Starting a Medical Billing Business > Starting Your Own Medical Billing Business

Starting a Medical Billing Business

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Tasha:
Hello All,

I am new to this website and so far I've found it very helpful! I want to start a medical billing business from home along with a friend who is also in the field. So far we are in the researching stage but we have a huge vision. What would you all consider the most important key points of starting a business? Also, how important is it to actually become a certified biller and coder? The both of us graduated from the MIBC program with a diploma. We have a few years of experience but are not certified. Any advice is greatly appreciated.

Thanks,

Michele:
You will find that many have different opinions on certification.  I personally do not think it is necessary for a medical billing business to be certified.  I have been running our business for almost 23 years and I have never once had anyone or any doctor ask me if I was certified.  I have also never lost an account because I wasn't certified.  We also do not have any certified coders that work for us.  We have employees that have taken coding courses.  It is important to understand coding but as a MBS we are not coders.  So Personally I do not feel either are needed. 

As for the most important points of starting:  Marketing, marketing, marketing.  Marketing is the most important part and the hardest part.  If you go back to previous posts you will find many tips on marketing.  I couldn't possibly mention them all, but there are many.  A lot of members have shared what worked for them. 

My second tip would be to say make sure you have systems in place for each aspect of the work to make sure all is getting done.  Many people put the working on the aging report as the least important task and if they don't get time, they don't do it.  That is a mistake.  Make sure you identify all areas and set up a schedule and system for getting the work done.

Good luck!!

williamportor:
Hello - Michele hit most of the high points here, and yes, marketing is key to your success. A few others things to look at if you've not already done so:

* Track your efforts and results: Are you doing telephone prospecting? Door to Door marketing?, Direct Mail? How many attempts, pieces of mail, calls etc. What are your results?? Doing this will tell what is working and what is not.

* Get your financial house in order first: It may be months before you see your 1st paycheck. Can you afford to pay your living and business expenses during this time?

* Write out a business plan: 2-3 pages will be enough to start, but have a clear direction to follow. What are your goals? Where do you want to be in 5,10,15 years? Use your tracking numbers to make changes to your business plan as you get new tracking info.

Yes....read everything on this forum. It's the best free education you'll get. Best of luck.  :) 

Tasha:
Thank you so much ladies! We haven't started marketing yet. I read somewhere on this forum that we shouldn't start marketing until we are ready to take our first client. We are really excited about this change! I plan to stay at my current job until we are ready. It is a lot of work to be done and I am ready for the challenge.

tallmanusa:
Don't quit your day job.
Finding and keeping clients who pay is an uphill battle, very few win.

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