starting a new home based medical billing business

by Laura
(FL)

Me and my husband are masters in biochemistry, I was in pharmaceutical research, he work in hospital and have a vast experience in health and life insurance. We have no experience in medical billing. He is MBA also. Both have a accounting and book keeping experience. Excellent hand on computers also. We want to start a home based medical billing business, is that a wise idea? What should we do to get started?


Response:
Given you and your husbands education and experience I think you would certainly have and advantage over others starting a business in this field.

I will be honest and say that a billing business can be very competitive and challenging to get into. Like a lot of new businesses it can take a while to be profitable. For small billers there is a niche in serving individual providers. Larger practices with several providers can be a challenge as many are affiliated with hospitals or large organizations that have their own centralized billing.

Probably the biggest challenges are learning insurance reimbursement and coding and then marketing to get that first client. If you haven't done any billing before I would suggest training in billing and coding before attempting to "learn on the job" with a client as that can be a disaster. There are several good online courses available for a reasonable cost. For example the American Association of Professional Coders (AAPC) has a medical billing course for under a $1000. (www.aapc.com) It's also important to keep up to date on current issues that affect billing such as ICD-10, HIPAA, Meaningful Use, Medicare changes, etc.

I think you and your husband would have an advantage with your credentials. If you do decide to pursue billing I would suggest you emphasize all your education and experience when marketing your service.

Thanks for your question and sorry to take so long to respond. I encourage our visitors to add their thoughts by clicking on the link below.

Click here to post comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Your Questions.

Recent Articles

  1. Dental Billing

    Jul 12, 17 08:25 AM

    I have been a dental hygienist for 6 years and I am ready to start my own business. I have decided I do not want to drift far from the world of dentistry

    Read More

  2. Qualifications

    Jul 12, 17 08:24 AM

    I have a background that is not a good background. My question: Are background checks done? If so, what are they looking for? Is it up to the hiring

    Read More

  3. What is an exact role name for medical billing specialist??

    Jul 12, 17 08:19 AM

    In gulf countries they can't understand what medical billing is, where lots of billing jobs available but I need what exact role name of it to apply job

    Read More

Disclaimer and Privacy

All-Things-Medical-Billing.com provides this website as a service. Please read our full Disclaimer and Privacy Policy here.


Copyright 2017 All-Things-Medical-Billing.com