Author Topic: Want to start Medical billing business  (Read 2297 times)

jaymeetme

  • Newbie
  • *
  • Posts: 3
Want to start Medical billing business
« on: October 12, 2009, 09:11:15 PM »
Hi I was planning to start my own medical billing business. I am from totally different field(IT) and don't know nothing about this field. My uncle is a doctor(Internist) and I know many doctors as I usually go with him for the doctors meeting(just for the dinner and not any kind of serious meetings).

Have some queries

1) Doctors I know are in different fields like Internists,Neurologists,Cardiologists etc. Is it possible to provide services to all this doctors or Shd I stick to only Internists.

2) How long it can take to learn coding and billing from the scratch?

3) How much start-up investment is required for starting my own business?


Pay_My_Claims

  • Guest
Re: Want to start Medical billing business
« Reply #1 on: October 13, 2009, 05:45:43 AM »
why do you want to get into this field? Are you looking to start your own biz and hire people to do the actual work, or do you want to do it yourself?

I ask because some people are just looking at it for investment purposes when they have no experience in billing. Some view medical billing as simply a data entry position (which it is not).

I love doing hair, it is interesting and I would probably be good at it.......but I can't stand on my feet everyday 8-12 hrs a day. I can however work all day doing what I do and still not feel like its work.


Michele

  • Global Moderator
  • Hero Member
  • *****
  • Posts: 4765
    • Solutions Medical Billing
Re: Want to start Medical billing business
« Reply #2 on: October 13, 2009, 07:06:58 AM »
It is possible to start a medical billing business with no background or experience, but you must educate yourself.  Like Charlene said, it's not just data entry.  You really need to understand billing to do a good job.  You cannot just buy a PM system and start submitting claims.  There are things you need to learn and understand first.  As far as your questions,

1.  It is possible to bill for more than one specialty but that means more learning.  Once you understand billing, the extra specialties are easier to learn. 

2.  No way to answer this one.  People doing this for 20 years are still learning.  It depends on how you are taught, and how quick you learn.

3.  Again, no way to answer.  Too many variables.  PM systems vary from $150 per month for some web based softwares to several thousand dollars to purchase one.  And that's just the PM.  You need computer, phone, fax, etc.


Good luck in your decision.

Michele
Sign Up for our FREE Medical Billing Newsletter
Get a 10% discount on Medical Billing Products by using Coupon Code: 10OFF
http://www.solutions-medical-billing.com

jaymeetme

  • Newbie
  • *
  • Posts: 3
Re: Want to start Medical billing business
« Reply #3 on: October 13, 2009, 02:01:42 PM »
why do you want to get into this field?

To make money. :-))

Well I want to learn first how to do billing(ready for volunteer service) and then after 1-2 yrs down the line I want to hire people and want them to do.

Thankx for your help and advice.

PMRNC

  • Hero Member
  • *****
  • Posts: 4254
    • One Stop Resources & Networking for Medical Billers
Re: Want to start Medical billing business
« Reply #4 on: October 13, 2009, 02:13:17 PM »

Quote
Well I want to learn first how to do billing(ready for volunteer service) and then after 1-2 yrs down the line I want to hire people and want them to do.

Be aware that in many states a company/practice can not hire you to work for free unless you are part of a college Internship/externship program. It's illegal. Also, while I can appreciate the need and goals to own a business with employees who do the work and rake in the money..(don't we all want that) it's not practical for a long time with a long standing client base. I just don't like to see people get into this business with the wrong impression. Like Michele mentioned.. those of us with even over 20 + years are still learning, for example there were quite a few BIG time changes to the industry in the past 6 months (HITECH, Parity, Red Flag, .....etc...)  I'm still learning and I'll always be learning.
Linda Walker
Practice Managers Resource & Networking Community
One Stop Resources, Education and Networking for Medical Billers
www.billerswebsite.com

Pay_My_Claims

  • Guest
Re: Want to start Medical billing business
« Reply #5 on: October 13, 2009, 03:46:57 PM »
why do you want to get into this field?

To make money. :-))

Well I want to learn first how to do billing(ready for volunteer service) and then after 1-2 yrs down the line I want to hire people and want them to do.

Thankx for your help and advice.


So you want to move from IT to billing???
You may want to check out the average pay for medical billers in your area. Not to discourage you, but we have forums filled with medical billers with years of experience, and starting on your own isn't easy. I have emails daily with people asking me how to start in this business. I have those that start and then feel its just too much of a risk. Dr.s make good money, but I hate to see blood, so I just bill the charges :-)

Pay_My_Claims

  • Guest
Re: Want to start Medical billing business
« Reply #6 on: October 13, 2009, 03:48:05 PM »

Quote
Well I want to learn first how to do billing(ready for volunteer service) and then after 1-2 yrs down the line I want to hire people and want them to do.

Be aware that in many states a company/practice can not hire you to work for free unless you are part of a college Internship/externship program. It's illegal. Also, while I can appreciate the need and goals to own a business with employees who do the work and rake in the money..(don't we all want that) it's not practical for a long time with a long standing client base. I just don't like to see people get into this business with the wrong impression. Like Michele mentioned.. those of us with even over 20 + years are still learning, for example there were quite a few BIG time changes to the industry in the past 6 months (HITECH, Parity, Red Flag, .....etc...)  I'm still learning and I'll always be learning.

Agreed, I was just looking at the MUE's that I have to deal with now..... ???