishments. Develop a Strong Social Network It’s important to have people you can confide in. Having caring, supportive people around you acts as a protective factor during times of crisis. While simply talking about a situation with a friend or loved one won’t make your troubles go away, it allows you to share your feelings, get support, receive positive feedback, and come up with possible solutions to your problems. Embrace Change Flexibility is an essential part of resilience. By learning how to be more adaptable, you’ll be better equipped to respond when faced with a life crisis. Resilient people often utilize these events as an opportunity to branch out in new directions. While some people may be crushed by abrupt changes, highly resilient individuals can adapt and thrive. Be Optimistic Staying optimistic during dark periods can be difficult, but maintaining a hopeful outlook is an important part of resilience. What you are dealing with may be difficult, but it’s important to remain hopeful and positive about a brighter future. Positive thinking does not mean ignoring the problem to focus on positive outcomes. It means understanding that setbacks are temporary and that you have the skills and abilities to combat the challenges you face. Nurture Yourself When you’re stressed, it can be all too easy to neglect your own needs. Losing your appetite, ignoring exercise, and not getting enough sleep are all common reactions to a crisis situation. Instead, focus on building your self-nurturance skills, even when you’re troubled. Make time for activities that you enjoy. By taking care of your own needs, you can boost your overall health and resilience and be fully ready to face life’s challenges. Develop Problem-Solving Skills Research suggests that people who can come up with solutions to a problem are better able to cope with problems than those who cannot. Whenever you encounter a new challenge, make a quick list of some of the potential ways you could solve the problem. Experiment with different strategies and focus on developing a logical way to work through common problems. By practicing your problem-solving skills regularly, you will be better prepared to cope when a serious challenge emerges. 8. Establish Goals Crisis situations are daunting. They may even seem insurmountable. Resilient people are able to view these situations in a realistic way and then set reasonable goals to deal with the problem. When you find yourself becoming overwhelmed by a situation, take a step back to simply assess what is before you. Brainstorm possible solutions, and then break them down into manageable steps. Take Action Simply waiting for a problem to go away on its own only prolongs the crisis. Instead, start working on resolving the issue immediately. While there may not be a fast or simple solution, you can take steps toward making your situation better and less stressful. Focus on the progress that you have made thus far and plan your next steps, rather than becoming discouraged by the amount of work that still needs to be accomplished. Actively working on solutions will also help you feel more in control. Rather than just waiting for things to happen, being proactive allows you to help make your goals a reality. Keep Working on Your Skills Resilience may take time to build, so don’t get discouraged if you still struggle to cope with problematic events. Everyone can learn to be resilient and it doesn’t involve any specific set of behaviors or actions. Resilience can vary dramatically from one person to the next. Focus on practicing these skills, as well as the common characteristics of resilient
Building a Thriving Midwifery Practice: Key Strategies for Attracting and Retaining Clients
Midwifery is not just a career—it’s a calling. As a midwife, you have the privilege of supporting families during one of the most significant moments of their lives. However, building and maintaining a successful midwifery practice requires more than just medical expertise and a compassionate heart. It demands strategic efforts to attract and retain clients, build trust within the community, and differentiate yourself in an increasingly competitive field. Whether you’re just starting your midwifery practice or looking to grow it, here are key strategies to help you thrive. 1. Create a Strong Online Presence In today’s digital age, having a professional and informative website is essential. Your website should be a reflection of your practice’s values, services, and expertise. Include the following elements to ensure your site attracts potential clients: Service Information: Detail the services you offer, from prenatal care to postpartum support. Make sure to highlight your qualifications and experience. Client Testimonials: Potential clients value the experiences of others. Collect testimonials from previous clients to showcase your compassionate care and expertise. Blog or Resource Center: Share valuable resources related to childbirth, breastfeeding, and postnatal care. Offering free advice positions you as an expert and builds trust with your audience. Online Booking & Contact Information: Simplify the process for clients to book consultations and appointments online. Make it easy for them to reach out for questions. Beyond your website, maintain active social media profiles (Instagram, Facebook, etc.). Share your knowledge through educational posts, behind-the-scenes glimpses of your practice, and positive stories from clients. Social media is an effective tool for connecting with prospective families and reinforcing your credibility. 