Friday, October 24, 2008

How to start a medical billing service company?

This is a shout out to all medical billers and coders who are ready to break off in the industry and start a medical billing service. Most likely you are currently working for a medical doctor or a billing service right now and figure you can do it better.

That's what happened with me. After working for several medical practices as a biller and collector it became quickly apparent to me that most people have no clue how to run a medical billing service efficiently or effectively.

So, for those who are ready to take the opportunity to grow and may have the medical billing experience but no business experience let me point you to some directions.

  1. to research Practice Management Software Products and find the one that will work best for you and your company
  2. also has information on Clearinghouses. The clearinghouse is the lifeline of your business. They submit claims electronically (primary and secondary), they notify you almost instantly of any claim denials, the submit your statements electronically, they send you Claim Status reports automatically, they can send collection letters to patients and check their mailing addresses etc. Don't forget eligibility checks.
  3. gives you ideas, suggestions and recommendations on how to start, operate and make money with a billing service.
  4. Visit my website often for new updates to coding issues, billing claim denial reasons etc.
  5. offers training videos on Microsoft products like word and excel but they also offer training videos on Practice Management Software. learn how to setup and use a PM software for your own use. This will also help you with your sales demonstrations with your doctors.

Look, if you are tired of working for others and you know you are capable don't wait do it now! If you know you are the cream of the crop and your talents run deep with the medical billing industry doctors are lining up looking for you to work for them. Why not have them pay you to operate your own business.

I get these types of questions all of the time. Can I start a medical billing service? What does it take to operate a billing service? My managers don't seem to know anything - why can't I do it better? How do I create opportunities to own a medical billing service company? What direction should I take to start a medical billing company?

Believe in yourself and don't give up! Trust that you know how to bill and collect and the rest will come to you. You will need to expand your knowledge including contracts, invoices to doctors, signing on doctors but with a well planned out business plan you can do it just like so many others!

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