Marketing a Small Business
Medical Billing and Coding Business Promotion
Techniques for marketing a small business. Promote your medical billing and coding business with these tips and ideas...
If you've decided on becoming your own boss and capitalizing on your medical billing and coding knowledge, congratulations! You're about to begin on an exciting journey, full of rewards (and challenges)!!
After you've decided on your medical billing business plan and specialty field, it's time to start marketing your business.
See our article on medical billing outsourcing as a business option for more on outsourcing, or our guide to starting a medical billing business.
Medical Billing Marketing
Two sides to the coin
The medical billing industry is huge and vastly complex.
Luckily you're marketing a small business to a relatively small audience. This audience will depend on your billing specialty.
On one side of the coin, if you decide on a very specific specialty (like pediatrics), your market will be accordingly small. You'll have less competition, but also less of a market.
On the other side of the coin, if you decide on a large field, or decide to cover multiple specialties (like family practice, ear nose and throat, and gastroenterology) you'll have many more opportunities for marketing a small business.
But because of this, your competition in the medical billing outsourcing market will be much fiercer.
So, how do you start?
Scope out your area
Scoping out potential customers depends on where you want to find them.
If you want to work for local doctors or clinics, you'll have to check out your local area. On the other hand, if you want to work online or remotely for a company outside of your area, you should check on the internet or make travel arrangements.
Once you've decided on an area to focus on, start by gathering your marketing materials.
Medical office managers and doctors are very busy people, so they don't want to look through pages and pages of text to find out what your business is offering. Keep your materials for marketing a small business simple - include:
A brochure with your medical billing/coding business information, credentials, and proposed rates.
Include any recommendations, or the names of any other providers or billing companies for which you have worked. Make sure these companies are willing to put in a good word for you!
- An attractive and creatively designed business card, with all necessary contact information.
- You might also want to include a reference page about the medical marketplace. Describe how a qualified biller and coder can help ease administrative burdens as well as increase revenue and claim turn around time.
- And lastly, put all of your materials in a nicely designed folder. Include your business logo on the top of the folder, to make it easily recognizable.
Making sales calls
Making sales calls is intimidating, but it doesn't have to be a negative experience.
Depending on the needs of the provider you're contacting, they may simply refuse you, put up with you, or be genuinely interested in what you have to say.
You never know what you're going to get.
When you begin making sales calls, write down the name and phone number of each provider you plan on calling. Have it ready when you begin to call. You might even want to create a spreadsheet with contact info, any important names, and the response.
In your calls, don't be pushy. Simply ask if the office outsources their billing, and who is in charge of billing decisions.
See if that person is available so you can talk to them. Whether you actually get through to someone or not, write down all the information you get and plan on stopping by the office within the next week.
Just drop by
After you've made your calls, plan on dropping in to the offices that sounded promising within a week or two. Gather all your marketing materials and plan your route.
As you begin making your stops, stay positive! Chances are, you won't be able to get in to see the doctor right away, so don't be surprised if you get stopped at the front desk.
Perhaps one of the best ways of impressing medical office personnel is by schmoozing them with freebies! This is a win-win way of marketing a small business.
Have some pens, sticky notes, pads of paper, letter openers, cups, or any other useful office supply made up with your logo on it.
Medical offices also love snacks. Include some candies, crackers, pretzels, or drink mixes with your office supply goodies. If you want to get really creative, include everything in a tote bag, little basket, or plastic baggie.
Go up to the front desk, introduce yourself, and ask for the office manager. If you get to talk to them, great! Put on your best smile, and market your services.
If not, happily hand over your marketing materials, including your goodies. Whether or not the office manager or doctor actually sees your brochure, chances are that they'll definitely see the bag of goodies sitting in the lunch room, with your logo on the front!
Capitalize on the medical billing climate
The medical billing industry is constantly changing.
Stay abreast of all of these changes by maintaining multiple certifications, or at least a staff with multiple certifications. Not only will this help you do your job, but it makes your stand out among other, less qualified billing agencies.
In your sales call and small business marketing materials, make sure to point out that medical billing outsourcing is a great way for a medical practice to:
- reduce administrative costs
- reduce paperwork
- increase revenue.
Include relevant statistics and figures.
Highly qualified billing personnel can complete the medical billing process without the hassles of day-to-day office duties. They can focus on their claims, making sure they're paid quickly and sufficiently.
Marketing your medical billing home based business takes time, effort, and a good amount of start-up money.
But don't worry. Medical billing needs are increasing every year, and more and more providers are turning to outside billing companies, due to their expertise and availability.
Once you find your niche, exploit it and grow. You will be successful!
Have a look at the ebook Advanced Medical Billing Marketing for the New Economy for fresh medical billing marketing ideas.
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