2. Offer Personalized and Holistic Care The foundation of midwifery practice is the relationship you build with your clients. One of the most powerful ways to attract and retain clients is to offer personalized, holistic care that goes beyond just medical support. Be sure to: Tailor Your Approach: Every pregnancy is unique. Take the time to listen to your clients’ concerns and provide personalized advice based on their specific needs. Emphasize Emotional Support: Pregnancy and childbirth can be overwhelming. Provide emotional support and establish a bond that goes beyond the clinical. This creates a sense of trust and comfort that encourages clients to return for future pregnancies or refer others to your practice. Integrate Complementary Services: Consider offering or partnering with other complementary services like prenatal yoga, lactation counseling, or postpartum doula support. This holistic approach can attract a wider client base. 3. Develop Strong Community Connections A successful midwifery practice isn’t just about attracting clients; it’s about becoming a trusted member of your community. Building relationships with local organizations, hospitals, and other health professionals can foster trust and make referrals a vital source of new clients. Some ways to foster strong community connections include: Networking with Healthcare Providers: Develop partnerships with OB/GYNs, pediatricians, and doulas. Building a referral network with other healthcare professionals can increase your client base and help you provide better-rounded care. Host Educational Events: Host childbirth education classes, prenatal workshops, or free informational sessions about midwifery care. These events can introduce prospective clients to your services and help build your reputation in the community. Volunteer or Support Local Causes: Volunteer at local events, donate your time to pregnancy-related charities, or offer pro-bono services to families in need. Demonstrating your commitment to your community strengthens your reputation as a trusted resource. 4. Leverage Client Referrals and Word of Mouth The midwifery profession is built on trust, and one of the most effective ways to attract clients is through referrals. Happy clients will naturally refer friends and family members who are seeking a more personalized, supportive approach to childbirth. Encourage word-of-mouth recommendations by: Asking for Reviews: After a successful birth experience, ask your clients if they would be willing to leave a review or testimonial. Positive reviews can significantly boost your reputation. Referral Incentives: Consider offering incentives, such as discounts on services or free consultations, for clients who refer others to your practice. Stay Engaged Postpartum: Stay in touch with your clients after they’ve given birth. Send them a thank-you note, check in on their health, and offer continued resources or follow-up care. Keeping the connection alive will make it easier for them to recommend you to others. 5. Focus on Client Education and Empowerment Informed clients are more likely to stay with you long-term and recommend your practice to others. Empower your clients by educating them about the birthing process, their options, and their health. Here’s how: Offer Free Resources: Create downloadable guides, blog posts, or educational videos that explain the basics of prenatal care, birthing options, and postnatal recovery. The more value you offer, the more clients will trust you with their care. Provide Ongoing Support: Midwifery care doesn’t stop after delivery. Offer postpartum support through check-ins, advice on breastfeeding, and emotional support during the early weeks of parenthood. This ongoing care helps your clients feel empowered and supported through every stage of parenthood. Encourage Birth Plans: Work with your clients to create a birth plan that reflects their wishes and goals for labor and delivery. This personalized approach shows your commitment to their preferences, which can deepen their trust in your practice. 6. Invest in Professional Development Midwifery is an ever-evolving field. Staying updated with the latest medical research, best practices, and new technologies will allow you to provide the highest level of care to your clients. Attend conferences, pursue continuing education, and join midwifery associations to stay connected with the latest trends and developments. By positioning yourself as a knowledgeable and well-trained professional, clients will feel confident in your ability to provide safe and compassionate care. 7. Focus on Client Experience and Comfort A positive client experience is key to retention. From your office’s atmosphere to your personal interactions, ensure that everything you do makes your clients feel safe, heard, and respected. Create a Welcoming Environment: Whether you see clients at home, in an office, or a birth center, ensure your practice feels welcoming and
Breastfeeding as Business Tactic: Midwife Consulting for Profits
