(Mesquite TX U.S.)
When starting a new Medical Billing Service, what specialty is a good starting point, I have heard that Chiropractic is not a good one. Also I have taken a course in Medical Billing and Coding and Graduated in 04/2013 and have had plenty of interview but everyone wants an applicant with 2, 3 and 5 years experience.
I’m at my wits end and I feel like it was not worth it. I still owe the school and on top of all of that I have a federal loan to pay back. What you got for me?
I certainly understand your frustration in trying to get a billing service started – especially just out of school with debt. Unless you already have contacts or clients lined up, it really can be tough getting starting in this business.
As far as what type of specialty, I’ve had the best success with family or internal medicine specialties – probably because there’s more of them. I’ve only billed for Chiropractic once but it didn’t pay as well as other specialties for the same amount of work.
Chiropractic typically has more self-pay and less insurance to bill for, so if you are billing on a percentage basis, your potential income is less. And since many Chiropractic patients have to pay their responsible portion up front, you usually don’t have as much patient billing to do.
For anyone wanting to start a medical billing business I recommend getting some experience before trying to get started – either with a medical office or billing service. It allows you to learn all the “real world” issues in billing and gives you confidence. It also gives you a chance to get some connections and network in the field.
I went to work for a small billing service before getting started on my own. I would suggest looking for billing services in your area. They may be more willing to hire someone with little experience as it sometimes makes it easier to train them. When I needed help a few years ago, I just paid some friends to work part time. I knew what kind of people they were and training them was pretty quick.
Another way I’ve gotten a foot in the door with small medical practices is to offer to work on their unpaid claims – or insurance aging as it’s sometimes called. It’s usually something the office staff doesn’t have the time to work on or they don’t want to because it usually involves calling insurance companies. If you work on a percentage basis the practice really doesn’t have anything to loose. You may not make a whole lot at first but its a good way to prove yourself and usually leads to more permanent work if they like you.
I hope this helps answer your question and hope you find something you love soon.