I would like to start a home medical billing business. How much does it cost to start?
Response:
It really depends on whether you are starting from scratch.
Probably the biggest expenses for me were the software, marketing, coding books, and basic office equipment such as a computer, printer, etc. If you don’t have any experience then I recommend investing in a good training course. A good billing and coding course can cost in the thousand dollar range or more.
These days you don’t have to invest as much in software up-front since you can use an online billing application and pay month to month.
If you already have an office and computer then you won’t have that expense. Also if you have a client then you don’t have to spend as much marketing when getting started. There are also costs associated with staying current on coding for you specialties – coding books or online services.
Remember also that if you are setting up an office in your home you have to be able to secure any files or records and computers in compliance with HIPAA. So there may be some expense associated with that.
So really the start up cost can range from a few thousand dollars on up. I would typically estimate in the $5000 range for a home based business.
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