Breastfeeding Are you passionate as a midwife to offer breastfeeding support? All midwives want the best option for feeding a baby. Consider the profitability of options for breastfeeding visits. You can either bill your insurance plan for a home visit for breastfeeding or an office visit. With the Affordable Care Act, most insurance plans cover breastfeeding visits one hundred percent (grandfathered insurance plans rarely cover this service; do a verification of benefits before providing any care to a woman and her babies to let you know what is covered by her insurance plan and what is a cash option for services with your practice). The insurance reimbursement for 30- to 60-minute visits ranges from $90 to $250, depending on the billing codes utilized. Breastfeeding Support Breastfeeding support can be marketed with the benefits of breastfeeding stressing both newborn and mother aspects. Newborns have a lower chance of obesity, sickness, allergies, autoimmune conditions, and diabetes with prolonged breastfeeding. Mother’s metabolism is actually higher with breastfeeding than with pregnancy (demand of extra 500 calories/day versus 300 calories/day). Longer breastfeeding decreases her chances of breast and ovarian cancer, obesity, diabetes, heart disease, and depression. Cost savings alone from breastfeeding compared to formula can be part of your marketing tactic. Breastfeeding support can be focused on availability for problem visits. I like to stress marketing in the direction of prevention and education. Create breastfeeding educational topic timelines: *Prenatal prep for initial latch techniques, skin-to-skin when the baby is born, and advocating for yourself and baby in the immediate postpartum period Women can be taught about breast pumps and how to get one prior to the baby’s arrival. Immediate postpartum period Either visit at home and at the hospital to help with colostrum transition and immediately get a good latch technique in place to help avoid cracked and sore nipples. Breastfeeding rates drastically decrease in the first 48 hours from lack of support from the health care team. *First week after the baby comes: when the milk supply comes and engorgement sets in, many women have trouble with the latch. Sleep deprivation, frequent feedings, and the temptation of easy access bottles hinder breastfeeding success. *Developmental stages of the newborn: teething, the introduction of food, and weaning *Common problems that most breastfeeding support is sought after are nipple pain, poor latch techniques, cracked nipples, colicky baby, overabundance issues, poor milk supply, baby in NICU, failure to thrive, mastitis, and yeast infections Lactation Consultants I have seen a few Lactation Consultants flourish by being independent contractors for Family Practice offices in an area of breastfeeding support. Midwives can do the same thing. We can add this charge to the global postpartum care currently being offered or strictly make a breastfeeding clinic our business model. Find out the needs in your area. Are there any support groups for women to attend for breastfeeding? There are billing codes that cover the midwife offering these services. Prenatal and postpartum breastfeeding classes including support groups would be billing code S9443 (Lactation Classes, Non‐Physician Provider, Per Session). Office visits with Certified Nurse Midwives would be 99201-99205 new patients depending on time spent with pt (10-60min). Established patients would be 99212-99215 depending on time (10-60min). Your note for the visit needs to stress more than 50% of the visit was spent counseling and write the exact time spent in front of the patient. Home Visits Home visits are paid if the patient’s insurance plan has home visit coverage. Those billing codes are 99341-99345 for new patients and 99346-99350 for established patients depending on time spent and complexity. Code 99404 can be used if a Lactation Consultant is seeing the patient in your office. Short and long-term benefits to the community of supporting breastfeeding need to be promoted. Having financial backing to your cause only makes it that much sweeter!
Breastfeeding As Business Tactic As Well As Improving Outcomes
Breastfeeding As Business Tactic As Well As Improving Outcomes Are you passionate as a midwife to offer breastfeeding support? All midwives want the best option for feeding a baby. Consider the profitability options for breastfeeding visits. You can either bill to insurance plans a home visit for breastfeeding or office visit. With the Affordable Care Act, most insurance plans cover breastfeeding visits one hundred percent (grand fathered insurance plans rarely cover this service – do a verification of benefits before providing any care to women and her babies to let you know what is covered by her insurance plan and what is a cash option for services with your practice). The insurance reimbursement for 30-60min visits range from $90-250 depending on billing codes utilized. Breastfeeding support can be marketed with benefits of breastfeeding stressing both newborn and mother aspects. Newborns have lower chance of obesity, sickness, allergies, automimmune conditions, and diabetes with prolonged breastfeeding. Mother’s metabolism is actually higher with breastfeeding than pregnancy (demand of extra 500 calories/day versus 300 calories/day). Longer mother breastfeeds decreases her chances of breast and ovarian cancer, obesity, diabetes, heart disease, and depression. Cost savings alone from breastfeeding compared to formula can be part of your marketing tactic. Breastfeeding support can be focused on availability for problem visits. I like to stress marketing in a direction of prevention and education. Create breastfeeding educational topic timelines: *Prenatal prep for initial latch techniques, skin to skin when baby is born, advocating for yourself and baby in the immediate postpartum period. Women can be taught about breast pumps and how to get one prior to baby’s arrival. *Immediate postpartum period: either visit at home and at the hospital to help with colostrum