Medical Billing Forum

Starting a Medical Billing Business => Starting Your Own Medical Billing Business => Topic started by: Michelle1965 on September 08, 2014, 06:58:49 PM

Title: Starting Out!
Post by: Michelle1965 on September 08, 2014, 06:58:49 PM
Is it possible to start your own billing company part-time until you get enough clients while you work full time as an employee for another doctor's office?
Title: Re: Starting Out!
Post by: kristin on September 08, 2014, 08:36:12 PM
It is possible, but will potentially be a bit difficult logistically. An example:

You have a potential client ready to sign for your new billing company, but first they want to meet you in person(maybe more than once), and the only time they are available is when you are at work. What do you do? If you manage to figure that out, and they sign as a client, they will want to be able to contact you whenever the urge strikes them...but you are at work, and can't take their calls until you get home. See where I am going with this? Now, if you are honest with them, and tell them you have a full time job for the time being, and can only be available for them at certain times, they will either understand, or they won't.

While I am not trying to discourage you, I am trying to show you how these situations can and most likely will come up. You need to be prepared for them.
Title: Re: Starting Out!
Post by: Merry on September 08, 2014, 11:18:32 PM
Great question.  Thanks for posting it. Of course it is possible but.. Will you be able to give your client what they need.  We spend many hours on the phone tracking down "lost" claims, fighting denials, and complaining about inaccurate reimbursements.  I realize that many things can be done online 24/7 but you probably know from working in a medical practice that there are many times that you have to be able to contact someone during working hours.  Would you be able to do that with your work schedule?  Just asking questions that you can ask yourself.
Title: Re: Starting Out!
Post by: Michele on September 09, 2014, 07:55:31 AM
Both Kristin and Merry bring up great points for you to consider.  Even with those obstacles, which are very valid, it can be done.  I hope you don't take their advice as discouraging.  We need to be honest with you in order for you to know what you're getting into.  I wanted to add a couple of thoughts:

1.  It depends a lot on the type of account you have.  A full time family practice with multiple physicians might be difficult where a solo mental health counselor would be easier to handle on your off hours.
2.  The type of job you have will affect it.  Do you have any freedom on the job?  Down time that it would be ok to work on anything?  Breaks that are substantial enough to get in a phone call or two?  (I don't in ANY way advocate working while on someone else's clock unless it is ok.  Some jobs allow employees to read magazines or books, or whatever when there is not something that needs to be done but a body has to be present.)
3.  In today's world, much can be done by email, on the internet through websites, etc.  So it may be a bit easier to get around not being available during the normal work hours.  Also, many insurance carriers have lengthy hours for phone times.  But there are still those issues that do require phone time from 9-5 so you will have to make sure you can handle that.
4.  Do your providers need to be able to reach you during your work hours and can they?
5.  Marketing can be difficult when working full time.  When we started I had to use vacation time when I scheduled some of my meetings with potential clients.

Good luck!
Title: Re: Starting Out!
Post by: PMRNC on September 09, 2014, 09:03:48 AM
I agree with the others. When I started my billing company I was working 50+ hours a week  at a full time job, with 2 small clients,  so I wouldn't say it's not possible.  I was able to work through my lunch and we also had flex time so If I recorded my 10 hours a day, my time was my own. I would use lunch time and any breaks I had.
Title: Re: Starting Out!
Post by: StephD on September 09, 2014, 09:14:07 AM
Yes, you can start a company on a part time basis while working a full time job!  And I agree with everything that has been posted on the subject!  I started in 2007 by billing for speech, occupational and physical therapists for extra money.  I took over the accounts from a friend who no longer had time to do their billing since she had graduated from nursing school. 
I am in the process of taking this business full time in the near future.  I turned down two accounts last year and sent them to a friend who also has a billing service.  She started out part time and now has a successful business. Her husband now works with her because of the growth.  So, it CAN be done if you take into consideration the different scenarios that have been posted.
Title: Re: Starting Out!
Post by: Michelle1965 on September 11, 2014, 05:34:13 AM
Thanks to everyone for your great input!  I definitely have something to think about!
Title: Re: Starting Out!
Post by: roxdione on September 29, 2014, 02:40:11 PM
Have you had success starting your billing business while working fulltime?
Title: Re: Starting Out!
Post by: Michele on September 30, 2014, 08:37:17 AM
I worked full time when we started but Alice was available during my work hours.  I couldn't keep it up long though, I had to let my job go.  But many others have worked and started their business very successfully.
Title: Re: Starting Out!
Post by: roxdione on September 30, 2014, 09:39:20 AM
Thanks Michele!  I've been trying to juggle working fulltime..trying to market to get clients.  I find it difficult as it's hard to do cold calling/follow up when your work day is during the day hours which is when the follow up needs to occur.