Your own medical billing home business can be a gateway to more personal freedom. Learn all about what it involves, and what it takes...
If you're looking for a way to be your own boss, starting a medical billing home business may be the right choice for you.
Medical billers and coders handle insurance claims for any kind of healthcare facility and specialty.
They are a key member of any practice - without billers and coders, these facilities wouldn't have any revenue and would cease to operate.
Before you even think about starting up your own home-based medical billing business, you need to understand the entire process very well (see: general medical billing information), study a course and get certified, or at least get some experience in medical billing and coding.
See how one of our writers got her first medical billing training on-the-job, for free.
Physicians and other healthcare providers need to feel they can trust you to handle their insurance claims - after all, their entire operating revenue will be in your hands.
Once you feel confident that you have enough experience in billing or coding, you can then begin to think about opening up your own business.
Think of your exact market and what services will you provide. Will you bill for any particular specialty? Is there a market for this in your area?
This article on medical billing outsourcing has some food for thought on what should be in your head when you start up.
There are a number of small steps involved, from paperwork, to buying the right office equipment, to finding your first clients. This article explains the "must-do's" of starting your own medical billing business and getting it up and running.
You'll also have to sort out a business licence and get your tax details in order. This guide to the logistics of starting up describes how to make your new billing business legal.
You'll want a solid business plan to define your strategy and show potential investors the validity of your business idea. This article describes the elements needed in a good medical billing business plan.
Once you get up and running you'll want to attract new clients. See our page on marketing a medical billing business for some ideas and tactics.
In order not to scare potential clients away, you should try to carefully negotiate your medical billing contracts and know what to charge. Click the link for an article on how to do this. This article on common medical billing rates should also help you.
Once your firmly up and running, you'll want to stay productive. This page of productivity tips has ideas on how to manage your time and keep your focus when you're billing from home.
There are always more ways to create more revenue for your medical billing home business. All it takes is creativity and courage. We can help with the former - see our article on generating more revenue and profit in your medical billing business for help!
If you decide to go ahead, we wish you the best of luck in your new venture!
You can get more small business advice from the US Small Business Administration website.
The Medical Billing Business in a Box has a good collection of material on all aspects of starting up a billing business, and comes highly recommended.
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