transition and immediately getting a good latch technique in place to help avoid cracked and sore nipples. Breastfeeding rates drastically decrease the first 48hrs from lack of support of health care team. *First week after baby comes: when the milk supply comes and engorgement sets in, many women have trouble with latch. Sleep deprivation, frequent feedings, and temptation of easy access bottles hinder breastfeeding success. *Developmental stages of newborn: teething, introduction of food, and weaning *Common problems that most breastfeeding support is sought after are nipple pain, poor latch techniques, cracked nipples, colicky baby, over abundance issues, poor milk supply, baby in NICU, failure to thrive, mastitis, and yeast infections I have seen a few Lactation Consultants flourish with being independent contractors for Family Practice offices in an area as breastfeeding support. Midwives can do the same thing. We can add this charge to the global postpartum care currently being offered or strictly make a breastfeeding clinic as our business model. Find out the needs in your area. Are there any support groups for women to attend for breastfeeding? There are billing codes that cover the midwife offering these services. Prenatal and postpartum breastfeeding classes including support groups would be billing code S9443 (Lactation Classes, Non‐Physician Provider, Per Session). Office visits with Certified Nurse Midwife would be 99201-99205 new patient depending on time spent with pt (10-60min). Established patients would be 99212-99215 depending on time (10-60min). Your note for visit needs to stress more than 50% of visit was spent counseling and write exact time spent in front of patient. Home visits are paid if patient’s insurance plan has home visit coverage. Those billing codes are 99341-99345 for new patients and 99346-99350 for established patients depending on time spent and complexity. Code 99404 can be used if a Lactation Consultant is seeing patient in your office. The sky is the limit with breastfeeding services. Short and long term benefits to community of supporting breastfeeding need to be promoted. Having a financial backing to your cause only makes it that much sweeter!
Financial and Business Courses for Midwifery Business
Financial and Business Courses When we decide to become midwives, few programs offer any business, accounting, or tax courses as part of their curriculum. Midwives go to school to care for women during pregnancy, not run a business. Many midwives learn from business mistakes while running things versus taking classes before opening own business. I would have saved so much time, burnout, money, and resources if I would have taken business courses before opening my practice versus after it closed. There is so much to learn about the business aspect of running your own practice. Knowing which type of business entity to use has long term tax benefits and liability protection benefits. Hiring the Right Accountant Hiring the right accountant and knowing exact tax strategies to use in your everyday business write offs is just as important. Buying your car in the business name or writing off mileage has pros and cons depending on your specific needs. Buying a building to use for birth center or clinic versus leasing has its own long term benefits like depreciation, interest and tax write offs, and asset appreciation. There are many great resources available online and in the community about financial and business courses. You tube has many channels to spend hours and hours learning from experts in the field. My favorite is Mark Kohler, co-owner of KKOS Lawyers. He is an accountant and lawyer that specializes in small business ownership and real estate investing. He is funny and makes the dry topic of legal very entertaining. Google search business conference or events going on in your area. Valuable Resources Purchase audiobooks to listen to while driving back and forth from home visits. Time is very valuable resource and I stopped listening to the radio years ago and switched to audiobooks while traveling now. The more knowledge you have to use, the more immense your resources become to pull from. So many financial educational materials I have learned from benefit in everyday like just as much as business ownership. Taxes are your biggest expense in life. If you can decrease that cost by knowing strategies that are written in law that few utilize, increased cash flow will come your way in business and personal life. Start working smarter, not harder. Great book series I like to read are Rich Dad, Poor Dad and Napoleon Hill Foundation. Think and Grow Rich is a monumental book to inspire business creativity and that anything is positive with the right mindset and desire in place. Robert Kiyosaki had a unique upbringing from his biological Dad that followed traditional financial thinking mindset and worked for someone else his whole life and his best friend’s Dad, a prosperous business owner. Knowledge is power. Especially financial knowledge. Midwifery can really benefit from more courses to increase business ownership opportunities. Know your Competition I truly believe we are our biggest hurdle with competing with hospital and physicians in the birth arena. If more midwives could successful run their own practices, midwifery would be flourishing across the country. Most CNMs work for a hospital or doctor. Many CPMs and Direct Entry Midwives start their own businesses purely as an only option to practice. Spend some time researching business plans, business strategies, and taxes. Money is like a knife. It can be a powerful tool is known how to be used appropriately. It can be a dangerous weapon if no proper training is given with it. Have your midwife business excel faster with financial and business education. Invest in yourself and business knowledge to increase your business success rate. Don’t be one of the 90% start up businesses that don’t last by five years into start up. Our course, Financial Planning Tips for Birth Professionals, was developed to teach you all you need to know to keep your practice thriving
