Medical Billing Forum

Starting a Medical Billing Business => Starting Your Own Medical Billing Business => Topic started by: williamportor on January 17, 2016, 04:23:46 PM

Title: Cash reserves
Post by: williamportor on January 17, 2016, 04:23:46 PM
Hello - I am about to land client # 7 (I hope) at this rate of growth, I may have to rent some office space and hire an employee in about 12-18 months. I'm no doubt jumping the gun here, but what kind of cash reserves should I have before doing this?   
Title: Re: Cash reserves
Post by: kristin on January 17, 2016, 07:53:47 PM
Without knowing your demographic info, such as rental costs and what you would pay someone, I can only guesstimate, and that would be three months(at least)reserve of what you would plan to expend.
Title: Re: Cash reserves
Post by: Michele on January 19, 2016, 10:48:41 AM
Agree, that's not an easy question to answer but I think kristin's recommendation is good.  3 months should be safe.