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Starts at $9.98 per contact hour
Min. Hours $$/Hr
4 hours $8.98
8 hours $7.98
12 hours $6.98
20 hours $5.98
30 hours $4.98

Choosing the Business Structure for your Health and Wellness Business

1.5 Contact Hours
Target Audience: Nurses, healthcare professionals, and interested individuals
Purpose/Goal: The outcome of this course is for the learner to describe the six basic types of business structures (sole proprietorship, limited liability company (LLC), cooperative, corporation, partnership, and S Corporation). The characteristics, advantages, disadvantages, and tax considerations for each type are discussed.
$14.97
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Innovations in health care directed toward improved health outcomes, the utilization of more varied diagnostic and holistic treatment options, and the increasing diversity of patient populations supports healthcare providers and other interested individuals who are seeking unique career alternatives, including starting their own business. Once individuals decide to create their own business, one of the important first steps is to decide how that business will be structured. This decision can impact the longevity and success of the business and has important legal and tax implications.

Upon completion of the course, you will be able to do the following:

  • List the six basic types of business structures.
  • Describe the characteristics of each type of structure.
  • Explain the advantages and disadvantages of each business structure.
  • Describe tax considerations for the various types of business structures.
  • Explain the important considerations for selecting a business name.

Deciding to start your own business in health and wellness provides many exciting options that allow you to create your own unique lifestyle while expressing your desire to help others on their path to optimal well-being. The increasing demand for entrepreneurial healthcare providers and other interested individuals seeking unique career alternatives is supported through (Aldred, 2007; Lorenzetti, 2015; The George Washington University, 2017; Wilson, Whitaker, & Whitford, 2012):

  • the increasing diversity of patient populations
  • the increasing age of patient populations
  • the increase in chronic diseases
  • technological innovations
  • innovations in health care directed toward improved health outcomes
  • continually evolving reimbursement options and payment models with a focus on value
  • the utilization of more varied diagnostic and holistic treatment options in the prevention and treatment of all types of diseases and disorders
  • the changing demographics of healthcare consumers, including the “digital natives” (those who have grown up with technology as a way of life)

In addition, healthcare in the United States and abroad is changing. In the United States in particular, healthcare and medical industries are traditionally slow to innovate, partly because of the high cost of entry and the regulatory “red tape.” Many individuals consider this to be a tremendous opportunity for entrepreneurs. Indeed, there are more startups beginning to solve problems the healthcare industry has not been able to solve on its own (Hendricks, 2016). Healthcare startups have boomed over the past decade as evidenced by the number of venture funding deals, which grew approximately 200% between 2010 and 2014. In fact, 2014 was dubbed “The Year Digital Health Broke Out” by Startup Health—a leading New York City-based accelerator and networking platform.

Complete the course post exam (CE Test) with a score of 80% or greater. Complete all fields of the course evaluation form. Certificate of Completion is provided once the course post exam is passed per criteria above.

  • American Board of Managed Care Nursing
  • ANCC - American Nurses Credentialing Center
  • AOTA - American Occupational Therapy Association
  • ASWB - Association of Social Work Boards
  • California Board of Behavioral Sciences
  • California Board of Registered Nursing
  • California Department of Health, Aid, and Technician Certification Section
  • District of Columbia Board of Nursing
  • Florida Board of Nursing
  • Florida Board of Nursing - Certified Nursing Assistants
  • Florida Board of Respiratory Care
  • Florida Council of Dietetics and Nutrition
  • Florida Council of Licensed Midwifery
  • NAADAC - The National Association of Alcohol and Drug Abuse Counselors
  • NCBTMB -National Certification Board for Therapeutic Massage & Bodywork
  • Florida Board of Massage Therapists
AOTA CEUs:

0.15

Practice Level:

Beginner/Introductory

Content Focus:

Professional Issues

Course Expires:

June 10, 2020

Instructor(s):
  • Cyndie Koopsen, RN, BSN, MBA, HNB-BC, RN-BC, HWNC-BC
  • Caroline Young, MPH
Jurisdictional Requirements:

Continuing education (CE) licensing requirements vary by jurisdiction, are not well defined, and may change. These CE requirements may vary in terms of the number of hours required to the types of courses that must be taken. ALLEGRA Learning Solutions, LLC recommends you contact your licensing board or accrediting organization for the latest continuing education requirements of your state or territory. Compliance with CE requirements is the responsibility of the individual health care provider. Health care providers must understand the CE requirements in their jurisdictions, and be sure they are up-to-date on any rule changes that affect their license. For further information, please see our Accreditation Information.

Accommodations for Disabilities:

Every effort will be made to accommodate your special needs. To request accommodations, please contact us.

Conflicts of Interest and Relevant Financial Relationships:

The authors/planning committee members have no conflicts of interests or relevant financial relationships to declare relevant to this activity.

Commercial Support:

No commercial support has been received for this activity.

Non-endorsement of products:

Accreditation refers to recognition of continuing nursing education only and does not imply ALLEGRA Learning Solutions, LLC approval or endorsement of any commercial product.

Off-label Use of Products:

None of the authors intend to discuss off-label uses of drugs, mechanical devices, biologics, or diagnostics not approved by the FDA for use in the United States.

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