Bookkeeping Benefits for Your Midwifery Business
Bookkeeping benefits Bookkeeping is a crucial part of running a midwifery business. It is crucial because it helps every midwife business owner to store and analyze finances and dealing with finances is very complicated. As a business owner, your progress and success will rely on the revenue your business is earning. Through the use of this financial data, you can draw precise conclusions regarding the financial security of your midwifery business. Midwife business owners have plenty to do. It’s an apprehension to learn that bookkeeping is another task you must complete to ensure that your business runs well. Ultimately, why wouldn’t you skip it altogether and leave it for an accountant? Why would you waste your time digging into all the accounts when you can stay put and wait for the accountant and bookkeeper to do it for you? In reality, being hands-on with your midwife business is the first step to success. Not relying on other people’s expertise and learning the process firsthand is your strength. It will keep you away from the possibility of other people having much control of your business’s finances, which will keep you vulnerable. Basics of bookkeeping Helps You Budget Accurately Bookkeeping is vital to any business because it makes it so much easier to budget. With your income and expenses properly organized, it’s simple to review your financial resources and costs. A budget creates a financial roadmap for your business. With a budget in place, you can plan for future expenses for your business to help with growth. If you don’t keep accurate and up-to-date books, it’s a lot harder to get an accurate budget because it’s all mainly guesswork. Keeps You Prepared for Tax As annoying as it is, businesses have to file their taxes at the end of the tax year. With a bookkeeping process in place, you’ll have financial information ready for tax season, and the taxman won’t be breathing down your neck. So, when the government demands a financial statement from your business for tax reasons, bookkeeping regularly means you’ll be able to predict the outcome more accurately if you have detailed balance sheets over time. maintains organized records That last-minute stress of trying to find a crucial piece of business can lead to missed deadlines and some small errors creeping through. Businesses of any size can’t afford to make any mistakes and bookkeeping regularly can help with that. By doing your books often, staying on top of them, and not leaving them to the last second, you’ll be able to maintain organized records. Over time, it’ll make it much easier to find the bits of information you desperately need in no time. Easier to See Business Targets Every business wants to grow, but poor financial records can stop that from happening at the speed you want. With no accurate numbers or data to analyze, it’s not easy to set yourself any growth goals. Again, it’s going to be because you’re guessing everything, so you’ll be quite disappointed that you didn’t hit the targets you set out previously. By staying on top of your books and keeping regular financial records, you can map out your business goals more accurately and achieve growth. Meeting Government Regulations We all know that the government always comes out with a new initiative, which is mainly to make things easier for them. It is highly important to be on track with all the government regulations when it comes to your business. If you fail to comply with any regulation, your business will be at stake. gives you extra peace of Mind Unorganized books, the government giving you problems and those looming tax deadlines can all contribute to plenty of stress and panic. As a business owner, the last thing you want on top of your day-to-day tasks is bookkeeping issues weighing on your mind. When your books are complete and tidy, they won’t keep you up at night. You can rest easy knowing that your business’s financial information is ready to be reviewed without the government giving you any anxiety. Your mind will be at ease, and you can focus on other areas of your business. You Learn in the Process It doesn’t matter if you’re a complete newbie or a bookkeeping veteran. Doing digital bookkeeping offers you plenty of chances to learn and fill in some knowledge gaps. It can be hands-on with an app, free workshops and tools from the government or even reading content online. Bookkeeping accuracy helps you maintain your business’s sustainability. Bookkeeping can teach you a lot more than you think about your business’ finances. Everything you learn will be beneficial for helping you make smarter business decisions. WE WILL BE COMPLETING A NEW BIRTH WORKER BOOKKEEPING TIPS COURSE SOON! YouTube VIDEO: Bookkeeping Tips with Amanda Wylie Reference EasyBooks. (n.d.). 7 reasons why bookkeeping is important for your business. EasyBooks. Retrieved October 20, 2022, from https://www.easybooksapp.com/blog/reasons-why-bookkeeping-is-important-for-your-business
