Medical Billing Forum

Starting a Medical Billing Business => Starting Your Own Medical Billing Business => Topic started by: PTBILLER on May 08, 2008, 06:29:45 AM

Title: New Service and trying to get best answers!
Post by: PTBILLER on May 08, 2008, 06:29:45 AM
Hi, This is my second post and it is kind of long.  If you think that the ebook I can purchase here would help, I will gladly purchase.  I tend to think these questions are more in depth than just "starting" a billing service.  But, if I'm wrong and you can tell me my answers are in the book, please let me know that.  Thanks :P
So, I'm just going to ask some questions that I have been pondering. 
1.  What is the going rate for a billing service?  I have advertised a 6% charge for all reimbursements.  How about the cost of sending patient statements? 

2.  When a potential client has contacted me and I speak with them, I usually ask them if I can send them some more information.  I email a quote for services (which is pretty much the above cost), a contract, a chart on how the claims processing actually works.  Is there any other information I should be relaying that would help them make a decision?

3. about a good sample contract, a business associate agreement (to comply with HIPPA).

4.  How is the best way to receive their patient information daily/weekly, etc.  I know USPS with signature, any other electronic way? 

5.  Before I even get a client, should I be purchasing software, signing with clearing house and most importantly, do I need to fill out any paperwork in order to make this billing service ready to go when I DO get a client. 

I don't want to sound like an idiot...I'm very knowledgeable in the billing process and will be billing for physical and occupational therapy.  I have over 15 years altogether with the last seven being in this field.  I just want to have my ducks in a row. 

Thanks to the owners of this website and the forum for any answers and advice.  I really think I can do this and want to do it the best way possible.  Have a great day all!!  Pam
Title: Re: New Service and trying to get best answers!
Post by: Michele on May 08, 2008, 09:41:58 PM
1.  Billing service fees vary greatly across the country.  6% is pretty standard, you are certainly not out of line.  Some charge more, a few charge less.  We include patient billing in with our regular percentage.

2.  Don't be too quick to offer to send them something.  The more you talk on the phone the better you can establish a relationship.  Part of getting them to decide on you is getting them to be comfortable with you.  Only offer to send info when it is evident they will not be making a decision on the spot.

3.  We do talk about contracts in our "How to Start" book, but we don't give an example.  Laws vary from state to state.  We do explain exactly what we include in our contract.

4.  There are many ways to receive pt info from providers.  We set each provider up depending on their specific situation. 

5.  I would think you would at least want your software in place.  You need to be ready for that first client when it comes.  Usually when they decide to use a service they want to start ASAP.  They aren't going to want to hear "OK as soon as my software comes in."  As far as the clearinghouse, you will at the very least want to know what you will be doing and what is involved.

You don't sound stupid.  You sound like someone trying to start up a billing service.  I don't like to 'push' our products, but you may find the "How to Start a Medical Billing Business" helpful.  It does cover all of the topics you just asked about plus much more.  It also has some marketing tips for getting clients. 

We also have two other books that may be helpful down the road, "12 Marketing Strategies" which are the techniques we used to get where we are, and "Taking Your MB Business To The Next Level" for after you have gotten going but when you are ready to go even further.

But for now the "How To" book would cover the basics of getting started.  The billing experience is great, but it doesn't cover the business end of it.  That was where we struggled a bit in the beginning ourselves.

Good luck!  And keep using the forum for help! :)


Title: Re: New Service and trying to get best answers!
Post by: PTBILLER on May 09, 2008, 11:53:18 AM
Thanks Michelle.  I do believe I will purchase the book and get going full speed on this project.  What software and clearinghouse does your business use?  Could I please get some replies on good/bad things about?  I think I'll also post this question by itself. Thanks again!!