Birth Center Startup Costs: What to Expect and How to Budget
Opening a birth center is a dream for many midwives—a place where families can welcome their babies in a safe, empowering environment outside of the hospital. But while the vision is beautiful, the financial side can feel intimidating. How much does it really cost to open a birth center? What expenses should you plan for? And how can you budget wisely to set yourself up for long-term success? At Midwifery Business Consultation, we’ve supported midwives across the United States in turning their dreams of birth center ownership into thriving realities. We know that clear financial planning doesn’t just reduce stress—it gives you the confidence to move forward strategically. Let’s break down what to expect when budgeting for your birth center startup costs. Step 1: Facility Costs Your building will likely be your biggest expense. Costs can vary dramatically depending on location, size, and whether you lease or purchase. Lease Costs: Commercial leases often require first and last month’s rent plus a security deposit. Expect anywhere from $2,000–$10,000 per month depending on your area. Build-Out & Renovations: Most spaces aren’t “birth center ready.” Renovations to meet safety codes, add birthing suites, install showers/tubs, and create welcoming family spaces can range from $50,000–$250,000+. Utilities & Maintenance: Ongoing monthly costs include water, electricity, internet, landscaping, and repairs. 💡 Tip: Work with consultants who understand birth center regulations before signing a lease—this avoids costly surprises later. Step 2: Equipment & Supplies Equipping a birth center requires more than a few stethoscopes and birth tubs. Major categories include: Clinical Equipment: fetal dopplers, blood pressure monitors, newborn resuscitation supplies, exam tables. Birth Equipment: birth tubs, birthing stools, emergency medications, oxygen supplies. Office Equipment: computers, printers, phones, and charting systems. Furnishings: comfortable beds, sofas, décor to create a home-like feel. Expect to budget $50,000–$100,000 depending on the size of your center and the quality of equipment purchased. Step 3: Licensing, Accreditation & Legal Regulations vary state to state, but most birth centers will need: Licensing fees for state approval Accreditation fees (such as CABC) Legal support for contracts, policies, and risk management These can add up to $5,000–$20,000 during the startup phase. Investing here is essential—it protects your license, your clients, and your business. Step 4: Staffing Costs Even if you’re starting small, you’ll likely need additional help. Consider: Midwives & Assistants: Salaries or per-diem pay Admin Support: Receptionists, billers, or office managers On-Call Support Staff: To cover gaps and ensure sustainability Staffing is often your largest ongoing expense. Budget $150,000–$400,000 annually depending on the size of your team. Step 5: Insurance & Risk Management Insurance is non-negotiable. Costs depend on your provider, state, and coverage, but you’ll need: Professional liability insurance (malpractice) Business insurance for property, liability, and equipment Workers’ compensation if you hire employees Expect at least $10,000–$30,000 annually for comprehensive coverage. Step 6: Marketing & Community Outreach Opening your doors isn’t enough—you need families to find you. Marketing expenses may include: Website design & SEO optimization Branding: logos, signage, and printed materials Social media & digital advertising Community events like open houses or prenatal classes Budget $5,000–$15,000 for a strong launch, with ongoing monthly costs to maintain visibility. Step 7: Working Capital & Emergency Funds One of the most overlooked startup expenses is having enough cash flow to cover the first 6–12 months of operations. Many centers take time to reach consistent profitability. Having a working capital reserve ensures you can pay staff, rent, and bills without added stress. We recommend setting aside at least 3–6 months of operating expenses in savings before opening. Putting It All Together: Average Startup Cost Range Depending on size, location, and vision, most birth centers cost between: 👉 $200,000–$500,000+ to launch. Yes, it’s an investment—but one that creates lasting impact in your community while building a sustainable career for you and your team. Budgeting Wisely with Professional Guidance At Midwifery Business Consultation, we help midwives turn intimidating numbers into clear, actionable plans. Our services include: Startup cost projections customized for your state and goals Budgeting templates to keep finances organized Financial planning consultations for funding, loans, and cash flow management Long-term business coaching so your birth center doesn’t just open—it thrives Empowerment Through Preparation Yes, the numbers are big—but they are not insurmountable. With the right strategy, funding sources, and community support, your dream birth center is within reach. Families are looking for exactly what you offer: safe, compassionate, and empowering birth options. By preparing financially, you position your center to serve your community for decades to come. Ready to Take the Next Step? If you’re ready to move from vision to reality, Midwifery Business Consultation is here to guide you. Schedule a personalized consultation or explore our financial planning resources to get a clear picture of what’s possible for your future birth center. Your dream is worth the investment—and with preparation, you can make it happen.